A new Ohio law attempts to impose ‘best interest’ fiduciary standards onto life insurance and annuity providers. However, these standards are extremely vague and still leave from for abuse to consumers. Many annuity providers and so-called financial advisors plant their product as a solution to a variety of problems, when in reality another product is likely more useful. Below are 4 cautionary tales from clients that have come to us for help in the past. If any of these situations have happened to you or a loved one, or are currently happening, we encourage you to seek out additional financial tools and professionals.
Over the past few weeks, I’ve been asking my clients to send me their most recent tax return. By looking through their returns for missed opportunities and mistakes, there’s a few patterns I’ve noticed.
Permanent life insurance policies offer both a death benefit and cash value, which you can withdraw from at almost any point in your life. Life insurance offers more flexibility, and ROI than many other savings options.
A private annuity arrangement supplies the annuitant with a stable retirement income, keeps assets within the family, and minimizes the tax burden for heirs.
Life insurance is a great tool that you can use to compound your wealth. The problem is that many life insurance and annuity companies advertise insane promises that they can’t keep and aren’t transparent about their business practices. You need to research these companies before working with them.
As the baby-boom generation phases into retirement, the future of social security is uncertain. There are a few strategies the government may use to close the gap in income, and you need to be prepared for each possibility.
Americans are feeling a distinct lack of confidence, particularly when it comes to retirement. Whether employed or unemployed, the survey found that 23% of workers are no longer certain they can retire comfortably following the coronavirus pandemic.
The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE) became effective Jan. 1, 2020, and many people have questions about it.
Here are the top 5 things consumers should know.
None of us can predict the future, but we can plan. Inflation diminishes purchasing power over the years and increases the costs of services that retirees and pre-retirees need. Given that more Americans are living longer, it can pay dividends to include inflation risk in your overall planning.