Retirement - Financial Resources Group

Plan Ahead

January 13, 2021

When we speak about retirement savings, we often talk about products that can provide an income stream you can’t outlive. But, what happens to your money after your lifetime? If you plan on leaving some of your retirement savings to loved ones, we have some ideas that may help. For example, you may be able to leave money to beneficiaries without tax implications. In addition, you may want to consider how the SECURE Act could impact your goals. If you have questions about how to best leave your legacy, call us. We’re here to help

Improving Your Portfolio Return Without Increasing Risk

January 6, 2021

This week’s article tells us that retirement planning needs to change in this new year and that “it may be time to revisit traditional approaches to retirement planning. The pandemic and near-zero interest rates dramatically changed the environment”. The article continues by focusing on the goals of delaying claiming social security benefits, improving portfolio return without taking on more risk, and improving portfolio longevity. So the question is, how do you accomplish these goals? Call us if you’d like to talk about ideas we have that may help do this. We’re always here to help. READ FULL ARTICLE

Start off the new year right

December 30, 2020

“Figuring out how much money you need to retire is like one of those word problems from high school that still haunts you.” This week’s article tells us that “The retirement equation isn’t unsolvable, but it’s not a precise calculation, either. You’ll need to revisit your retirement formula once or twice a year to make sure it’s on track, and be prepared to make adjustments if it isn’t. Weigh these four factors to get a better handle on how much money you will need to retire”. The beginning of a new year may be a good time to revisit your

Holidays and Financial Stress

December 27, 2020

Did you know that according to one 2019 survey roughly 48 million Americans were still paying off 2018’s holiday debt by the 2019 holiday season? Therefore, it shouldn’t be surprising that a more recent survey conducted this year by Goldman Sachs found that 50 percent of Americans think gift-buying is the most financially stressful event throughout the year. Perhaps now is the time to make a change. In fact, another survey conducted by Experian “found that 84 percent of people were motivated to improve their finances during the last holiday season.” We’re here to help you do that. Call us,

Healthy Mind, Healthy Body

December 16, 2020

This week’s article reminds us that notwithstanding the trials and tribulations of the pandemic, one thing COVID does to benefits us, is that it demands healthy aging. There have been and will continue to be many wide-reaching implications which include not just direct health impacts; if the pandemic teaches us anything “it’s the importance of maintaining healthier and more vital bodies, especially as we age.” “Active and therefore healthy aging can be powerfully linked to work – keeping our minds active and our bodies healthy.” This may mean a later retirement, or if yours was forced, it may mean closer

Time to reflect

December 3, 2020

With one month to go until the new year, it might be a good time to reflect on the status of your retirement savings in order to better understand what your choices and needs will be in 2021. Take a look at this week’s article for a few retirement calculators. They help you to understand if you are saving enough to retire, and how tax options impact on your savings. After you’ve run a few different scenarios, call us if you’d like to discuss some options that may make a big difference in planning for your retirement. We’re always here

Insurance needs change when you retire

November 25, 2020

This week’s article reminds us that “Senior insurance needs are different. Time to drop the disability coverage and review your other plans.” The most obvious insurance retirees need to maintain is health insurance. While most seniors age 65 and older are eligible for Medicare, Medicare doesn’t cover 100% of medical costs.” Knowing this, it is important to have an income stream that you don’t outlive in order to help cover those unexpected expenses, and also provide you with funds to enjoy your retirement with. Call us, we may know of options you haven’t yet considered. We’re always here to help.

What matters is if you are concerned

November 18, 2020

This week’s article highlights a Harris Poll that showed “workers who have been laid off or had their hours reduced amid the pandemic are particularly concerned about their future.” “70% say they are worried about running out of money in retirement, 61% say they are much more afraid of life in retirement, and 61% say the pandemic took the joy out of looking forward to retirement.” What matters is if you are concerned, not the reason why. Call us to talk about some options that may help you to use what savings you do have to provide an income you