Retirement Savings

Managing Healthcare Costs in Retirement

Preparing for the Unseen, Ensuring Peace of Mind

Introduction to Managing Healthcare Costs

As you approach retirement, you hope to enjoy your time without stress. However, high healthcare costs can quickly deplete your savings. Therefore, it’s crucial to include these expenses in your retirement planning. Annuities offer a reliable solution by providing a steady income to cover healthcare needs.

Understanding Medicare

For most Americans over 65, Medicare serves as the primary health insurance. It provides substantial support but does not cover everything. Notably, Medicare excludes services such as dental, vision, and hearing care. It also involves co-pays and deductibles. Consequently, some retirees opt for additional insurance like Medigap or Medicare Advantage to fill these gaps, although these plans come with additional costs.

Why Annuities Help

Annuities are particularly effective for managing medical expenses in retirement. By converting some of your savings into regular payments, annuities ensure that you always have funds available to meet medical costs.

Consistent Money
One of the key benefits of an annuity is that it delivers a consistent monthly income for life. This reliability is invaluable as it allows you to manage your budget more effectively. With this steady income, you can comfortably handle regular medical expenses and unexpected health issues alike.

Protecting Your Future
Read More

Target Retirement Savings Goals by Age: Are You on Track?


Saving for retirement is crucial during our working years. It’s a big part of ensuring that you have enough money for retirement. To that end, how much do you need in retirement savings at different ages?

This can be a tricky way to see if you are financially on track. If the goal is set too low, there is the risk of being overconfident and undershooting how much you will really need. If it’s set too high, then people may become discouraged and not do anything. The bottom-line is that retirement savings goals at different ages need to be practical and realistic.

In this article, we will look at simple target retirement savings goals at five key ages: 25, 35, 45, 55, and 65. That will span exploring how much the average American has saved for retirement at these ages, and how much you might want to have saved at those points. We will also go over some things to consider with your financial planning as you get closer to retirement.

Read More

Is It Time to Lock in Those Stock Market Gains?!

Is It Time to Lock in Those Stock Market Gains?!

American markets have been enjoying a recent stock market rally, with some markets posting double-digit increases. It is the nature of the markets to rise and fall. So if you are approaching retirement, this might be the time to begin to lock in your stock market gains. If you’re wondering why, think about it. Many Americans will be relying on their portfolio money for retirement income once they leave the workplace. It may be to pay for spending quality time on the green, sailing, horseback riding, getting away on vacation, or whatever their preferred retirement activities may be.

Older Americans tend to have less invested in stocks because they move their savings out of higher risk vehicles in their pre-retirement years. This is typically to protect their retirement nest egg, since they tend to have less time for recovery. Unfortunately, many Americans are still reeling from losses from the 2008 financial crisis. They are looking at a delayed retirement.

You can take steps to protect the financial gains your portfolio has enjoyed and start preserving your wealth for your retirement lifetime. This may call for a shift in financial focus — a start to evaluating safer retirement vehicles which have a lower risk profile than equities, like annuities and life insurance. It is a good idea to review your portfolio at least once a year, to review to make sure that your portfolio is meeting your goals, objectives, and expectations. As you approach retirement, you may want to begin to transfer your portfolio to a more risk-adverse position and realize any financial growth you’ve achieved before the markets make their natural corrections. Read More

Average American Household Savings Near Retirement

Average American Household Savings Near Retirement

Proactive planning is a critical step for a secure retirement. But just how prepared are American households for their retirement years? Of course it’s important to recognize all households will have different retirement needs. People vary in their life circumstances and objectives, and as a result, their financial circumstances and requirements will also vary.

Some couples may require a seven-figure nest egg to feel secure. Others are confident their Social Security benefits will be suitable for their future needs. Given how Americans have such a wide-ranging outlook on finances in retirement, how people interpret statistics such as average American household retirement savings will vary. What may be the start of a looming crisis for some may be a minor challenge for others. Read More

Ways to Catch Up on Retirement

Taking the Hassle Out of the Holidays

In the past, we’ve looked at retirement planning strategies for specific populations, like self-employed Americans or women. But what if someone is part of the segment of Americans who aren’t that well-prepared for retirement?

According to a survey conducted by, 36% of surveyed adults say they didn’t have a penny saved for retirement. Around 25% of the people aged 50-64 in the survey reported they had yet to start their retirement savings. These findings are consistent with data found in previous surveys. In fact, previous data shows there’s a wide gap between Americans’ retirement expectations and what they’re actually prepared for.

A big part of it is because many American households live paycheck to paycheck. So what steps can you implement to catch up on retirement savings? Read on for some helpful tips. Read More

Next Steps to Consider

  • Start a Conversation About Your Retirement What-Ifs

    retirement planning services next steps

    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

    independent vs captive advice

    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

    safe money working with us

    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

Proud Member