Average Retirement Savings–All Measurements Lead to the Same Conclusion
(Click here if you seek different information on retirement savings) The “baby boomer” generation are those people between 45 and 62 years of age (as of 2008). This generation has saved on the average retirement savings of $38,000, excluding pensions, homes, and social security. However, “baby boomers” with qualified retirement plans has an average retirement savings of $88,000. The $88,000 [...]
Retirement Savings Statistics Gathered by Fidelity 2006
At a time when nearly 8,000 Baby Boomers are turning retirement age each day, it does not appear that most Baby Boomers (Born between 1946-1964) are ready to retire. Fidelity’s research reports the following retirement savings statistics: Boomers have $35,000 in median total household personal retirement savings. Boomers typically save $2,750 annually for retirement. Boomers are on track to replace [...]
Categories: retirement savings Tags: baby boomers, retirement savings statistics
Get a High CD Return but Be Aware
The attraction of a certificate of deposit (CD) is its higher interest rate over your bank’s regular savings account rate. Also, federal deposit insurance secures it up to $100,000 per institution ($250,000 if an IRA). CD returns today offer new options that seniors who seek short term secure investments should be aware of. CDs can play an important part of the conservative [...]
Categories: CD savings, retirement income Tags: Bank CDs, certificate of deposit
Will Planning and Will Preparation
Will planning, trust planning and estate planning is not just for older people. It’s for anyone that wants to avoid heartache for those they love. It’s simply a asset of instructions to distribute property to those who you want to have your property. If you have a will your property will go to those you want to have it and [...]
Categories: estate planning, trusts, wills Tags: trusts, wills
Trust Income for Your Beneficiaries
One of the topics we cover on this blog is estate planning as its unlikely you will spend every last dime before you die. So let’s consider trust planning and how to leave assets to your heirs, just in case there’s some money left over. I am a big fan of leaving money in trust to provide trust income to [...]
Categories: estate planning, trusts Tags: beneficiaries, estate planning, trusts, trusts planning
Estate Planning Services-Not Just for the Wealthy
You may hear a lot about retirement planning. Estate planning is an essential part of retirement planning although many people aren’t aware of all that it encompasses. So they put it off until it’s often too late. Many assume that trust and estate planning is for the wealthy. But that’s not so. Let’s take a look at what estate [...]
Categories: estate planning Tags: estate planning
Financial Asset Management Choices for Retirees
Whether you do it yourself or hire an asset manager, your choices of financial asset management are several. Mutual Funds The favorite choice of American investors for their financial asset management, mutual funds delegate the day to day decisions to a professional management team. But the average fund charges about 2% annually (management fees, plus 12b-1 fees plus slippage costs) [...]
Categories: asset management, managed accounts Tags: financial asset management, retirement calculator, tax planning
Estate Planning Checklist
Help your spouse (or relative) settle your estate now – while you can! Use this estate planning checklist for your loved ones so that they don’t need to organize a mess of information. Don’t hesitate to ask your retirement advisor for assistance. We collect and lose a lot of information about what we have. Do you know where your insurance [...]
Categories: estate planning Tags: estate planning checklist, estate tax planning, retirement advisors
Retirement Funding—Common Misconceptions
The typical sources considered for retirement funding are 401k and retirement plans (IRAs) Pensions Other savings Social security But you have huge opportunities to gain retirement funding from other sources under your own steam, during retirement. These other sources are not often mentioned by retirement advisors unless you pay a fee for their advice as there is no commission to [...]
Categories: retirement income Tags: retirement advisor, retirement funding, tax planning
Increased income from your CD savings
Are you disturbed by the rates on CD savings at your bank? Not enough to satisfy your retirement income plan goals? Many banks are FDIC insured, just like your local bank. Shop around for the best Certificates of Deposit. Check out other banks and saving institutions in your neighborhood, and in other states. Their rates could be higher than what [...]
Categories: CD savings Tags: cd savings, FDIC insurance, retirement consultants, retirement income plan
