An owner-only 401(k) plan is a way to combine the tax advantages of an employer-sponsored retirement plan with pre-tax personal retirement savings. Reaching a Financially Sound Retirement The Social Security Administration estimates that less than 20% of retirees have an income of more than $75,000. This means that 4 out of 5 people who are … Continue reading Owner-Only 401(k) Plans vs. Other Retirement Savings Options
Successful businesses and key employees go hand in hand. Often, a successful business has at least one key employee who is responsible for the success or failure of the business. If a business loses one of these key employees, a business can experience several problems. Reduction in Earnings – If a few key employees are … Continue reading What is a Selective Executive Retirement Plan?
Many retirees have found that with inflation and rising health care costs, their planned income for retirement is not meeting their needs. Some have turned to reverse mortgages to supplement their retirement income. What is a Reverse Mortgage? A reverse mortgage is a loan taken out on a home that allows the homeowner and spouse … Continue reading Use Your Home as Disposable Retirement Income
Almost everyone has heard of a reverse mortgage, but few people really understand how a reverse mortgage works or if it is right for them. A Reverse Mortgage Review A reverse mortgage is a loan paid to someone who owns their home or has enough equity built up in their home where they can borrow … Continue reading How to Decide if a Reverse Mortgage is Right for You
When reviewing a person’s assets, liabilities, health, and choices for healthcare facilities during retirement, a qualified financial planner will often mention long-term care insurance. However, those who are considering this option often have trouble separating fact from fiction. The first fact is that few people are prepared to handle the financial burden of long-term health … Continue reading Long-Term Care Insurance: Fact Vs. Fiction
With the odds of a person over 65 years of age needing long-term care at some point in their life, creating an asset-based long-term care solution can help provide them with the financial security they need and deserve in their retirement years. Without any sort of long-term care plan, many people will quickly drain their … Continue reading Fact vs. Fiction: Long-Term Retirement Care
In our last article in this blog series about IRA rollovers, we introduced earning power and what it means for one’s financial future. We also discussed some of the options available to employees who have employer-sponsored retirement plans but are transitioning to new jobs with new employers. When you have a retirement plan with a … Continue reading Protecting Retirement Assets: An IRA Rollover Review Continued