Tuesday, May 5, 2015

9 Things You Need to Know About FUNERAL PLANNING

The Funeral Rule of 1984 was written to protect you.

The Funeral Consumer Guardian Society believes it is in the best interest of families everywhere to be aware of their consumer rights, as stated in this important law. The law was enacted in 1984 to stop funeral homes from persuading people to buy goods and services they did not want or need, and charging them highly marked-up prices on the items they did want.

  • General price list (GPL)—Funeral homes must provide a dated price list before arrangement discussions begin.
  • Telephone price disclosure—A funeral home must give accurate prices regarding their GPL, casket price list or outer burial container price list.
  • Casket price list—Funeral homes are required to show a dated, printed casket price list that also lists alternative containers.
  • Itemized statement of goods and services—Once arrangements are made, a funeral home must provide a statement itemizing each service and product chosen, its separate cost, and the total.
  • Embalming—A funeral home must notify you if embalming isn’t required by law in your state. Also, it may not embalm without prior consent.
  • Casket—A funeral home can’t refuse a casket bought from an outside source or charge a handling fee.
  • Preservation and protective claims—A funeral provider can not tell you that embalming, sealer caskets or sealer burial vaults will preserve the body indefinitely in the grave. Similarly, they cannot claim such features will keep out water or dirt if that is not true.

Funeral costs have been growing much faster than the overall Consumer Price Index.

With no funeral plan to guide them, survivors are almost sure to overspend by hundreds of dollars, or even thousands.
  • There is the emotional upheaval of losing someone close to them.
  • There are pressing time constraints to consider.
  • There are many on-the-spot decisions that have to be made.
  • There is no prior experience regarding what’s needed or not needed.
  • There are the funeral homes and cemeteries and other providers trying to make the highest profit they can.

Shopping for the right funeral home could be the difference between paying $2,000 and $10,000 for the same funeral.

Some of the price ranges we found:   Low   High

Transfer of body to funeral home ........ $150    $400
Basic service fee of staff/overhead ...... $295    $2,000
Embalming       ....................................  $300    $695
Other body preparation  ....................... $100    $395
Morning ceremony at funeral home ..... $250    $695
Evening visitation at funeral home ....... $325    $1,000
Hearse rental (half-day)  .......................$275    $500
Casket     ...............................................$450    $16,000
Burial Vault    ........................................$300    $8,000

Source: Susan Fargo, Chicago Tribune

Life insurance is one of the most efficient and trusted ways to finance final expenses.

  • Benefit goes directly to the beneficiary.
  • There’s no federal tax on insurance benefits in most cases.
  • The proceeds are not tied to any particular funeral industry provider—they can be used anywhere in the world.
  • Insurance benefits avoid the possibility of any probate court tie-up.

Small local funeral homes usually have the lowest prices.

According to a recent report by a national consumer reporting organization, small locally-owned funeral homes will often charge as much as $1300–$2000 less than large independent and nationally-owned funeral homes. Nationwide, here are median prices charged by small local chains:

$1,110 Immediate cremation with minimum casket/container.

$1,384 Immediate burial with minimum casket/container.

$3,099 Standard funeral with alternative casket/container.

$4,067 Standard funeral with 20-gauge steel casket.

$4,670 Standard funeral with solid wood casket, (excluding mahogany/walnut/cherry).

$4,845 Standard funeral with 18-gauge steel casket.

$6,125 Standard funeral with stainless steel casket.

$6,997 Standard funeral with mahogany, walnut, cherry casket.

$7,100 Standard funeral with bronze/copper casket

Shipping remains for burial elsewhere in the U.S. can increase funeral costs by as much as $2,000.

  • People who retire out-of-state, but wish to be buried back home someday, should make sure their funding arrangements will cover this additional cost.
  • Also, if a person dies overseas on vacation or business travel, it can cost as much as $12,000 to have the remains shipped back home for burial.
Source: Assist America, Inc. (AAI)

Insurance benefits often go unclaimed because the beneficiary simply did not know about the policy — or couldn’t find it.

  • The Funeral Consumer Guardian Society can make sure loved ones know about any life insurance policies you may have now, or in the future.
  • Beware of using a safe-deposit box to store your important documents, which can result in time-wasting legal clearance efforts that will have to take place before the box’s contents are made available.

Your funeral funding will give those handling your final arrangements enough money to work with.

  • Add up what you reasonably estimate your funeral will cost some day. Don’t forget cemetery costs, marker costs, flower costs, outer burial container cost... anything else your plan calls for.
  • Subtract what you have in place for your expenses right now.
  • Make up the difference by taking advantage of a sound funding plan.

You will be rewarded for having taken the time to obtain this little booklet published by the Funeral Consumer Guardian Society.

If you are seeking to take control of how your funeral will be conducted, having this helpful information at your disposal may be worth hundreds, even thousands, of dollars in savings toward your funeral costs.

The mission of the Funeral Consumer Guardian Society is to help its members make sure things go smoothly and easily for the people who will be handling their final arrangements for them some day. 

Free Safekeeping of Funeral Instructions: Your instructions will be stored in the Society’s secure computer archives, accessible only to you and people you choose. Make changes whenever you wish.

Free Auxiliary ID Cards for Loved Ones: You will have four auxiliary membership ID cards featuring the Society’s toll-free number. They are for those most likely to handle your final arrangements. 

Free Family Support: Upon notification of your death, the Society will immediately contact the funeral home you select, and inform the funeral director of your final arrangements —with emphasis on staying within your pre-determined budget.

Thursday, April 30, 2015

Why you should Pre-plan for Burial Arrangements

Thinking about your own funeral leaves most people feeling a little uneasy, but more adults are finding that preplanning a funeral offers great emotional and even financial security for them and their families.

When preplanning, families find comfort in knowing that the funeral reflects what their loved one wanted. It also gives them peace of mind to not have to make important decisions at a stressful time.

We often hear the phrase “I wish I knew what Mom would have wanted.”... Leaving your burial arrangements to others at the time of death is a recipe for needless stress and strain.

Pre-planning lifts a tremendous emotional burden from surviving loved ones, creating an environment in which to better support each other and celebrate the life of the departed. After you've made those pre-arrangements, you should keep the plan and any pertinent paperwork in a safe place.

Also, inform a close friend or relative what arrangements have been made and where the information may be found (We provide that service for free when you acquire a Lincoln Heritage Funeral Advantage Program).

You and your family members will have peace of mind knowing that your burial wishes are met, while also ensuring that surviving loved ones will be spared making last minute decisions under pressure, allowing them to grieve appropriately and eliminating any disagreements during an emotionally charged time.

Pre-planning your funeral can be very informal, and as simple as following our pre-planning checklist and sharing your wishes with a family member through the FCGS free membership when you join Lincoln Heritage Funeral Advantage.

Like it or not, death will visit even those who don't want to be there when it happens. And like it or not, death is  a costly affair. To beat the high cost of dying, more people are starting to consider preplanning and prepaying.

When you pre-arrange, you have control of the decisions relating to your death (the disposition of your body), the funeral or memorial services, what you want your obituary to say about your life, and a reasonable budget which will ease the financial burden for your surviving members.

"If you wait the last minute, it's too stressful" ... "You're at the worst day of your life to make decisions"... But pre-planning is simply making arrangements ahead of time. Preneed means prepaying, and preneed programs are actively sold by mail, by telephone and in homes (the way we do it).

For many, life insurance is a great death-benefit protection for families. When the breadwinner dies, the survivors get the money to help provide for the family. But life insurance can be used for other purposes, including paying for funeral expenses. Most people purchase a life insurance with a small face value specifically to cover funeral costs. Yearly premiums are easier to handle, often in monthly installments with carrying charges built into the cost.

Good, affordable for those with limited means. It also grows at the same rate and there's no need to report it on a 1099 since it's not considered taxable income. If you're confused with all the choices, get help from a good insurance underwriter (like myself) to evaluate your insurance needs.

There are a number of options for financing funerals, and when you pre-plan your funeral, you can take advantage of the best program available for you. Options include pre-need insurance policies, bank or funeral trusts, life insurance, and annuities... But which one's right for you?

Lincoln Heritage and the Funeral Consumer Guardian Society (FCGS) have partnered creating Lincoln Heritage Funeral AdvantageTM to serve the Senior Market at
No extra cost to your policyholders. Funeral Advantage offers the senior consumer:

  • Funeral Planning assistance — provided by FCGS (They can help answer questions about funeral planning)
  • Funeral Funding — provided by Lincoln Heritage (Upon passing, a benefit check can be in the hands of the beneficiary within 24 hours of claim approval, possibly sooner)
  • Consumer Protection — provided by FCGS (Consumer Protection guards loved ones responsible for making funeral purchases)

FCGS helps REAL PEOPLE everyday, and YOU give us the ability to help you as well!... Saving clients over $12 Million during 2013!

FCGS Video

Wednesday, March 25, 2015

Final Expense Insurance

With the average funeral cost around $10,000, making final arrangements for a loved one is one of the largest expenses a family will face today. Final expense insurance provides seniors with the peace of mind that when they pass, their loved ones will not be burdened with high funeral expenses or burial expenses.

Final expense insurance for seniors can be a life saver to families whose savings may already be depleted due to nursing home care, long term care, hospital stays or hospice care. Through final expense insurance, seniors can offer financial protection to their families for just pennies on the dollar.

Agents (like myself) working with prestigious companies like Lincoln Heritage help families prepare for the difficult times ahead by assisting them in the selection of final expense insurance for their loved ones. Through proactive final expenses planning with a Symmetry Financial Group, families can rest assured that the high cost of funeral expenses and burial expenses associated with a loved one’s passing will not become a burden down the road.

With aging baby boomers expected to double America’s senior population to 71-million by the year 2030, the current demand for insurance for seniors is steadily increasing, and the need for final expense insurance is on the rise!

Prepare for the future before it's too late and protect your family, contact me today.

Monday, March 23, 2015

Mortgage Protection Insurance

Mortgage Protection Insurance

mortgage protection insurance
Explaining it the simplest way, mortgage protection insurance is no more than an insurance policy that will pay the amount the beneficiary selects, up to the remaining balance owed on the home, in the event of your death. This benefit covers the outstanding principle balance owed on the primary mortgage, making payment directly to the lien holder (beneficiary).

For those families in a two-income household or where there is one primary breadwinner, mortgage protection insurance provides the peace-of-mind that in the event of your death, your family will not be held liable for paying a mortgage they may no longer be able to afford.

Mortgage Protection Insurance (MPI) vs. Mortgage Insurance Premiums (MIP)

While mortgage protection insurance offers an economical benefit for hundreds-of-thousands of families across the U.S., it can prove challenging to sell. This type of insurance is often misunderstood by consumers who confuse it with the mortgage insurance premium (MIP) they pay on their FHA loan. Private Mortgage Protection Insurance (MPI) and the FHA Mortgage Insurance Premium (MIP) are two completely different types of coverage.

The MIP, or Mortgage Insurance Premium that a consumer pays on a home loan protects the government, not the consumer. In the event of a foreclosure, the government will receive a percentage of the money owed on the home, paid out of the loan’s MIP. The consumer will still have to file for bankruptcy and the family will lose their home.

MPI, or mortgage protection insurance, protects the consumer and their family. If a death results in the family no longer being able to afford mortgage payments, the Mortgage Protection Insurance policy will pay the remaining balance owed on the home, negating the need to file for bankruptcy and allowing the family to keep their home.

Selling mortgage protection insurance requires an agent to be knowledgeable about the misconceptions associated with this product. He or she can act more as an educator and counselor, than a salesperson. 

Symmetry Financial Group has established a proven sales and training system to enable agents to achieve financial rewards and the rewards that come with the sense of helping families acquire mortgage protection insurance.

mortgage protection insurance

Sunday, February 22, 2015

Ten Facts About Retirement Savings

Most retirees are ready for free time and less stress in retirement, but some aspects of their retirement can become unexpected. They also have high financial and health concerns, and the extra free time is only fun if you're able to use it well. Below are Ten ways retirement might surprise you.

1- It can be easy to spend all of your savings.
After many years accumulating enough money for you to retire, it can be psychologically and emotionally devastating to spend that money and see how your nest-egg shrink each year due to illness like Long-Term Care.
Investments growing

2- You need to keep investments growing.
Being able of Saving for retirement is not your end goal at all. You also need to develop a plan to make your money last for the rest of your living years. You also need to understand how you can minimize the risk of your investments, you need a strategy that gives you an opportunity to growth without taking any risk staying ahead of inflation and taxes (e.g. Annuities).

3- Most retirees rely on their Social Security only.
Social Security (SS) is mainly the source of income for the vast majority of retirees. About 86% of retired seniors receive income from SS, and their Social Security payments make up at least half of their retirement income of 65% of retirees. The majority of seniors don't have any other source of income than Social Security, and in December 2014 the  monthly average of their paycheck from SS was about $1,282.

4- Medicare just cover part of it.
Medical bills do not go away once you enroll in Medicare. Even though Medicare covers a large amount (80%) of  your medical treatments as a senior, there are other services that are not covered (e.g. routine eye exams, eyeglass, dental care, long term care or hearing aids) just to mention a few. Medicare only covers up to 20 days in a nursing home without you paying anything (for each benefit period), Days 21–100: $157.50 coinsurance per day of each benefit period and Days 101 and beyond all costs are on you.
Medicare coverage
Retirees who require additional long-term care will need to find another way to pay for it, like buying a Long-Term Care Insurance policy from a private Insurance Co.; I really suggest you find a local Insurance Representative before you join Medicare because you really need to comprehend what benefits you will receive from Medicare when it comes to your Health and understand how it will cover any ongoing or post health issues. If you lives in New Jersey you can contact me and can review with you how Medicare works in the state.

5- Chances are you might spend some time by yourself.
With no schedule or job to commute daily, you can find yourself spending a lot of time alone. According to U.S. Census Bureau data about 44% of seniors 65+ live alone. I suggest you join a volunteer organization in your local area that doesn't require you to travel so far from your residence, in other words stay active within your community.

6- Dating is another choice seniors encounter.
Senior retirementEven though 55% of seniors 65+ still married, there are some that are not (28% widowed-12% divorced-1% separated-5% never married) according to census, as a result these seniors start meeting new friends and also dating in some cases. There are several sites online that focus on seniors 50+ that help them meet new people, friends and even dating.

7- Moving can become a nightmare.
It may sound attractive, but the reality is that the majority of seniors do not relocate, between 2009-2013 only 5.7% of seniors 65+ moved to a new house, but the grand majority did within the same state or county, only 1% moved out of the state their live and just 0.3% decided to move outside US (overseas) the census said. Moving to a new community in your retirement means leaving behind friends, family members and a system in place that can be difficult to rebuild elsewhere.

8- Usually help from others is needed.
We all know aging is part of our retirement years in which we might lose some independence and usually is not fun or welcome for every senior. There may come a time when you are not allow to drive your car anymore, shovel your house driveway or a simple task as climbing on a chair to do some DIY around the house and eventually need help with meals and bathing. Although the beginning of retirement is often full of fun and adventures, it’s also a good time to make
contingency plans for later down the road when you might not be able to care for yourself.

9- TV is the main entertainment for seniors.
Seniors spend more than ½ of their in-front of their TV, ages 65-74 watch around 3.92 hrs during the day and the ones 75+ average about 4.15 hrs daily according to the American Time Use Survey conducted by The Bureau of Labor Statistics.

10- There's no need to hurry.
In comparison to the general population, seniors 65-74 take longer eating, working at a DIY project around the house or in the backyard or even shopping. But contrary to young people retirees spend more time reading, relaxing and volunteering.

Happy Retirement

If you live in New Jersey and have any question feel free to contact me....

Friday, February 20, 2015


5 Worst States for Assisted Living Care Bills

Thursday, February 19, 2015

Disability Insurance

Wednesday, February 11, 2015

Do you know these Social Security facts

People are curious about which claiming strategy is better for them, or for how long their SS benefits will last, and how their particular situation (work history, marital status, annual income) will impacts their income stream when it comes to use the SS benefits. Knowing your Social Security stuff is a great way to be ahead of the crow.

Social Security is part of the retirement plan of almost every American worker. If you’re among the 96 percent of workers covered under Social Security, you should know how the system works, and what you should receive from Social Security when you retire.

If you stop working before you have enough credits to qualify for benefits, the credits will remain on your Social Security record. If you return to work later, you can add more credits to qualify. They can’t pay any retirement benefits until you have the required number of credits.

The number of credits you need to get retirement benefits depends on when you were born. If you were born in 1929 or later, you need 40 credits (10 years of work).

Take the quiz to find out how much you know.

Create your free online surveys with SurveyMonkey , the world's leading questionnaire tool.

Correct Answers

  1. C
  2. A
  3. B
  4. D
  5. C
  6. B
  7. B
  8. D
  9. C
  10. C

We're living longer get ready to pay for it

Tuesday, February 10, 2015

Life Insurance Woes

Life Insurance Woes?... This Article Can Help!

You may receive peace of mind by buying life insurance. On the other hand, it may be troublesome. The advice in this article will tell you what you need to know to find coverage that is right for you.

Buying the correct amount of life insurance for you It can be quite costly if you over buy any insurance, while having too little insurance may leave your family members with needless financial problems. You will feel calmer and more in control if you make good choices when it comes to life insurance.

When choosing a policy for life insurance, don't forget to estimate coverage for not only ongoing expenses, but fixed expenses as well. Be sure to plan for high bills such as taxes, medical bills, and funeral costs.

Make sure that you disclose a job or hobby that might be high risk. While this will mean a higher insurance premiums, it will also ensure that any claims resulting from such risks are not deemed ineligible, it might be considered fraud if you withhold the information.

Inform your family and loved ones about the life insurance policy you choose and what it entails. Let the beneficiary know how much the policy is worth, where to find the documentation for the policy, and the details of who to contact if something happens to you.

Life insurance policies are a wise investment for anyone who has dependents. Life insurance can provide money to your spouse for bills or the house mortgage, or even give your children money for college if you pass away.

If you're healthy, life insurance will cost you less than other people that are not as blessed as you are. Since healthier people tend to live longer, they often get better choices to meet their solutions from insurance companies nationwide.

You can use the Internet to compare life insurance policies or maybe to get some quotes. If you want a detailed list of multiple options, you can utilize websites that compile this data from various insurance firms, and they then provide you with ratings and price comparisons, but I recommend you search for a local Agent / Producer (like myself) and arrange a meeting at his office or if he offers to visit you at the comfort of your residence like I do daily that's the way to go. 

The investment you're planing to do it's very important for you and your Family, so you should build a relationship with your Agent / Producer, get to know him and let him get to know you better.

It is in your best interest to pay premiums once yearly instead of once per month. People who opt for yearly payment of premiums are often able to save some more money, also if you consider an automatic withdraw from your bank account even better.

You should protect yourself by understanding the cancellation procedure for your life insurance before signing on the dotted line. Remember that you might have to cancel your insurance if you cannot afford it anymore. Knowing about possible penalties or fees ahead of time will help you assess whether to cancel or not.

Compare life insurance policies from many different companies before settling on one it's probably helpful for some folks but very confusing for others since every Insurance Company is different even though they may look similar. 

While many policies include an option to stay inforce as long as premiums are paid, others are valid for only a limited amount of time (e.g. 5, 10, 15, 20 or 30 like Term). While two policies can appear very similar in terms of benefits, one provider may offer a considerably lower price. To get the best insurance policy, you need to conduct proper research.

How much life insurance should I purchase? 

First, you need to determine the purpose of the life insurance you're planing to buy. If you don't have any children and are single, then you should think of buying a solution that will help you when you reach retirement age (e.g. Universal Life) which build cash value through the years of the Policy and also will provide you with a death benefit (DF) in case something happen to you.

A general guideline is that your policy should be worth five to ten times as much as you earn each year. Life insurance policies that are classed as "whole" or "universal" are quite expensive, and not always an option to all consumers. 

These policies do offer a savings component or cash value build-up within the policy, and do not have a date of expiration as long as you pay the premiums. 

Most families choose to buy a term life insurance policy, because it's not as costly and gives good protection in case of death, but remember it will be for just a certain period of time.

Insist on buying life insurance only from an established company with good consumer reviews like the one I represent which has been in business for over 130 years. Not every insurer is held in good standing, so choose wisely. Research insurance companies, especially the established ones, they generally are financially sound and offer quality investments.

Life insurance is more complicated than it may seem. There is research that is involved and a lot of questions that need to be asked if you want to get the right policy to protect you and your Family. 

If you follow my tips above you will have a better knowledge and will be more educated to choose the right Life Insurance Policy you need.

If you Live in South Jersey

Will you survive the next stock market crash

Will you survive the next stock market crash?

Keeping a Dream in Place

Wednesday, February 4, 2015

Disability Insurance Saves a Family Twice

Just Nine Months After

When Life Hands You Lemons

Wednesday, January 28, 2015

Do you think fixed annuities are bad for you

Do you think fixed annuities are bad for you?

Do you think fixed annuities are bad for you?

Let’s get this one out of the way first. Even setting aside the reality that there are several distinct types of annuities, and 100's of products of each type, there's no such thing as a category of financial products that is inherently “bad.”

That is not to allege that annuities are proper for everybody; that would be equally ridiculous. Because on most things in life, the solution lies somewhere in between. What is beneficial or risky for a customer depends to a great extent upon their case-by-case circumstances. The perfect customer for a fixed annuity is usually at or almost retirement age, possesses hundred thousand or more in liquid assets, and has a low risk tolerance.

Even within that subset of the population, though, there are myriad alternatives available. Should you look at a SPIA? - or - A Differed Indexed Annuity (DIA)? - or - An indexed annuity? - or maybe - Should you buy an income rider or not?.

See also: Annuities

Alleging that every annuity is bad is similar of stating every vehicle is bad. Whenever you've a one mile commute to work or you do not travel a lot, and you likely should not be driving an sport utility vehicle just for that reason. If you are a contractor who on a regular basis hauls heavy equipment working, a convertible is not going to function fine for you, right?... The same rule applies for annuities, or any other financial instrument.

To learn more contact me for a FREE consultation (NJ residents only)

Monday, January 12, 2015

Magic Age for Retirement is No Longer 65

Magic Age for Retirement is No Longer 65

The study - The Middle-Income baby boomer Retirement Gap: Savings, Education and Advice – surveyed a thousand Americans seniors 50 to 68 with an yearly house income between $25,000 and $100,000. From the respondents, 45% were already retired. Of those still working, several expect to retire after age 65 (43%) than before age 65 (16%). Just 2 in 10 (19%) expect to retire at age 65.

Financial roadblocks to a comfy retirement

Although baby boomers are optimistic about retirement, a lot are concerned about meeting their financial needs in retirement. Although one-third (38%) feel very or super confident about their retirement nest egg, two-thirds (62%) express a few doubts, with a quarter (25%) being not too assured or not at all confident.

Health care expenses a growing concern, with good cause

According to the National Center for Health Statistics, the life expectancy of a 65-year-old has grown by 37% since 1950. As a result, the amount of money needed to fund a secure retirement – especially health care – has grown as well.

In an August 2013 CSR survey, Retirement Care Planning: The Middle-Income Boomer
Perspective, middle-income Boomers estimated the cost of one year of nursing home care at $46,890. Yet the true cost is nearly double: $90,520 on average. With median investable assets of $25,000 to $100,000, one year in a nursing home could effectively consume the entire savings of many middle-income Boomers.

Further, Boomers are largely unprepared for managing major changes in their health:

  • 65% don't have a current health care power of attorney
  • 64% lack an up-to-date living will
  • 63% do not have a current last will and testament

"Boomers are facing a challenging retirement environment, but just about any of them can improve their financial security through a combination of investment and protection products," said Scott Goldberg, president of Bankers Life. "A professional advisor can play an important role in re-positioning assets for future income and reducing the risk of financial disruption throughout retirement."

SOURCE: Bankers Life Center for a Secure Retirement

Tuesday, January 6, 2015

5 States where the Alzheimer’s Death Rate Soared

5 States where the Alzheimer’s Death Rate Soared

Americans continue to have a 100 percent ultimate mortality rate, but they are reaching the final outcome a little more slowly.

The managers of the National Vital Statistics System, an arm of the U.S. Centers for Disease Control and Prevention (CDC), have published a new statistical picture of the slowdown in the final 2013 mortality data report.

A comparison with the 2012 report shows that the overall U.S. age-adjusted death rate fell to 731.9 per 100,000 in 2013, from 732.8 per 100,000 in 2012.

The overall age-adjusted national death rate from a condition of keen interest to the long-term care insurance (LTCI) and long-term care (LTC) planning communities -- Alzheimer's disease -- fell 1 percent, to 23.5 percent.


3 Tips for Retiring out of State

3 Tips for Retiring out of State

3 Tips for Retiring out of State

Where are the best places to retire in America? if you guessed Florida and Arizona you'd be off the mark, according to a recent survey by Bankrate.

Average number of sunny days get those states high scores, but sunny days alone don't mean happy golden years.

“As this report correctly suggests, pre-retirees need to consider a lot more than snow days and tradition,” says Rodger Friedman, founding partner and wealth manager at Steward Partners Global Advisory and author of “Forging Bonds of Steel,” a guide to developing an excellent working relationship with your financial advisor.


Monday, January 5, 2015

3 Retirement Essentials Every Baby Boomer Should Follow

3 Retirement Essentials Every Baby Boomer Should Follow

Carl Edwards, MBA, ChFC, and owner of C.E. Wealth Group, is something of an expert on baby boomers and figuring out what they need to have a happy and successful retirement.

In his research, gained from working with the boomer generation and helping them plan for those golden years, Edwards has identified three retirement essentials every baby boomer should follow.


Friday, January 2, 2015

Save Money And Time On Your Retirement Needs

Save Money And Time On Your Retirement Needs

Are you looking for retirement?... There are many options to choose from. These tips are going to teach you out tremendously with your goals.

Determine what your needs and expenses will need in retirement. You need about 75% of your current income to live comfortably. Workers that don't make too much as it is may need at least 90 percent or so.

Begin saving now and continue steadily throughout your life.It doesn't matter if the amount is small; you should save today. Your savings will exponentially grow as your income rises. When your money is accruing interest, your money has the chance to grow to provide you with extra money later on.

People who have worked their whole lives look forward to retiring. They think that retiring is going to be a wonderful thing, but if they didn't plan ahead most likely they will encounter themselves face-to-face to reality.

Contribute to your employer 401K regularly and maximize the amount you're allow to match provided to you. You also can put away money in other products that is not taxed while growing (tax-differed) like Annuities. No many people know that Annuities are awesome vehicles to safe money for retirement, not to mention you won't lose a penny even if the market crashes tomorrow, plus many other benefits.

Are you overwhelmed and thinking about retirement because you haven't started to save? 

You still have time to start. Examine your monthly budget and determine the maximum amount you can invest each month, the company I represent have great products backed with more than 135 years in the business.

Another good way to plan for your retirement is to think about a Insurance plan that's for long term care. Health often declines for the majority of folks as they age. As health declines, you can expect your medical costs to increase. If you have a insurance/health plan like long term care [LTCi], you will be able to have the help you need at home or in an adult living center or nursing home.

Make sure you set both short and longer term goals. Goals are really important and can help you save money. If you are aware of the amount of money needed, you will be aware of what to save. A few simple calculations will help you goals to work towards on a monthly or weekly basis.

Retirement is a great time to start a small business you have always thought would be successful. A lot of people turn their hobby into successful home based businesses. This situation can reduce stress and bring you feel from a regular job.

If you're someone who is over 50 years old, you can catch up on your Annuity / IRA contributions, but there is usually a limit of your contributions ($5,000-$6,000) every year depending on a company or product you have, also it's essential you work with a professional when it comes to your investments, this allows you to quickly make up for retirement savings.

When you calculate what you need for retirement, plan to live about the same lifestyle you were living before retirement. If this is the case, you can estimate expenses at about 80% of what they are now since you will not be working. Just be mindful not to spend extra money in your new free time, but have fun.

Look for some other retirees to befriend. Finding a good group of others that don't work can be one way to enjoy your time. You all can also have a group of people around to support you when that is needed.

These tips were the beginning; continue to learn along the way during your retirement, This tips that you read here will allow you to adequately prepare for a comfortable retirement. And remember, if you are properly prepared, you can have an enjoyable retirement.

If you need help planning for you retirement from the investment point of view and happens to live in south jersey, contact me for a no cost - no obligation review of your retirement needs.