Not all insurance policies are boring!
Since the insurance industry can be a little dry, here are 13 interesting insurance facts you probably didn’t know.
One of the biggest challenges in retirement is building a reliable stream of monthly income to support you for what could be a very long time. While retirees have long relied on bonds for this purpose, a retirement income expert recently told Money that there’s a better solution: income annuities.
Saving for retirement is Americans’ biggest financial worry, according to a survey by Bankrate.com. Younger Baby Boomers, those between the ages of 54 and 63, and Gen Xers, those between the ages of 38 and 53, are the most stressed about retirement, with 25% and 22% of these demographic groups, respectively, saying so.
To anyone over the age of 40, uttering the phrase “long-term care” is like raising the subject of the Babadook. According to the most recent annual polling by The Associated Press and NORC Center for Public Affairs Research, about two-thirds of Americans over the age of 40 say they expect they’ll need to provide assistance to a close family member or friend over the next five years. Nearly half believe they cannot fund their own long-term care. More than 60 percent of this cohort expect they will need some form of long-term care in the future, only slightly below the real number of 69 percent.
Saving for retirement seems to be never ending.
It's twice as expensive to retire today as it was 25 years ago, writes James Moore in MarketWatch. And according to one financial planner, millennials need more than $1 million saved by the time they retire.
As a professor at The American College of Financial Services and the co-creator of the Retirement Income Certified Professional (RICP®) program, I’m often making lists of what I think everyone needs to know about planning for retirement. And, on a personal level, as someone who is approaching retirement myself, those lessons are really hitting home.
Concerned about your 2021 benefits package? You aren’t alone.
The quest to deliver quality health care to employees is more challenging than ever in a market where costs are rising and coverage is declining. And just when we thought healthcare couldn’t get more complicated, COVID came along.
Your 401(k) makes saving for retirement as painless as possible. You can transfer a portion of each paycheck straight to your retirement account, and if your employer offers matching contributions, you can even earn free money simply by saving.
According to a 2016 survey by the Urban Institute Health Policy Center, 83.1% of all U.S. workers had access to some form of employer-sponsored health insurance plan, up slightly from 2013.
Roth IRAs and Roth 401(k) plans aren’t your only sources of tax-free income in retirement.
Say hello to so-called permanent life insurance — a policy with an interest-bearing account that’s known as cash value.