Should a Client Accept an Offer to Retire Early? Ask These Questions First

posted in Retirement Planning Aug 18, 2020


As a result of the global pandemic and its economic fallout, many companies are looking for ways to remain financially solvent by reducing their workforce. On top of millions of employees across the U.S. filing for unemployment, some are weighing decisions over whether to accept a voluntary buyout or early retirement package.

In addition to talking with clients about the market impact of the Coronavirus, they may come to you for advice on whether to take their employer up on such an offer. Getting answers to some of the following questions may help them determine next steps.

Read More

Guiding Clients Who Don’t Want to Leave an Inheritance For Their Children

posted in Advanced Planning, Retirement Planning Jul 21, 2020


We’ve heard about the Great Wealth Transfer and how all those years of saving and investing by Baby Boomers will benefit the next generation. It’s generally assumed that parents who have a nice nest egg will leave the majority of that wealth to their children as an inheritance. But that’s not always the case.

Some wealthy retirees may choose to buck tradition and leave a different kind of legacy, one that supports their community or other charitable causes they care deeply about. Or, some might simply plan on enjoying the money they’ve made by spending it on travel, entertainment or other hobbies. It is their money, after all.

No matter how your clients choose to distribute their estates, it’s best for them to manage their children’s expectations sooner than later. The following approaches can help.

Read More

How Financial Support for Grown Children May Threaten a Client’s Retirement

posted in Retirement Planning Jun 2, 2020


It’s not uncommon for parents to help their children pay for college or a wedding. Giving a grown son or daughter a financial boost as they begin “adulting” may even bring a sense of satisfaction.

But what happens when grown children continue to rely on their parents to meet basic expenses once they’ve left home? While assisting adult children financially is certainly a parent’s prerogative, the added economic strain may negatively impact their own financial wellbeing and threaten their retirement savings.

Read More

Should Retirees Ever Consider Equities?

posted in Retirement Planning May 19, 2020


As older Americans approach retirement, it’s only natural for them to expect a reduction in equity investments. Less risk to stock exposure is a conservative (and wise, many would say) move.

Read More

3 Strategies for Helping Clients Cover Healthcare Costs in Retirement

posted in Retirement Planning May 5, 2020


Retirees may experience some sticker shock when it comes to healthcare costs. That’s because a 65-year-old retired couple can expect to spend $285,000 to cover their medical and healthcare costs throughout retirement. That figure is slightly higher than previous findings. The outlook for singles is comparable, with single men expected to pay $135,000, and $150,000 for a single woman.1 These numbers don’t include expenses that Medicare doesn’t cover, such as dental, vision, over-the-counter medications and long-term care.

Read More

8 SECURE Act Facts…and What Advisors Should do About Them

posted in Advanced Planning, Retirement Planning Mar 24, 2020


On December 20, 2019 a new Act was signed in law that advisors should understand.  

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act) includes provisions aimed at helping people save for retirement. It includes increasing access to tax-advantaged accounts, as well as opportunities to help prevent older Americans from outliving their assets in retirement.

This is the second legislative tax or retirement reform in the past 2 years, and it will likely have significant impact on how financial advisors help clients plan for their retirement for years.

First, we’ll tackle the top 8 facts advisors should know about the SECURE Act. After each, we’ll share a practical, actionable step advisors can take.

Read More

Four Annuities and When to Recommend Them

posted in Client Relationships, Retirement Planning Mar 3, 2020


You know annuities can be powerful tools, yet aren’t the right strategy for everyone or every situation. And annuities vary so widely in what they can do, it really requires some searching to determine an annuity’s effectiveness for each client’s situation.

Read More

“And the Lifetime Achievement Award goes to…Fixed-Rate and Index Annuities!”

posted in Retirement Planning, News & Press Jan 21, 2020


In less than three weeks, the annual Oscars® will be presented for the best films of last year. 

Read More

Retirement Considerations for Couples vs. Single Investors

posted in Advanced Planning, Retirement Planning Jan 7, 2020


Married couples typically can reap the benefits of combined incomes to help build their retirement savings. When both are aligned in their investment strategies, it can be a powerful force. Disagreements about financial goals and spending habits, however, can potentially jeopardize their retirement savings (and their relationship). Perhaps that’s why finances are often cited as one of the main reasons for divorce.1

Read More

Help Clients Avoid Taking Social Security Too Early

posted in Advanced Planning, Retirement Planning Nov 5, 2019


Retirement should be a time when your clients glide into the most peaceful and satisfying years of their lives. A time when finances aren’t so critical, and decisions are care-free.

However, retirement has changed, and some trends have reshaped our traditional view of retirement. One factor you may have heard discussed by some retirees is “Social Security regret,” which is them feeling like they made a mistake in their decision to collect. Many feel they’re taking benefits too soon.

Read More