As you’re nearing retirement and are due a pension, a tricky decision you’ll be faced with is whether to take your benefits as a lump sum, or as an annuity over time. For those leaning towards an upfront payment, the choice may be more complicated now, because of rising interest rates. As rates rise, lump …
Does your retirement budget account for all of these costs? If not, they could derail your retirement. You may need to alter your strategy. Hidden Housing Costs First, there are housing costs to consider. Many pre-retirees fail to look beyond their monthly mortgage payment when estimating their long-term housing costs. Unanticipated home repairs and renovations …
“According to the 2022 Insurance Barometer Study, conducted by LIMRA and Life Happens, 106 million adults lack life insurance, or adequate coverage. The need gap, what people have versus what they said they need, is at an all-time high and more than double what it was 12 years ago. The percent of households that say …
As we’ve seen from the news over this past week, many were caught up in the hurricane, and many did not have insurance that suited their needs. This is the case for many people because a natural tendency when purchasing something that pays money for a future event is to weigh the cost against the …
We all remember our school days of worrying about the grades we would receive. What does it mean when an insurance company gets graded? Insurance companies are rated with a letter grade to indicate their ability to meet their continuing obligations. An A+ rating means that they are considered superior. You will usually also see …
Someone asked us this past week if we would explain what the “Four Percent” rule is and how it came about. The Four Percent rule is based on a study by a financial advisor named William Bengen. His study suggested that one could safely withdraw 4% of their starting portfolio value for 30 years without …
There was an interesting article the other day in the Wall Street Journal. The article discussed a recent survey of workers in their 60’s who were asked about their retirement preferences. The author found that the assumptions that are usually embedded in retirement income calculators–for example, good health, not wanting to make a bequest, and …
“Money can’t buy happiness” is an adage that some people live by, and others ignore. According to a recent Purdue study: “income can correlate with emotional well-being and life satisfaction.” But, as a recent GoBankingRates article tells us, the price of happiness differs (apparently) depending on the State you live in. We may have some …
“In this world, nothing is certain except death and taxes.” Death may be a certainty, but some taxes actually aren’t, depending on the circumstances. The tax implications of your charitable contributions and what you leave to your heirs might not be a top concern of yours. However, it is an important thing to think about. What …
A Tax-Smart Way to Leave Money to Charities and Your Family Read More »
A fixed indexed annuity is a type of annuity contract between you and an insurance company. It generally promises to provide returns that are based on a link to the performance of a market index. You usually make one initial lump sum payment to the insurance company. That payment is then allocated to one or …
Donald L Retallick III
FL Insurance License # P109239
Retallick Financial Group
Florida Lic. #L096591
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**Our products offer a reasonable rate of return, over time.
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