The 2015 bipartisan budget deal appears to have taken away some of the Social Security claiming strategies. It also appears that these changes are with us from now on. These changes will cost retirees a lot in guaranteed lifetime income. It could cost some people up to $50,000 in lost lifetime …
Why Are Annuities So Complex?
One common complaint against annuities is that they are so complex. And in some cases this is true. Heck, in a lot of cases this can be true. And I guess if all annuities were easy to understand then my website (all about making retirement planning easy to understand and all) would have one …
5 Facts About Annuities You Probably Didn’t Know
Do You Know These Facts About Annuities? There’s nothing wrong with not knowing something. Heck, since we all specialize in whatever our occupation is, there’s a good chance that most of us know little about most things outside our area of expertise. There’s nothing wrong with that. So far so …
Build Your Own Retirement Income Plan in 5 Easy Steps
Why should you want to build a retirement income plan? Because you need to know how to efficiently spend your savings to make them last the rest of your life. Without a plan, you could spend too much and then spend the rest of your life restricting your lifestyle. Also, without a plan you may …
How Do Annuity Income Riders Work?
When it comes to guaranteeing a lifetime income there are a couple of ways to approach it. Of course most of us will get Social Security. If you’re lucky you may even get a pension. And even with those 2 income sources added together, it may still not be enough to cover your retirement …
5 Ways To Generate Retirement Income
Different Ways to Plan For Retirement Income I’m so glad to see the idea of retirement income planning becoming more popular. Especially since there are so many Baby Boomers retiring each day. The going estimate is around 10,000 per day that are turning 65. With that many people reaching …
5 Myths About 401(k) Rollovers That Could Wreck Your Retirement
One of the most critical financial events that you will one day experience is your 401(k) rollover. Why do I say it is “critical,” I mean that seems a bit dramatic doesn’t it? Well, not exactly. When you rollover your 401(k) into an IRA you want to make sure you don’t make any mistakes. If …
Annuity Interest Rates – A Look Behind The Curtain
Don’t focus on the annuity interest rate as much as on the annuity payout. Most retirees' goal for retirement is to know they are doing the best they can with the resources they have. They want to use these resources in a low risk and low cost way to generate as much income as possible. And if they …
How Much Do I Need To Retire?
Most people that are nearing retirement age ask the same question: “How much do I need to retire?” If there were a definitive hard-and-fast answer I’d give it to you right now. But the truth is, there is no one-size-fits-all answer to this question. But that doesn’t mean you can’t know for …
Are Fixed Index Annuities Safe From A Market Crash?
If you have been watching the market for the past month you know how tumultuous things have been. On August 10, 2015 the S&P 500 closed at 2,104.18. And by August 25, 2015 it closed 11.2% lower at 1,867.61. As of writing this article (August 27, 2015) it has rebounded slightly, closing at …