If you have already started saving for your retirement, congratulations! You’re on the right path. However, just saving money will not be enough to ensure a comfortable retirement if you don’t make the right decisions concerning your plan. The following tips will help you get the most out of your retirement savings: Find a Plan...
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How to Be Financially Fit
Twenty-eight percent of participants in a 2015 LIMRA Insurance Barometer Study have no confidence in their ability to make important financial decisions. If that sounds familiar, a financial wellness program can help. Financial wellness programs take a holistic approach to finances. Gone are the days when financial wellness meant simply looking at credit card debt...
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How to Prevent Divorce from Ruining Your Retirement Plans
Divorce is a major life change that can affect your finances all the way through retirement. It divides assets and, in some cases, assets may be awarded to only one person — making the other spouse more vulnerable. Statistically, single adults have a higher risk of not having enough money saved for retirement. The Employee...
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When Social Security Won’t Help
Relying on Social Security Disability Insurance (SSDI) to cover you if you become disabled could mean financial ruin. Here’s why. You must meet all the following criteria to receive SSDI benefits: You earn more than $1,090 a month. Your condition must be so severe that it interferes with your work. Your disability must be included...
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Can You Afford to Retire?
Americans are generally more confident in their ability to afford retirement than they were last year. But many aren’t taking steps to achieve that goal. The 2015 Retirement Confidence Survey found that the percentage of American workers who were very confident they would have enough money for a comfortable retirement increased again in 2015. In...
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What Are the Alternatives to Nursing Home Care?
Fourteen percent of people age 65 or over need long-term care. Among those 85 or older, half need some long-term care, according to the Georgetown University Long-Term Care Financing Project. If you don’t like the sound of a nursing home, relax because today’s long-term care insurance policies can cover many other long-term care options. There...
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What Are My Retirement Plan Options?
Thirty-six percent of Americans don’t have any savings for retirement. If you have taxable income but your employer doesn’t offer a retirement plan, you need to ask yourself: What are my options? myRA The U.S. Treasury Department introduced the myRA last year as a simple, no-fee “starter” retirement plan. To participate, you must earn less...
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7 Strategies For Paying Retirement Healthcare Costs
A Kaiser Family Foundation study found that retiree health benefits supplement Medicare for approximately 15 million Medicare beneficiaries and provide primary coverage for more than two million pre-65 retirees. However, the portion of employers that offer retiree health benefits is dropping yearly. If you can’t rely on employer-provided retiree benefits, how will you cover your...
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Is an Annuity a Good Retirement Investment?
Do annuities belong in your retirement portfolio? If you’re looking for a guaranteed revenue stream, consider the following pros and cons to decide if an annuity is a good investment for your retirement portfolio. When you buy an annuity, you’re buying an investment that provides regular payments over time. The annuity buyer (the annuitant) makes...
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