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social security

When Should You Retire?

About half of Americans retire between the ages of 61 and 65. Among today’s retired households, a traditional pension or retirement plan appears to be one of the differences between a high- and low-income lifestyle. That’s because among the 41 percent of retirees whose annual income is less than $25,000, only 21 percent receive income from…

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Live Long or Prosper? How Retirees can do Both.

Some retirees underspend throughout their golden years, sacrificing quality of life to assure they don’t outlive their income. Others resist their desire to be philanthropic because of concerns that donations could leave them short on money down the road. A market downturn during the early years of retirement can be one of the biggest risks…

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Facts About IRAs

While an IRA may have a lower annual contribution limit (2017: $5,500; $6,500 age 50 or older) than a workplace-sponsored retirement plan, opening an IRA can provide an opportunity to help diversify your retirement assets. An IRA offers certain benefits that are generally not available in a 401(k), such as: Lower cost Larger spectrum of…

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Retirement: Spending vs. Income Planning

One common rule of thumb for retirement savings is to replace 80 percent of your pre-retirement income — or an even higher percentage. But what if you currently spend more than you earn? Or what if you spend much less than you earn? Perhaps a better measure would be to base your retirement income on your…

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Planning for Tax-Efficient Retirement Income

If you expect to be in a high tax bracket in retirement, you may consider allocating your retirement assets in a variety of different types of financial products to help reduce your tax liability. The growth potential of tax-deferred annuities may be appealing to those who have invested in safe, low-yielding strategies and are concerned…

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Planning for a Longer Trip-Life Expectancy

Packing for a weekend trip is easy. It only requires two changes of clothing, cosmetics and sundries, and you’re on your way. When travelling for a week or more, packing becomes more complex. How do you anticipate what you may want to wear seven days from now? The longer journey requires careful planning.    In 1930, before Social…

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