A recent study found more than half of parents who are supporting adult children are "extremely concerned" about saving enough for retirement.
Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ
07755
Thursday, July 2, 2015
Stop your grown kids from ruining your retirement
If you are in your 50s or 60s and are still caring for your kids financially, you really need to start caring for yourself—or you may never be able to afford to retire.
A recent study found more than half of parents who are supporting adult children are "extremely concerned" about saving enough for retirement.
A recent study found more than half of parents who are supporting adult children are "extremely concerned" about saving enough for retirement.
Tontines: The retirement plan of the future?
Question: What is a tontine? How do tontines work? And, what’s the financial and economic thinking behind them?
Milevsky: A tontine can be thought of as an arrangement with some friends to purchase a very long-dated bond. You agree to split the coupons as they get paid, but (and this is the key) if one of the friends dies, the coupons get split among the survivors. So, people that live a long time end up getting (very) large coupons, at the expense of those who died earlier. The financial economic idea here is that it allows investors to earn mortality credits without requiring an insurance company to guarantee anything.
Milevsky: A tontine can be thought of as an arrangement with some friends to purchase a very long-dated bond. You agree to split the coupons as they get paid, but (and this is the key) if one of the friends dies, the coupons get split among the survivors. So, people that live a long time end up getting (very) large coupons, at the expense of those who died earlier. The financial economic idea here is that it allows investors to earn mortality credits without requiring an insurance company to guarantee anything.
Damian Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
5 reasons the retirement crisis is worse for women than men
It often seems that nearly every day, there's a new report telling ushow woefully unprepared Americans are for retirement.
But dig a little deeper into the myriad studies, and another trend emerges: While both men and women lack retirement savings, the picture for women is far bleaker. The gap starts to develop early: A recent T. Rowe Price study of millennial workers found that women were less likely to put money into a 401(k), and those who did had smaller balances than men.
But dig a little deeper into the myriad studies, and another trend emerges: While both men and women lack retirement savings, the picture for women is far bleaker. The gap starts to develop early: A recent T. Rowe Price study of millennial workers found that women were less likely to put money into a 401(k), and those who did had smaller balances than men.
Damian J. Sylvia
Managing Partner
Retirement Income Solutions
Saturday, June 27, 2015
When Should You Take Social Security Retirement Benefits?
For a lot of folks, the title question is a no-brainer: take the money and run. Why, you’ve been paying into this system all your life, so you should begin taking it back out as soon as you can, right?
Well, maybe.
Well, maybe.
Damian J. Sylvia
Managing Partner
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07719
Thursday, June 25, 2015
Behind on Retirement? Here's How to Catch Up
It's hard to believe, but according to a recent report by Forbes, 68% of Americans aren't saving for retirement in an employee-sponsored plan. What's more 69% of Americans under the age of 30 and a full third of those between 30 and 49 have nothing put away for retirement. If retirement is looming and you have nothing saved up, you don't have a lot of options. Still, you have a few things that you can do if you have even a decade left before your last day on the job.
Damian Sylvia
Managing Partner
Retirement Income Solutions
3 ways to get retirement ready in your 20s
As a 20-year-old, saving for retirement can easily fall to the bottom of the priorities list.
College graduates must focus on repaying their loans and paying rent wherever they may have moved for a career, although several would rather backpack and see the world before making their next career moves. Add to all of those ambitions potentially accrued debt and it could spell a recipe for disaster.
However, despite all of their immediate financial needs and responsibilities, 20-year-olds have the greatest opportunity to ensure a successful retirement if they start on the right path.
College graduates must focus on repaying their loans and paying rent wherever they may have moved for a career, although several would rather backpack and see the world before making their next career moves. Add to all of those ambitions potentially accrued debt and it could spell a recipe for disaster.
However, despite all of their immediate financial needs and responsibilities, 20-year-olds have the greatest opportunity to ensure a successful retirement if they start on the right path.
Damian Sylvia
Managing Partner
Retirement Income Solutions
5 Ways Retirement Will Pleasantly Surprise You
Most worker bees who are grinding away at a day job will tell you they can't wait to retire. However, those who have saved enough money to retire sometimes don't quit right away, even if they don't like going to work. Many savers develop a bit of anxiety about hanging up their work hat and choose to suffer the obvious because they are afraid of the unknown. Fortunately, there are many wonderful aspects of retirement, so the unknown isn't always all bad. For the workaholics among us, here are some reasons to plunge into retirement.
Damian J. Sylvia
Managing Partner
Retirement Income Solutions
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