Posts Tagged ‘retirement planning’

Rethink the Way you View Retirement

Friday, July 18th, 2014
Couple ready for retirement

 

Although many don’t realize this, the way most working class individuals approach retirement has undergone some serious changes over the past 10 years. With several new developments in how plan for our retirement, the future of retiring is forever changed for our children and after.

 

Here are 5 recent advancements that have changed the way we approach retirement:

  1. Roth IRA- Although the Roth IRA has been around since 1997 when the Tax Payer Relief Act came into play, it has just recently begun to gain traction. Some benefits of this IRA include your money growing and being withdrawn without taxes.
  2. Calculators for Social Security- If you wish to calculate your Social Security benefits under just about every circumstance you can imagine, the internet is your new best friend. Social Security calculators are more popular than ever online and can allow individuals and married couples to see their potential benefits under a number of circumstances.
  3. Research- The baby boomer generation is beginning to reach the age of considering retirement. Because of this boost in information demand, research has increased regarding retirement and its components.
  4. Income Planning Designations- Two new designations have come into play to help retirees assess the products, risks, distributions strategies, and tax considerations as they withdraw from different investments and savings plans.
  5. Recession- After the recent recession that hit the United States, those approaching retirement have realized that a secure plan is needed to live a very simple life after retirement.

 

At Safe Retirement Solutions, our financial advisors specialize in helping working men and women plan for retirement. We will work with you to devise a plan that meets your needs after retirement. All of your questions will be answered in a way that is easy for you to understand and leaves you feeling secure and confident about your upcoming retirement.

 

To get started with one of our advisors today, call us at 1-877-268-4086. You can also visit our contact page.

 

Follow Safe Retirement Solutions today on Google+, Facebook, and Twitter.

 

Source:

http://www.marketwatch.com/story/5-retirement-planning-game-changers-2014-07-16

What to Avoid When Planning your Retirement

Tuesday, June 24th, 2014

Retirement Saving Landmines

When it comes to planning for your retirement, there are a lot of ways to do so. In today’s society, planning for your future retirement can be somewhat easy when the correct steps are taken. However, with so many different ways to save comes many different ways to lose your retirement fund. In a recent article written by Alan Gula, a Chief income Analyst for Wall Street Daily, losing money can be avoided when individuals who are saving for retirement attempt to avoid certain “landmines”.

  1. No Diversification- When we hear stories of individuals losing a large amount of money from their retirement fund, we typically find that they were not diversified when saving. Those who place their savings in one sole place are at a higher risk of losing a more significant amount of money as opposed to those who are well diversified when it comes to their retirement savings.
  2. Fees- As Mr. Gula points out in his article, a large amount of brokers are usually given incentives to try and sell products that are high-commissioned, which means high fees for you. Mr. Gula gives a website called Morningstar that shows individuals the risk to reward ratio of products and mutual funds to show them if they should risk purchasing from a certain broker.
  3. REITs- If a broker makes an attempt to sell you on a non-traded real estate investment trust (REIT) you should say no and run the other way. Brokers try to sell REITs by saying they help you to escape the volatility present in the markets. However, these non-traded REITs prevent you from pulling your money if necessary, which could end up as a loss for you in the end.

For the full article written by Alan Gula, click here.

If you want to avoid casualties like those listed previously, or want to know more about other possible pitfalls when saving for your retirement, talk to an advisor from Safe Retirement Solutions today. Our advisors understand how stressful and complicated saving for your retirement can be and will work with you to make the process as stress-free as possible.

To get started with Safe Retirement Solutions, call us at 877-268-4086 or visit our contact page today.

You can also follow Safe Retirement Solutions today on Google+, Twitter, LinkedIn, and Facebook.

What is Medicare?

Friday, May 30th, 2014

One of the biggest questions people have about retirement is how they will manage to pay for their healthcare. When your body gets older, there are plenty of health problems that could potentially arise, for both you and your spouse. If serious, medical bills can become very costly and overwhelming to deal with. There is also the concern about medication. If certain ailments occur that require regular medication, costs can creep even higher when it comes to your healthcare. You find that when you originally planned for your retirement, healthcare wasn’t an area you planned for in full. So what do you do?

Medicare after Retirement

Medicare

A health program implemented by the government, Medicare provides insurance for Americans over the age of 65 along with disabled individuals. This health insurance program is used by over 55 million citizens. While not everything is covered with Medicare, it does assist with basic medical expenses. There are for parts to Medicare:

  1. Part A- Most enrolls in this part of Medicare. Part A helps with hospice care, impatient care, and nursing facilities. This normally doesn’t require a paid premium.
  2. Part B- This helps to cover therapy (occupational and physical), doctor services, outpatient care, and some home health care. Part B typically has a monthly premium.
  3. Part C- With this part of Medicare, benefits are received through a Medicare Advantage. These benefits are managed by pre-approved insurance companies.
  4. Part D- This part provides benefits for prescription drugs.

When it comes to understanding which part of Medicare is best for you, talk with your doctor about any conditions you currently have or could surface in the future.

Plan with Safe Retirement Solutions

When it comes to planning for healthcare after retirement, trust the advisors at Safe Retirement Solutions. At Safe Retirement Solutions, we help our clients plan for their retirement before they have even reached retirement age. We will answer all of your retirement questions and assist you with including healthcare in your retirement planning.

To start planning for your retirement, speak to one of our advisors today by calling toll free at (877)-268-4086 or by clicking here. You can also follow Safe Retirement Solutions today on Facebook, Twitter, LinkedIn, and Google+.

 

 

 

Source:

http://www.planforyourhealth.com/retirement/article/show/health-care-options-after-retirement/

The Future of Retirement

Tuesday, May 13th, 2014

Couple ready for retirementOn May 13, 2014, Florida Senator Marco Rubio presented a speech discussing the future of retirement for Americans. His proposal would help younger Americans save for their future retirement while protecting programs for older Americans who are nearing retirement age.  With Rubio’s plan, younger workers would be facing a higher retirement age, but there would be federal retirement accounts for all Americans to join.

Rubio was quoted by The Associated Press saying, “If ever there was an issue worthy of this solidarity, preserving a secure retirement for 21st century seniors is that issue.” Rubio is a Republican senator who is currently considering a presidential bid. Within his speech, he also promises older workers that their retirement would not be affected by his proposed plan. His plan outlines that as life expectancy rises, the retirement age should rise along with it. Within his proposed plan, Rubio suggests making the Congress retirement plan open to Americans, allowing those without retirement options through an employer access to several investment programs such as 401(k). This plan also suspends payroll taxes for Social Security for workers 65 years old or older who continue to work while also protecting workers 55 years old currently.

At Safe Retirement Solutions, we are here to help you plan your future retirement in this time of uncertainty. Along with retirement planning, we also offer services in:

  1. Income Planning
  2. Asset Protection
  3. Tax Planning
  4. Life Insurance
  5. IRA, 401(k), Thrift Saving Plan, 403(b) Rollovers

 

Our dedicated team of professionals will offer advice and guidance with your financial future as you start to consider your retirement future. The number one fear for retirees is that they will outlive their money set aside for retirement. At Safe Retirement Solutions, we help you set goals for your retirement and aid you in implementing plans and strategies to make your goals obtainable.  Our advisors will sit down with you to determine what you eligible for in terms of retirement and help you to look at all of your options. Thinking about your retirement can be overwhelming and daunting, but with Safe Retirement Solutions, you can rest easy knowing all of your questions will be answered and no detail will go unnoticed.

Visit one of our offices located in Annapolis, Towson and Columbia, Maryland as well as our office in Saint Augustine, Florida. You can call to set up an appointment at (410)-266-1120, or toll free at (877)-268-4086. You can also submit an online form here.  Find us on Facebook, Twitter, LinkedIn, and Google+.

 

Sources:

http://www.naplesnews.com/news/2014/may/13/marco-rubio-open-congress-retirement-all-workers/

 

The Benefits of A Professional Financial Advisor for Retirement Planning

Monday, April 28th, 2014

Many people looking to invest money are seeking to save money by being “a do-it-yourself-ER.”.  In the financial market, the game is always changing, therefore you always need to be playing.  A financial advisor is always up to date on the market trends, anticipated changes, and the known areas of stability that you can count on.

A financial advisor is trained to know when to take a risk, when to sell, when not to sell, and when to be conservative.  It may be a lot harder for you to keep your composure than it is for a financial advisor.  The fact that a financial advisor can hold out as long as possible before selling without an investment bottoming out takes audacity, but can truly pay out in the end.  Many individuals will get nervous with their own money and sell too soon and miss out on the full investment.

A professional can truly help you diversify your portfolio and help you invest in stocks you may have never been familiar with.  This is especially important in emerging markets when you need to buy before a product has really taken to the market.  These are the risks that can really make all your dreams come true with the right investment strategies.

A financial advisor can also help keep you on track and accountable to your investments.  When your financial situation changes, your advisor will help you think of the future rather than now.  They remind us how investing $5 extra a week now may mean very little to us now but may mean small lifestyle differences to us when it is time to retire.  Consistency is so important in retirement planning and any change in financial circumstances is an opportunity to improve your life when you retire.

Individuals that invest with financial planners are actually much more satisfied with their investments than individuals who invest on their own.  This means that financial planners will make you more money with the money you invest and cost you less time.  Safe retirement solutions will do everything it can to ensure client satisfaction equals financial gains for you!

If you have any questions about what you have just read, or if you would like to know more about trusts and retirement planning, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources

http://money.usnews.com/money/blogs/on-retirement/2011/09/07/little-known-advantages-of-hiring-a-financial-

http://www.401khelpcenter.com/press_2012/pr_retirementadvisorcouncil_011312.html#.U1U0Z1ca3nY

Conducting A Review of Your Estate Plan

Monday, April 7th, 2014

Your estate plan is successfully implemented. Now you are done, right? Wrong. There is still one critical step that remains: carrying out a periodic review and update. This is important because, let’s face it, life is not predictable. Things change. People retire, people get divorced, people move, people die, laws change, the stock market fluctuates, and much more! And each one of these individual circumstances can have a major impact on your estate.retirement benefits

A periodic review can give you peace of mind. And how often should you conduct a review of your estate plan?

Large Estates: Those of you with large estates should review your estate plan annually.

Small Estates: Those of you with smaller estates should review your estate plan every five years, minimum.

Major Life Events: Aside from the above recommended reviews, you should also look at your estate plan after any major life event, including:

•      Changes in estate valuation

•      Economic changes

•      Changes in occupation or employment

•      Changes in family situations

•      Changes in your closely held business interest

•      Changes in the estate plan

•      Major transactions

•      Changes in insurance coverage

•      Death of trustee/executor/guardian

•      Other important changes

If you have any questions about what you have just read, or if you would like to know more about trusts and retirement planning, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

How Can I Achieve Financial Security?

Tuesday, February 18th, 2014

When it’s time for you to retire, will you be able to afford it? Almost all of the research conducted on the subject, over the last few years, shows that most individuals are unable to demonstrate financial readiness for their retirement years. This only serves to underline the fact that saving for retirement is a challenging process that requires careful planning and follow-through. Here we review some helpful tips that should help you on your way to a comfortable retirement.

Start as Soon as You Can
It is obvious that it is better to start saving at an early age, but it is never too late to start – even if you are already close to your retirement years – because every penny saved helps to cover your expenses.

Treat Your Savings as an Expense
Saving on a regular basis can be a challenge, especially when you consider the many regular expenses we all face, not to mention the enticing consumer goods that tempt us to spend our disposable cash. You can guard amounts you want to add to your nest egg from this temptation by treating your retirement savings as a recurring expense, similar to paying rent, mortgage or a car loan.

Diversify Your Portfolio
The old adage that tells us that we shouldn’t put all of our eggs in one basket holds true for retirement assets. Putting all your savings into one form of investment increases the risk of losing all your investments, and it may limit your return on investment (ROI). As such, asset allocation is a key part of managing your retirement assets

Consider All of Your Potential Expenses in Your Financial Plan
When planning for retirement, some of us make the mistake of not considering expenses for medical and dental costs, long-term care and income taxes. When deciding how much you need to save for retirement, make a list of all the expenses you may incur during your retirement years. This will help you to make realistic projections and plan accordingly.

Budget
Saving a lot of money is great, but the benefits are eroded or even nullified if it means you have to use high-interest loans to pay your living expenses. Therefore, preparing and working within a budget is essential. Your retirement savings should be counted among your budgeted recurring expenses in order to ensure that your disposable income is calculated accurately.

Work with an Experienced Financial Planner
Unless you are experienced in the field of financial planning and portfolio management, engaging the services of an experienced and qualified financial planner will be necessary.

About Safe Retirement Solutions

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

If you have any questions or want to know more about what we can do for you, please contact Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

You can also follow Safe Retirement Solutions on Facebook and Twitter.

How To Financially Plan After College

Monday, January 13th, 2014

After graduating from college, young men and women have many things to worry about, especially when it comes to finding a job in today’s business world.  But what many recent grads fail to take into consideration is their financial future.

The best time to start saving for your retirement is NOW!

Financial Advice for Recent College Graduates

  1. Save as much as you can now: Try and save as much money as you can while you are young. Odds are that the future will bring with it many more financial obligations, including a mortgage and a family. But saving along isn’t enough…
  2. You need to Invest: Making the right investments now can make all the difference in the future.
  3. Talk to your Employer: Most companies offer a 401K match plan, which means that your employer will match all or a percentage of what you put away for retirement. If you do not take advantage of this, you are essentially leaving money on the table.
  4. Contact Safe Retirement Solutions: We are a full service, independent financial advisory firm dedicated to providing you with the very best in retirement income planning. Our President and CEO Rod Borowy has been helping people achieve their financial goals since 1975. He considers all of our clients to be a part of the “Safe Retirement Solutions” family.

For more information about Professional Financial Planning or Financial Advice, consult the financial advisers at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

What Are The Benefits of Professional Financial Planning?

Monday, December 23rd, 2013

When you are thinking about the future with your family, I’m sure you have many concerns. How many dogs should we get? What schools your children will attend? What trips to take with loved ones? When you’re ready to stop day-dreaming and start planning, you’ll realize that the first step working towards the future is cultivating a stable financial nest.retirement savings

The benefits of professional financial planning lend themselves to all future matters, big and small. Most importantly, you want to have a stable financial future.

Benefits of professional financial planning

  • A professional financial advisor will help you set realistic plans. Both long term and, more importantly, short term plans will need to be weighed in order to plan what you can and cannot accomplish, and what it most important to you.
  • You will be able to develop an in-depth, concrete, look at your assets, liabilities, income, insurance, taxes, investments and estate plan.
  • Financial planning is imperative for investment plans, especial ones over 100k that you don’t feel comfortable managing.
  • You will be able to confidently manage expenses as a cohesive family unit, especially when your combined earnings are over $150,000 or higher.
  • Financial Planning will help you understand the risks. Some risks may be advisable, some may be suicidal, it all depends on your current and future prospects, and what goals you’d like to focus on.
  • Help keeping you active. Depending on the level of personal importance, future goals will come and go. Your income will also fluctuate. A personal financial advisor will know how to strategize based on your financial history and current/future changes.

What a professional financial plan really gives you is time. With help from an advisor you save and create free time by planning and effectively managing your financial situation. By building that nest you are planning for the big score, and not wasting time on ineffective, short term expenses.

A financial plan gives you peace of mind in the short term, and confidence for the long term.

For more information about Professional Financial Planning, or for professional financial advice, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today! Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime. You can also follow Safe Retirement Solutions on Facebook and Twitter.

Source :

http://www.nerdwallet.com/finance/question/what-are-the-benefits-of-having-professional-financial-advice-16

Benefits of IRA Legacy Planning

Monday, September 30th, 2013

Protecting and preserving your retirement savings is just one of the many crucial aspects that go into planning for retirement. If handled properly, an IRA can sustain you throughout retirement and provide a significant inheritance for your loved ones or favorite charity. If not handled properly, your beneficiaries could end up losing as much as 80% of your retirement savings to taxes. 

There is a solution – IRA Legacy Planning.

This important retirement planning strategy helps secure how you will pass along your hard-earned savings. IRA Legacy Planning ensures that your IRAs and other qualified plans are properly incorporated into your estate plan.

Benefits of IRA Legacy Planning

•      Increase the extent and validity of your retirement savings

•      Minimize taxes on the transference of your retirement savings

•      Provide a significant inheritance for your loved ones

•      Ensure the “Stretch IRA”

•      Avoid common mistakes that could result in unnecessary taxes and loss of assets

•      Communicate instructions to beneficiaries upon your passing

If you have any questions about what you have just read, or if you would like to know more about IRA Legacy and retirement planning, consult a financial advisor like Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

IRA Legacy Planning: Protecting Your Life Savings