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The Paycheck Protection Program (“PPP”) created under the CARES Act provided much needed economic relief to businesses and other organizations negatively impacted by the COVID-19...
To help make sure your retirement income covers your needs and lasts for a lifetime, you need a custom plan. The 4% rule of thumb is a handy starting point, but it’s too general. Get specific to find your very own retirement number.
Why? The old asset allocation model of retirement planning focuses on the wrong part of the equation. Instead, Income Allocation offers a better road map to reliable income throughout retirement.
Getty Images You will need much more in retirement savings today to produce the same amount of retirement income as before, Advisor Perspectives magazine reported last month. Three times more! Current low interest and dividend rates simply make it impossible, the article said, to replicate the income of just a few years ago. For instance, historically it has cost $26,267 in savings to produce $1,000 of annual income with a 50/50 portfolio. As of January 2021 you need about $79,118 to reap that same $1,000. The article may be a little gloomier than necessary. For example, it doesn’t take i...
Getty Images More income, less risk and a bigger legacy to pass down to your family: Can you really “have it all” when it comes to retirement planning? Yes, but this type of successful planning requires innovation. Come with me as I examine some new thinking when it comes to your retirement finances. For a long time, it was thought that an encyclopedia could not at once be authoritative, comprehensive and current. At least one of the three important qualities had to give. Then came the internet, and the “trilemma” of the encyclopedia disappeared. But philosophers enjoy the concept th...