Making the most of Social Security Retirement Benefits

Beach photoThe importance of Social Security cannot be overstated. The program provides approximately 60% of America’s seniors with half of their monthly retirement income, and for a third of recipients it comprises over 90% of their income. Despite this heavy reliance, less than 5% of seniors avail themselves to strategies designed to maximize their lifetime income and relieve the burden of poverty in old age.   Continue reading

Ready to Retire? How to Properly Frame the Investment Allocation Conversation.

Retirement puzzleYoung investors are often told to embrace risk in their portfolios. The ups and downs of the markets are an ally in the pursuit of long-term growth, and losses only matter when they’re realized. Rarely is this common and often correct advice applied to investors that are nearing retirement. But indeed it should. Not because sixty is the new forty, but because investment allocation decisions should be based on when the invested funds will be needed, not on how old you happen to be. Continue reading

How Planning for a Long Life Impacts your Retirement Income

Nest Egg with large billsRetirement planning involves a delicate balance between adequately planning for a long retirement and maximizing the enjoyment of the money you’ve worked hard to accumulate. In most cases, a retirement that lasts 35 years will require far more financial resources than will one that lasts 20 or 25 years. What is more, the final years of retirement may be the most expensive, as costs associated with chronic or end-of- life care come due. Advances in medical technology have extended life expectancy for many, but certainly not all, demographics. Longevity is a critical consideration of retirement planning, but so too is recognizing that living to an advanced age demands more retirement savings or a lower lifetime income, and whether this is justified based on your current health, lifestyle and family history. Continue reading

The Importance of Delegating Medical & Financial Decisions

Will-Contest-Cartoon

A thoughtful retirement income plan involves varying degrees of monitoring and oversight to ensure continued success. While this may be readily apparent at the onset of planning, many otherwise well-constructed plans fail to consider what happens if active participation is no longer possible. Planning for mental incompetency is an often overlooked component of planning that can have devastating emotional and financial consequences. Thankfully, it can be proactively addressed through proper planning.

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