facts about fixed index annuities

The Facts About Fixed Index Annuities

Some people say they haven’t heard a lot about fixed index annuities being used recently. On the contrary, the industry has grown at a double-digit rate over the last several years. Demand is increasing because baby boomers are wanting to achieve more and more financial security, and fixed index annuities can help them achieve that. In the current economic climate, index annuities prove appealing to those who want to have their money protected and growing at the same time. The facts about fixed index annuities are straightforward—and whether or not an annuity is right for you comes down to whether the good qualities represent what you want for your money—and whether the catches are a concern or not.

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social security FAQs

4 Social Security FAQs

Part of retirement planning involves identifying the sources of income you will have available to you during a time when you no longer have a steady job. For decades, social security has served as a reliable source of income for retirees—but that is changing, and most people say the amount they receive from social security is not enough to make ends meet. Though social security resources are waning, today’s retirees and pre-retirees still have benefits available to them that can play a helpful role in their retirement income. Look over these social security FAQs to get a better grasp as to how social security may affect your retirement.

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financial elements each quarter

Review These 6 Financial Elements Each Quarter

Every now and then, it can literally pay for you to take a step back to review the state of your personal finances. If you are apathetic about where your money exists, if and how it is growing and whether or not it is protected from potential loss, then you could end up getting blindsided—from ending up with less money for retirement than you realized, to watching your money take a devastating nosedive in the stock market. You can avoid getting blindsided, however, by being proactive about your financial situation. In yesterday’s blog we discussed financial spring cleaning. In addition to this yearly self-audit, at Ty J. Young Inc., we suggest you review these six financial elements each quarter to stay on top of your financial condition and ensure you are taking responsibility of the money that will serve to support you in retirement.

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financial spring cleaning

5 Tips for Financial Spring Cleaning

Why do we make it a point to clean in the spring? Spring signifies renewal, rebirth and refreshment, and it is the ideal time to clean out the winter cobwebs and set yourself up to enjoy a happy and healthy year. Most of the time when people think of spring cleaning, they imagine vacuuming under the furniture, polishing the hardwood floors and doing all of those chores that typically only get attention once a year. Financial spring cleaning is a term heard less often, but it is a task that is equally as important.

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stock market distrust

7 Major Financial Obstacles Retirees Are Facing in 2017: Stock Market Distrust

This is the final part of a seven-part series detailing challenges retirees are currently charged with overcoming in order to enjoy a financially stable retirement.

When The Great Recession hit in 2008, millions of Americans lost trillions of dollars in retirement savings. Since then, the S&P has recovered more than 200% from its lows, but many retirees who watched their hard-earned savings disappear in 2008 have understandably not recovered from the sting the stock market delivered them nearly 10 years ago. While it has been the trend that retirees reduce their investment risk as they age, due to stock market distrust, more and more retirees have turned toward fixed-income investment vehicles to secure their retirement savings.

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debt

7 Major Financial Obstacles Retirees Are Facing in 2017: Surmounting Debt

This is part six of a seven-part series detailing challenges retirees are currently charged with overcoming in order to enjoy a financially stable retirement.

The majority of Americans are in debt—we know this. Several sources report the average U.S. household carries about $120,000 in debt with mortgages included. Unfortunately, more people than ever who are entering retirement or are currently retired are carrying the weight of debt on their shoulders. This debt comes in the form of mortgage debt, credit card debt and even student loan debt.

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increasing healthcare costs

7 Major Financial Obstacles Retirees Are Facing in 2017: Increasing Healthcare Costs

This is part four of a seven-part series detailing challenges retirees are currently charged with overcoming in order to enjoy a financially stable retirement.

Healthcare accounts for one of the largest expenses for retirees, and the increasing cost of healthcare has caused major headaches and stress for millions of Americans. For those who are preparing for retirement, the financial burden that healthcare costs bear can be overwhelming.

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job market

7 Major Financial Obstacles Retirees Are Facing in 2017: The Job Market

This is part three of a seven-part series detailing challenges retirees are currently charged with overcoming in order to enjoy a financially stable retirement.

Whether they do not have enough saved for retirement, are anticipating the disappearance of Social Security or they simply want something to do, people today are working longer and retiring later. Going back to work is a reality for many who are looking for supplemental income in retirement. According to the Bureau of Labor Statistics (BLS), the median working age in 2016 was 42.2 years old, compared to a median working age of 41.9 in 2014, 40.3 in 2004 and 37.7 in 1994. The BLS also reports that between 2004 and 2014, the number of Americans at least 55 and older who were active in the workforce increased by 47.1%, and that percentage is expected to grow 20% in the next 10 years. Despite the fact that seniors are working longer, the job market for older workers can be challenging.

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low interest rates

7 Major Financial Obstacles Retirees Are Facing in 2017: Low Interest Rates

This is part two of a seven-part series detailing challenges retirees are currently charged with overcoming in order to enjoy a financially stable retirement.

Americans have been living in a low interest rate environment for the past few years, during which time low rates have done their part in stimulating the stock market and boosting the housing market. Low rates in theory have simulated the economy, allowing businesses to increase their hiring and made it cheaper to take out a personal loan. However, for retirees, low interest rates have created a less than favorable situation.

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