When a chronic, debilitating illness strikes, no time should be wasted before putting together a financial and estate plan tailored to your new circumstances. The more your financial and legal advisors know about your condition, they can work with you to develop plans tailored to your circumstances.
Your pension payout is a major cornerstone of your retirement, so your choice of options should be based on a financial plan that considers several key factors.
Age-gap couples face a number of potential problems when planning their financial future. However, with foresight and proper planning, couples could turn some of those potential problems into opportunities. The key is to look far out ahead and get your planning done well in advance.
You’ve done the planning. You’ve crunched the numbers. Recent stock market movements have carried you over the top, assuring you of a worry-free retirement (hopefully!), but you can’t bring yourself to pull the trigger. Did you ever think you would have to be dragged kicking and screaming into retirement?
Like the famous lyrics go: “More money, more problems”. The more money you have, the greater the number of complexities you have in your plan. As your wealth increases, so do the risk exposures that can take your wealth away.
Searching for the right financial advisor for you can be a very daunting task. There are more than 600,000 financial professionals in the U.S. However, if you know how the advisor gets paid, you’ll know what to expect in terms of type and level of advice the advisor can offer.
Leaving a job, for any reason, is a major life event. If you are also leaving a pension, the decision as to what to do with it can have lifelong consequences.
For a little extra expense, high earning “solo-preneurs” may be better served by establishing their own pension plan.
Retirees today are facing a whole new set of financial challenges, which makes planning for retirement all the more important.
It’s a problem that everyone will face in our lifetime – the passing of a parent. But if there is money to be left behind, how do you manage it wisely and honor their legacy?
This century has seen the demise of guaranteed pension plans, which has shifted the burden of saving on the shoulders of individuals. So, the question has to be asked and, realizing that there are many variables that come into play, you need to have an appropriate target to shoot for.
The decision to work in retirement needs to be considered in the context of your financial situation along with all of its ramifications.