Retirement News & Updates
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 Turney Financial Group, LLC can assist you in building your portfolio in a way that distributes risk and prepares your retirement savings for growth in
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
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
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
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 “COVID-19 has accelerated many of the trends that were already challenging the outdated study-work-retire model…” and has us rethinking retirement.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
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
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
Limited Time Bonus
Did you hear? A major insurance carrier is offering a larger than ever BONUS on one of its products. It’s too good, and only offered for a limited time! Call us so we can provide you with all of the updated information.
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
Start the new year off right
“Figuring out how much money you need to retire is like one of those word problems from high school that still haunts you.” This week’s article tells us that “The retirement equation isn’t unsolvable, but it’s not a precise calculation, either. You’ll need to revisit your retirement formula once or
Holidays and Financial Stress
Did you know that according to one 2019 survey roughly 48 million Americans were still paying off 2018’s holiday debt by the 2019 holiday season? Therefore, it shouldn’t be surprising that a more recent survey conducted this year by Goldman Sachs found that 50 percent of Americans think gift-buying is
Healthy Mind and Healthy Body
This week’s article reminds us that notwithstanding the trials and tribulations of the pandemic, one thing COVID does to benefits us, is that it demands healthy aging. There have been and will continue to be many wide-reaching implications which include not just direct health impacts; if the pandemic teaches us
Marshmallows and Social Security
I thought you would enjoy this week’s article as it explains the old “marshmallow test” in answering the question of “should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then?” You may ask “What do Social Security benefits and marshmallows have
Time to reflect
With one month to go until the new year, it might be a good time to reflect on the status of your retirement savings in order to better understand what your choices and needs will be in 2021. Take a look at this week’s article for a few retirement calculators.
Insurance needs change when you retire
This week’s article reminds us that “Senior insurance needs are different. Time to drop the disability coverage and review your other plans.” The most obvious insurance retirees need to maintain is health insurance. While most seniors age 65 and older are eligible for Medicare, Medicare doesn’t cover 100% of medical
What matters is if you are concerned
This week’s article highlights a Harris Poll that showed “workers who have been laid off or had their hours reduced amid the pandemic are particularly concerned about their future.” “70% say they are worried about running out of money in retirement, 61% say they are much more afraid of life
No, the Tax Laws have Not Changed
We’ve been receiving calls from people thinking that somehow, with the election having just occurred, there are tax law changes that have already been enacted, or that 401(k) and IRA money is slated to be taxed. No, the Tax Laws have not changed. From time to time it is difficult
Some Critical Moves
This week’s article points out that “Social Security payments are one of the biggest assets that most people have,” and “how you handle that income has an important impact on an overall plan.” A “critical move” that is highlighted is not only to know your full retirement age and to