Retirement planning is figuring out how much money you will need to have saved up when you retire so that you can live comfortably. It involves estimating how long you will live and how much money you will need each year to cover your expenses.
Learn more about retirement planning from our financial advisors below.
Too many employees are cashing out their 401(k)s when leaving a job, significantly impacting retirement security. This trend has been attributed to the “Account Composition Effect,” which describes the tendency of individuals to cash out their 401(k) accounts when changing jobs. Let’s look at why employees are cashing out their 401(k)s and what can be […]
Guaranteed minimum income benefits (GMIB) are a type of financial product that provides investors with a guarantee of a minimum level of income during retirement. These benefits are offered as an add-on feature to annuity contracts or other types of investment products. The most important rule when considering an income rider is: What type of […]
As people age, the need for long-term care services becomes more likely. In fact, about 70% of people over age 65 will require some form of long-term care during their lives. Long-term care includes a range of services that help meet health or personal needs. It can be provided at home or in residential facilities […]
The fact is both scientific and straightforward: Women live longer than men! For several years our family worked as volunteers for the food bank. It supplied those in need with weekly baskets of food and other necessities of life. It was very special to help, and we have numerous memories of that time. Over the […]
Understanding the language of longevity is a crucial step in securing your future. According to a report released by the TIAA Institute, there is a direct correlation between an individual’s understanding of life expectancy and their ability to prepare for retirement. This report, entitled “The Language of Longevity: How Understanding Prompts Action,” examines how this […]
Life insurance can be an excellent option for seniors looking to provide their loved ones financial security and peace of mind. It can help cover end-of-life expenses and leave an inheritance for family members, as well as many other benefits we will discuss below. Let’s look at the types of life insurance available to seniors, […]
Leaps and bounds, but still a long way to go. Nothing compares to the feeling of opening the first bank account in your own name. For women, it means so much more than just an account; it’s independence, a sense of security, and a sense of ownership over their own lives and well-being. However, it […]
Are you an optimist? Retirement planning is one of the most critical decisions we make in our lives. We spend most of our working years accumulating funds to live a comfortable life after retirement. While having a positive outlook and optimism about our future is essential, too much of it can be devastating to our […]
Will the stock market volatility reduce your retirement funds? Saving for retirement can be daunting, but securing your future financial stability is essential. The market can be unpredictable, with sudden dips and drops, significantly impacting your retirement savings. Market drawdowns are among the most critical factors affecting your retirement savings. Let’s dive deeper into why […]
“If you are a federal employee covered by FERS who needs or wants to retire earlier than planned, MRA 10+ may be an option. MRA + 10 allows Feds who have met minimum age requirements and have at least ten years of service to retire sooner than expected.” Brian Swerdlow Federal employees under the Federal […]
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