Retirement Income
The 4% Withdrawal Rule in Retirement: Is It a Bad Idea?
One of retirees’ greatest fears is running out of money.1,2 Some of the key questions as you prepare for retirement are, how much money will I need to retire? Will my money last through my lifetime? How much can I safely withdraw every year so that I don’t run out of money? Many financial professionals…
Read MoreRequired Minimum Distribution: What It Is and How to Calculate It
Required minimum distributions are important to your overall income strategy in retirement, but the rules can be complex, especially if you have multiple retirement accounts. Read on for more about what a required minimum distribution is, how to calculate it, and special exceptions for taking an RMD. What Is a Required Minimum Distribution? Put simply,…
Read MoreDiversification: What It Is and Why It Matters to Your Portfolio—and Financial Future
The stock market and investing, in general, can come with high highs and stomach-churning lows. Knowing where to invest your money and how much to invest is a complicated interplay of many factors—investing most or all of your money in one security or stock means you’re fully exposed to the risks associated with that company.…
Read MoreHow to Avoid Emotional Investing
Money is personal—there’s no denying that. You’ve worked hard for it, and it touches nearly every aspect of your life. In the same vein, emotions are ever-present in our lives and affect almost every decision, reaction, and situation we encounter. Market changes, volatility, and chasing gains can cause disappointment, frustration, and panic at the lows…
Read MoreReverse Mortgages: What They Are and If They’re Right for You
Millions of Americans are entering retirement encumbered with mortgages. The proportion of homeowners aged 65+ who still carry a mortgage doubled over the last 30 years—from 21% in 1989 to 42% in 2019. The median loan balance increased to $86,000 in 2019 from $18,000 in 1989. Lastly, and maybe more concerning, over a quarter of…
Read MoreHow Retirees and Pre-Retirees Can Hedge Against Inflation
Today’s dollar buys far less than it did 10, 20, and 30 years ago—much like today’s dollar will not have the same purchasing power in 10, 20, and 30 years in the future, meaning that as time goes on, your money will not stretch as far as it did when you entered retirement. Inflation basically…
Read MoreInflation: What It Is and Why You Should Care
Have you ever heard your grandparent say, “I remember when a gallon of milk cost 30 cents!”? Shoot, you may even have examples from your lifetime! I remember when a gallon of gas was a little over a dollar—and I’m a millennial. There’s one big reason for these stories of “better times” when things cost…
Read MoreThinking of Selling Your Investment Property? Consider a 1031 Exchange
Summertime in Real Estate Means It’s ‘Sizzling’ Peak Season Given both the hot housing market and low mortgage rates, there has been tremendous demand for buyers looking for homes. Over the years, many of our clients have purchased real estate intending to generate passive income. What we often see is that their property has appreciated…
Read MoreWhat Is a Variable Annuity?
Variable annuities can help you meet your long-term financial goals and provide a guaranteed income stream in retirement, but they are not without their drawbacks and considerations. It’s important to understand how variable annuities work and the benefits and risks involved. Variable annuities offer the strongest return potential with the highest risk of all annuities.…
Read MoreWhat Is a Fixed Annuity?
The predictability and stability of a fixed annuity have made it a popular choice for some saving for retirement. Annuities offer a guaranteed income stream that can help supplement your other retirement income sources, like Social Security and 401(k)/IRA distributions. What Is a Fixed Annuity? A fixed annuity is one in which the annuity purchaser…
Read More