long term care

Independent Living

Sometimes when we think of our later years in retirement, we forget to reflect on what savings we will need beyond the monthly costs of healthcare, rent, food, etc. at an independent living facility. We need to remember to consider the larger sum of money needed to “buy in” to

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Retire In 10 Years

“If you want to retire in 10 years it might be possible. But it’ll require some work.” The opening sentence of this week’s article caught my eye as getting finances in order now to meet goals later on takes planning. We are aware of some options that not only can

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Tips for Saving Money After Retirement

We thought to share this week’s article with you because it discusses 27 tips for saving money after retirement. It’s important to remember that “it’s never too late to save, even after retirement.” The author of the article tells us how to “get on track once you’re retired” based on

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capital gains taxes

Capital Gains Taxes Explained

We’ve received calls asking to explain capital gains taxes so we thought this week’s article might be of interest. It tells us, “There are two categories of capital gains: short term (assets held for a year or less) and long term (assets held for longer than one year). The day

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Savings By Age

We enjoyed reading this week’s article because it provides useful information that applies to the different generations in any family. Saving money is an interesting conversation because while it usually involves the idea of needing to have retirement money in the future, we often forget to think about saving money

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Saving Vs. Spending

This week’s article asks the question, “When do you stop saving and start enjoying the fruits of your labor?” We could help you understand at what age you can start to transition from saver to spender. It could mean the difference between: A retirement of constant penny-pinching and being stuck

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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