Insurance

Insurance protects you from the financial liability of the unexpected. Explore what kinds of insurance you need and get tips for the best coverage for you.

Car insurance protects you from car accidents. Home and renters insurance protects you from financial loss due to accidents to your property. Umbrella insurance protects you from additional liability. Life insurance protects your loved ones way of life from your possible death. Health insurance and Medicare covers medical bills. Disability insurance will cover your income if you are unable to work. Long term care insurance covers long term care costs if you require care (and 65-70% of all people do). Lifetime annuities are insurance to guarantee your income and a life longer than you may have anticipated.

When you buy insurance, the insurer is agreeing to fund your unexpected financial losses. They can do this because insurers pool the risks across a large population of people.

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pros and cons of annuities

The Pros and Cons of Annuities: How to Evaluate Annuities for Your Retirement

If you are worried about paying for retirement, it is worth evaluating the pros and cons of annuities. The Big Takeaways…   Annuities are a great way to provide guaranteed lifetime income in retirement while hedging against inflation and other financial woes. Though less risky, annuities generally yield lower returns than other investment products, and…

September 15, 2020

7 Ways to Plan for Long-Term Care Costs in Your State

You might not like the idea.  You might try to deny the idea.  You might convince yourself that you will be the lucky one to stay healthy until your last day. However, at least 70 percent of people over age 65 will require some form of long-term care services and support during their lives, new research shows.…

July 3, 2020
Winning the lottery and retirement

What Do Lottery Winners and People Near Retirement Have in Common?

Winning the lottery actually has a lot in common with being near retirement age: You can quit working You have finite financial resources at your disposal (Really finite for most of us; in fact, many of us feel like we can not retire unless we actually do win the lottery.) It is a time to…

July 2, 2020
real scoop about annuities

The Real Scoop on Lifetime Annuities

Annuities have a strange reputation. Some people think they are a great way to guarantee income in retirement. Other people think of them as a bad investment. So what’s the real scoop on lifetime annuities? Forget everything that you might have heard about lifetime annuities: they’re great, they’re dangerous, they’re safe, or you could lose…

July 2, 2020
Medicare

Don’t Make These 6 Medicare Retirement Plan Mistakes

No one is born understanding how Medicare works. And just because friends or family have navigated the system well doesn’t mean you won’t hit a snag.  A solid retirement plan includes a good working knowledge of what to expect from Medicare. Because the more you know now, the less likely you’ll be to encounter these…

July 1, 2020
Buying an annuity

7 Signs Buying an Annuity Makes Sense for You

Prepared for properly, retirement can be a time when well-laid plans come to fruition, providing the financial foundation for a lifestyle of comfort and leisure. If those are your goals for the next phase of life, you may want to consider if an annuity should be part of your plan. An annuity may provide a…

July 1, 2020

What a Lifetime Annuity Is and How It Works

It is likely that you have heard of annuities. In fact, if you are already preparing and planning for retirement, you may even have one. But, you may be fuzzy on the details of what exactly a lifetime income annuity is and how it works. Estimate how much income your savings can generate using an…

June 30, 2020
retirement insurance

6 Types of Insurance for a Worry Free Retirement

Saving money is hard enough. No one wants more bills to pay, especially when you’re on a fixed or limited income. But insurance is something of a necessary evil. And certain insurance plans can help you live out your golden years as worry-free as possible – a worthy investment in your well-deserved break from workaday…

June 29, 2020
Pros and cons of annuities

Suze Orman Talks Annuities Pros and Cons

When it comes to investing, there is no right answer for everyone. Financial guru Suze Orman warns those saving for retirement that taking action based on finance myths can get you into trouble when reality sets in. As the economic climate begins to change, so will the way that people need to save for retirement.…

June 29, 2020
medicaid eligibility

What Is Your Medicaid Eligibility?

As we plan our retirement, most of us are concerned about whether or not we will be able to fund out-of-pocket healthcare costs. Medicaid is one option for people who have very little income and assets. Millions of low-income Americans have access to health or nursing coverage through Medicaid, including elderly adults. But some retirees…

June 29, 2020
403(b)

Is a Tax Sheltered 403(b) Annuity a Good Investment?

If you are an employee at a school, church, hospital, or other non-profit, then you are eligible for a “tax-sheltered annuity,” also known as a 403(b) plan. Don’t work for a nonprofit? Learn more about annuities and how to invest in them in a tax-advantaged way. History Of the 403(b) and Tax Sheltered Annuities The…

June 28, 2020

9 Surprising and Dirty Secrets About Long-Term Care, Medicaid, and Your Retirement

Medicare and Medicaid have been in the news for several years as a debate rages in the Federal government about a possible budget shortfall in the programs and how to fund them. Here are nine things you might not know about Medicaid and your chances of needing it in the future. 1. You Have a…

June 27, 2020

5 Mistakes To Avoid When Shopping for Annuities

Annuities can be a great way to receive a steady income in retirement, but because they are complex financial products, it’s best to do some research before purchasing one. Here are five annuity mistakes to avoid. Estimate how much income your savings can generate using an Annuity Calculator. 1. Investing Too Much Money When Purchasing…

June 27, 2020

The Best Annuities: What to Look For and Why to Buy Them

While investing a big portion of your retirement savings in the stock market can be a risky decision, putting some of that money into an annuity can help ensure you have a steady flow of income for life. There are downsides, but they can be a powerful tool for financial security in retirement – especially…

June 27, 2020
alternatives to long term care insurance

10 Alternatives to Long Term Care Insurance

Your need for long term care is unknown. What is known is that you do need a plan for funding it, just in case. However, many people rightly ask, “is long term care insurance worth it?” Luckily there are viable alternatives to long term care insurance. Healthy living will help you avoid long term care,…

June 22, 2020

Say ‘Ahh’: Most Would Rather Visit the Dentist than Talk About Long-Term Care Planning

Managing your finances shouldn’t be like pulling teeth. But it might as well be for the proportion of Americans who say they would rather go to the dentist than talk about their long-term care planning and aging needs. Such was the response from 45% of adults surveyed by the AARP in a 2018 study designed…

June 2, 2020

Podcast: Glen Nakamoto — Building a Retirement Paycheck

Episode 41 of the NewRetirement podcast is an interview with Glen Nakamoto — retired cyber security analyst and financial planning enthusiast. They discuss how Glen built his own lifetime retirement paycheck with a guaranteed income floor using immediate annuities. Glen outlines how he built his plan and paycheck. Listen Now: Don’t miss out on future…

May 28, 2020

Will Pensions Make a Comeback? (Should You Make Your Own?)

Most people categorize pensions in the same bucket as eight-track tape players, rotary phones, oversized shoulder pads and cathode-ray tube TVs — out of date.  But, pensions just might become the latest retro craze — especially those you can create for yourself! NOTE: If you are lucky enough to have a pension, the NewRetirement Planner…

May 28, 2020
Using an income floor for financial freedom

Building a Retirement Paycheck Through Retirement Income Planning

This deep dive into the concept of using an income floor to establish a three bucket plan for retirement income needs comes from Glen Nakamoto. First of all, just to make clear, I am not a financial advisor or anyone who has any background in financial planning. Before I retired, I was a cybersecurity analyst…

May 11, 2020
asset protection trust

Is an Asset Protection Trust the Right Solution to Your Long Term Care Riddle?

Asset protection trusts are one way to cover long term care costs. However, there are big disadvantages. Learn more and discover alternatives.

April 30, 2020
what is a health savings account

What is a Health Savings Account (HSA)? And, Why It’s a Great Retirement Savings Option

What is a Health Savings Account? Explore 4 ways it saves you money and why you might want to use one for retirement savings.

March 15, 2020
long term care

Planning for Long Term Care: An Important Part of Being Prepared for Retirement

Dementia. Stroke. Alzheimer’s disease. The prevalence of these health events is a big reason why you need to make planning for long term care an important part of your retirement planning. Will you need to give care? Will you need care? What is Long Term Care? Older Americans continue to be in the dark when…

August 7, 2019
Rolling Stones Annuities

Gimme Shelter: Why Are the Rolling Stones Hawking Annuities?

The sole sponsor for the Rolling Stones’ US Tour 2019 is the Alliance for Lifetime Income, an advocacy organization whose purpose is to help Americans address the risk of outliving their retirement income. No drugs, sex, cars or even fashion — annuities. Why Annuities? It may seem a surprising choice of sponsor for The Stones…

July 9, 2019
make the most of medicare Close up of senior woman in checked blue shirt inside vintage pickup truck

12 Tips for a Healthy Retirement and Making the Most of Medicare

Medicare is a hugely popular program, providing health coverage to the vast majority of Americans over 65. Here are a few tricks for taking care of your health and making the most of Medicare… 1. Understand Your Medicare Options Once you turn 65, you need to make choices about your Medicare coverage. Will you choose:…

May 21, 2019

NewRetirement Planner

Take financial wellness into your own hands and do it yourself retirement planning: easy, comprehensive, reliable.