Variable annuities are popular in times of market turbulence because of extra fringe benefits like “guaranteed income for life” or “withdrawal benefits.” However, these are the three reasons why those fringe benefits don’t always mean variable annuities are a good investment option for you: High Cost – variable annuities are double or triple the cost of a mutual fund, which … Read More
Preparing for Retirement
When you’re planning a vacation, you do legwork ahead of time. You buy a travel guide or look online for details about your destination; you comparison shop airfare, hotels, rental cars, etc. Planning ahead is simply a sensible strategy that helps you avoid stress. But somehow, when it comes to retirement planning, people often overlook this type of preparation. Perhaps … Read More
The #1 Concern of Retiring Before Age 65
Congratulations! You’ve worked hard, planned and saved and now you’re able to do what very few people can: you are able to retire before you turn age 65. If you’re in this group, the single biggest concern you have now is health insurance. Q. What do you do if you’re retiring before age 65 and going on Medicare? Assuming your … Read More
A Retirement Story: The Silent Threat to Your Retirement Savings
When my grandparents took early retirement at age sixty-two, they did pretty much what everyone of their era did: My grandfather had worked for the same company for more than thirty years while my grandmother stayed at home and raised the family. When my grandfather retired, they sold their home up north and moved to Florida. They put all of … Read More