As a long-time financial planner, I’m seeing more and more clients reach, not just retirement, but their final years. An especially important issue at this stage of life is how to protect your financial resources from an unexpected threat—yourself and those closest to you.
Tag Archives | Retirement Planning
Recently, a life insurance agent wrote me about my railings against the SECURE Act now allowing annuities in 401(k) plans. He politely—and accurately—noted my “unfavorable opinion towards annuities (and by extension insurance sales reps).” He suggested, however that my attacks on annuities may be too broad. After reading his email, I agreed.
After my recent column on the SECURE Act, a client asked, “What are you going to do about this? It makes the planning we’ve done useless.” The good news is that, while the Act will mean some retooling of estate and retirement planning strategy, it didn’t exactly make everyone’s previous planning useless.
When you retire, where will your money come from? The list is fairly short: Social Security, a pension, working, your assets, children, or public assistance.
Your family day at the lake is interrupted by a thunderstorm. You’ve planned the perfect outdoor June wedding, but unseasonable cold will have the bridesmaids turning blue. You and your spouse have to cancel a romantic weekend getaway when the kids come down with chicken pox. In cases like this, having a “Plan B” can […]