Having some talks with Papa Boomer about early retirement, I learned that he implemented a strategy called “72(t)” distributions. I just assumed that meant that he was having a midlife crisis and was going to by that 72 Thunderbird that he always wanted. Then I learned that this is a early retirement strategy that many …
What happens if the company you worked for goes “belly up’? Can the company you worked for terminate your plan? What can a Boomer plan on? Employers can end a pension plan through a process called” Plan Termination”. There are two ways an employer can terminate a pension plan. The employer can end the plan …
Is Your Pension Guaranteed? What does the PBGC Guarantee? Read More »
Are you panicking because you did not start saving for retirement when you were young? Are you now worried that you won’t have enough saved for when you do retire? If you answered yes then you should not wait another day. While it is of course better to start saving when you are young, it …
In the coming years, even more of the country’s baby boomers will be turning sixty five years of age and becoming eligible for Medicare benefits. Earlier on in the decade, only a little over five percent of baby boomers were over the age of sixty five. That number will have more than double by 2013. …
Whether you are receiving retirement funds, lottery winnings, or earnings from a legal settlement, often you must decide if you want your money in a lump sum payment or in annuity payments. The difference is that with a lump sum payment you receive all of the monies owed to you all at once, and with …
Lump Sum Payments vs. Annuity Option. What’s the Best For Your Retirement? Read More »
As a baby boomer, retirement is either right around the corner or has already begun. You’ve saved, invested and contributed to your social security fund, but your monthly “income” still may not be as high as when you were working. Many experts say to spend about 4% of your retirement nest egg per year. But, …
When you are in your 50s you will find yourself thinking more and more about your retirement. However, instead of thinking where you’ll travel to first in your caravan or which color the tiles in your remodeled bathroom should be, you’ll need to turn your mind back to financial matters for a little longer to …
5 Essential Pre-retirement Investment and Planning Strategies Read More »
If your company goes bankrupt what happens to your Pension? Will you be left out in the cold? Will the money you have been counting on for your retirement be gone? Will you be forced into continuing to work, or even worse, be forced into returning to work after you have already retired? Safeguards Against Losing Your Pension …
Is Your Pension Safe When Your Company Files Bankruptcy? Read More »
A 403b Plan is very similar to a 401K plan. Just as a 401K plan is a retirement plan for individuals, a 403b plan is a retirement plan that is tailored for those people who work for the public educational institutions, hospitals, non-profit or charity organizations, religious organizations or museums. This retirement plan is a tax …
When you spend your entire life working so that you can afford the same standard of living after you hang it up, a pension may be your primary source of income. Years ago, this was not always an option. Pensions were poorly funded and, when leaving the company, not everyone could benefit from them. Rather …