Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Friday, April 29, 2016
Why You Should Have An Annuity In Your Retirement Plan
Annuities are a big business, both for advisors and the insurance companies and other channels who sell them. But just because there is money to be made selling annuity products, it doesn’t negate the benefits that consumers receive from these products as well. In an article for Main Street, Mark Henricks says that “Buying an Annuity Should be Part of Your Retirement Strategy.” From 2010 to 2015, individuals bought more than $1 trillion worth of annuities. 2015 was an especially good year for fixed indexed annuity products, one branch of the fixed annuity market. In addition to all of the individuals planning for retirement with annuity products, corporations are also buying annuities at record levels to lower the risks and costs associated with offering pension benefits.
How To Not Run Out Of Money In Retirement
Investing for retirement doesn't have to be hard. You read up on how to put together a diverse mix of low-cost index funds, bonds, etc. Then keep setting aside all you can into that retirement account. Easy.
But when you actually retire and start spending that money, that's like going from playing checkers to playing chess. It can get a lot harder.
Here's the big pickle: You don't want to run out of money. But how can you know how much it's safe to spend when you might live for another five years — or 25 years?
But when you actually retire and start spending that money, that's like going from playing checkers to playing chess. It can get a lot harder.
Here's the big pickle: You don't want to run out of money. But how can you know how much it's safe to spend when you might live for another five years — or 25 years?
Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Friday, April 22, 2016
6 Ways to Fix Social Security’s Finances
The Social Security program currently has enough resources to pay out all promised benefits for nearly two decades. However, the Old-Age and Survivors Insurance Trust Fund is projected to be depleted in 2035. After that, the program expects to have enough tax revenue coming in to continue to provide about 77 percent of scheduled benefits. There are several Social Security tweaks that would correct the problem. A recent Government Accountability Office report examined several Social Security changes and how far they would go toward fixing Social Security's long-term projected deficit. Here's a look at how several potential Social Security solutions would change the system's finances.
Continue reading source article here.
Continue reading source article here.
Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Thursday, April 21, 2016
Want To Retire Early? 5 Reasons It May Not Happen For You
Many people seek our financial planning services to get a better handle on their over all financial situation and to better understand what they need to do to better meet their future goals.
A very common goal is to retire early and lead the “easy, good life”! Normal retirement age is defined by Social Security as the full retirement age for those born after 1960 would be age 67. Many of these folks are disappointed to learn that an early retirement may not be in their future and here are the 5 most common reasons:
A very common goal is to retire early and lead the “easy, good life”! Normal retirement age is defined by Social Security as the full retirement age for those born after 1960 would be age 67. Many of these folks are disappointed to learn that an early retirement may not be in their future and here are the 5 most common reasons:
Damian J. Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Wednesday, April 20, 2016
Simple ways to create a happier retirement
Are you interested in learning how to improve your financial security and happiness in retirement without having to save thousands of dollars? By taking some easy-to-understand steps, you can increase your retirement happiness and financial security -- and reduce your anxiety about retirement, according to several surveys and reports.
Does this sound like it's too good to be true? It's not. So, let's piece together results from different surveys and reports to support the steps you can take.
Does this sound like it's too good to be true? It's not. So, let's piece together results from different surveys and reports to support the steps you can take.
Self-employed? Here’s How to Save for Retirement
Working for yourself comes with lots of perks: setting your own hours, your own dress code and your own workload. That’s probably part of the reason nearly a quarter of workers freelance, either full- or part-time. They make good money, too. Almost half earn six figures.
The downside is making up for all the benefits that employers typically provide. That means figuring out health care coverage (which at least is now easier — if not cheaper — than it was before Obamacare) and setting up retirement accounts.
The downside is making up for all the benefits that employers typically provide. That means figuring out health care coverage (which at least is now easier — if not cheaper — than it was before Obamacare) and setting up retirement accounts.
Damian Sylvia
Retirement Income Solutions
220 Monmouth Road
Oakhurst, NJ 07755
Two Philosophies of Retirement Income Planning
Within the world of retirement income planning, the siloed nature of financial services between investments and insurance leads to two opposing philosophies about how to build a retirement plan. There is an old saying that if the only tool you have is a hammer, then everything starts to look like a nail. This tendency is alive as those on the investments side tend to view an investment portfolio as a solution for any problem, while those on the insurance side tend to view insurance products as the answer for any financial question.
Damian Sylvia
220 Monmouth Road
Oakhurst, NJ 07755
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