In what ways does an annuity benefit you? This is an important question that needs to be answered before you buy one. Besides offering a steady and guaranteed stream of income, annuities accumulate tax-deferred over time and don’t have contribution limits like 401(k)s and IRAs. Additionally, annuities offer riders that allow money to be transferred…
10 Annuity Tips That Will Save You Thousands (An Unbiased Annuity Guide)
What Is a 4% Withdrawal Rate? How It Might Haunt Your Retirement
A four percent withdrawal rate is a common rule of thumb when planning for retirement. But what does that mean? And more importantly, is it right for you? This article will discuss the four percent withdrawal rate and how it might impact your retirement planning. What is a Safe Withdrawal Rate in Retirement? The safe…
Retirement Planning is More than Retirement Savings Rates
When we talk about retirement planning, the most common focus is how much we are saving to support ourselves in retirement. Simplifying to one goal is a great way to get started, but planning for retirement requires a lot more than just picking a savings rate. Here are some other considerations to think about when…
Weighing the Options When It Comes to Borrowing From Your 401(k)
Financial hardships happen, and can be experienced by anyone. Unexpected layoffs, putting kids through school, and the changes caused by COVID-19 to name a few. Regardless of the reason, when money is needed, there is no shortage of options available for obtaining emergency funds. Borrowing from a retirement fund, specifically a 401(k), is an option…
Everything About Annuity Fees
Hopefully, you are now a little more knowledgeable when it comes to the different types of annuities. Next up? Learning all about the fees that are associated with annuities. Regardless if you buy a variable annuity or fixed annuity, there are different fees charged on these different types of annuities. How are they determined? Well,…
7 Tips to Help Boost Your Retirement Funds
The notion of retirement is a lot like the idea of driving a motorhome from coast to coast. At the beginning of your career journey, your goal of retirement seems remote and almost theoretical. By the time you arrive at your retirement destination, you’re surprised and delighted—but may wonder: “What happens now?” How do you…
How to Stop Being Nervous About Retirement
Retirement can be scary, no matter who you are. It makes sense that some people are nervous about retirement. How much money do you really need for 20 years? What about 30 years? Will you get bored? Will you be lonely? Planning ahead and predicting the future is extremely difficult. It’s tempting to just make…
Annuities: 15 Things You Must Know to Save You Time and Money
The prospect of having some sort of guaranteed retirement income is particularly attractive in today’s uncertain financial climate. The threat of stock market volatility or outliving your savings is less of a worry if you know you’ll be receiving a check every month for the rest of your life. Wait, won’t you have Social Security?…
The Four Stages of Retirement
One of the first stages of retirement begins about five years before retirement. This is when we begin winding down work and gearing up for a new chapter. Stage 1: Winding Down and Gearing Up As retirement grows near, both optimism and financial preparation increase. Travel and spending decline as we think more about saving…
Understanding Required Minimum Distributions (RMD) Rules
When you make a contribution to a traditional Individual Retirement Account or 401(k), the tax liability on the funds you contribute is deferred until you take the money out of the account. That allows you to take full benefit of the interest earned by those accounts. But, the government is going to get its tax…
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