It’s no secret that retirement planning is often neglected, especially by young adults. However, a new study has found that the problem is particularly acute for women. According to the US Census Bureau, about 50% of women ages 55 to 66 have no personal retirement savings, compared to 47% of men. The gender gap persists […]
Inflation poses a severe threat to all Americans and can cause profound damage to your retirement savings. As of June, the inflation rate in the US was a whopping 9.1%, the highest it’s been since 1981. During times of high inflation, the price of goods and services skyrocket, including the cost of college tuition, healthcare, […]
A cognitive bias refers to how our experiences and preferences distort our judgments and decisions. For example, when deciding whether to buy a new car, we might focus on the positive aspects of the vehicle (the safety features, the comfortable seats) and downplay the negative aspects (the high price tag, the small trunk). This tendency […]
When it comes to our investments, we all want to see them grow. But sometimes, the markets can be volatile, and we can be exposed to losses. While it’s normal to feel concerned about volatility, it’s important to know that options to reduce market volatility are available. Often, I recommend Fixed Indexed Annuities (FIA) as […]
“If you are waiting for interest rate hikes before purchasing an annuity, you may want to reconsider.” Joe Edgeworth The Federal Reserve has begun declaring interest rate changes in the past few months. If you currently have an annuity or are considering buying one, you might wonder if those rate increases will affect your annuity’s […]
“A “joint and survivor” annuity may provide greater peace of mind for couples over 65. You will need to do some research before you purchase, however.” Joe Edgeworth As you probably already know, annuities are retirement income vehicles that can provide predictable, guaranteed income streams during retirement. A particular type of annuity, the joint and […]
Make Sure You Understand the True Costs No one wants to think or talk about divorce, but the reality is that it does happen. Many people who plan to get divorced hold the misconception that they will be able to maintain their current financial lifestyle. “Two can live as one,” As the old saying goes. […]
Greed and fear are human emotions, and with them can come human mistakes. Fear: an unpleasant emotion caused by the belief that there is a threat that could harm you. Greed: An intense and selfish desire for something, especially wealth. While these words are, by definition, very different, they relate to each other in the […]
Make sure you do not forget these tax deductions. There are the standard tax reductions every taxpayer knows about, but there are three others few realize that they can deduct to reduce their taxes. Plus a bonus! Volunteer work donations Many Americans volunteer their time and services to nonprofit organizations instead of making financial […]
According to a recent Harris Survey, people who take a lump sum from their employer-sponsored retirement plan are depleting those funds fast. 1 in 5 retirees has exhausted it completely. After lump sum withdrawal, according to Harris Poll: 62% had money leftover 21% had depleted their funds entirely 17% didn’t know how much they had. […]
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