There’s Still Time to Put Money Into an IRA for 2012

What would you say to someone in their late 40's who had no retirement savings?  Are you one of those people?  While it is certainly not the best case scenario to have no retirement savings in your 40's, starting now is better than never saving at all.  CNN Money's Walter Updegrave was asked in "Help! I'm in my late 40's, with no retirement savings," what a single woman in her 40's should do in this situation.  I'm glad he wasn't doomsday with her in his response, although the truth is a... Read More

NPR Offers A Word of Caution on Annuities

Last week the NPR staff discussed annuities and some things you should look out for when considering the investment in your future.  In "Annuities Explained: The Choices and Red Flags," they got some of their information from Kiplinger's Kimberly Lankford.  While she certainly isn't a big supporter of annuities, she gives good basic information and tells you what to consider before making your purchase.  Due to the fact that insurance companies and others who sell annuities make $200 billion... Read More

Financial Advisors: Pay Attention to Generations X & Y

The terms "Generation X" and "Generation Y" are marketing terms without concrete dates, but they typically refer to people born between 1965 and 1999.  Baby Boomers get a lot of attention from financial companies and advisors, but these Gen X and Gen Y Americans should be getting some attention as well.  According to Insurance News Net's Robert Dixon, "Gens X And Y (are) Uninformed About Financial Products."  These generations have money to spend and should definitely be considered important... Read More

You’ll Never Regret Saving for Retirement

More than one recent study has shown that only half of Americans are saving for their retirement and that is just dismal.  Not even all of those savers are putting enough money aside to maintain the standard of living they desire.  According to U.S. News & World Report's Emily Brandon in the article "7 Obstacles to Saving for Retirement," 42% of savers actually have enough put aside to live comfortably in retirement.  Not only does she offer seven reasons why it is hard to save for... Read More

Simple Rules to Follow to Be Rich in Retirement

Once you get rich, you can use some of your money to guarantee a lifetime stream of income from an annuity product.  That way, you'll never have to worry about running out of that money you worked so hard to earn.  "How to Get Rich Slowly" by Tom Sightings was recently published in U.S. News & World Report Money section.  Mr. Sightings acknowledges that while there are a few exceptions who make billions of dollars quickly (think Mark Zuckerberg of Facebook fame), most people have to make... Read More

New York Life Sells $1B of Deferred Income Annuities

The Wall Street Journal's MarketWatch recently published an article by Anne Tergesen stating that "More boomers (are) buying 'longevity' annuities."  While immediate annuities are still a popular choice for retirees, some younger Baby Boomers are purchasing deferred annuities as early as their 50's, even though they won't start receiving payments for another decade or so.  Last year the government made it easier for 401k plans to offer annuities because they believe that annuities are a good... Read More

Look at the Schwab Retirement Income Variable Annuity

Pacific Life Insurance Company has issued a new variable annuity product that will only be sold through Charles Schwab.  This new product is expanding the already present relationship between the two companies, who already offer a single-premium immediate fixed annuity, the Pacific Income Provider.  Their newest venture is simply called the Schwab Retirement Income Variable Annuity.  Through a Business Wire press release, Pacific Life says that this variable annuity is focused on offering... Read More

Employees Seek Retirement Plan Help, Especially Generation DC

Asset manager State Street Global Advisors (SSgA) recently asked people participating in a company retirement plan about what they liked and what they'd like to see more of.  Their study results are detailed in the Business Wire press release "401(k) Investors Want Automatic Savings Increases and More Help in Making Better Retirement Decisions According to New Study from State Street Global Advisors."  They found that the youngest working generation, referred to as Generation DC, desires even... Read More

Buy An Annuity for Your Valentine

Before I get started, I must admit that I found this Marketwatch article just a bit sexist, but I realize the audience to which Stan Haithcock was speaking will appreciate it.  In "Guess what? Your wife loves annuities," the Annuity Man says that when he is giving financial presentations, he knows that many of the men he is speaking to are not fans of annuity products.  But when their wives come along to the tropical locations and hear what annuities have to offer, they immediately want their... Read More

Insurance, Like Annuities, Helpful for Retirement

In "Three Insurance Policies That Could Help Pay for Retirement," Jennifer Nelson discusses the benefits of annuities, permanent life insurance, and return of premium term life insurance.  Fox Business published the Insure.com article which stresses that you should first contribute all you can to your 401k plan and other tax benefit plans until you have maxed those out.  Most people underestimate the importance of insurance and don't even know how it could help boost your retirement... Read More

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