When looking into creating a retirement budget, you may have come across the term guaranteed minimum income benefit (GMIB). Some annuity providers offer this optional insurance rider to guarantee a lifetime income. These providers often present the benefits of purchasing the rider without detailing how it works. As such, it’s important to understand GMIBs before …
What Is a Guaranteed Minimum Income Benefit (GMIB)? Read More »
The financial burden of a college education is a source of stress for many families. According to CollegeData.com, tertiary education in private institutions would cost approximately $39,400 for the upcoming school year. This rough estimation doesn’t include other supplemental expenses an average college student would incur. With tuition and other expenses increasing each year, finding …
How To Fund College Education Through an Indexed Universal Life Policy Read More »
It’s always a good idea to purchase a life insurance policy to ensure that your family is set financially in the event of your retirement or death. But, with all the different life insurance policies on the market, it can be difficult to know which one is right for you. It can get confusing trying …
IUL vs Whole Life Insurance: What’s the Difference? Read More »
For a financially secure retirement, it is prudent to have a plan early. By diverting part of your paycheck into a tax-advantaged retirement savings plan, you can grow your wealth exponentially to cater to you and your loved ones. Both employed and self-employed folks can invest in a retirement savings plan. Yet, according to this …
Most people are aware that they should start putting aside money for retirement, but many hold it off because of the complexity of the task and the sheer number of investment options. However, the reality is that most people can’t count solely on social security benefits to fund a comfortable retirement, making it more important …
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