Anyone with a family to protect understands the critical role life insurance plays in their financial plan However, in determining the actual amount of coverage to provide essential protection needs, many people tend to adhere to simplistic rules-of-thumb, such as a “multiple of income,” which may leave them wondering if they own too much or too little coverage.
Many people deal with credit card debt all of their lives with most of them giving little or no thought to what happens with their debt after they die. The fact that nearly 60% die without a will is a strong indication that they’ve given absolutely no thought to it.
Caught in an extraordinary convergence of unhinged stock market volatility and historically low interest rates on savings, many people are rethinking their plans and their vision for the future, especially as they consider the prospect of having to stretch their retirement income over 25 or 30 years. A study conducted in 2015 by the Employee Benefit Research Institute found workers of all
Until recently, many retirees have been able to rely upon the three-legged stool of retirement income sources: A defined benefit pension plan that guarantees a lifetime income, their own savings, and Social Security.
In many respects, people can be their own worst enemies in their quest for financial security. When you consider that our lives are nothing more than a culmination of the decisions we make each day, if we tend to make more bad decisions than good decisions, or worse, if we can’t make decisions at all, it’s should be no surprise when financial security remains elusive.
A recent article over at CNBC.com, touched on something that hit home. If you would have invested $1 in the market back in the year 2000, it would only be $1 today! Can you imagine? Of course you can, because it may have happened to you.
Many of our clients have IRAs that they will never use. So at some point, they will probably be passed on to their children and grand children. Since this may inevitably happen, what if you planned ahead, and used the IRA for your grandkid’s retirement? It may be a profound idea, but it’s completely possible!
Are you living a life full of things that will bring you health and happiness? Hopefully you can check each of these items off your list. Let’s see:
1. REST UP! Getting enough sleep is crucial to your life span. Studies have shown that people who consistently got less than five hours of sleep a night, had shorter life spans on average.
Decisions are not always easy. Retirement decisions can be even harder. So how do you know if you’re making the best decisions that will positively impact your retirement? Good question! And we have the answers, but we have to sit down with you to understand your story as a whole, before we can give you those answers.