Immediate income annuities with a lifetime payout are popular for a good reason. By providing immediate monthly income that’s guaranteed for life, they help assure a worry-free retirement. But you don’t have to choose the lifetime option. Instead, you may want to choose a set income term from five to 20 years. Sometimes it makes… Continue reading An Income Annuity with a Time Limit Can Be a Great Solution
Tag: savings
“Free Look” for Annuities Offers Safety Valve If Rates or Circumstances Change
Occasionally it makes sense to cancel a new policy and get a better one. With most financial products, you’re committed once you buy. After you’ve bought a stock or a mutual fund, you can’t cancel the purchase and get your money back if you’ve changed your mind or the stock market has plummeted. Even with… Continue reading “Free Look” for Annuities Offers Safety Valve If Rates or Circumstances Change
Rising Rates Threaten Bond Funds. Consider These Alternatives.
Bond funds, including mutual funds and exchange-traded funds (ETFs), are popular because they have appealing features. But they do have some significant disadvantages. Bond funds are liquid and are less volatile than equity funds, and they typically pay monthly income. They come in many flavors, from the lowest-risk offerings like short-term US Treasury funds to… Continue reading Rising Rates Threaten Bond Funds. Consider These Alternatives.
Laddering Fixed-Rate Annuities Offers Combination of Good Rates and Flexibility for Future
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
Has COVID Clouded Your Retirement Picture? 3 Tips to Plan Clearly
Some people planning for retirement may do most of the right things in terms of saving and investing. But they don’t have a crystal ball and cannot foresee exactly how much money they will need in their non-working years – or for how long. That uncertainty – magnified by the financial effects of COVID-19 – is one… Continue reading Has COVID Clouded Your Retirement Picture? 3 Tips to Plan Clearly
Seven Secrets to Medication Savings
Anyone looking to save on medication costs, and that is probably you if you are reading this article, has seen the same methods listed in article after article. They include shopping around for the best price, switching to generics, splitting pills, applying to assistance programs, using a drug discount card or copay cards, etc. I’ll… Continue reading Seven Secrets to Medication Savings
Stressing Over Your Retirement Plan? 5 Ways To Boost Savings, Reduce Anxiety
Many Americans have long stressed over their finances, and the COVID-19 pandemic has increased that anxiety, a survey shows. Well over 80% said the crisis is causing them stress with their personal finances, according to the National Endowment for Financial Education. One of the top stressors, many studies have shown, is having enough money saved… Continue reading Stressing Over Your Retirement Plan? 5 Ways To Boost Savings, Reduce Anxiety
Spring Savings Tips to Plant a Prosperous Future
Two-thirds of Americans are limiting their spending each month, and among those 36 percent are doing it to save more money, a recent Bankrate survey finds. That’s good news since another survey finds 70 percent would have difficulty meeting their financial obligations if their paycheck were delayed for even one week! Here are five tips to… Continue reading Spring Savings Tips to Plant a Prosperous Future
Three Ways You’re Underestimating Retirement Costs
People underestimate what their costs of living in retirement will be in three critical ways: Assuming you’ll spend less in retirement than while working: The majority of people have never really sat down and calculated what they’ll need every month.You need to be comprehensive in listing out all expenses. List everything you might spend in… Continue reading Three Ways You’re Underestimating Retirement Costs
3 Saving Tips to Help Prepare You for Unexpected Expenses
It happens to everybody: The dreaded, unexpected big expense – major car repairs, a broken air conditioner, a plumbing problem, a sick pet, a computer crash, a dental emergency. Often these misfortunes come without warning, and they can throw you for a financial tailspin if you’re not prepared with ample savings. Thus, it’s prudent to… Continue reading 3 Saving Tips to Help Prepare You for Unexpected Expenses
Tax Deferral and Guarantees Make Annuities a Compelling Way to Save for Retirement
If you’re contributing the annual maximum to your IRA and/or 401(k) plan, you’re ahead of most people. But tax-qualified contributions alone will probably not give you what you’ll need for retirement. Tax deferral is a powerful tool in saving enough to meet your retirement goals. And that’s why tax laws encourage people to use both… Continue reading Tax Deferral and Guarantees Make Annuities a Compelling Way to Save for Retirement
Hospitals Working to Reduce Unnecessary Blood Transfusions
Unnecessary blood transfusions are often a drain on hospital resources and finances. But now a five-year “blood management program” could change all that. Researchers who developed the program at the Johns Hopkins Health System found that the program resulted in an annual cost saving of $2 million, while improving patient care. A summary of the… Continue reading Hospitals Working to Reduce Unnecessary Blood Transfusions
How to Turn Kids into Young Adults with Healthy Savings Habits
As Jodi walked to class that day the freshman noticed a large circle of booths spread out across the main courtyard of the campus. Scattered among the booths was one giving away free t-shirts with the school’s mascot on it. All Jodi had to do to get the free swag was fill out a form.… Continue reading How to Turn Kids into Young Adults with Healthy Savings Habits
Teaching Money Lessons to Kids Who Don’t Have It Tough
The hardest thing about upward mobility – the so-called American dream – is attaining it. Perhaps the second hardest thing is this: Once you’ve risen from a hardscrabble upbringing and gained financial success, how do you pass the traits that helped get you there – hard work, accountability, passion and discipline – on to your… Continue reading Teaching Money Lessons to Kids Who Don’t Have It Tough
Don’t Have A Cookie-Cutter Retirement Plan
If you’re 10 years out from when you expect to retire, then now is the time to get serious about a retirement plan, says Kirk Cassidy, a Registered Investment Advisor (RIA) who emphasizes the importance of the holistic approach to personal finances. “No matter what stage you’re in, there’s never a bad time to take… Continue reading Don’t Have A Cookie-Cutter Retirement Plan
Can We Make Retirement Planning Easier?
For most people, addressing retirement issues is a costly, abstract and deeply psychological matter, which is apparent from a survey by Schwab Retirement Plan Services. While most survey participants find their 401(k) – a workplace savings plan that lets employees invest a portion of their paycheck before taxes are taken out – a crucial benefit,… Continue reading Can We Make Retirement Planning Easier?
5 Steps Women Can Take to Control Their Financial Future
When it comes to women and money, there is some good news, says Lance Drucker, ChFC, CLU, a veteran financial professional. On average, women are more independent and financially literate than ever before, he says. On the other hand, Prudential’s eighth biennial study titled Financial Experience & Behavior Among Women recently revealed that women are no… Continue reading 5 Steps Women Can Take to Control Their Financial Future