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.
Long-term care for retirees is a critical issue in the United States. As the population ages, the demand for long-term care services is expected to increase. However, racial disparities in access, quality, and affordability of long-term care persist, which has significant implications for the health and well-being of retirees of color. A recent study in […]
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that provides insurance to depositors in case their bank fails. However, the FDIC does not cover Bitcoin, the most popular cryptocurrency. There are several reasons for this. First, Bitcoin is not a traditional deposit. When people deposit money in a […]
Financial security for your loved ones is a top priority for most people. Many individuals believe that having a substantial amount of savings is enough to protect their family’s future. However, this may only sometimes be the case. In this article, we will discuss why having life insurance is essential, even when you have a […]
Little better than keeping money under the mattress, the idea that bank accounts are the best way to save for retirement is a myth. In reality, they are one of the worst options out there. By keeping your money in a savings account, you’re missing out on potential earnings and losing purchasing power to inflation. […]
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 […]
As people plan for their retirement, one crucial aspect often overlooked is the cost of long-term care. With an aging population, increasing expenses faced by retirees and their families due to caregiving, and growing healthcare costs, it is more important than ever to consider long-term care costs in retirement planning. In this article, we will […]
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 […]
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