Category - Retirement

1
Before You Buy a Variable Annuity…
2
10 Tips for Retirees in These Difficult Times
3
Disability Insurance: Why You Probably Need It
4
Financial Planning Checklist for Recent College Graduates
5
Losing Faith?

Before You Buy a Variable Annuity…

I got asked the other day what I had against annuities. Let me first explain that my issue has more to do with variable annuities over fixed annuities.  Fixed annuities can serve a legitimate purpose in a retired individual’s portfolio.  (There are options that may be better though). What I do want to address in this entry is:

1) the proper location of one’s investments

2) the tax consequences of investing in a variable annuity.

Too many tax professionals do not have a good sense of the investment side of an individual’s financial life and too many investment professionals do …

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10 Tips for Retirees in These Difficult Times

001 - Couple meeting with AdvisorThe recent economic changes impact everyone and particularly those who are retired. Whether it is a drop in value of your retirement account or decrease in interest rates at the banks, everyone has noticed.

The question is what can retirees do now? Some things are fairly obvious, such as delaying a vacation or just spending less on trips.  Putting off major purchases as long as you can is helpful.  But for more subtle hints a professional opinion is useful.

Here are 10 things retirees can do in these difficult economic times.

1.     Shop your insurance program. There can be large …

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Disability Insurance: Why You Probably Need It

The Life and Health Insurance Foundation for Education makes this declaration annually, but the average person could miss it (start planning ahead for Life Insurance Awareness Month, which comes in September).  Kidding aside, the occasion prompted me to realize that I haven’t ever written about disability insurance, which most people understand only vaguely.

Life insurance is something you probably don’t need if you’re single and have no dependents. But if you become unable to work, you still need money to live whether you have dependents or not.  One way to provide for that need is insurance.

If you’re under 60, …

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Financial Planning Checklist for Recent College Graduates

According to the National Postsecondary Student Aid Study (NPSAS), graduating seniors with educational debts carry an average debt load on the order of $20,000. More and more, college students are beginning their working lives with fairly heavy debt loads. It’s more important than ever for newly-minted grads to hit the ground running with a plan for their finances.

Based on the things I’ve observed in my clients (and others), here are nine key things that I think new college graduates should give attention to:

(1) Understand How Your College Loans Work

A surprising number of graduating students don’t understand the …

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Losing Faith?

According to a study conducted by the Employee Benefit Research Institute and published by the Wall Street Journal, workers’ and retirees’ confidence about their retirement security has deteriorated sharply during the past two years. The survey of 1,257 Americans found that the percentage of workers who are very confident about having enough money to retire comfortably has dropped to 13% this year, a record low. That is down from 18% in 2008, and a record high of 27% in 2007.

According to Jack VanDerhei, a survey co-author, retirees are waking up to what amounts to “a huge gap between what …

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