Maximizing Retirement Benefits: A Guide to SEP-IRAs for Small Businesses
In an era where retirement planning is essential, small businesses often struggle to find accessible and cost-effective retirement solutions. Luckily, a handful of retirement plan options work well for small businesses. Among these, the Simplified Employee Pension plan, or SEP-IRA, stands out as versatile. This article explores SEP-IRAs,...
Peak 65 – A New Era in Retirement Demographics
A significant milestone is on the horizon for millions of Americans: turning 65. With four million Baby Boomers projected to reach this milestone this year, the phenomenon known as Peak 65 is set to usher in a new era of retirement demographics. However, amidst the...
How You Can Tackle Long-Term Care Costs in Retirement
As we approach retirement, we must consider the potential long-term care costs. While none of us like to consider needing assistance in our later years when enjoying our prime earning years, preparing for these expenses can provide peace of mind and financial security. Approximately 70 percent of...
Discover How Much Money Americans Need for Financial Independence
We all dream of achieving financial independence— reaching that point where we no longer rely on paycheck-to-paycheck living or worry about financial constraints. A recent survey by Empower Financial Services found that 67 percent of Americans consider achieving financial independence significant. But what does it indeed mean...
The Silver Tsunami: Trends and Challenges in Retirement
The year 2024 marks a significant milestone in the US population! According to a study by the Alliance for Lifetime Income’s Retirement Income Institute, a record-high 4.1 million Americans reach the age of 65 this year. This has sparked what experts call the "silver tsunami" of...
Closing the Retirement Savings Gap
Exploring Innovative Solutions with Insurance Products to Address the Retirement Savings Gap As we peer into the future, the specter of the “silver tsunami” looms large, revealing a disconcerting trend in retirement planning. Research paints a stark picture, projecting that gaps in investors' retirement savings are...
A Good Credit Score Matters Even After You Retire
If you are one of the smart retirees who has paid off your credit cards, cars, and mortgage and has enough money (saved and invested) to sustain yourself throughout retirement, you no longer require a good credit score, right? Wrong! Many retirees often overlook the importance...
Leveraging Government Pensions for Retirement Security
According to new research from the National Institute on Retirement Security, 83 percent of Americans say all workers should have a pension. Over 75 percent of Americans agree that those with pensions are more likely to have a secure retirement. Planning for retirement can be daunting,...
The 50/30/20 Budget Rule as a Guide for Graduates
As recent graduates embark on their journey into the professional world, mastering personal finance becomes crucial to their transition to independence. One popular budgeting framework that has gained traction, especially among young adults, is The 50/30/20 Budget Rule. This rule offers a straightforward approach to managing finances,...
Enhancing Retirement Benefits: Innovative Approaches for Life Insurers
Insurance provides vital protection, enhancing retirement benefits and ensuring that your loved ones won’t suffer severe financial strain in the event of an unexpected loss of income, disability, or death. “However, insurance serves more than just protecting dependents in unforeseen circumstances,” advises Joseph Aspelund, Director of...