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What Is an Annuity?

Individuals hold about $2.2 trillion in annuity contracts; a tidy sum considering an estimated $9.2 trillion is held in all types of IRAs.1 Annuity contracts are purchased from an insurance company. In exchange, the insurance company makes regular payments to the buyer — either immediately or at some date in the future. These payments can be… Continue Reading

9 Facts About Retirement

Tip: Nearly 70% of workers expect to work for pay in retirement, but only 26% of retirees actually have done so. Source: 2018 Retirement Confidence Survey, EBRI Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start… Continue Reading

9 Facts About Social Security

Tip: How Much? Check your Social Security earnings and see an estimate of your benefits on the website, www.ssa.gov. Social Security’s been a fact of retirement life ever since it was established in 1935. We all think we know how it works, but how much do you really know? Here are nine things that might… Continue Reading

The Cost of Procrastination

Some of us share a common experience. You’re driving along when a police cruiser pulls up behind you with its lights flashing. You pull over, the officer gets out, and your heart drops. “Are you aware the registration on your car has expired?” You’ve experienced one of the costs of procrastination. Procrastination can cause missed… Continue Reading

Healthcare Costs in Retirement

About 70% of American workers are confident they will have enough money to pay for medical expenses in retirement. In a 2018 survey, 30% of all workers reported they were “not too” or “not at all” confident they would have enough money to pay for their medical expenses in retirement.¹ Regardless of whether you’re confident… Continue Reading

When Should You Take Social Security

The Social Security program allows you to start receiving benefits as soon as you reach age 62. The question is, should you? Monthly payments differ substantially depending on when you start receiving benefits. The longer you wait (up to age 70), the larger each monthly check will be. The sooner you start receiving benefits, the… Continue Reading

Traditional vs. Roth IRA

Traditional IRAs, which were created in 1974, are owned by roughly 35.1 million U.S. households. And Roth IRAs, created as part of the Taxpayer Relief Act in 1997, are owned by nearly 24.9 million households.1 Both are IRAs. And yet each is quite different. Up to certain limits, traditional IRAs allow individuals to make tax-deductible contributions… Continue Reading

What Is a Stretch IRA?

The Investment Company Institute reports that there is roughly $7.9 trillion in Individual Retirement Accounts (IRA).1 To help put that in perspective, that’s nearly half the annual gross domestic product of the U.S.2 If you have a traditional IRA, you may have the opportunity to stretch it out, meaning the account may be structured to… Continue Reading

Split Annuity Strategy

When financial markets turn volatile, some investors show their frustration by fleeing the markets in search of alternatives that are designed to offer stability. For example, in the first quarter of 2018, investors pulled $63 billion from U.S. stock funds based on uncertainty over market direction.1 For those looking for a way off Wall Street’s… Continue Reading

Where Will Your Retirement Money Come From?

For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Social Security Social Security is the government-administered retirement income program. Workers become eligible after paying Social Security taxes for 10 years. Benefits are based on each worker’s 35 highest earning years. If there are… Continue Reading