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Weekly Commentary Presented By: Arif Halaby
This week’s article reminds us “Because we’re living longer, we can’t think of retirement in a traditional way.” Years ago we may have had more of an ability to rely just on social security, but nowadays, as the article explains, “individuals must take personal responsibility for their financial security as they age. We must plan to work longer and save more, and to ensure that our savings, combined with government pensions, provide us adequate income until the end of our life. Whether you’re 70 or 17, demographic trends show you have a long life ahead, and it’s never too soon to prepare for the future.” Call us; we’re here to help you plan for your retirement.
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This week’s article spoke about a new study by Bankrate.com that shows one-third of Americans have zero retirement savings. “This includes 26 percent of adults between the ages of 50 and 64 – one of the most crucial age groups for retirement planning and saving. This generation acknowledges the importance of saving, with 32 percent of people feeling less comfortable with their overall savings than they were a year ago.” If you are looking to feel better about your retirement strategies, call us. We can help by telling you about alternatives you may not be aware of, that protect your principal and can also provide income.
Did you know that travel is an excellent way to maintain health and mental vigor throughout retirement? This week’s article tells us “people who travel during retirement show higher levels of satisfaction physically, emotionally and financially than non-travelers, but it needs to be planned for.” It’s wonderful to plan for things that give us pleasure, and to not always plan just for the necessities. Call us if you feel the same way. We’re here to help, and have some options you may not have considered that can help pave your way to achieving your retirement goals.
We believe in protecting your principal. As this week’s article explains, because of the features of a fixed indexed annuity “the value of your money will never decline for as long as it is in the annuity. But it can increase with a rising index, offering growth potential.” And, once interest is credited, it can never be lost due to negative market fluctuations. Over the past few weeks, have you been thinking this is the kind of protection you wish you had? Call us; it’s never too late to plan for your retirement needs.
Whether you are a baby boomer experiencing anxiety about how you will pay for your increased living expenses, or a Senior concerned with your high health care costs, this week’s article tells us that there may be a product that can “offer solutions to these problems by offering riders to policies that either are or may be added to an annuity to protect policyholders’ future long term and immediate health costs needs.” Call us if you would like more information about this kind of option. We’re here to help and always look forward to speaking with you.
This week I thought to share with you a report issued by financial experts to the U.S. Senate’s Special Committee on Aging. GAO conducted the study because they found that “as life expectancy increases, the risk that retirees will outlive their assets is a growing challenge”. The report stated “Financial experts GAO interviewed typically recommended that retirees systematically draw down their savings and convert a portion of their savings into an income annuity to cover necessary expenses …” Call us to discuss what an income annuity is, and how it works. We’re here to inform, and to help you feel good about your retirement future.
In an Investor Market Perceptions Study cited in this week’s article, “the majority of Americans ages 25+ with more than $200,000 in investable assets said they want some form of protection from losses as they accumulate assets for retirement.” 95% of those who responded to the survey said that they would like “a financial product with no potential loss or at least some level of protection from loss rather than one with both unlimited potential growth and loss.” We prefer products with no potential loss. If you’re like minded, give us a call. We’re here to discuss choices you may not have known you have.
This week’s article was interesting because it discussed a new type of health care program called a ‘concierge service’. It is an interesting concept, that’s for sure, and I noted that along with it comes a cost. The article went on to talk about fixed income annuities and stated “With FIAs, your money has the ability to grow tax free, only taxed at time of distribution; your principal is protected; and will never decline in value. The guaranteed income from a fixed indexed annuity could be used to supplement the membership costs of concierge medicine.” Call us to discuss your income needs. We’re here to help, and are available to discuss options you may not be aware of.
This week’s article reports “the U.S. Treasury Department has just given a tax break and its blessings to retirement savers who want to buy long-term deferred annuities in their 401(k) and individual retirement accounts.” The new rule focuses on a particular kind of annuity often referred to as a “deferred longevity plan.” This type of annuity can lock in annual benefits at a specified age, taking advantage of the pooling of many lives, and understanding that not everyone will live beyond, say, 80 or 85 years old, and so those who do so can collect more income than they would have been able to produce on their own. Call us if you are interested in learning more about this type of annuity. We’re here to help you plan for your retirement.
As the Fourth of July approaches, I reflect more on giving thanks for living in this great country. I thought to share this week’s article with you because it reinforces that notwithstanding human nature has a tendency to focus on the challenges we face in politics and with the economy; in fact, we live in an incredible country with opportunities to change the game for the better. As you think about your retirement, call us to discuss your options. We’re here to help you change your life for the better. Happy Fourth of July!
We tend to think about retirement as someone else’s issue, but this week’s article tells us that in America 10,000 people are turning 65 every day, and the number of workers paying for the younger generations’ Social Security retirement benefits is getting fewer. Have you thought about what you can do to serve your retirement needs, but also help those younger generation members of your family you leave behind? Call us; we have some options we’d like to discuss with you. We’re always here to help.
As this week’s short article tells us, “retirement can be the saddest or happiest day of your life. It is important that you re-evaluate your preparedness on an ongoing basis. Changes in economic climate, inflation, achievable returns, and in your personal situation will impact your plan.” It is not always easy to determine how well you have prepared and what you can do to improve your retirement outlook. Use the calculator in this article and then call us. We’re here to help you determine if there are options available that may help you with your plan in order to make retirement a ‘happy day’ for you and your family.
I read a study this week conducted by LIMRA, a research organization servicing the financial services community that referenced a feature in Fixed Annuities I have always found to be positive. Mark Paracer, a senior research analyst at LIMRA said that as it relates to guaranteed lifetime withdrawal benefits “there are people who didn’t look at indexed annuities before, but can now look at them as an income story.” If you are interested in lifetime income benefits call us. We’re here to help explain some options that are available to help you attain your retirement goals.
This week’s article begins by asking “Where’s my paycheck?” “That is a common question for new retirees and near-retirees when they start mapping out the retirement journey ahead. In their working days, many had regular paychecks coming in to cover ongoing expenses. But what will take its place in retirement?” Many retirees consider purchasing financial products, like annuities, that can pay them a guaranteed income stream. But did you know that not all annuities are alike, and some may serve your purpose better than others? Call us, we’re here to help you sort through what might work for you and what might not. We look forward to keeping the explanations simple so that you can make a good decision for your retirement future.
If you are anything like me, you will sometimes find yourself in conversation with friends who have a different perspective on how to approach planning for a secure retirement. Some of us are the type of person who has prepared well for the future and is confident that our income will last through retirement, while others are caught up in the complexity of modern life where retirement seems far off. You might find it interesting to take the Financial Personality test in this week’s article in order to better understand why you approach retirement planning in a certain way. Call us when you’re done, we’re here to help you learn about different choices that are available to help you feel good about your retirement strategies.
We are often asked questions about the difference between annuities and life insurance and thus thought this week’s article would be of interest to you. Reminding us that both annuities and life insurance should be considered in a long-term financial plan, the article explains “while both include death benefits, you buy life insurance in the event you die too soon and an annuity in case you live too long. In other words, life insurance provides economic protection to your loved ones if you die before your financial obligations to them are met, while annuities guard against outliving your assets.” Call us to discuss how these ideas fit into your long term financial plan. We’re here to help.
This week’s article reinforces the opinion that retirement portfolios should include products that balance the amount of risk and reward. It tells us that as we advance in our careers we should “set some money aside in a reliable retirement product such as a Fixed Indexed Annuity to continue to protect [y]our retirement.” Call us so that we can discuss with you how FIAs work, and how, as the article tells us, with an FIA “Your money has the ability to grow risk-free; your principal is protected and will never decline in value.” We’re here to give you options that will help you with your retirement strategy.
The Insurance Information Institute reminds you to review your annuity portfolio as often as you would your other investments. This week’s article goes on to tell us that “of course, a major change in your family such as a serious illness, a new baby or even starting a business should trigger a call to your insurance agent or company representative to discuss changes in your financial planning.” We’re here to facilitate that review, and to discuss any changes that might be right for you. Call us anytime, we’re here to help.
This week’s article tells us “investment experts routinely advise that, to get the best return for a given level of risk, you should diversify your investments among a number of asset classes. Fixed annuities, in particular, offer a unique asset class—an investment that is guaranteed not to decrease and that will actually increase at a specified interest rate (and, often, potentially more).” If you are in a saving-money stage of life, this type of asset can help you meet your retirement income goals. Call us if you would like more information about how this might be a good option for you to consider as part of your retirement planning. We’re here to help.
The title of this week’s article caught my eye because I know that many of us worry not only about our own future, but that of our adult children. While we are all living in a time of what has been referred to as “unprecedented economic change”, “nowhere is this change felt more than among young adults who are, whether they realize it or not, forging a brave new world, one which is highly educated, high tech, and well traveled. Yet in this world of new opportunities, many young people are financially stretched.” Regardless, studies show that even when faced with challenge, the younger generation still wants to save for retirement. There are retirement funding options that strike a balance between living in the present and helping to achieve long term goals. Call us if you’d like more information. We’re here to help.
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