Retirement Planning
Planning For A Secure Retirement
Today, a majority of your retirement income will likely depend on your own resources. More retirees than ever before receive benefits from Social Security and employer-sponsored retirement plans, but the role of these two sources of income is expected to decline in the future. Many employers are cutting back on retirement benefits or are no longer offering pension plans.
But, with some advance planning you can make your retirement more comfortable and a first step toward this objective is to begin planning in earnest – today.
The professional life insurance representatives of Security Mutual Life can assist in the planning process. Together, you will determine how much income is needed to maintain your current lifestyle in retirement, typically between 67% and 90% of your pre-retirement income, and review and analyze the four primary sources of retirement income: Social Security, employer-sponsored pension plans, Individual Retirement Accounts and personal investments. If a gap exists between what is needed and what is available, then a plan can be formulated to help put your financial house in order.
Retirement planning is the only way to estimate the amount of money you will require in retirement in order to maintain your desired lifestyle. Starting early to plan for your retirement will make a big difference later on.
To get an idea of just how much money you would have to save, starting today, to retire at your desired comfort level, try out our retirement planner.
IRS Provides Guidance on Required Minimum Distributions for 2023
Episode 223 – Confusion for IRA owners turning age 72 in 2023? The IRS provides clarification and reminds IRA owners that individuals turning age 72 in 2023 are not required to take required minimum distributions. Continue Reading IRS Provides Guidance on Required Minimum Distributions for 2023
Biggest Fear in Retirement – Running Out of Money Revisited
Episode 220 - In today's episode we revisit the question, what’s the biggest fear people have in retirement? According to the Journal of Accountancy®, Americans’ biggest retirement fear is running out of money. In this episode we take an in-depth look at...
SECURE 2.0 is Now Law. How Does That Impact Retirement Planning? Part Two
Episode 213 – Part Two: SECURE 2.0 is now law. What does it mean for your individual retirement planning goals? What does it mean for your business and your employer-sponsored retirement plan? Continue Reading SECURE 2.0 is Now Law. How Does That Impact Retirement Planning? Part Two
SECURE 2.0 is Now Law. How Does That Impact Retirement Planning? Part One
Episode 212 – Part One: SECURE 2.0 is now law. What does it mean for your individual retirement planning goals? What does it mean for your business and your employer-sponsored retirement plan? Continue Reading SECURE 2.0 is Now Law. How Does That Impact Retirement Planning? Part One
Retirement is Better with a Plan with Lucas Benson
Episode 209 – What type of retirement plan is best for you and your business? In this podcast, we learn all the details you need to know with special guest Lucas Benson. Continue Reading Retirement is Better with a Plan with Lucas Benson
IRS Provides Relief for Missed RMDs in 2021 or 2022
Episode 208 – IRS provides relief to individuals who inherited traditional IRAs in 2020 or after and failed to take required minimum distributions. Continue Reading IRS Provides Relief for Missed RMDs in 2021 or 2022
Social Security and Medicare COLAs Announced
Episode 207 – Next year’s 8.7% Cost of Live Adjustments (COLA) increase for Social Security and reduction in Medicare Part B premiums are welcome news. But how good is the news really? Continue Reading Social Security and Medicare COLAs Announced
Congress is Getting Serious About Retirement Savings: You Should Too
Episode 203 – Congress is worried about Americans’ insufficient retirement savings and you should too. Various legislative proposals seek to address these concerns. Continue Reading Congress is Getting Serious About Retirement Savings: You Should Too
What Do You Really Know About Your 401(k)?
Episode 193 – How much do people really know about their 401(k)? The latest research is not encouraging. Continue Reading What Do You Really Know About Your 401(k)?
Social Security Trustees Report 2022: Doomsday Deferred
Episode 183 – The Social Security Trustees issued their annual report in June. The news is mostly good, but not entirely. Continue Reading Social Security Trustees Report 2022: Doomsday Deferred