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Ensure steady retirement income with a low-risk annuity investment

Kevin Cahill, B.Sc.(Hons), CFP, CHS, EPC
Founder, Canadian Legacy Builder

Advice for when you lose your job and forced into early retirement

Keith Klein, CFP®, ChFC®, CLU®, CASL®
Registered Financial Advisor

Create financial security and well-being for your entire family

Tony Rigby
CFP

How to make sure your retirement savings lasts the rest of your life

Terence O’Malley
Elder Law and Estate Planning Attorney, Licensed Financial Advisor

Retiring overseas is possible with careful financial planning

Kimberly Clouse
Covestor Advisory Board Chair and Chief Client Advocate

Make the most of your money and minimize taxes in retirement

Anthony D. Criscuolo, CFP®
Client Service Manager/Portfolio Manager

When to collect social security benefits in retirement

John L. Hillis
President

Expert advice on planning your retirement together

Cal Brown
MST, CFP®

Advice on how to reduce the fees on your 401K retirement account

Wayne Connors
Managing Partner and Portfolio Strategist

Start planning for retirement as soon as you get your first job

Patrick W. Simpkins
Financial Advisor

Retirement Planning

Starting to save money for your retirement is something that you should do right when you start getting regular paychecks and are able to be financially stable. Saving today is different than it was a couple of decades ago, but whether you are part of the Gen Y workforce or about to retire, you need credible and reliable advice from people you trust. Look to ExpertBeacon to help you save for retirement through a 401k, lifetime annuity, and IRAs.

Ensure steady retirement income with a low-risk annuity investment

In North America, over ten thousand people a day, 3.5 million people a year, 35 million people in the next 10 years, 70 million people in the next 20 years turn 65. What is scariest is they’re about to make the biggest financial mistake of their lives. They’re going to commit all of their retirement savings to defending their principle instead of defending their purchasing power, and at that rate, they’re going to run out of money and find themselves overly dependent on the government, or their children, or both.

Create financial security and well-being for your entire family

It has been said that money can’t buy happiness, and poor money management can seriously hamper a child’s start in life. The financial health of a household can have a strong impact on a child’s learning and social-emotional development.

So how can people create financial security for their families and set their kids up for the best chance in life? With a little planning, there are a few, simple strategies that all families, regardless of their income levels, can follow to improve their financial well-being.

Retiring overseas is possible with careful financial planning

Retiring overseas is a “Money Milestone,” an exciting life event that will have a major impact on your financial situation. Reaching a Money Milestone should trigger a comprehensive review of your finances and possibly the implementation of some new strategies. Retiring is a milestone as is moving to another country; so retiring in a foreign country is a double-milestone.

When to collect social security benefits in retirement

Planning when to take Social Security benefits is a key component of preparing for retirement. It is a personal decision and varies person to person. While you can do your research and weigh all of the options, there may not be one clear decision. So, before you decide when to start your benefits, consider the following this advice.

Advice on how to reduce the fees on your 401K retirement account

A recent AARP study found that 70% of 401k participants were unaware their plans charged them any service fees at all. Unfortunately, the reality is, plan service providers do charge fees, many of which are hidden from customers. These fees, over the life of your investment, skim off huge amounts of the fund’s gains. In fact, the better the fund does, the higher these fees become, as most are what are called “asset-value based.” Depending on the length of your participation in the plan, these fees can literally cost you hundreds of thousands of dollars in retirement savings.

Gain control of your financial health for retirement with a budget

Two financial reports are a must throughout life, but are critical at and during retirement. They are the Net Worth and Income Statements which give you information about your financial health. As we age, our health changes and so does our financial health. We take the necessary steps to keep us physically sound, so must we take proactive steps to secure a sound retirement.

A tried and true method is called a budget, and the word ‘budget’ strikes fear in the hearts of many.

Guarantee income in your retirement with fixed indexed annuities (FIA)

One of the most common fears for retirees and those planning for retirement is outliving their money. Not only is this a common fear—it’s a valid one. In fact, according to the National Institute on Retirement Security, Americans are at least $6.8 trillion short of what they need to have saved for a comfortable retirement.

Young people: take a new investing approach to retirement planning

There has been a lot of information swirling around in the news about social security, pensions, and “myRA.” It may make it hard to determine what you need to do to save for your retirement. The landscape of retirement is changing, and the way young professionals will need to save for retirement will be drastically different than the way baby boomers and older generations have saved. Below is some advice on how to save in this new age of retirement.

Key considerations in saving for a confident retirement

Saving money is always difficult, but when it comes to saving for retirement, it becomes especially challenging. Many people don’t know when to start, how much to save, or how to keep track of their portfolios. However, following some simple steps, doing your research, and staying disciplined can help you efficiently and successfully prepare for your retirement.

Expert advice on retirement planning for small business owners

Just as growing a small business is no easy task, finding the right strategy to save for retirement isn’t simple, either. No matter how near or far a small business owner is from retirement, it’s essential to have a long-term savings strategy. You may be like many small business owners and have been so focused on your company that you’ve neglected your end goal.

Understand net unrealized appreciation for your 401K

If you have employer stock in a 401(k), ESOP, or other qualified retirement account - stop and discuss net unrealized appreciation (NUA) with your financial advisor, accountant, and estate planning attorney before you take a lump-sum distribution and roll the plan into an IRA.

Individuals with employer stock in a 401(k), ESOP, or other qualified retirement plan may be entitled to special income tax treatment.

Take control of your future with a self-directed retirement plan

As investors grow more weary of the ups and downs of the stock market, and have seen retirement funds be decimated by the Great Recession of 2008 (and earlier economic woes after 9/11), many savvy investors are turning to self-directed retirement plans. These plans and their alternative investment options have been around since the inception of the IRA in the mid-1970s; but with more people looking to get off the investment roller coaster ride of the last decade, self-direction has been a growing trend in retirement wealth building.

Have the money you need for retirement with lifetime income annuity

When you are looking for an additional lifetime income stream to add to your current Social Security and pension payments, a lifetime income annuity can provide the contractual guarantees to cover your bills, allow you to properly budget, and help provide a worry-free retirement.

Advice for when you lose your job and forced into early retirement

If your retirement plans did not necessarily include early retirement, but you received a termination letter, you’re not alone. Workers nearing retirement and getting laid off unexpectedly has become more and more commonplace. Regardless of whether your early retirement is a result of corporate downsizing, redundancy cut-backs, health problems, or family reasons—it’s time to make a new plan or adjust your original retirement plan.

How to make sure your retirement savings lasts the rest of your life

Financial planning for seniors requires recognition that an adjustment in lifestyle may be required to avoid outliving one’s wealth. Depending on how much money you will be getting for retirement, you could find yourself having to get a part time job in order to cover unforeseen costs. Follow this advice to ensure your retirement income will last for the rest of your life.

Make the most of your money and minimize taxes in retirement

Many people look forward to retirement as a time to let go of the day-to-day worries that they had to deal with during their working lives. But even in retirement, Uncle Sam demands his due. Taxes remain a constant and, for retirees who don’t plan carefully, they can take a serious bite out of retirement savings. Yet with some thoughtful financial planning, you can minimize your tax burden, leaving more of your savings available to make your retirement comfortable and rewarding.

Expert advice on planning your retirement together

As a couple, what should you do…and NOT do…when planning for your retirement? As you can imagine, every situation is different, and individualized advice is best. However, there are some general dos and don’ts that will apply to most people.

Start planning for retirement as soon as you get your first job

When many people first start their careers, retirement is not top-of-mind. After all, retirement is something that is 30 to 40 years away, right? That may be the case, but planning for retirement should be a career-long process. You don’t want to get to what you think is the end of your working days and then discover that you simply don’t have enough funds to live comfortably. If retirement planning is a focus from an early age, you’ll find yourself on much more solid financial footing decades down the road.

Understand the differences between deferred and immediate annuities

An annuity is a contract between an insurance company and an individual in which the insurance company makes a series of guaranteed income payments in return for premium from the individual. The retirement landscape is changing, and an annuity can be a great way to help achieve a secure retirement. In fact, only an annuity can pay an income that can be guaranteed for the rest of an individual’s life. There are several different types of annuities, each designed to meet a specific guaranteed income need. An annuity is considered either deferred or immediate. A deferred annuity has an accumulation period, which is the time between when premiums are paid and when income payment begins, which could be years later. An immediate annuity has no accumulation period. The income payments start no later than one year after the premium has been received by the insurance company. Below is a breakdown of the most common types of deferred and immediate annuities.

Plan for retirement and get the most out of Social Security benefits

Social Security can be an important part of your retirement income. Knowing your options will help you make the most of your benefits and avoid costly mistakes.

Save for retirement the moment you land your first job after college

So you worked your way through college, received your degree, and are fortunate enough to have landed your first full-time position out of school. For many people, the leap into the “real world” is a bit intimidating, while others are thrilled to put classes, homework and exams behind them and start working. Many individuals will be earning a substantial salary – higher than they’ve ever earned before – and with that comes an increase in expendable income.

Planning for health care costs is vital to successful retirement

There are typically three images that people have when considering retirement: exotic vacations, tropical drinks and crippling health care costs. While you may think Medicare and other programs will take care of many of your expenses, in reality, estimating the cost of future health care expenditures is one of the most difficult processes of retirement planning. This article will explain why planning for your health care costs is critical to a successful and tranquil transition into retirement.

How to benefit from rolling over your 401(k) to an IRA

There are many things to consider when deciding if you should roll your 401(k) to an IRA. Like anything else when it comes planning for the future, it’s important to look at all of the options, come up with a plan, and see it through. When managed correctly, IRA’s can be an effective way to plan for your retirement, but you need to consider issues like fees and expenses, consolidation, and staying on top of your accounts when looking into a roll over. Here are some simple principles to follow when starting the process.

Know how to financially plan for retirement so you can retire on time

Planning for your future is absolutely critical if you want to retire comfortably and on-time. Many Americans find that they aren’t adequately prepared to leave the workforce because they believe retirement planning is an overly complicated process. While there are many things to consider - from your current expenses, to debt, to where you plan to live once you retire - the most important thing is that you have a plan in place and stick to it. Here is some simple advice to follow when starting to plan for your retirement.

Expert advice on choosing lifetime income annuity program

Annuities are the only product that can guarantee a lifetime income stream, regardless of how long you live. A lot of today’s current and future retirees are worried about outliving their money, so an appropriate “transfer of risk” annuity strategy for lifetime income can help enhance and add to current retirement income streams.

Gen Y workers must start saving and investing early for retirement

Roughly four out of ten Gen Y workers, also known as millennials, do not have a clear strategy for retirement. As a result, these members of the workforce may have trouble retiring on their own terms. Learn the ins and outs of building an effective retirement saving strategy that allows you to make regular savings contributions in the most effective way possible with this expert advice.

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Retirement Planning