, What Does Your Advisor Use for Retirement Income Planning Strategies?


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What Does Your Advisor Use for Retirement Income Planning Strategies?

As another year passes by, more people join the ranks of retirees. Since 2011, roughly 10,000 baby boomers have turned 65 years old each day, according to Pew Research. It predicts that trend to go on until 2029.

From second-act careers to volunteering and entrepreneurship, baby boomers are already reshaping the mold of retirement. And they are bound to keep redefining it, as record-breaking millions are set to leave the workforce.

With a new era of retirement living on the horizon, it’s prudent to take note of our retirement income planning strategies.

Why Long-Term Care Planning is Essential for Boomers

Without long-term care insurance, the cost of a nursing home stay or a home health care aide could wreak havoc on your finances and whittle away at that nest egg you've worked so hard to build. As millions of baby boomers in the United States reach old age every year, experts predict the number of long term care patients will double over the next 30 years. What does that mean for you? It means that if you don't have a long term care plan in place, you and your family may have to face some ...

Amid COVID Crisis, Many Savers Eye Fixed-Term Annuities

A fixed term annuity provides a regular retirement income for a number of years.Pension and life insurance companies are reporting a major up tick and demand for fixed term annuities since the coronavirus outbreak started, with the number of applications almost 4 times higher in May than at the beginning of the year. The increased interest is from people who are concerned about the uncertainty COVID 19 has created as well as the ensuing stock market volatility. The coronavirus ...

Teen Drinking and Your Liability

Drinking may be a “rite of passage” for teens, but when it occurs in your home you may be held responsible for their actions.Despite the overwhelming research documenting the health and behavioral consequences of underage drinking, some parents believe that allowing minors to drink under their supervision may lead to more responsible drinking in their adult years. Other parents believe that allowing minors to drink in the home is a better alternative to drinking outside the home.Regardless ...