Saving More Money, Now & Later

Saving More Money, Now & Later

Directly & indirectly, you might be able to save more per month than you think. Hidden paths to greater savings can be found at home and at work, and their potential might surprise you.     Little everyday things may be costing you dollars you could keep. Simply paying cash instead of using a credit card […]

Could You Create Your Own Pension Plan?

Could You Create Your Own Pension Plan?

Contrary to popular belief, classic pension plans have not disappeared. Corporations have mostly jettisoned them, but highly profitable small businesses are giving them a second look. Why are small business owners deciding to adopt old-school, employer-funded retirement plans?    The tax breaks attached to a defined benefit plan may be substantial. In fact, if these […]

What is the #1 Retirement Concern in America?

What is the #1 Retirement Concern in America?

What is the Biggest Retirement Concern? People in retirement aren’t afraid of dying. They are afraid of running out of money.  At Retirement Income Solutions, we structure retirement strategies and create plans—for pre-retirees and retired individuals—to create a worry-free retirement. For years, we have known that the most significant retirement concern individuals have in their […]

Quick Look: How Your Retirement Savings Compares with Others Your Age

Quick Look: How Your Retirement Savings Compares with Others Your Age

Have you ever wondered: “Am I really saving enough for retirement?” Do you wonder how your retirement savings compare with others your age? The average person in their twenties has around $16,000 in retirement savings. The average person in their thirties has saved about $45,000. Americans in their forties have median retirement savings of around $63,000. Americans in their fifties have median retirement savings of about $117,000. Americans in […]

Will You Really Be Able to Work Longer?

Will You Really Be Able to Work Longer?

How long do you think you will work? Are you one of those baby boomers (or Gen Xers) who believes he or she can work into retirement years—well past 65? Some pre-retirees are planning to, and that could be financially perilous. In a new survey on retirement age, the gap between perception and reality stands […]

Why You Might Not Want a Lump-Sum Retirement Payout

Why You Might Not Want a Lump-Sum Retirement Payout

Do you have the option of receiving your retirement money as a lump-sum retirement payout? Consider all your options and speak with a retirement professional first because you may want to turn that choice down.

A new MetLife study, Paycheck or Pot of Gold, warns of the “lottery effect” that can occur when all that money makes its way into a household at once. Surveying more than 1,050 retirement plan participants who had taken lump-sum payouts, the survey found that 21% had already used up 100% of that money; on average, it had disappeared in less than six years. In less than six years! Read more about Why You Might Not Want a Lump-Sum Retirement Payout

Test your retirement readiness IQ

Test your retirement readiness IQ

How much do you know about planning for a long, financially secure retirement? Fidelity Investments recently prepared a two-part quiz that can help you answer that question. The first part concerns retirement savings and asks three key questions about how to put enough money away for a secure future. Click here to read the source […]