News & Updates

RMDs

Common Confusion

There still seems to be confusion among retirees about the changes in the law affecting required minimum distributions, or RMDs.  Beginning a few weeks ago, on January 1, 2023, the starting age for RMDs rose

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Keep saving

Remember to Keep Saving

This article reminds you to stick to your goals and keep saving. “If you are already saving, whether for retirement or another goal, keep going! You know that saving is a rewarding habit.  If you’re

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rules

2023

The year 2023 brought with it a number of changes to the rules governing retirement deposits and withdrawals. This includes changes, in both this and future years, for RMDs from tax-advantaged retirement accounts. New legislation

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purchasing life insurance how much life insurance do I need

How Much Life Insurance Do I Need?

This week’s article may help you to think about why you are purchasing life insurance. There are several different reasons why you would purchase life insurance: Once you understand why you’re purchasing life insurance, that

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fraudsters

Con Artists and Fraudsters

The National Council on Aging reports that financial scams targeting older adults are on the rise. According to the Federal Bureau of Investigation in 2021, there was a 74% increase in losses to older victims

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children

Children and Grandchildren

Often when we ask ourselves ‘Have I saved enough for retirement?” we’re really just asking if we can afford to give financial gifts or assistance to our children or grandchildren. The difficult part in answering

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foundation of financial literacy

A Foundation of Financial Literacy

We are often asked about “financial literacy.” The phrase refers to the ability to understand and use various financial skills, and is the foundation of your relationship with money. A strong foundation of financial literacy

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caught off-guard

Don’t be Caught Off-Guard

We are always reading articles reminding us that social security is often not enough to support our needs in retirement. No one should be financially caught off-guard when they retire, which is why it may

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The “What Ifs” Down the Road

We’ve received some inquiries this past month about a few topics. “What if” you end up having to go into a nursing home? “What if” you’re living in an independent living facility and need to

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to consider

What to Consider

This recent article (click here to read) is about what key features to consider when choosing a fixed index annuity during a time of market unease. It helps us to understand details like how FIAs

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Enough

When is Enough Enough?

Even if you’re able to add up what you spend today, trying to determine what you will need when you retire is difficult because your spending is sure to change. While perhaps you won’t have

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need gap

The Need Gap

“According to the 2022 Insurance Barometer Study, conducted by LIMRA and Life Happens, 106 million adults lack life insurance, or adequate coverage. The need gap, what people have versus what they said they need, is

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Insurance

Insurance

As we’ve seen from the news over this past week, many were caught up in the hurricane, and many did not have insurance that suited their needs. This is the case for many people because

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insurance company grade

What Does An A+ Mean?

We all remember our school days of worrying about the grades we would receive. What does it mean when an insurance company gets graded? Insurance companies are rated with a letter grade to indicate their

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withdrawal rate

The Four Percent Rule

Someone asked us this past week if we would explain what the “Four Percent” rule is and how it came about. The Four Percent rule is based on a study by a financial advisor named

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Retirement

What Assumptions Apply to You?

There was an interesting article the other day in the Wall Street Journal. The article discussed a recent survey of workers in their 60’s who were asked about their retirement preferences. The author found that

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Happiness

What Can Money Buy You?

“Money can’t buy happiness” is an adage that some people live by, and others ignore. According to a recent Purdue study: “income can correlate with emotional well-being and life satisfaction.” But, as a recent GoBankingRates

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indexed investment

How You Make Money With an Annuity

A fixed indexed annuity is a type of annuity contract between you and an insurance company. It generally promises to provide returns that are based on a link to the performance of a market index.

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