With today’s low interest rates, it takes planning to create sufficient retirement income without taking more risk than you need to. The days when you could get good income from a collection of Treasury bonds are long gone. You can get income from dividend-paying stocks, bank accounts, bonds and bond funds, and several different types… Continue reading Laddering Fixed-Rate Annuities Offers Combination of Good Rates and Flexibility for Future
Tag: IRA
Pension or Lump Sum? Compare Payouts before You Decide
About half of pension plan participants can choose to take their money in a lump sum when they retire. If you have that choice or are offered a buyout, what’s your best option? Securing guaranteed lifetime payments directly from your company pension plan would seem to be a no-brainer unless you’re facing a financial emergency.… Continue reading Pension or Lump Sum? Compare Payouts before You Decide
Many Options to Reduce Investment Risk in IRAs
People approaching or in retirement should not have an over-weighted stake in equities. If you need to reduce risk in your IRA and/or Roth IRA, what are the best ways to do it? A bank certificate of deposit (CD) is a reasonable choice. But a fixed-rate annuity can be an even better choice. Both CDs… Continue reading Many Options to Reduce Investment Risk in IRAs
Greatest Wealth Transfer Could Be Costly Blunder For Beneficiaries And Windfall For IRS
Anyone who just inherited a deceased parent’s IRA or 401(k) could be about to commit a costly blunder. You can take the money from that retirement account in one big lump sum, no matter how young you are, but that will trigger a tax bill – probably a hefty one. It’s tempting to take the… Continue reading Greatest Wealth Transfer Could Be Costly Blunder For Beneficiaries And Windfall For IRS
What the Kids Get: Planning Your Legacy
After a lifetime of working hard and saving faithfully, some people just want to enjoy retirement and spend their money without worrying about passing on anything to the next generation. But plenty of others are determined to leave a legacy – whether it’s by bequeathing a tidy sum to their children and grandchildren, or bestowing… Continue reading What the Kids Get: Planning Your Legacy
A Life Insurance Policy Could Be Your Retirement Salvation
Americans worry a lot about retirement. Will their savings hold out? Will Social Security still be around? Will healthcare costs gouge a great hole in their finances? What many of them may not be aware of, though, is that if handled correctly their life insurance policies could play a role in making retirement a little… Continue reading A Life Insurance Policy Could Be Your Retirement Salvation
Can an Annuity Be a Smart Choice in an IRA?
Is it a good idea to buy an annuity within an IRA or Roth IRA? At first blush, the answer would seem to be “no” because one of the biggest benefits of an annuity is tax deferral, which you already have in an IRA. But it’s not so simple. “The answer is, ‘It depends”. It… Continue reading Can an Annuity Be a Smart Choice in an IRA?
Relax, Boomer Parents: Millennials Are More Financially Savvy Than You Think
Millennials came of age at a time when the job market was weak and their student-loan debt was high. Such a dreary combination did not bode well for a rosy financial future. But could it be, when all is said and done, that millennials will prove to be just as financially savvy as their baby… Continue reading Relax, Boomer Parents: Millennials Are More Financially Savvy Than You Think
8 Things Boomers Must Know About RMDs From IRAs
According to the experts at Kiplinger, It’s a watershed year for the baby boom generation. In 2016, the first of the boomers — those born in the first half of 1946 — will reach age 70 1/2. The present from Uncle Sam is a demand that they begin withdrawing funds from their traditional individual retirement… Continue reading 8 Things Boomers Must Know About RMDs From IRAs
Who Controls Your Retirement Money?
People make a mistake when they feel as though they’ve lost control of their qualified retirement plans – they never had control in the first place, says retirement advisor Mark Cardoza. “Qualified retirement funds – whether we’re talking about an IRA, 401(k), Contributory or Defined Benefit Pension Plan, or a Roth IRA – have so… Continue reading Who Controls Your Retirement Money?
Avoiding a Government Head Fake on Retirement Savings
A government rule on retirement savings may be tricking retirees into looking at their financial situations all wrong, says a financial advisor who specializes in retirement planning. The rule says retirees can’t leave money in their IRA or 401k accounts forever. At age 70½ they must begin making minimum withdrawals, even if they prefer to… Continue reading Avoiding a Government Head Fake on Retirement Savings