We Have An Idea
This week’s article includes 4 ways for us to prepare and save enough to retire in 10 years. But we have the 5th idea, not mentioned in this article! As you accumulate savings meant to carry you through retirement (alongside your social security), we suggest putting some or all of
Eliminate the Guesswork
A survey released in 2019 found that 46% of Americans are guessing at how much money they need for retirement. With increasing life expectancies and financial uncertainties, guesswork is playing a big part in determining whether Americans have enough saved to make the decision to stop working and cross over
The Best Day to Start Saving
This week’s article tells us: “The best day to start saving is today, even if you can save only a little bit.” The math is very interesting and worth the read. The article explains, “If two people put the same amount of money away each year ($5,000), earn the same
Rethinking Retirement Savings
We came across an article written in the Harvard Law Review and thought to share it with you all. This article discusses rethinking retirement savings and puts into context how much money we have in retirement accounts ($35 trillion collectively!), where it comes from, and what ‘buckets’ exist that provide
Starting to Worry Again?
Are you holding your breath starting to worry about the market again? Fortunately, you can build a diversified portfolio with principal protection. Our team at Cornerstone can assist you in building your portfolio in a way that distributes risk and prepares your retirement savings for growth in a variety of
The New ‘Life-Is-Short’ Mindset
This week’s article explains how affluent Americans are rushing to retire sooner than they had originally planned due to the new ‘Life-Is-Short’ mindset, a product of the pandemic. Even if we now have the ‘Life-Is-Short’ mindset, Americans are still living longer and will need income during retirement that won’t be
Is Your Social Security Check Going to be Enough For You?
Whether you’re recently retired, nearing retirement, or a few years in, an annuity can help build tax-deferred savings. Why is that important? Annuities can provide a guaranteed lifetime income to supplement your social security. According to a Gallup poll, 85% of investors “strongly agree that it’s important to have a
Benefits of Fixed Indexed Annuities
As a reminder when you are considering where you can place your hard-earned savings to generate a guaranteed income, remember that FIAs are insurance products that can guarantee income over a period of time — even over a lifetime. Unlike a 401(k), the insurance company absorbs the risk of market
The New Retirement
As we are starting to emerge without masks, this week’s article discusses the ways that COVID-19 has impacted the economy and retirement. “COVID-19 has accelerated many of the trends that were already challenging the outdated study-work-retire model…” and has us rethinking retirement. If you’re feeling less secure about your finances
Retirement Calculator
This week’s article includes a retirement calculator to assist you in determining whether you are successfully targeting what you need for a secure retirement. It even includes information about Social Security (which is calculated on a sliding scale based on your income) and how to allocate for a non-working spouse
It’s That Time Again
We’ve found an article that offers a recap of changes in tax laws that have come into play for the first time: The 2020 return deadline now being May 17th The acknowledgment of the impact that COVID has had on finances for many of us. Take a glance at the
Limited Time Bonus
Did you hear? A major insurance carrier is offering a larger than ever BONUS on one of its products. It’s too good, and only offered for a limited time! Call us so we can provide you with all of the updated information. 916-596-0500
It’s Not Magic
Retirees sometimes get to the point where, as the saying goes “it is what it is” and there “is” only so much money in their retirement savings account, and it won’t or can’t get any bigger. So then the question becomes, what can be done with that savings to last
The Peak 65 Generation
The Alliance for Lifetime Income recently published a new economic report about the “Peak 65 Generation” you might be interested in. “Peak 65 is a term used to describe the point in time when more Americans will turn age 65 than at any point in history.” This will occur in
Can a minor participate in a 401k?
Are you a small business owner? You may find this interesting. According to this week’s article, “the 401(k) has become the go-to retirement plan for many Americans.” In fact, the article goes on to say that the “flexibility, tax savings and scale of 401(k) plans” have made them “attractive to
Did you know?
Did you know that 40.2% of older Americans have Social Security as their only income?* We believe in supplementing your retirement with additional income you can’t outlive. Call us if you are interested in learning more about a product that provides this. Protect your principal from market losses, and generate
Tax Filing Deadline Extended
What Strategy is Right for You? This week’s article confirms an announcement recently made by the IRS. “You now have an extra month to lower your tax bill with contributions to your individual retirement account (IRA). Just like last year, the IRS has extended the 2020 tax filing deadline to
What is an Indexed Annuity?
This week’s article provides an easy answer to the question ‘What is an Indexed Annuity?’ “An indexed annuity is a type of annuity contract that pays an interest rate based on the performance of a specified market index, such as the S&P 500. It differs from fixed annuities, which pay
Retirement Accounts
Deadlines for filing tax returns are approaching. So, we’re reminding people about another deadline as well: retirement account deposits. Each year, you have a permitted annual deposit that can be made into your retirement account. If you miss the deadline, you may miss an opportunity to increase your retirement. Have
DO BENEFICIARIES PAY TAXES ON LIFE INSURANCE?
Lately, we have been asked about taxes and life insurance. Specifically whether or not beneficiaries of a life insurance policy have to pay income taxes on that money, or whether the estate has to pay taxes on it. The simple answer is, usually, no. However, there can be nuances involved.
Saving for Retirement
This week’s article tells us “experts want you to start saving as soon as possible, no matter what amount you can afford to put away.” The first goal is to simply get into the habit of saving for the future because the future comes sooner than you think. “The second
