For many retirees, the fear isn’t dying too soon—it’s living too long without enough money. Even diligent savers can discover that Social Security and investments alone may not cover all their expenses. That’s where the concept of an “income gap” comes in.
Your retirement income gap is the difference between what you’ll need to live comfortably and the reliable income you’ll have coming in.
According to the Employee Benefit Research Institute, only about 1 in 3 retirees feel “very confident” their savings will last their lifetime. This lack of confidence usually comes down to not knowing how big their income gap really is—or how to close it. Read More
Every October, National Financial Planning Awareness Month serves as a reminder to pause, reflect, and take action on your long-term financial goals. Just as people use spring for “cleaning up” their homes, October is a chance to organize your financial life before year-end.
For retirees and those approaching retirement, this awareness month is more than just a calendar event—it’s an opportunity to evaluate whether your plan for income, taxes, insurance, and investments is truly built to last a lifetime.
At SafeMoney.com, we created this article to answer the most common questions retirees and pre-retirees have about financial planning, retirement income strategies, and how new laws, taxes, and market conditions can impact your nest egg.
What Is Financial Planning Awareness Month?
National Financial Planning Awareness Month was established to highlight the importance of setting financial goals, creating a strategy to reach them, and making sure your plan stays on track as life changes. Read More
Over the next decade, the United States will experience one of the largest financial shifts in history—what experts call “the Great Wealth Transfer.” Baby Boomers, those born between 1946 and 1964, are beginning to pass on their assets to younger generations.
It’s estimated that $68 to $84 trillion will change hands by 2045, with most of that happening in the next ten years. For families, this shift will bring both opportunities and challenges. Preparing now can make the difference between building a stronger legacy—or watching wealth disappear to taxes, fees, or disputes.
What Is the Great Wealth Transfer?
The Great Wealth Transfer refers to the massive movement of assets—savings, investments, businesses, and property—from Baby Boomers to their heirs. This includes:
Retirement accounts like 401(k)s and IRAs
Life insurance proceeds
Real estate (homes, vacation properties, investment rentals)
Family-owned businesses
Stocks, bonds, and other investments
Personal savings and valuables
Baby Boomers currently hold over half of U.S. household wealth, and as they age, that wealth will steadily move to children and grandchildren. Read More
When planning for your family’s financial future, life insurance is one of the most important tools you can put in place. But if you’ve ever researched your options, you’ve probably seen two main categories: term life insurance and permanent life insurance.
While both provide financial protection for your loved ones, they work very differently — and choosing the wrong one could cost you money or leave gaps in coverage. In this guide, we’ll break down the differences between term and permanent life insurance, the pros and cons of each, and how to decide which may be right for you. Read More
Retirement planning is never static. Every few years, Washington passes new legislation that can change how much retirees pay in taxes, what deductions are available, and what support programs are funded. In 2025, the One Big Beautiful Bill—often called the “OBBB”—was signed into law.
We created this article to answer the most common questions retirees and pre-retirees have about how new laws impact life insurance, taxes, and income planning. Our goal is to break down the bill in simple terms, explain the pros and cons, and help you understand what it may mean for your retirement strategy.
When most people think about retirement planning, they picture savings accounts, 401(k)s, IRAs, or Social Security benefits. Life insurance often gets left out of the conversation — seen only as protection for families during working years. But in reality, life insurance can play a vital role in a comprehensive retirement plan.
From income protection and tax advantages to legacy planning and long-term care support, the right policy can help retirees achieve peace of mind well beyond their working years.
Why Life Insurance Matters in Retirement
Even if your kids are grown and your mortgage is nearly paid off, life insurance may still be valuable. Retirement planning isn’t just about ensuring you have enough money to live on — it’s also about protecting your loved ones, creating flexibility, and reducing financial risks.
Life insurance can:
Provide financial protection for a surviving spouse.
Help cover final expenses and debts.
Offer tax-advantaged savings through certain permanent policies.
Act as a tool for legacy planning and wealth transfer.
Support long-term care needs if you add a rider.
In short, life insurance isn’t just for the early years of financial responsibility — it can be a powerful asset throughout retirement. Read More
Indexed Universal Life (IUL) insurance is one of the fastest-growing life insurance products in the U.S. Often marketed as a way to get the “best of both worlds”—protection for your loved ones and the ability to build tax-advantaged wealth—it’s popular among people looking for flexible strategies to supplement retirement income.
But is IUL really as good as it sounds? The truth is, IUL has clear benefits, but it also comes with drawbacks that aren’t always explained in flashy marketing pitches. This article will break down the pros, cons, and common myths about IUL so you can make an informed decision.
What Is Indexed Universal Life (IUL)?
IUL is a type of permanent life insurance that combines:
A death benefit for your beneficiaries.
A cash value component that grows based on the performance of a stock market index (like the S&P 500).
Unlike variable life insurance, your money is not directly invested in the market. Instead, your insurer credits interest to your account based on the index performance, subject to caps and floors (maximums and minimums).
This structure provides growth potential when markets rise while protecting against losses when markets fall. Read More
When people think about life insurance, they often focus on income replacement or protecting loved ones after death. But life insurance is also one of the most effective estate planning tools available. It can provide liquidity, equalize inheritances, and ensure your legacy is carried out as you intended.
This Life Insurance Awareness Month, let’s explore how life insurance fits into a well-rounded estate plan.
Why Estate Planning Matters
Estate planning isn’t just for the wealthy—it’s about making sure your assets are transferred smoothly, fairly, and with as little stress as possible. Without proper planning, heirs may face delays, legal costs, or even disputes. Life insurance offers a unique way to simplify this process.
How Life Insurance Supports Estate Planning Read More
When people think about life insurance, they usually focus on the protection it provides for loved ones. But life insurance also comes with unique tax advantages that make it one of the most versatile tools in a retirement and estate plan.
This Life Insurance Awareness Month, let’s explore the lesser-known tax benefits that can help you and your family preserve more wealth.
1. Death Benefits Are Generally Tax-Free
The most well-known advantage is that death benefit proceeds are paid to beneficiaries income tax-free in most cases. This means your family can use every dollar for living expenses, debt repayment, or other needs without worrying about tax bills.
For larger estates, life insurance can also provide liquidity to help pay estate taxes, avoiding forced sales of property or investments. Read More
When most people think of life insurance, they think of it as a way to provide for loved ones after death. But life insurance also plays a powerful role in protecting retirement income for both you and your spouse.
This Life Insurance Awareness Month, let’s explore how the right policy can help keep your retirement plan on track.
The Retirement Income Challenge
Retirement planning isn’t just about accumulating savings—it’s about protecting those savings so they last. Without safeguards in place, unexpected events can drain your retirement income quickly.
A premature death can leave a spouse without enough to cover living expenses.
Medical bills or debt may eat into retirement assets.
Market downturns can reduce account balances right when income is needed most.
Life insurance can be the “safety net” that ensures your retirement income strategy works as intended. Read More
Start a Conversation About Your Retirement What-Ifs
Start a Conversation About Your Retirement What-Ifs
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What Independent Guidance
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