Archives for Blog

These Life Insurance Riders Can Provide Extra Protection

In the course of financial planning, we make many decisions regarding our own financial futures. But of course, another huge consideration is the future of your family, in the event that something should happen to you. That’s why life insurance was created, to address the financial needs of your loved ones in your absence. Of course, none of us have the ability to accurately predict the future. All we can do is analyze the likelihood of different scenarios, and make decisions based upon needs and expectations. As you’re considering different life insurance policies to protect your family, familiarize yourself with
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What to Do About Taxes on Your Social Security Benefits

When you retire, you will find that many aspects of your life change dramatically. On the other hand, there are some things that remain constant. Taxes are one of those things. While your exact tax situation might change somewhat, it is true that income taxes don’t just disappear once you retire. They remain a part of your life, and even your Social Security benefits can be taxed! Taxes on Social Security benefits can come as a shock to many retirees. Luckily, there are some ways to minimize these taxes, even if you can’t completely avoid them. Mind the thresholds. Your
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Are You Prepared for a Rainy Day?

Lately, the news has brought us positive reports on the state of the economy. We’ve seen gains in the stock market and housing market, and unemployment is low. Those positive headlines, however, still aren’t translating into good news on a personal level for many people. According to a recent Bankrate report, many of us have yet to establish a “rainy day” fund for emergencies. The report first analyzed the preparedness of households overall, and then broke down those statistics into economic levels. 23 percent have no emergency savings at all 22 percent have a bit of money stashed, but not
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4 Reasons to Increase Your Savings Rate

You probably first established a retirement savings goal years ago, and hopefully you’ve followed through on that plan each pay period. If so, congratulations on making a smart decision to build a more secure future… But, that doesn’t mean that you shouldn’t bother to re-evaluate your plans occasionally. The following four trends (and several others) might impact your retirement budget when the time comes. So it might be a good idea to consider increasing your rate of savings. Average life expectancy is increasing. Around the middle of last century, the average life expectancy was 68 years. It was common to
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4 Reasons to Increase Your Savings Rate

You probably first established a retirement savings goal years ago, and hopefully you’ve followed through on that plan each pay period. If so, congratulations on making a smart decision to build a more secure future… But, that doesn’t mean that you shouldn’t bother to re-evaluate your plans occasionally. The following four trends (and several others) might impact your retirement budget when the time comes. So it might be a good idea to consider increasing your rate of savings. Average life expectancy is increasing. Around the middle of last century, the average life expectancy was 68 years. It was common to
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This Clever Strategy Can Help You Get Out of Debt

Preparing for a secure future involves a lot more than just saving diligently. Every decision you make along the way will impact your comfort and security in retirement, and that rule is certainly true for debt. The average American consumer owes over $16,000 in credit card debt, at an average interest rate of 18.76 percent.* That means the average person is paying 1,292 dollars in credit card interest each year. That’s not counting the amount paid toward the principal balance; we’re talking about nearly 1,300 dollars of money wasted on interest, every year! It’s easy to see why so many
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4 Ways to Save More for Retirement

Ask one hundred people about their retirement plans, and you might receive one hundred different answers. Dig a little deeper, though, and you’ll see that most answers fall into a few basic categories: Those who are confident about their retirement savings, those who know they need to be saving more, and those who haven’t saved anything at all. If you fall into either of those last two categories, these tips are for you. And even if you’re feeling okay about your rate of savings, it wouldn’t hurt to review your plans and try to save a bit more. Budget for
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4 Quick Ways to Improve Your Credit Score

You already know that your credit score can be the key to unlocking lower interest rates on everything from credit cards to a mortgage. A high score can also help you gain significant perks like a top-notch rewards program with your card company, and even helps to keep auto insurance rates low. But the downside is that you can miss out on these things, if you miss the minimum score by just a point or two. While it takes years of diligence to build a great credit score, there are a few things you can do to boost your score
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Why Would Anyone Work in Retirement?

You probably picture retirement as a time to stop working, and start relaxing. Maybe you want to travel, or simply enjoy your days without the constraints of alarm clocks and a lengthy commute. But many retirees have chosen to work during retirement, either through a part-time job, joining the gig economy, or starting their own business. Why would anyone do this? There are numerous reasons, but most fall into the following five categories. Preventing boredom. After retirement, life might slow down considerably. At first this feels like a welcome respite, but before long many retirees find themselves growing bored or
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How Millennials Can Create a More Secure Future in Just 10 Minutes!

If you’re like most people around the age of 30, you don’t think about retirement planning too often. You probably decided upon an amount to contribute to your employer sponsored retirement account, and those contributions have been deducted from your paychecks ever since. You’ve taken a responsible and effective step toward preparing for your retirement… But what if you’re missing out on free money that would actually help you build an even more secure future?   Most people don’t know this, but there are billions of dollars in free retirement funds going unclaimed each year. The source of this money
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