Until recently, many retirees have been able to rely upon the three-legged stool of retirement income sources: A defined benefit pension plan that guarantees a lifetime income, their own savings, and Social Security.
It is not often that the topics of life insurance and annuities are brought up in the same discussion, primarily because they serve two very distinct purposes. Although they are both products of life insurance companies, life insurance policies are protection against dying too soon, and annuities are protection against living too long.
It’s a presidential election year and with that comes the invariable stock market correlations seeking to predict election results or forecast the market’s direction. On one hand, the performance of the stock market during the two months leading up to the election has been somewhat of a predictor of who will win the race.
If you’ve ever seen it, it’s one of those things you’ll never forget – the mass migration of hundreds of thousands of wildebeest moving across the plains of Africa in search of a fresh feeding area. It’s magnificent to watch. Of course, we know why mammals herd together – it’s because there’s safety in numbers.
In the story of Alice in Wonderland, Alice arrives at a fork in the road and wonders aloud which road to take. A smiling Cheshire Cat appears and asks her what her destination is, to which she replies, “I don’t know.” The toothy cat then proffers the only possible response, “Well, then it doesn’t matter.”
At the core of any successful financial enterprise, be it a household or a business, is a sound an effective budget plan that is used to drive all cash flow decisions, large and small, on a daily basis.
For anyone approaching retirement you’ve probably got a checklist for your countdown to the big day.
Do I have enough saved for a long, financially secure retirement? Check.
Did I file the right paperwork at the office? Check.
Is my professional exit strategy in place and ready? Check.
It doesn’t happen very often, but when a company in which you have maintained a credit card number on file goes under, you need to think about the fact that your credit card information goes with it.
A recent survey indicates that an increasing number of high net worth investors are willing to pay for solid, unbiased, fee-only investment advice, which is not surprising considering the challenges of today’s markets.
If you’re a member of the not very exclusive club called the Pouting Pundits of Pessimism, you couldn’t wait for the July employment report. It was going to confirm your weak economy mantra. Oops! It was a slap in the face. Jobs, wages and hours all beat expectations and even the labor force showed healthy growth.