We don’t want our money to run out before we die, which is why most insurance companies sell annuities. To be sure, this is a compelling sales pitch. A significant part of your wealth is forfeited to the insurance company if you die before reaching your life expectancy, which is the risk associated with annuities.
Most people had group health coverage through their employers before Medicare, and two or three options were available during the annual enrollment period. Apart from covering your prescription medications, you probably didn’t place much importance on drug coverage in your decision. As soon as you joined Medicare, all of that changed. With so many options … Read more
Some expenses may be able to be reduced or eliminated in retirement, while others may increase with age. Retirement means no commuting costs or expensive clothes for work, and new hobbies or using more health care services may result in new costs. When planning your retirement budget, keep these expenses in mind. Housing In retirement, … Read more
A retirement plan can benefit from annuities. As a result, they provide guaranteed retirement income, similar to what workers receive with a traditional pension plan. There are fewer defined benefit plans than ever, so every worker must create a retirement plan. With an annuity, even if your 401(k) or other workplace retirement plan runs out, … Read more
Portfolio diversity is essential to maintain a healthy balance, even when the stock market is performing well. Investing in tax liens can diversify and protect your retirement savings when the stock market isn’t booming. It’s not a complex process. With a bit of knowledge and research, you can start investing with limited funds and earn … Read more
When you shift into the retirement phase of life, new opportunities will come your way. There are different ways to achieve a happy retirement. While medical issues and day-to-day environments can change, there are ways of taking full advantage of your retirement at each step. Consider the following: New Goals Conserve Find a friend Remain … Read more
The retirement years are often seen as a time when people finally let go of their careers and do the things they’ve always wanted. If you’re constantly worrying about your finances, enjoying one of the most carefree times in your life is hard. 37% of workers are concerned about outliving their retirement savings, according to … Read more