What Happens to your Debt when you Die?
June 9, 2018 / by Admin Upon an individual’s death, they leave substantial amounts of debt. Sometimes, your debt obligation may end upon your death. Beware though that if you didn’t plan accordingly, creditors may wipe out your accumulated investments, assets, or savings. As a...
The Most Neglected Retirement Expense: Long-Term Care
June 8, 2018 / by Admin Effectively retiring from your career involves various expenses. As a retiree, you will need to make certain adjustments in your lifestyle to cope successfully. According to data from the Society of Actuaries, a majority of Americans are ill-prepared to deal...
Impact of Retirement Benefits Possibly Reduced
June 7, 2018 / by Admin OPM’s proposed legislation cuts of federal retirement plans for former and current Federal employees that includes plans to eliminate Federal Employees’ Retirement System supplements who retire at the age of 62 before Social Security starts. The legislation revises a retiree’s FERS Annuity payments from highest salary of...
Top 9 Tips for Planning Your Retirement
June 6, 2018 / by Admin Between 2006 and 2016, there was a 33% rise in Americans aged over 65 to 49.2 million. What’s more, it is expected that by 2060 this figure will double. For this reason, it is imperative that you prepare accordingly as...
Americans at Risk of Bankruptcy during Retirement
June 5, 2018 / by Admin Typically, bankruptcy is a considerable risk for retirees though recent saving trends portend a rosy picture. Data indicates that the number of retirees with less than $10,000 is declining. It fell from 55% to 42%according to a GoBankingRates survey. Besides,...
Majority of Americans Ill-Prepared for Financial Disaster
June 4, 2018 / by Admin In the event of an emergency, 40% of Americans will need to sell something off or take out a loan to raise $400. A 2017 survey of 12,000 people by the Federal Reserve indicates that retirement is far from rosy for...Number of 401(k) Millionaires Increases in 2018
June 3, 2018 / by Admin Apparently, very few people are saving for their retirement. However, the number of new 401(k) millionaires is increasing at a fast rate. Though the 401(k) club is small, the number of employees with over $1 million rose to 157,000 in...
Paying for Long-Term Care without Insurance
June 2, 2018 / by Admin Placing an elderly parent in a long-term care facility is a financially challenging undertaking. This is true even though your parents may have long-term care insurance. Often, in a situation where health insurance may not be sufficient, you may find...
Dealing With Debt For A Happy Retirement
June 1, 2018 / by Admin If you find yourself still struggling with loans and credit card payments now that you’re approaching retirement, you’re not alone. With an average debt of nearly $40,000 in older households, America is still adapting to changes in life expectancy and the...
Top 7 Tips For Evaluating Life Insurance
May 31, 2018 / by Admin Life insurance replaces your income in case of an early demise. It protects a spouse, children, or other dependents. Often it is challenging determining how much life insurance is sufficient for your unique needs. Here are four tips to help...
Don’t Just Rely On Social Security To Help You During Retirement
May 30, 2018 / by Admin Anybody who wants to live comfortably during retirement – that doesn’t involve working part-time – should not rely on just Social Security income. This advice comes directly from the Social Security Administration. According to the SSA, only a minute amount...
An Uncertain Path To Retirement
May 29, 2018 / by Admin Planning for your retirement is a daunting task for most of us, even for federal employees. Various interrelated factors may complicate this process. Nowadays, conventional retirement plans either have disappeared, or existing ones (like FERS) are becoming less adequate. On...
Top 5 Retirement Questions
May 28, 2018 / by Admin Ideally, it is important that you create a written statement of your retirement plan. Your retirement plan should be simple rather than complex or verbose. According to surveys, having a written plan contributes to feelings of satisfaction in the long...
Safeguard Your Retirement with the Right Investments
May 27, 2018 / by Admin Typically, investors receive the same admonishment any time markets perform poorly: don’t abandon ship! You should take this advice with a pinch of salt. Properly, investing your resources depends on your age and financial goals. In the light of...
Maximizing the Sweet Spot Years of Your Retirement
May 26, 2018 / by Admin As you approach your retirement, it is high time you address your tax obligations. Retirement’s sweet spot is the period between formal retirement and when you begin accessing RMDs from your 401(k) plan or your individual retirement plan. Typically,...
Top 4 Tips For Evaluating Life Insurance
May 25, 2018 / by Admin Life insurance replaces your income in case of an early demise. It provides protection to a spouse, children, or other dependents. Often it is challenging determining how much life insurance is sufficient for your unique needs. Here are four tips...
Top 3 Retiree Financial Planning Options
May 24, 2018 / by Admin As you approach your retirement, it is vital that you have access to high quality financial successfully transition your lifestyle. To illustrate the importance of doing so, let’s consider a hypothetical case. Assume you are a 65-year-old couple due to...
