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Tag Archives: In the News
The Affordable Care Act and Your Investment Income
So how might you avoid having taxable income from the above sources push you over the income threshold, subjecting you to the 3.8% surtax? One strategy being used by savvy investors is to shift your investment strategy towards assets that provide more tax-efficiency and control, such as fixed, traditional, or indexed deferred annuities. Continue reading
Posted in In the News, Personal Finance
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How can I prepare for the “Fiscal Cliff?”
With huge spending cuts hitting Americans at the same time as tax hikes, the economy could contract, resulting in a recession and subsequent market volatility. Given this uncertain situation, it’s important for those in or nearing retirement to evaluate their risk tolerance and adjust their financial plan accordingly. Continue reading
Posted in In the News, Personal Finance
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The very low risk of insurance company bankruptcy
When purchasing a financial product, one of the most important aspects to consider is the financial strength of the company from which you purchase the product. Insurance companies often have a leg up on this regard. Continue reading
Posted in In the News, Personal Finance, Product Features
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Getting close to retirement, but unsure if you can afford it?
Did you know that it takes 75% to 85% of your pre-retirement income in order to maintain your current lifestyle in retirement? What’s more—even though you don’t know how long you’re going to live—you should assume that you’ll need to have enough to live on for at least 25 to 30 years. Continue reading
Posted in In the News, Planning for Retirement
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In Changing Retirement Landscape, Annuities Help Employers and their Employees Meet Financial Goals
Earlier this month, General Motors was at the center of some controversy when the automaker unveiled that it would be converting its pension payment plan for 118,000 salaried retirees as a means of shoring up the company’s finances. The announced plan would offer buyouts to currently retired salaried workers who agree to stop receiving a monthly pension check and opt instead for a lump sum payout or equivalent monthly annuity checks paid out by Prudential Insurance Co. So, where does this leave GM’s retirees? Some have expressed reservations that, in transitioning from pensions to annuity payouts, they stand to lose the security of their payments because annuities are not secured by a federal authority like the FDIC, and will have to forgo cost-of-living adjustments. Continue reading
Posted in In the News, Planning for Retirement
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Jobs Today Affect Retirement Tomorrow
Behind this short term struggle for jobs lies an even more serious long term demon: the need to amass adequate retirement savings, especially in light of the fact that the Medicare and Social Security safety nets may not exist in 20 or 30 years (see our April 25th post on Social Security below). Continue reading
Posted in Personal Finance
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Don’t count on an inheritance to boost retirement savings fund, study finds
As the United States faces increasingly uncertain economic times and employment outlook, working adults can no longer count on an inheritance to boost their retirement savings fund. A 2012 Allianz Life - American Legacies Study released this May suggests a shift in the attitudes of Baby Boomers (between 47 and 66) and Elders (72+). Both of these groups reported that family stories and heirlooms are their most important legacy – as opposed to a monetary inheritance, while only 20% of Elders said that they owe their children any inheritance at all. Continue reading
Posted in In the News, Planning for Retirement
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The Future of Social Security
A new government report says Social Security reserves could be exhausted by 2033. You can read more about the report in a Wall Street Journal article from Monday. We’ve seen concerns about the future of Social Security for years, and this report doesn’t exactly bring reassurance. It’s unclear if Social Security will support Americans’ retirement plans for the next generations in the way it has traditionally been used. So what does it all mean for consumers? Continue reading
Posted in In the News
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Are Small Business Owners Prepared for Retirement?
New research from The American College, the nation’s largest non-profit educational institution devoted to financial services, reveals that in addition to not having pensions or 401(k) plans, an additional one-third of small business owners have failed to estimate how much it will actually cost them to retire. Continue reading
Posted in In the News, Planning for Retirement
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How Health Reform Could Impact your Retirement Plans
Regardless of your views on the 2010 health reform law, there are some specific provisions that may impact how those approaching retirement plan for their health and long-term care costs. Continue reading
Posted in In the News, Planning for Retirement
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