Essential Questions to Ask Your Financial Advisor About Your Portfolio and During Annual Reviews
When it comes to managing your finances, staying informed and engaged is crucial. Regularly discussing your investment strategy and financial plans with your advisor can help you navigate changes and ensure you’re on track to meet your goals. Knowing the right questions to ask can make these conversations more productive. This article will guide you on the key questions to ask your financial advisor about your portfolio and during annual reviews, helping you gain clarity and confidence in your financial future.
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The Shaquille O’Neal Approach: Why Annuities Should Be a Key Part of Your Financial Portfolio
When Shaquille O’Neal speaks about success, people listen. A basketball legend with four NBA championships and an enduring legacy, Shaq has made a name for himself not just on the court, but in the business world. As of 2024, his net worth is an astounding $500 million, and while many might assume that his wealth stems from high-profile endorsements, tech stocks, and brand partnerships, Shaq recently revealed the secret that has given him lasting financial security: annuities.
This financial tool, often misunderstood or overlooked by the general public, has been the bedrock of Shaq’s wealth management strategy. But what exactly are annuities, and why should they matter to you, even if you’re not worth millions? Shaq’s investment in annuities offers a lesson in financial stability and security, one that everyone—regardless of income—can benefit from. Here’s why annuities are a crucial component of any portfolio. Read More
What’s your plan to replace your income in retirement?
As retirement approaches, one of the biggest concerns for many is how to replace the steady paycheck they’ve relied on during their working years. Without proper planning, retirees can find themselves facing a financial shortfall that impacts their lifestyle and long-term security. That’s why understanding income replacement strategies is crucial to maintaining financial independence and ensuring a comfortable retirement. This article explores key strategies for replacing your paycheck in retirement while focusing on financial security.
Understanding Income Replacement in Retirement
Income replacement refers to strategies that generate enough income to sustain your lifestyle after you stop working. While Social Security benefits can provide some income, they are rarely enough to fully replace a working paycheck. This gap often leaves retirees searching for additional sources of income to maintain their quality of life.
When planning for retirement, one important goal is to replace around 70-90% of your pre-retirement income. This is often referred to as the “income replacement ratio.” The percentage you need depends on factors like your lifestyle, healthcare expenses, and whether you have debts or other financial responsibilities.
To address this need, retirees must develop a plan that combines multiple income streams, including Social Security, pensions (if available), savings, and investments. Read More
Retirement planning often involves a delicate balance between securing long-term financial stability and maximizing tax efficiency. One lesser-known but powerful strategy that retirees can leverage is the 1035 exchange, a provision in the Internal Revenue Code (IRC). This tool allows for the exchange of one insurance product for another, offering tax advantages and flexibility in tailoring your financial future.
While SafeMoney.com provides an in-depth exploration of the mechanics of a 1035 exchange, this article delves further into additional considerations, strategies, and real-life applications to help you optimize your retirement plan.
What is a 1035 Exchange?
A 1035 exchange refers to the replacement of one life insurance policy, annuity, or endowment with a similar product, without triggering a taxable event. This provision is found under IRC Section 1035, allowing the transfer of gains from an old policy into a new one without the need to pay taxes on those gains at the time of the switch. This can be a powerful tool when upgrading to more favorable financial products that better align with your evolving retirement goals.
Types of 1035 Exchanges
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As you approach retirement, ensuring you have the right guidance is crucial to your financial well-being. A professional retirement advisor can help you navigate the complexities of income strategies, tax planning, and asset protection. But the question remains: how do you find the best retirement advisor near me?
This guide will show you the steps to finding a trusted local advisor and why the Safe Money Certified™ program offers an ideal option for those looking for secure, conservative retirement planning. Whether you’re looking for someone to help you navigate annuities, Social Security, or overall financial planning, choosing a qualified, local expert is essential.
Why Finding a Local Retirement Advisor Matters
When searching for a retirement advisor, proximity plays a significant role in ensuring personalized and ongoing support. A local advisor can offer face-to-face meetings and deeper knowledge of state-specific tax laws, estate planning rules, and healthcare options—all of which may vary by region.
Working with a retirement advisor near me means that you have easy access to a professional who understands your financial landscape and can tailor strategies to your personal circumstances. Plus, having a local advisor means you can meet regularly to adjust your retirement plan as your goals or needs change.
The Importance of Retirement Planning
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If you’re new to philanthropic financial planning, you might wonder why it’s important. This strategy helps people make the most of their charitable giving while securing personal financial benefits, like tax savings and future income. By using tools such as life insurance and annuities, you can support causes you care about, while ensuring your financial health and leaving a lasting legacy. Whether you’re planning for retirement, managing your estate, or simply looking to give back in a meaningful way, this approach helps you maximize both your impact and financial security.
In today’s financial world, philanthropic financial planning plays a vital role for individuals and families looking to make a lasting impact while managing their wealth efficiently. For those who want to integrate charitable giving into their long-term financial goals, the strategic use of life insurance and annuities can offer unique benefits. By incorporating these tools into a well-structured financial plan, donors can maximize their contributions to charitable causes while achieving tax savings and ensuring a secure financial future.
What is Philanthropic Financial Planning?
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When it comes to financial security and retirement planning, life insurance and annuities play pivotal roles in ensuring long-term peace of mind. However, many individuals have concerns about these products, particularly regarding their safety, solvency, guarantees, and ability to provide the highest possible retirement income. This article will address these crucial concerns to help you make informed decisions.
1. Safety (Ratings)
One of the most important considerations when choosing a life insurance or annuity provider is the financial safety of the company offering these products. This safety is usually assessed through financial strength ratings provided by independent rating agencies. These agencies evaluate the company’s ability to meet its financial obligations, including paying out death benefits, annuity income, and other guaranteed payouts. Read More
Medicare Open Enrollment happens every year from October 15 to December 7. If you’re enrolled in Medicare, this is your chance to review your coverage and make changes for the upcoming year — starting January 1, 2026.
Whether you want to switch your Medicare Advantage plan, change your drug coverage, or go back to Original Medicare, here’s what you need to know for 2026 — including key updates and cost changes.
What Is Medicare Open Enrollment?
Medicare Open Enrollment (also called the Annual Election Period) is when you can:
- Switch between Original Medicare and Medicare Advantage
- Change from one Medicare Advantage plan to another
- Enroll in, drop, or switch Part D (prescription drug) plans
Any changes you make will take effect on January 1, 2026.
What’s New for 2026?
There are a few important updates to Medicare for 2026. Here’s a breakdown:
✅ Higher Part B Costs
- Monthly Premium (Standard): Estimated to rise to $206.50 (up from $185 in 2025)
- Annual Deductible: Projected to be $288 (up from $257)
These increases will affect most Medicare beneficiaries, especially those on Original Medicare.
✅ Part A Deductible Increases
- The hospital deductible is expected to rise to $1,716 (up from $1,676 in 2025)
This affects those who need inpatient hospital stays under Original Medicare.
✅ Changes to Medicare Advantage (Part C)
- The maximum out-of-pocket cost for in-network services is going down to $9,250 (was higher in 2025)
- Many Advantage plans may offer added benefits, but check each plan to compare
✅ Part D (Prescription Drug) Updates
- Out-of-pocket cap: Now set at $2,100 for the year (up from $2,000 in 2025)
- Plan deductible limit: Increases to $615 (up from $590)
This means drug coverage could cost a bit more, but there’s still a cap on what you’ll pay out-of-pocket.
✅ Prescription Payment Plan (New Feature)
If you have high drug costs, you can now spread payments out over the year instead of paying all at once. This Monthly Prescription Payment Plan (MPPP) will automatically renew in 2026 unless you opt out.
✅ Higher Costs for High Earners (IRMAA)
If your income is above a certain level, you’ll pay more for Part B and Part D. These income-based surcharges are increasing again in 2026.
What’s Staying the Same?
- The Open Enrollment dates: October 15 – December 7
- You can still change Medicare Advantage and Part D plans during this time
- If you’re already in a Medicare Advantage plan, you’ll also have a second chance to make one change between January 1 and March 31
How to Prepare for Enrollment
Here are some tips to get ready:
1. Review Your Current Plan
Look at how much you paid for premiums, deductibles, and copays this year. Did your plan cover your doctors and prescriptions?
2. Compare Plans Online
Use the Medicare Plan Finder
tool to see what’s available in your area.
3. Check for Changes
Plans change every year — check your Annual Notice of Change (ANOC) letter for 2026 updates.
4. Watch for Mail
You’ll receive information from Medicare, your current plan, and any new plans in your area.
5. Ask for Help
Talk to a licensed Medicare agent, or contact your State Health Insurance Assistance Program (SHIP) for free help.
Final Thoughts
Medicare can change year to year — and 2026 brings several cost increases and a few program updates. The good news is that you have options. Take time to review your plan, compare others, and make the best choice for your health and your wallet.
Need help? Talk to a licensed agent or visit Medicare.gov
Seeking Personalized Guidance?
If you’re looking for tailored advice, reach out to a financial professional. Visit our “Find a Medicare Specialist” section to connect with an expert directly. For a personal referral for your first appointment, call us at 877.476.9723 or contact us here to schedule an appointment with an independent, trusted, and licensed Medicare specialist.
🧑💼 Authored by Brent Meyer, founder and president of SafeMoney.com, with over 20 years of experience in retirement planning and annuities. Discover more about my extensive background and expertise here. I am not a Medicare specialist. The information provided in this article is based on research and should not be considered professional advice. For personalized Medicare guidance, please consult a licensed Medicare specialist or financial advisor.
Sources
MedicareResources.org
Kiplinger – Medicare Changes for 2026
Kiplinger – 2026 IRMAA Projections
Medicare.gov
As technology advances, more investors are turning to automated financial solutions, such as robo-advisors, to manage their investments. One product gaining traction in this space is the Robo MYGA Annuity, which merges the benefits of a traditional Multi-Year Guaranteed Annuity (MYGA) with the convenience of an automated platform. While the appeal of lower costs and ease of use is strong, it’s important to recognize that personalized financial advice often offers invaluable benefits, especially when it comes to products like annuities, where individual circumstances and long-term financial goals play a critical role.
In this article, we’ll explore what a Robo MYGA Annuity is, its advantages and disadvantages, and why seeking personalized advice from a financial advisor may be the better choice for most investors. Along the way, we’ll also touch on key concepts like the income annuity calculator and annuity interest rates to help you make more informed decisions.
What is a Robo MYGA Annuity?
A Robo MYGA Annuity is a Multi-Year Guaranteed Annuity that is sold and managed through an automated or digital platform. A MYGA is a type of fixed annuity that guarantees a set interest rate over a specific term, usually ranging from 3 to 10 years. This makes it a popular option for conservative investors who seek predictable returns without the volatility of the stock market.
The “Robo” aspect refers to the fact that these annuities are purchased through a robo-advisor platform, allowing investors to bypass traditional financial advisors. The appeal lies in the simplicity of the process: investors can purchase and manage their annuities entirely online, often at lower upfront costs than through a traditional advisor. Read More
As 2024 unfolds, concerns about inflation, market volatility, and interest rates are leading many to reconsider where they store their money for long-term security. Traditionally, keeping “money in the bank” has been considered one of the safest strategies. But in today’s economic environment, that approach may not be as beneficial as it once was. While banks offer convenience and liquidity, they may fall short in providing optimal protection and growth, especially when compared to alternatives like deferred retirement accounts offered by insurance companies.
This article will explore why some individuals are rethinking how much money they keep in traditional savings accounts and why deferred retirement accounts—such as annuities and other insurance-backed products—are becoming an attractive alternative. We’ll also compare the guarantees offered by banks and insurance companies and evaluate how current economic conditions impact these choices.
Why People Keep Money in the Bank
For many, keeping money in a bank offers peace of mind. Banks provide convenience, easy access to funds, and FDIC insurance, which guarantees deposits up to $250,000 per depositor, per insured bank. This gives depositors a sense of security, knowing that even if their bank faces financial difficulty, their funds are protected.
Banks also play an essential role in day-to-day financial management. Checking and savings accounts, along with services like loans and credit cards, make it easier to handle short-term expenses. However, when it comes to long-term savings and retirement planning, relying heavily on bank savings accounts may not be the best approach, especially given the current economic environment.
The Economic Environment in 2024
The financial landscape of 2024 presents several challenges for those managing savings and investments. These challenges include persistent inflation, volatile interest rates, and market uncertainty, all of which influence today’s financial decisions. Read More
