I have heard and read arguments by very financially astute individuals that it is unnecessary to purchase life insurance on an infant because they do not produce an economic value. Another way of saying that is because the infant does not produce an income there is no loss of income to insure against. I believe that argument is completely and utterly ridiculous.
“Annuity” now there is a word that generates some mixed feelings, and along with those feelings a myriad of conflicting opinions, both personal and professional. How can someone possibly determine if annuities are a useful financial tool for them?
For retirees that wish to truly enjoy their retirement but still want to provide a legacy, setting priorities and finding a balance will be key. Most would agree that ensuring one's stability in retirement should be the top priority. The first step to ensuring you can enjoy retirement is to make sure you have enough money saved in the right type of accounts to make this happen.
Springtime is here! Spring brings a sense of renewal and optimism after the long dreary winter months. As the warmer weather moves in, we tend to find ourselves feeling more motivated, ready to clear out the old and bring in the new! Spring cleaning is a popular tradition for many, as it provides a chance to clear out any stagnant clutter and stale air. We kick off the season with scrubbing, organizing, and decluttering all of the physical aspects of our home and lives. This year, in addition to tidying up your home and other physical aspects of your life, why not do the same for your finances?
"If I could only contribute to one retirement account for the rest of my working career, it would be the Roth IRA/401k. Although there are many benefits to a Roth IRA, there are three benefits that I find to be most intriguing. On top of the benefits I lay out below, you will be pleased to hear that in recent years employers have made the Roth 401k more accessible and the contribution limit on Roth IRAs has been increased!"