Baby Boomers Archives - Page 4 of 5 - Jerry Golden on Retirement

Late-in-life marriage requires more answers than “I do”

June 21, 2016 By Jerry Golden in Interesting Articles, Social Security Tags: Baby Boomers, Late-in-life marriage, retirement income, Social Security

Marriage later in life can be a satisfying and romantic accomplishment, whether it is a first-time event or the rekindling of love after a divorce or death of a spouse.

However, unlike marriage in your 20s, making the commitment in your 50s, 60s or later suggests not so much a walk down the aisle as finding your way through a maze of decisions about money.

The union of two experienced people illustrates the quandaries of a modern mixed marriage: Whose investment philosophy will we follow and which financial advisor do we keep? More

Plan for a retirement of success with guaranteed income

June 14, 2016 By Jerry Golden in Annuity 2 Comments Tags: Annuities, Baby Boomers, Guaranteed Income, retirement

None of us intentionally plans to fail.

We don’t intend to falter, even when we embark on difficult quests, such as retiring with enough income for the rest of our lives.

However, sometimes we fail to plan and, as Benjamin Franklin reputedly said, anyone who does that really is planning to fail.

Consider this scenario: You come home from work with good news. You got a raise! If – when your spouse asks what your new take-home pay will be – you answer, “It depends,” you’ve got an issue, because it’s impossible to plan for how much you can spend and save.

Will your advisor consider all options?

Experts on income annuities: Look at the benefits

June 8, 2016 By Jerry Golden in Annuity, Social Security 2 Comments Tags: Annuities, Baby Boomers, retirement income, Social Security

There is confusion on the internet, and even in the financial industry, about the value of annuities. Some of the dissonance occurs because there are several types of annuities and it can be confusing to decide how some of them might apply to an individual’s retirement situation.

But if we concentrate on income annuities, either immediate or deferred, we will see that more institutions – and smart people – are talking about their benefits.

They are beneficial to people who have saved a decent amount for retirement and are trying to figure out how to create guaranteed income for life, as opposed to hoping their retirement savings, invested in stocks and bonds, last as long as they do. More

Build a retirement plan with the right recipe – for you

June 1, 2016 By Jerry Golden in Annuity Tags: Annuities, Baby Boomers, retirement income

While you research annuities on the internet as part of your investigation of retirement options, you will see a long list of ads and columns from financial advisors warning you about the pitfalls of investing in a product that provides guaranteed income for life.

The writers will discuss taxes, the complexity of annuities, the supposed difficulty of transferring money to heirs, and the threat of high fees.

They imagine retirees as gluttonous consumers who gorge themselves on a feast of annuities to the exclusion of all other options – and who woozily regret their decisions the morning after. More

The top 3 myths you will hear about annuities at tax time

March 22, 2016 By Jerry Golden in Annuity 1 Comment Tags: Annuities, Baby Boomers, Dependable spendable income, Guaranteed Income, retirement

As you pull together your records to prepare this year’s tax return, it might mark the first time in a while that you’ve really examined your finances.

If you are one of the many retired Baby Boomers, perhaps the amount of your interest income caught your eye. You were probably surprised, because if you’ve got $100,000 of your retirement assets in a bank savings account, the tally of monthly interest amounts to a little more than $20 per month. For the year, you earned around $250.

Your money isn’t working for you. More