- What Is the Railroad Retirement Program?
The Railroad Retirement Program is a federal program that extends retirement benefits to railroad employees. The program was established in the 1930s and in addition to retirement benefits, it also pays survivor, unemployment and sickness benefits to eligible railroad workers… read more…
- How to Retire Comfortably at 62
The key to retiring at age 62 is to assess your current assets, estimate future income and preferred lifestyle, including whether you’re willing to work part-time, and how you’ll pay for healthcare until Medicare kicks in. While 65 is the… read more…
- How Much Do Different Assisted Living Options Cost?
The average cost of assisted living was $4,000 a month in 2018, according to Genworth Financial, which has been tracking costs since 2004. Across the country, though, the price of assisted living varies widely depending on such factors as location,… read more…
- Who Is Exempt From Social Security Taxes?
The vast majority of American workers pay in to the country’s Social Security system through payroll taxes. These taxes provide retirement and disability income, as well as death and survivorship benefits. Still, not every worker is required to pay them. Knowing… read more…
- What Is Fiduciary Liability Insurance?
Fiduciary liability insurance protects companies from lawsuits if they makes errors or fails to act in employees’ best interests. For example, if beneficiaries of a 401 (k) plan accuse administrators of charging excessive fees, the insurance pays the company’s legal-defense… read more…
- What Are Activities of Daily Living?
Individuals who are turning 65 have a 70% chance of needing some form of long-term care during their remaining years. While the majority of these care needs fall under a short-term care plan, about 25% of these individuals will need… read more…
- What is an Elimination Period?
Before your long-term care insurance or disability insurance coverage kicks in, you may be disabled or hospitalized for a length of time. This period is known as the elimination period. Read on discover how an elimination period can impact your… read more…
- Can You Have Both a 401(k) and a Roth IRA?
Investing in both a 401(k) and Roth IRA can be a powerful combo for any retirement savings plan. That is, if you’re eligible. Here’s what to know about qualifying for a Roth IRA and how opening one in addition to an… read more…
- What Is an Average Roth IRA Return?
A Roth IRA is a smart way to grow your savings for the future. These investment accounts offer tax-free income when you retire. Of course, any return you see on a Roth IRA account depends on the investments you put… read more…
- What Is a Multi-Year Guaranteed Annuity (MYGA)? Definition and Benefits
A multi-year guaranteed annuity, or MYGA, offers a predetermined and contractually guaranteed interest rate for a fixed period of time. A MYGA is just one way to create an additional savings bucket for retirement. In other words, it will help… read more…
- 4 Ways to Get Out of an Annuity
Annuities can provide guaranteed income for retirement. But at some point, you may decide you no longer want or need an annuity you’ve purchased. If buyer’s remorse has you wondering if it’s possible to recover your investment, we’ve got news… read more…
- How Much Does an Annuity Cost?
Adding an annuity to your retirement plan could make sense if you’re looking for a guaranteed stream of income. But the fees associated with one can be difficult to decode if you’re not an insurance or investing expert. Here’s what… read more…
- What Is a Single Premium Deferred Annuity (SPDA)?
A single premium deferred annuity is a financial tool you can use to plan for retirement. This insurance product offers you guaranteed income, beginning at a date you specify, along with tax-deferred growth of interest earned on your policy. If… read more…
- Types of Long-Term Care Facilities
Though probably the most well-known, nursing homes are just one of many types of long-term care facilities available to seniors. Facilities vary by level of services. Assisted living residences and adult foster care homes are at the low end of… read more…
- Assisted Living vs. Nursing Homes: Key Differences
Assisted living facilities and nursing homes differ in many ways, including the type of care provided, cost, and offerings for residents. You or a family member may need more help in retirement than family and friends can provide. Residential facilities,… read more…
- What Is a Flexible Premium Deferred Annuity?
If you’re thinking of purchasing an annuity for retirement income, know that they’re not all the same. A flexible premium deferred annuity offers a way to buy an annuity, without having to pay a large lump sum premium all at… read more…
- Annuity Payout Options: What is Period Certain?
An annuity can provide predictable, guaranteed income in retirement. You can also use an annuity contract to schedule payments from a structured settlement or a financial windfall, such as a lottery payout. A period certain annuity lets you choose when… read more…
- How an Annuity Death Benefit Works
Annuities can generate income for retirement. However, most annuities also feature a standard death benefit. That lets you pass on assets from the annuity to an heir after your death. If you have an annuity of you’re thinking of purchasing… read more…
- Independent Living vs. Assisted Living
More than 70 million aging adults will strain U.S. financial and medical institutions in the near future. Their Millennial children, struggling with student debt imposed by the Boomers’ choice to defund higher education in favor of tuition increases, will be… read more…
- Breaking Down Annuity Fees and Charges
Annuities, which are insurance products, are an important part of many Americans’ retirement plans because they can offer guaranteed payments. Insurance companies offer annuity contracts, which allow you to pay a premium in exchange for regular payments, and in some cases, investing… read more…
- Do Medicare and Medicaid Pay for Assisted Living?
Assisted living is one of the most difficult parts of elder care. Expensive, with costs driven by both residency and the skills involved with this care, assisted living leaves many seniors struggling to pay for it. Does Medicare pay for… read more…
- What Is a Joint and Survivor Annuity?
When you purchase an annuity, you’re buying an insurance contract to provide guaranteed income for yourself. You can purchase an annuity to benefit yourself but if you’re married, you could choose a joint and survivor annuity instead. Learn more about… read more…
- Qualified vs. Non-Qualified Annuities
Annuities can be a source of guaranteed income for retirement, as well as a way to schedule payments from a structured settlement. For tax purposes, they may be categorized as qualified or non-qualified annuities. More specifically, a non-qualified annuity is comprised of after-tax assets, whereas a qualified annuity is made up of cash that has… read more…
- How Much Does a Nursing Home Cost?
Nursing home costs may work their way into your retirement plan. You may have to help pay nursing care expenses for an aging parent, for example. Or long-term care may be necessary for your spouse or yourself as you grow… read more…
- A Guide to Inheriting a 401(k)
Inheriting a 401(k) on the death of the account owner isn’t always as straightforward as inheriting other types of assets. The IRS has certain rules that 401(k) beneficiaries must follow to determine when and how much tax they’ll pay to… read more…