Participating in the Social Security system may seem like a decision-free exercise: You pay in during your working years, and then you receive monthly payments when you retire. The fact is that you may have a fair bit of control over the amount and timing of the benefits you receive. First, your benefits are calculated
The retirement landscape is changing quickly, and it’s not a pretty picture. According to a recent survey conducted by Harris Poll on behalf of Northwestern Mutual, today’s earners expect to work longer than previous generations – and not necessarily by choice. What’s more, a strikingly large percentage of workers expect that they will never retire
Saving enough for retirement is something to be proud of. But even if you’ve bucked the trend and amassed a good-size nest egg, it’s critical to have a sound strategy for withdrawing your money. Living large early in retirement could cause you to run out of money in your later years, after all. On the
Warren Buffett once said, “The only value of stock forecasters is to make fortune tellers look good.” At this time of year – when media outlets are brimming with forecasts and market predictions for the 12 months ahead – it’s wise to heed Buffett’s advice. Just look at Wall Street’s dismal record in divining the
The great Satchel Page, who played professional baseball until age 59, once asked: “How old would you be if you didn’t know how old you are?” There’s no doubt many of us remain young at heart throughout our lives. Unfortunately, our bodies follow a different script: In retirement, we can count on our healthcare needs
Setting up a trust as part of your estate planning and choosing the right trustee can be a smart way to protect, control and ultimately transfer your assets to your beneficiaries. But it’s important to choose your trustee — the person or persons who will oversee the management and distribution of your trust — with
Traditionally, most people have relied on a will to pass their assets on to heirs. But wills aren’t the only solution. Revocable trusts have become an increasingly popular estate planning tool. A revocable trust, also known as a living trust, is a written document you (the “grantor” or “trustor”) create during your lifetime, which contains
The typical Social Security scenario is simple: A beneficiary stops working and begins taking the full benefits to which he or she is entitled. But when a Social Security recipient is also drawing work income, things get a little more complicated. Work income may reduce the size of your Social Security check. Let’s look specifically
If you follow the financial news, you know that China’s stock market is in the midst of a sharp slide. The benchmark Shanghai Stock Exchange Composite Index has fallen more than 23% in the nine weeks since June 12th of this year, closing down more than 30% some five weeks ago on July 8th. What’s
Financial planning: It can significantly improve your quality of life. But if done properly, its benefits extend even beyond your lifetime. One of the best examples of this is a living will. A comprehensive plan will include an updated, valid living will with a health care power of attorney. These documents help ensure that your
Copyright © 2005-2024 ICW Investment Advisors LLC. All rights reserved.