It is not surprising that the thought of retiring is overwhelming to many due to major life shifts. This could include financial uncertainty, loss of identity, and lack of structure. Studies show that high anxiety regarding outliving savings and maintaining one’s lifestyle is one of the more common reactions to anticipating retirement. We can help […]
Some clients have asked us what the difference is between having a life insurance policy that benefits their family, and having an annuity policy that has beneficiaries connected to it, in addition to the annuity having a specific death benefit feature. And that’s a good question, because it addresses the differences between each situation, even
Preparing for the Future Read More »
One of the most difficult challenges when planning for retirement is grappling with uncertainty. Markets fluctuate, tax laws change, healthcare costs rise unpredictably, and perhaps most challenging of all, no one knows exactly how long they will live. Yet longevity—the number of years a person may spend in retirement—is one of the most important assumptions
Have you heard this phrase before? It is an interesting one often used when simulations are run with hundreds of possible scenarios, using varying market returns, inflation levels, health costs, extended family financial needs, income levels, employment assurance, and the like, in order to see what the range of potential outcome is for your specific
Monte Carlo Simulation Read More »
Traditional IRAs, 401(k)s, and other similar retirement accounts enable you to save money before taxes, allowing your savings to grow for decades. However, the IRS will eventually require you to begin withdrawing a portion of your savings on an annual basis. These withdrawals are known as required minimum distributions, or RMDs, and the income you
New RMD Rules For 2025 Read More »
There is no one “ideal retirement.” But there are many ways to have a happy retirement if you have reflected on the choices you have, and what you are willing to leave to chance. The way you answer the following questions may help you decide what may need more thought before you begin your retirement:
Several significant changes to the Social Security system will go into effect beginning in January 2026. These changes will affect benefit amounts, retirement age rules, taxes, and the minimum income required for future benefits. Cost-of-Living Adjustment (COLA): 2.8% Increase On October 24, the Social Security Administration (SSA) announced a COLA of 2.8% for 2026. This
Changes Coming to Social Security in 2026 Read More »
We frequently write about longevity and how important it is to have savings we don’t outlive. And while we’ve always striven to give our clients options for products where the income stream continues no matter how long you live, we are still often asked for a ‘number’ so that can be ascribed to someone’s projected
Years ago, it seemed as if the only reason to purchase life insurance was simply to make sure loved ones who depend on your income had what they needed financially after you passed away. Products have evolved along with the passage of time. While life insurance may still seem like something you buy primarily for
Evolution of Life Insurance Read More »
By the middle of the twenty-first century, one out of every six people will be 65 or older. In the United States, the Social Security Administration is expected to be unable to pay full benefits beginning in 2034. These demographic and financial pressures are frequently thought to be the eventual cause of a retirement crisis.
Retirement Age Is Changing Read More »
