How To Beat The Three Greatest Retirement Risks

There are three risks that are most likely to derail retirement plans. The risks are real and substantial, almost regardless of an individual’s net worth. Fortunately, the potential damage from the risks can be reduced. Longevity risk is talked about a lot by economists and financial advisors but not by many retirees and pre-retirees. While […]

2021 Retirement Drawdown Strategies For High-Net-Worth Retirees

Prior to passage of the SECURE Act, I posted suggestions for drawdown strategies for the wealthy. A lot has happened in the eighteen months since that post, and strategies for all prospective retirees have changed. The pandemic upended the economy, we have both a new President and a new Congress, and life expectancies have changed. […]

Integrating Life Insurance With Lifetime Income

This article is part of a series. Click here to read the previous articles. Scenario 4 also uses term life insurance, but the difference is that partial annuitization takes place with a joint life income annuity at the retirement date. The use of an annuity allows for a slight increase in the distribution rate from […]

Outliving Your Money: The 4% Rule Versus Asset/Annuity Combos

Retirees with limited assets face the specter of outliving them. The only assurance offered by investment advisors that this will not happen is application of what is called the 4% rule. The rule says that if the retiree draws 4% of his assets every year and increases the draw amount by 4% every year, the […]

Tax Tips For Filing Your 2020 Return

By Richard Eisenberg, Next Avenue Managing Editor Every tax-filing season seems full of complexities and consternation. But the one we’re now in is especially fraught, due to the pandemic: Stimulus checks. Unemployment benefits. Working from home tax issues. New Covid-19 rules for 401(k) and Individual Retirement Account (IRA) hardship withdrawals and loans. Frankly, it’s all […]

Medicare Could Be Insolvent In 2024: How To Prevent It

By Chris Farrell, Next Avenue Even as America’s balkanized health care system struggles to deal with the pandemic, the coronavirus lurks behind another looming crisis. Medicare’s Hospital Insurance Trust Fund is projected to become insolvent in 2024 or 2026 — just three to five years from now. Yet you probably haven’t heard about that. Spending […]

Integrating Life Insurance With Lifetime Income – Part One

This article is part of a series. Click here to read the previous articles. Another way to use life insurance as part of a lifetime plan is to view the death benefit as the psychological support needed to purchase a life-only income annuity as part of an integrated plan combining investments, whole life insurance, and […]

Whole Life Insurance In A Lifetime Financial Plan: The Case Study

For these comparisons, I create a case study for a forty-year-old married couple with two children who are now constructing a lifetime financial plan. Jerry and Beth have determined that it is time to get serious about retirement and life insurance planning. Jerry is employed and Beth is a homemaker. These gender roles could be […]

Seven Steps To A Better Retirement Plan Now

Are you dreaming of the day that work becomes an option, and you reach financial freedom? Those who avoided the negative effects of the Coronavirus recession have seen their salaries rise. While stuck at home, many people have seen their savings accounts swell. Combined with the stock markets reaching record highs, many are reaching net […]

Do Retirees Need A ‘Living Wage’ – And What Does That Mean?

Yes, I have been calling for a comprehensive Social Security reform ever since I began writing at this platform. And, yes, that plan calls for a change from the current formula to a flat benefit for all, or, as I’ve also called it, a “basic retirement income.” The catch, of course, is this: how do […]