I Need A Pension Plan

We know that for years that planning for retirement was a three legged stool.   Pension plans, social security, and then whatever personal savings and investment plans you could muster up over the course of your lifetime.   With a great deal of uncertainty looming over social security and pension plans dwindling away from large corporations, I continue to stress to people that retirement planning feels more like a pogo stick than it does a stool. Product companies understand that the greatest way to attract customer is figure out how to fill a void in the marketplace.   As investors struggle to figure out the best way to plan for retirement, a fairly new type of fixed product has been gaining traction called a Deferred Income Annuity (DIA).   A deferred income annuity is a newer type of annuity that is essentially a mixture of a single premium immediate annuity and a single premium deferred annuity. With a DIA, the idea behind the vehicle ...

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You can’t retire by scanning Google.

Only recently have personal savings levels risen, where just a short while ago they were the lowest since the Great Depression when unemployment was more than 25%. (USA Today) Why is this happening? I have a theory, and it boils down to the fact that people in the X and Y generation just don’t read anymore. Remember when you were a kid and had to take those tests where you read a short story, and then had to answer a bunch of multiple choice questions around the story? I didn’t fare so well on those tests, but if people had to take them today based upon what they think they learned on the internet . . . surely we would be a failing class. ...

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Your Three Legged Stool Is Now A Pogo Stick?

It used to be that when most people talked about their retirement, the expectation was to have a three legged stool for deriving income when you actually retired. So, where is your pension coming from in retirement? Without a pension, you’ll have to hop that pogo stick of personal savings and investments to your retirement dreams. ...

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