Author - jim@blankenshipfinancial.com (Jim Blankenship)

1
Problems and (proposed) Solutions for 401k Plan
2
Life Insurance: Protect Your Most Important Asset
3
The Equity-Indexed Annuity
4
Are Resolutions Worth It?
5
The 457(b) Special Catch-Up

Problems and (proposed) Solutions for 401k Plan

The 401k plan has been under a great deal of scrutiny lately, with quite a few proposals being offered to “fix” the system.  Granted there are a few problems with the system that is in place, but the overall concept is still good.  What follows is strictly my opinion of some of the real “problems” followed by a look at the presently proposed solutions that are being dallied about.

The Problems With 401k Plan

Note: for the purpose of this discussion (and most discussions here) the term 401k is used to refer to all CODA (Cash Or Deferred Arrangements) such

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Life Insurance: Protect Your Most Important Asset

You may think that your most important asset is your home, your nest egg, your priceless collection of Etruscan snoods. Your most important asset is you – your human capital. Your human capital is your current and future economic contributions to your family. Perhaps you’ve gone to college and majored in a profession to pursue a career. You may have earned advanced degrees and designations to increase your knowledge, professionalism, and income. All of this increases your human capital – your ability to earn, substantially, over your lifetime. Now that you have a family, a spouse and kids to support,… Read More

The Equity-Indexed Annuity

If you’re anywhere near retirement age, or if you’re in retirement, chances are you’ve had an Equity-Indexed Annuity (EIA) pitched to you.

Now, if for some reason you’ve missed out on these pitches (Maybe you’ve been out the country? Don’t have a phone? Don’t read your mail?) here’s the gist:  Insurance salesman tells you about this wonderful product that allows you to participate in the stock market’s upside, while not experiencing any of the market downside.  In today’s stock market climate, sounds pretty good, huh?

A couple of things come into play that the salesguy doesn’t highlight for you:

First,

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Are Resolutions Worth It?

After the first of the years it’s common of individuals to aspire
to change their lives for the better. Many individuals come up with New Year’s resolutions – with aspirations of accomplishing certain goals or tasks that have eluded them in the past.

But do resolutions really work? In other words, what good is
a resolution without action?

Granted, I am being nitpicky. But think of it this way. If I
were to write down a handful of resolutions that I wanted to achieve in 2019 and beyond – they would simply be words on paper.

Don’t get me wrong, …

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The 457(b) Special Catch-Up

If you’re a governmental employee, you may be aware that
your employer offers a 457(b) retirement plan. Additionally, you likely know that like a 401(k), the 457(b) allows you to contribute $19,000 annually to the plan with an additional $6,000 catch-up for those aged 50 or older.

What you may not be aware of is the special catch-up
provision the 457(b) offers. This special catch-up provision allows a governmental employee that is within 3 years of the normal retirement age (as dictated in the plan) to contribute up to twice the annual amount ($38,000 for
2019).

To take advantage of …

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