As more boomers leave the workforce each day the future is uncertain for both genders when it comes to their retirement savings lasting their entire life. Many don’t know what to expect when it comes to rising health care costs, increasing living costs, and longer life expectancies. However, for...
Losing a spouse, whether through death or divorce, can be devastating emotionally and financially. The loss can take months or even years to recover since there is no way to prepare for death or divorce even when spouses have discussed contingencies with each other or with their advisor. When...
The ‘Boomer Generation,’ those born between 1946 and 1964, have a great outlook for a long life since they will outlive previous generations by almost 40%, compared to their great-grandparent’s generation. However, this generation faces circumstances that many of them didn’t plan for: Not saving enough to offset the disappearance...
Insurance is not always an exciting topic to talk about, but financial planners are well aware of the risks their clients can face when they are underinsured. Whether it is homeowners insurance or life insurance, the different types of risks people face can easily wipe out a portfolio or...
The good news is we are living longer, but the bad news is that having regular employment, good health and the premature depletion of retirement assets is becoming a reality for many Americans. Despite plans for retiring later (compared to previous generations) at age 69 or into the 70’s,...
In today’s economy, offers of an early retirement buyout for a current employee or a pension buyout directed at a former employee are becoming common as companies look for ways to cut costs. Many large employers are offering employees who are not yet at retirement age the option to take...
Gross Domestic Product (GDP) is the total of everything produced in a country, even if it is made by a foreign company or foreign workers within a country’s borders. GDP counts the final value of a product, but not the parts that go into producing it as a way...
More people are choosing to become self-employed with one in three Americans leaving their jobs to go on their own. According to a twenty-year Harvard University Study republished in November 2018, the top reasons many are leaving stable employment is wanting more control over how and why they work and choosing...
Couples usually don’t retire at the same time when they have an ‘age gap’ between them. An age gap relationship is one where there is eleven or more year’s age difference between them. Age gap relationships are becoming more common as people are choosing to marry later in life, remarry or...
Despite having a high income from owning a business or being an executive, these individuals can experience retirement savings problems. They have missed savings opportunities or put off financial planning. Often they assume that everything will work out with their retirement plan, and it can, but their high-income can...