Three Social Security Questions You Should be Asking

Three Social Security Questions You Should be Asking

Nearing retirement brings many questions and not all of them involve when to visit the grandkids or how to plan for that trip to Hawaii. Instead, many of them are centered around finances. Specifically, many future retirees are wondering about Social Security.

Although the Social Security program focuses on providing financial support for retirees, Social Security-based decisions often bring more stress and confusion than peace of mind. Nevertheless, education is a tried-and-true antidote for confusion. As you plan for retirement, consider asking these questions to get the most out of Social Security.

Financial Security 101: The Emergency Fund

Financial Security 101: The Emergency Fund

You’ve probably heard it before: the very first aspect of financial security is having an adequate emergency fund.

Having proper cash reserves can solve a multitude of life’s expected problems, whether your transmission blew up while leaving for your family’s cross-country road trip or your job got the axe in the latest round of layoffs. But how much should you keep in reserve for emergencies? And where’s the best place to put that money in the meantime?

Annuities: Buyer Beware

Annuities: Buyer Beware

When investors fear a market down-turn, some are tempted to seek shelter for their retirement funds in annuity contracts. An annuity is an insurance product that pays you a fixed monthly income for life. Annuities come in huge variety, due to different features, interest rate determinants, payout schedules and contract specifications. Even considering only the best of this group, investors usually are better off with a properly managed investment portfolio than through an annuity.

4 Numbers to Remember About Retirement Planning

Creating a well-rounded financial portfolio is an important step in securing income during retirement. Understanding your specific financial situation, and how your financial numbers relate to your goals, is the first step in crafting an appropriate plan for retirement.

In today’s post we’re highlighting four important numbers to remember about retirement planning. While there are many uncertainties involved in making future projections these key figures can serve as a valuable guide in helping you plan for your future.

How fee-only financial advisors differ from commission-based advisors

How fee-only financial advisors differ from commission-based advisors

Understanding the fee structure of your financial advisor is a key step to ensuring your financial interests are being met. It’s important to note that financial advisors operate under various fee structures, including fee-only and commission-based, and each structure offers different incentives to advisors and to clients. Having a firm grasp on your financial advisor’s method of compensation helps you understand the full picture of how your investments are being managed.