3 key steps to converting savings into a lifetime retirement income stream
byJames K. Ault
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Until just a few decades ago, many retirees could count on retirement income from three primary sources. These included an employer-sponsored defined benefit pension plan, Social Security, and personal savings or investments. Today, however, many companies have done away with the traditional “pension” plan, replacing it with defined contribution plans such as the 401(k). But, while these...
What to do with your 401(k) when you retire?
byJames K. Ault
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Knowing that you can count on a set amount of income to arrive throughout your retirement is a key factor in how – and how well – you will live. In many cases, the largest amount of savings that a retiree has is the funds inside of an employer-sponsored retirement program like a 401(k) –...
What to consider before a Roth IRA conversion
byJames K. Ault
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Roth IRA accounts can offer you a number of benefits – including tax-free income in retirement. This can put you at a significant advantage, given that tax rates are expected to rise in the future – and nobody knows how high they will go! Unfortunately, not everyone qualifies for a Roth IRA, though. So, it...
When is it too late to purchase an annuity?
byJames K. Ault
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If you’re in the process of setting up a retirement income plan, it is possible that your financial advisor has brought annuities into the conversation. But even though annuities can offer a long list of benefits – including tax-deferred growth and income certainty – depending on your age, the offering insurance carrier, and the annuity...
Save, protect, and generate income with a financial “Swiss army knife”
byJames K. Ault
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If you’ve ever owned or seen a Swiss army knife, then you know that it can solve a number of needs, with a wide variety of different tools all wrapped up into just one single device. This is a similar concept with fixed indexed annuities, or FIAs. That’s because FIAs offer the opportunity for a...
Using an annuity to create a legacy
byJames K. Ault
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With traditional employer-sponsored pension plans going the way of the dinosaur, more people are turning to income-producing financial vehicles like annuities for cash flow in retirement. An annuity can provide you with a long list of benefits, both before and after you’ve retired. These can include tax-deferred growth, penalty-free withdrawals for qualifying healthcare or long-term...