In an age where advancements in healthcare and lifestyle choices are increasing our life expectancies, the concept of longevity risk is becoming more prominent in our financial planning. Longevity risk refers to the potential for individuals to outlive their financial resources, leaving them in a precarious situation during their later years. Understanding this risk and …
What is Longevity Risk and How Do I Protect Myself? Read More »
Everyone dreams of a comfortable retirement. Unfortunately for many, poor planning leads to insufficient retirement savings. According to the Congressional Research Service, in terms of the cash amounts used to define poverty status in 2021, 10.3 percent of the elderly population had incomes that were below the poverty standards. The overall number of elderly people …
In its most basic sense, retirement planning is about playing the “bidding time” game. You sequentially put money into your investment, wait for it to grow with time and interest, retire, and start withdrawing the money you kept for countless years. Sounds easy, right? In a perfect world, an investment could look as simple as …
If you’re like many of us, you’ve been on a wild ride in the markets this year, and you may have seen your 401(k) account balance decrease, maybe substantially. This can obviously be very scary, especially if you’re near your retirement years. Fortunately, there are things you can do to shore up your retirement funds …
Since 2021, the world has been in hyperinflation, and there’s no sign that we’ll return to the regular rates that were present in the past decade any time soon. From an average of 2.2%, we’ve risen to over 8% in the last year alone, with some goods shooting higher in price than others. What does …
If you’re starting to plan for your retirement, chances are you’ve probably thought about purchasing an annuity. More and more people are looking to annuities as pension plans are no longer viable sources in most places of work. Annuities can be used with your social security and any other retirement savings you have. It’s a …
4 Signs an Annuity Can Help Fund Your Retirement Read More »
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