Vincent J. Bono, J.D. With your TSP, Social Security and Pension, you would think that this is virtually impossible, however… According to Forbes: Almost half of American households will run short of money in retirement. That includes federal employees. According to the Social Security Trustees: The Social Security Fund will run out of money in 2032 (more likely 2030). … Read more
One of the most crucial considerations when planning for retirement is ensuring you have a reliable income stream that will last as long as you do. Guaranteed income, such as that provided by certain financial products, can offer a sense of Security in retirement. But why is this so important? Did you know that Americans who … Read more
Annuities aren’t just for the “average” consumer. They are products that can give nearly anyone, regardless of net worth, enhanced protection against the risks threatening to erode their wealth and peace of mind. The guaranteed income generated by an annuity has value, regardless of how much money you make. For investors involved in riskier ventures, … Read more
Most Americans recognize the impact of inflation in the short term, like when they go to the grocery store or fill up their car. However, inflation is much more than just a temporary inconvenience. Increasing inflation affects long-term financial plans, especially in retirement. Over time, rising prices can seriously erode the value of your savings … Read more
Qualified Longevity Annuity Contracts (QLACs) have gained traction in retirement planning discussions due to their unique features and potential benefits. In this article, we’ll delve into what QLACs are, their advantages, how they differ from other annuities. A QLAC is a type of deferred income annuity that lets individuals use their retirement savings, specifically from … Read more
If you need a reliable source of income for retirement, annuities offer one of the safest, most efficient ways to create that income. However, because modern annuities include a myriad of customization options, navigating their features, such as income riders, can be daunting. In this article, we’ll examine two of the most popular methods for … Read more
Everyone has their own vision of what an ideal retirement looks like. Some of us daydream about traveling the world. Others vow to learn a language, get a degree, or pursue hobbies we never had enough time for when we were working. However, retirement also may involve a crucial psychological adjustment as you shift from … Read more
Introduction Fixed indexed annuities (FIAs) have become a popular option for people looking to balance growth potential with protection from market risk. But what exactly are FIAs, and how do they differ from other annuities? In this article, we’ll explore how they work, their key features, and what makes them unique compared to different kinds … Read more
The confusing, hype-laden manner in which annuities are marketed and sold is one of the main reasons people dismiss them as viable retirement assets. There are tons of annuity products available, and new ones are introduced almost daily. Each “new and improved” annuity typically has at least one or two unique features to distinguish … Read more
Pensions and annuities are two popular retirement income sources, but they operate differently and have distinct features. Let’s explore what sets these two income streams apart and how to decide which might be the right fit for your needs. What is a Pension? A pension is a retirement plan offered and managed by an employer, … Read more
