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Certified Financial Planner | Find Me An Advisor
Find A CFP | Certified Financial Planner
Find A CFP | Certified Financial Planner


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Invest in Annuities for a Dependable Stream of Income

A lot of #investors who are approaching #retirement think there is no need for annuities as they have other sources of income. However, the #lifetimeincome guarantees provided by these products can add security to your investment portfolios, in case they mostly comprise of stocks, mutual funds and bonds.

A market decline that hits just before or early in retirement could leave traditional investors with far less money to draw on than planned, and very little time to recover their losses; thereby increasing the risk that they might run out of income during their lifetime. According to some investment researchers, by investing a portion of their retirement funds in retirement annuities, investors can arrange for a more dependable stream of income for life.

A number of advisors and academics, who have cited the benefits of investing in annuities, do consulting work or else earn income from insurers who sell annuities. However, they make a persuasive case, mainly in light of the two bear markets from the past decade.

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How much to save for retirement?

The closer you get to retirement, the more important it is to understand how much you need to stay on track — or get back on track toward your retirement goals. The actual amount needed for retirement depends on several variables including your projected standard of living and expenses, how long your retirement might last, and inflation. To cover these retirement needs, you may rely on a combination of savings, investment growth, Social Security and pensions.

In the simplest terms, the amount you still need to save is the difference between how much money you need to live in retirement and how much you expect to have from your savings and other retirement income sources, given your current situation. Arriving at that figure is far from simple, however.

Once you have an #idea of how money is needed for retirement, you'll want to keep close tabs on your progress with a financial advisor, as this may influence your retirement age.

• You might need 70 - 90% of your pre-retirement income each year during #retirement.
• Your retirement age, lifestyle choices and retirement expenses all affect how much money you need to save.
• Your retirement income may include your employer-based plan, IRAs, #SocialSecurity, pensions and personal savings and #investments.

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Term Life Insurance – An Affordable Way to Sufficiently Cover Yourself

What is Term Life Insurance?

#Terminsurance is the most basic, simple, cost-effective and appropriate type of #insurance policy for families with children. Here, the policy holder needs to pay a yearly premium for a fixed period of time (term), and if he/she dies while insured, the survivors (beneficiaries) receive the entire amount of coverage. Generally, it makes the most sense for young families because with growing children and their expenses, one needs a tremendous amount of insurance in case of any misfortune. Here’s where low cost #termlifeinsurance comes as an affordable way to be sufficiently covered.

What are the Advantages?

Some of the prominent advantages of term life insurance include:

• It is the most affordable life insurance policy, so you can afford to buy additional coverage.
• Simple and effective coverage for when you require it most.
• You can buy additional coverage when you need it, whilst building up your own investments.
• It is renewable.

To get free advise call our #financialplanner today or visit us

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#RetirementPlanning Solution that is Far Simpler than you can Imagine

We all know that it’s vital to have a financial plan. However, if you hate working with numbers, it will be difficult to put an effective strategy together, and it’s a dilemma you don't want to get stuck in. The good news is that retirement planning can be much simpler than you imagine. You just need to work out a few figures in order to map out your financial future, which is less complicated than you think. Here’s what you should consider.

#Retirement is about balancing your #income, savings, and spending. You must know approximately what these numbers will be like when you retire. Knowing what it will cost you to live during retirement is the most important number. Your spending will determine how long you have to work for, when you can retire, how you invest and how you will live.

One’s financial past, present as well as future is determined by how they balance their income, spending and savings. Let’s assume you are about to retire and haven't saved any money. You have figured out that it would cost you around $5,000 a month to live after retirement, but you have a total #retirementpension of $6,000 every month. In this case you don’t have anything to worry about.

By now, we have determined what it costs you to live and know what your retirement income will be. Now let's find out how much your investments can contribute towards your retired life.

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Buying Immediate #Annuities is Like Buying a Monthly Pension Check.

#Retirees looking for an excellent supplement to their #existingretirementportfolios should consider investing in immediate annuities. This insurance product is expected to grow in popularity as the number of traditional pension plans are on the decline and baby boomers scramble for a guaranteed source of income.

Buying an #immediateannuity is like securing a monthly pension check. In a single premium immediate annuity, the subscriber pays the provider a lump sum amount in exchange for a guaranteed stream of income. The monthly payments start immediately, generally within 30 days of making the lump sum payment.

An immediate #annuity should not be confused with a deferred one. The latter is a retirement savings vehicle in which you stock money on a tax-deferred basis similar to a traditional IRA. After you reach retirement, you can withdraw the money in a lump sum or in a series of payments. However, the amount is taxed at the time of withdrawal. By contrast, immediate annuities are a way to convert at least a part of your retirement funds into a steady income which lasts as long as you do.

Characteristics of Immediate Annuities:
• They are a steady source of income for life. This product takes away the anxiety of living longer than your money lasts.
• They are a low #risk #investment, assuming the provider is financially secure. Funds are guaranteed by the insurer’s assets and are not subject to the vagaries of financial markets.
• They are simple. The company providing the annuity handles the investment responsibilities.
• They are tax-efficient. In case you use tax-deferred vehicles for funding them, you only need to pay taxes on cheques that you receive instead of the entire lump sum.

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10 things you need to know about #Medicare

If you’re near #retirement or already retired — or helping out someone who is — you may want to learn the basics of Medicare and the different plans available. The right Medicare plan can provide protection and help save you money.

1. If you qualify for Medicare, you can enroll in Original Medicare Parts A and B through the federal government. Part A helps cover hospital costs and Part B helps cover doctor costs.

2. If you only enroll in Original #MedicarePartsAandB there are costs not covered. Many people enroll in a #Medicareplan through a private insurance company, to help with costs not covered.

3. Part D prescription drug coverage helps you save on and budget for prescription drug costs.

4. #MedicareAdvantageplans or Part C combine Original Medicare Parts A and B. Many plans also include Medicare Part D prescription drug coverage, all in one convenient plan.

5. It makes a difference where you live. Original Medicare Parts A and B are usually the same cost but Medicare Part D and Medicare Advantage plans vary by state and county.

6. If you have employer coverage after you retire, you may not need a Medicare plan. But, you still might want to consider enrolling in Original Medicare Parts A and B.

7. Review the plans in your area. There are different plan choices depending on your coverage and budget needs.

8. Ask for help. You may qualify for help paying for Medicare plan costs if you’re on a limited income.

9. Be sure to enroll early. If you wait to enroll you could pay more or have fewer plan choices later.

10. The plan you enroll in is not permanent. You have a chance to switch plans at least once a year during the Annual Enrollment Period. You may want to review your coverage needs each year.

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Insurance needs in retirement

Your goals and priorities will probably change as you plan to retire. Along with them, your insurance needs may change as well. #Retirement is typically a good time to review the different parts of your insurance program and make any changes that might be needed.

After you retire, you'll probably focus more on your health than ever before. Staying healthy is your goal, and that may require more visits to the doctor for preventive tests and routine checkups. There's also a chance that your health will decline as you grow older, increasing your need for costly prescription drugs and #medicaltreatments. All of this can add up to substantial medical bills after you've left the workforce (and probably lost your employer's health benefits). You need #healthinsurance that meets both your needs and your budget.

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What the economy means for your retirement

Most of us have gotten a pretty good taste in the past few years of how much the economy can impact our retirement savings. Who didn’t clench their teeth through the meltdown starting in 2008 that wreaked havoc on our portfolios?

Thankfully, the markets have bounced back in recent months, fed in part by some good economic news. Welcome as recovering markets are, they may be creating a mood of complacency among investors benefitting from the rebound. Are we learning the lessons of past volatile markets to protect our future investments?

To help answer that question, we brought together #Find Me An Advisor Financial’s top experts.

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Mutual fund basics

A #mutualfund pools the money of many investors to purchase securities. The fund's manager buys securities to pursue a stated investment strategy. By investing in the fund, you'll own a piece of the total portfolio of securities, which could be anywhere from a few dozen to hundreds of stocks. This provides you with a convenient way to obtain instant diversification that would be harder to achieve on your own.

What are the benefits of investing in a mutual fund?

• Diversification: Most mutual funds own dozens or even hundreds of securities. The managers often spread the fund's assets over more than one type of investment (e.g., both stocks and bonds, or #stocks from a variety of industries).

• Professional money management: When you buy shares in an actively managed mutual fund, part of what you pay for is the fund manager's expertise. The manager analyzes hundreds of securities (both current and contemplated holdings) and makes decisions on what and when to buy and sell.

• Small investment amounts: Depending on fund rules, you can open an account and make subsequent contributions with a very small initial investment. You can even set up automatic #investments through a transfer of funds from your bank account.

• Liquidity: You can convert your mutual fund investment into cash (i.e., redeem your shares) by making a request to the fund company in writing, over the phone, or on the Internet on any business day.

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