Pat does not currently receive any financial support from another parent and there wouldn’t be any upon her death. Her sister and brother-in-law are her children’s legal guardians and would move into her house if she died. Pat felt that their income combined with her children’s estimated Social Security Survivor Benefits would be enough to provide for childcare and basic monthly expenses as long as her debts were paid.
Congratulations Newlyweds! Your fresh union symbolizes a new beginning facing the world. But before the glow of wedded bliss wears, it’s crucial to talk about finances.
Remember way back to your first paycheck. The moment you open the envelope anticipating the windfall when all your hard work pays off. Then, like a swift kick to your gut, realty hits. Your takeaway earnings are almost always way lower than what you expected.
Buying life insurance usually starts with trying to determine how much and what type you should buy. You will probably need some help making those decisions, so following is some insight on how to choose an agent who can help you make a smart life insurance buying decision. All life insurance agents are required to be licensed by the state where they intend to make sales and to take continuing education courses. Agents selling variable...
The growing demand for more predictability and security planning for retirement income has led an increasing number of retirees and pre-retirees to look to annuities as way to provide more stability in their investment portfolios. They are also looking to annuities as a way to replace the third leg of the retirement income stool as a guaranteed lifetime income.
Generally speaking, conversations about life insurance revolve around whether you should buy term or permanent insurance. However, every decision to buy life insurance begins with deciding what is the right amount of life insurance. And, integral to determining the right amount of life insurance is understanding the role of your Social Security Survivorship Benefit (SSSB).
*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither...
Pat and Kelly, new parents, made a couple monthly budget adjustments upon the arrival of their first child. First, due to the added cost of day care and dependent health insurance, they decreased the amount they were saving for a house. And second, they agreed to review their life insurance needs. Pat’s sister suggested they buy $500,000 life insurance policies like she and her husband did when their child was born.
Even if you're not ready to retire, understanding how you benefit from Social Security can help with your retirement plans.
You’ve worked hard and after five years of disciplined savings, you’ve been approved for a 20 year $200,000 mortgage. It’s an exciting time and amongst the financial decisions ahead of you is determining if you should buy the bank-sponsored mortgage life insurance policy recommended by the loan officer.
While divorce may be hard on your emotional wellbeing, you shouldn’t let it impact your retirement plans.
A big mistake many professionals make with disability insurance coverage is that they take what is offered, and then buy and forget it. If they purchased it from one of the top insurers for disability insurance, they have probably been assured that they have the best possible protection with an “own occupation” definition of disability.
