Retirement Planning Blog

How Do Multi-Year Guarantee Annuities Work?

How Do Multi-Year Guarantee Annuities Work?

For retirement savers wanting more growth potential than what CDs and other fixed-interest assets might offer, fixed index annuities can be an attractive option. Indexed annuities can earn more interest over time than what these other options might.

Even so, some people would rather know that they are earning a guaranteed rate of interest. They are more comfortable with a minimum interest rate for their money’s growth.

Multi-year guaranteed annuities, or MYGA annuities, can fill this role for those who want a guaranteed interest rate with full protection of principal.

Multi-guarantee annuities are backed by the same dollar-for-dollar reserve requirements that apply to fixed and indexed annuities.

That means that for every dollar of MYGA premium that is issued, the insurance company must keep at least one dollar in its cash reserves to cover the outstanding amount. Read More

How You Can Protect Against Identity Theft: 4 Simple Strategies

How You Can Protect Against Identity Theft: 4 Simple Strategies

The following guest post has been contributed by Emily Kalan of Crediful. Emily is an experienced blogger that writes about all things finance, including debt, home ownership, loans, and financial identity protection.

Identity theft is far more common than you think – it’s one of those things that you hear about but don’t think it will ever happen to you. And it can be a particularly troubling problem to deal with when you are in retirement.

The reality is that millions of Americans suffer from identity theft every year, and it can leave you feeling targeted, vulnerable, and unsafe.

Thankfully, there are ways you can protect yourself against identity theft without having to spend hundreds of dollars on protective services. Keep reading to find out how!

Looking for identity protection for families? Then head on over to Crediful.com and check out our in-depth post on some of the best identity theft protection services. Read More

What Is Interest Rate Risk?

What Is Interest Rate Risk?

Turn on the TV or radio, and chances are you might hear of volatility hitting equity markets at some time or another. But what you might not hear as much about is the risk facing CDs, bonds, Treasury securities, and other fixed-interest holdings: interest rate risk.

What is interest rate risk? It’s a particularly important topic for retirees. After all, many retirement portfolio strategies use fixed-interest holdings to generate stable retirement income or to smooth out volatility in a portfolio.

These fixed-income assets also tend to be the place where millions of Americans protect their money. Or they may park cash there for short-term to medium-term goals. So, long story short, interest rate risk can have implications for millions of people

So, how should we define interest rate risk — and how might affect you? Let’s get into it. Read More

How Can a Financial Advisor or Agent Help Your Retirement?

How Can a Financial Advisor or Agent Help Your Retirement?

Planning for retirement isn’t easy. It’s complex and has many moving parts. For one thing, you will need to have enough income to last for the rest of your life once you step away from a full-time career.

Taxes, healthcare, and inflation are just a few things that can eat into your money. Not only that, you might have a longer retirement than you would think. Nowadays, thanks to advances in healthcare and technology, many people are spending as much as one-third of their lives in their post-retirement years.

How, then, can you plan for a financially confident future? A financial professional’s guidance can help you go the extra mile in many ways. They can help you evaluate your current financial progress. They can also help you spell out your goals, foresee retirement risks, and build personal strategies to assist you in your objectives.

Here are a few ways that hiring a financial advisor or agent can help your retirement in the long run. Read More

Retirement Planning Tips for Solo Agers

Retirement Planning Tips for Solo Agers

With record numbers of baby boomers retiring, many new trends are coming into the retirement landscape. Among boomers, there is one growing trend of “solo agers,” or those who retired without marrying anyone or having any children. According to the American Society on Aging, around 20% of boomers fit this trend.

If you are a solo ager, here are some questions to ask when planning for your retirement. How you answer these questions can be crucial in helping you enjoy a comfortable and financially confident retired lifestyle. Read More

What Type of Annuity Is Right for You?

What Type of Annuity Is Right for You?

So, you have decided that an annuity makes sense for your retirement. But what type of annuity might be right for you? This will depend on the answers to a variety of questions.

What is your risk tolerance? What timeline do you have for your money? What annuity guarantees are important to you? What you hope to accomplish with the annuity contract? All of these considerations and more are relevant to what annuity might be a good fit for you.

Here are some questions to consider as you think about what annuity might be right for your situation. Read More

5 Things You Should Consider Doing for Your Aging Parent

5 Things You Should Consider Doing for Your Aging Parent

Editor’s Note: The following article is a retirement guest post that has been authored and contributed by John Freeman.

Watching our parents age can be difficult as they begin to need more assistance with different aspects of their lives. While your parents likely want to maintain as much of their independence as they can, and they should, you should be there to lend a helping hand when they need it.

More than 65 million Americans provide care for an aging, chronically ill, or disabled family member each year. And, since the U.S. has an aging population, with geriatrics outweighing younger demographics, more and more individuals will be taking on this role—many of whom are not adequately prepared.

If you are one of these individuals, or are simply trying to figure out how you can be useful to your parents as they age, there are certain aspects of their lives that you can help them handle to make the transition easier, starting with these 5 things. Read More

When It’s Time to Move Your Portfolio from Growth to Income

When It's Time to Move Your Portfolio from Growth to Income

Earlier in your career, you focused on saving and growing your money so you could pursue your financial goals later in life. You might have worked with a financial advisor to do this.

Over the years, you socked away money in a retirement account and maybe even grew an overall portfolio. That meant having and following a strategy with a focus on accumulation and asset allocation. But as we reach the so-called retirement red zone — that crucial period of a decade before and into retirement — new planning is essential.

The income you earned from your career likely won’t be the same once you retire. Then there is the challenge of making your money work for you.

How do you ensure that the income you draw from your portfolio is as efficient and tax-wise as possible? You want to be sure that your money lasts as long as you need it to in retirement! Read More

What Franklin Templeton’s RISE Study Teaches Us

What Franklin Templeton's RISE Study Teaches Us

Franklin Templeton’s annual Retirement Income Strategies and Expectations Survey (RISE Survey) was recently released for 2020. This is the ninth year that the RISE Survey has been published.

The survey examines the concerns and attitudes of retirement savers. And it contains some very interesting data for retirement planners and savers alike.

In it, people of many generations share whether they think they are ready for retirement. The survey also covers what they are doing to accomplish their financial goals before they stop working.

As usual, this year’s RISE Survey wasn’t any different in the insights it drove home. Here’s a roundup of some findings that might be helpful for your own retirement planning efforts. Read More

How Can Guarantees Help You in Your Retirement Plan?

How Can Guarantees Help You in Your Retirement Plan?

Annuities can bring more stability and certainty to a retirement portfolio. But how do you know you are getting a good deal for your money?

The biggest advantage that annuities can give for your retirement is their guarantees. Or in other words, the contractual assurances that the contract-issuing insurance company promises to provide you.

For your retirement, you might already have a number of financial guarantees that will contribute to your retirement security.

You paid into the coffers of Social Security during your career. In exchange, Uncle Sam guarantees you will receive a monthly paycheck from the SSA once you begin your benefits.

If you buy Treasury securities, you are guaranteed a return of your initial principal once the bonds mature. The bonds also pay you guaranteed semiannual interest payments during the maturity period. You also have these same guarantees when you hold a CD from the bank. Read More

Next Steps to Consider

  • Start a Conversation About Your Retirement What-Ifs

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    Start a Conversation About Your Retirement What-Ifs

    Already working with someone or thinking about getting help? Ask us about what is on your mind. Learn More

  • What Independent Guidance
    Does for You

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    What Independent Guidance
    Does for You

    See how the crucial differences between independent and captive financial professionals add up. Learn More

  • Stories from Others
    Just Like You

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    Stories from Others
    Just Like You

    Hear from others who had financial challenges, were looking for answers, and how we helped them find solutions. Learn More

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