Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Friday, July 29, 2016
Buckle up: It's Not Your Father's Retirement
It is something you should be planning for decades, reaching your Golden Years -- the day on which you leave the workforce and have enough financial resources to last for the rest of your lifetime. However, they may not be as close as they appear. As today many Americans are working later into their 60s and 70s – while some are concerned they may never be able to retire.
Wednesday, July 13, 2016
Quick Way to Give Your Retirement Portfolio a Midyear Checkup
Answer these three questions, and you'll be good to go.
Wimbledon is over, the All-Star game’s history and Brexit hysteria seems to be winding down. Which leaves you with a short window before the arrival of the next bigsummer event—the Olympic games—to perform a quick midyear checkup to ensure your retirement plan is on track. Answering these three key questions will allow you to do just that.
Wimbledon is over, the All-Star game’s history and Brexit hysteria seems to be winding down. Which leaves you with a short window before the arrival of the next bigsummer event—the Olympic games—to perform a quick midyear checkup to ensure your retirement plan is on track. Answering these three key questions will allow you to do just that.
Damian Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Wednesday, June 15, 2016
Guess how expensive teacher retirement costs are
According to new data from the Bureau of Labor Statistics, teacher retirement costs are at an all-time high.
As of March 2016, retired public school teachers receive $6.67 per hour worked during their careers. Compare that to March 2006, when they received less than half that amount: $3.26 per hour worked.
As of March 2016, retired public school teachers receive $6.67 per hour worked during their careers. Compare that to March 2006, when they received less than half that amount: $3.26 per hour worked.
Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Millennials challenged by funding modern retirement
Today's 20-somethings face some challenging dilemmas when it comes to saving for retirement.
Not only must they fund their own retirements due to the near evaporation of company pensions, they also are saddled with more student-loan debt, stagnant wages and higher living expenses compared to a generation ago. And at the same time — in another departure from their parents' and grandparents' experience at the same age — they want to ... well, spend more time enjoying life.
Not only must they fund their own retirements due to the near evaporation of company pensions, they also are saddled with more student-loan debt, stagnant wages and higher living expenses compared to a generation ago. And at the same time — in another departure from their parents' and grandparents' experience at the same age — they want to ... well, spend more time enjoying life.
Continue reading source article here.
Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Monday, May 16, 2016
Buying a Home With Retirement Savings: Pros and Cons
If you've been socking money away in a retirement account and are ready to buy a home, you could tap into that savings to boost your buying power. There are several ways to use retirement funds to put a down payment on a home.
Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
40 states with an income tax include retirement income, but not Illinois, and that's not about to change.
Most of us don’t like to pay taxes, but it’s our legal and civic obligation in a democratic society.
It’s also galling in states like Illinois, where real estate, sales and gasoline taxes are among the highest in the country, and there’s too much waste, inefficiency and dishonesty in government to feel our money is being well spent.
But the beat goes on.
Last year Cook County raised sales and hotel taxes, and the City of Chicago passed the largest properly tax in history.
It’s also galling in states like Illinois, where real estate, sales and gasoline taxes are among the highest in the country, and there’s too much waste, inefficiency and dishonesty in government to feel our money is being well spent.
But the beat goes on.
Last year Cook County raised sales and hotel taxes, and the City of Chicago passed the largest properly tax in history.
Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Wednesday, May 11, 2016
Meet the "feel free" retirement spending plan
How much can you safely spend each year from your retirement savings without worrying about running out of money? Do you really have enough money saved for retirement? These are critical questions for older workers and retirees to answer, particularly those who don't have substantial pension benefits and are relying on Social Security, 401(k) balances and IRAs for retirement income.
There's evidence that many people are struggling with these questions. For example, a recent survey showed that more than half of all respondents were too optimistic about a safe withdrawal rate. Almost one-third of were wildly overoptimistic and would spend their savings at a rate that would ensure they would almost surely deplete it during their lifetime.
There's evidence that many people are struggling with these questions. For example, a recent survey showed that more than half of all respondents were too optimistic about a safe withdrawal rate. Almost one-third of were wildly overoptimistic and would spend their savings at a rate that would ensure they would almost surely deplete it during their lifetime.
Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
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