Retirement - Financial Resources Group

Rethinking Retirement Savings

June 30, 2021

We came across an article written in the Harvard Law Review and thought to share it with you all. This article discusses rethinking retirement savings and puts into context how much money we have in retirement accounts ($35 trillion collectively!), where it comes from, and what ‘buckets’ exist that provide any economic security for American workers facing retirement. Take a look and let us know what you think. We’re here to help you find safe (rather than risky) places to put your savings for retirement. That’s always been our priority. Give us a call and we’ll help you plan a

Starting to Worry Again?

June 24, 2021

Are you holding your breath starting to worry about the market again? Fortunately, you can build a diversified portfolio with principal protection. Our team at Financial Resources Group can assist you in building your portfolio in a way that distributes risk and prepares your retirement savings for growth in a variety of economic environments. If you include Fixed Index Annuities in your plan, it’s possible to guarantee income over a period of time…even over a lifetime. FIA Insights tells us, “unlike a 401(k), with an FIA, the insurance company absorbs the risk of market downturns, guaranteeing a minimum floor, and

The New ‘Life-Is-Short’ Mindset

June 16, 2021

This week’s article explains how affluent Americans are rushing to retire sooner than they had originally planned due to the new ‘Life-Is-Short’ mindset, a product of the pandemic. Even if we now have the ‘Life-Is-Short’ mindset, Americans are still living longer and will need income during retirement that won’t be outlived. Regardless of whether you think of yourself as affluent or not, there are options that will help you feel more comfortable with your retirement strategies. Call us at 949-955-3755 to talk about which retirement strategies are best for your plan. You have options. Read the full article about Americans

Benefits of Fixed Indexed Annuities

June 3, 2021

As a reminder when you are considering where you can place your hard-earned savings to generate a guaranteed income, remember that FIAs are insurance products that can guarantee income over a period of time — even over a lifetime. Unlike a 401(k), the insurance company absorbs the risk of market downturns, guaranteeing a minimum floor, and protecting contract holders from market losses. In other words, an FIA offers the potential for interest, based in part on the performance of an external index without the risk of market loss. Your principal amount is guaranteed, subject to any withdrawals you take or

The New Retirement

May 26, 2021

As we are starting to emerge without masks, this week’s article discusses the ways that COVID-19 has impacted the economy and retirement. “COVID-19 has accelerated many of the trends that were already challenging the outdated study-work-retire model…” and has us rethinking retirement. If you’re feeling less secure about your finances due to the pandemic, you’re not alone. Call the team at Financial Resources Group. We’re always here to help. Click here to read the full article.

Retirement Calculator

May 19, 2021

This week’s article includes a retirement calculator to assist you in determining whether you are successfully targeting what you need for a secure retirement. It even includes information about Social Security (which is calculated on a sliding scale based on your income) and how to allocate for a non-working spouse in your plan. Household income, the age you wish to retire at, and when you may and may not make contributions to your savings are factored in as well. We know every retirement plan is different and we’re here to help you personalize yours. Use this calculator to create your

It’s Not Magic

April 30, 2021

Retirees sometimes get to the point where, as the saying goes “it is what it is” and there “is” only so much money in their retirement savings account, and it won’t or can’t get any bigger. So then the question becomes, what can be done with that savings to last through what is hopefully a very long retirement? We have told you in the past about different articles that discuss financial products that exist that can turn a retirement savings account into an income stream that you can’t outlive. But, did you know that there are new ways to increase

The Peak 65 Generation

April 22, 2021

The Alliance for Lifetime Income recently published a new economic report about the “Peak 65 Generation” you might be interested in. “Peak 65 is a term used to describe the point in time when more Americans will turn age 65 than at any point in history.” This will occur in 2024. “This fast-approaching milestone requires the urgent attention and collective action of retirement security stakeholders, including policymakers, the financial services industry, employers, and consumers themselves. The report also focuses attention on a looming retirement income crisis in America, which has been dramatically accelerated by the huge increase in Americans retiring

Can a minor participate in a 401k

April 15, 2021

Are you a small business owner? You may find this interesting. According to this week’s article, “the 401(k) has become the go-to retirement plan for many Americans.” In fact, the article goes on to say that the “flexibility, tax savings and scale of 401(k) plans” have made them “attractive to employers”, as well as employees. However, there is a common misconception about 401(k)s. Namely, people think that you have to be at least 21 years old to have one. However, nothing in the federal law precludes setting a plan’s minimum age to be under 21. These choices are ultimately up to