Most retirement plans have not incorporated the longevity risk. Mortality risk is a risk multiplier that acerbates other retirement risks. Without mitigating mortality risk, many middle class retirees could exhaust their 401(k)s and be left with Social Security and a little equity in their homes. The possibility is based on the sequence of returns, the math principle of withdrawing from your retirement plan in down markets. The sequence of returns during that period of the Great Recession left some retirees reeling with cash shortages and a future some are still recovering from.
Living longer may affect the quality of life because medical bills and long term care costs will absorb discretionary dollars. 70% of seniors today use some long-term care assistance. Living longer will only compound the problem and the expense. If the baby boomer generation gets tight with their money, it could cause a rippling affect on the economy as spending grinds to a halt.
Inflation is a real and ever present danger to seniors. It doesnâ€™t matter what the declared rate of the CPI is or any other inflation indicator, if it doesnâ€™t include the commodities of life; itâ€™s a worthless gauge. The purchasing power of your retirement dollar is a risk and the longer you live the risk becomes greater. It is estimated that over the last 50 years the purchasing power of the dollar has eroded 85%. It could be a mini-depression for those living past average mortality expectations just to pay the bills. Even Social Security canâ€™t be relied upon to generate a cost of living adjustment (COLA). Over the last seven years, Social Security has credited little to nothing in COLA for Social Security recipients.
Only guaranteed lifetime annuities can generate life-long income and can be purchased with a COLA to meet increasing costs of living during retirement. Without guaranteed lifetime income and an inflation rider, youâ€™re subject to running out of money with no increase to meet the demand of the increasing costs of basic goods and services. Now is the time to purchase a block of income for your portfolio.
Lindahl has authored two books available on Amazon.com The Pros and Cons of Indexed Annuities and Retirement Reality Check.
Portions of this press release contain content from Lightbulb Press with permission.
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Since 2003, we have been serving our communities around Atlanta, GA with affordable insurance. In 2007, we rebranded our business as Velox Insurance. Velox Insurance, Inc was established with the goal of providing competitive rates and superior customer service to meet insurance needs of our customers in the Southeast.
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Norwalk Insurance Agency Educates On The Cost of Contractors Insurance
Norwalk, Connecticut (findit ) January 20, 2021 – JMG Insurance, a Norwalk specialty insurance agency, offers readers some valuable information regarding how much contractors insurance costs. The new article is guided by the insurance experts at JMG who have extensive experience helping clients find the perfectly priced plan for their needs. They have designed this new article to help readers get a better idea of what factors will affect the cost of contractor’s insurance the most.
JMG Insurance offers readers some valuable information that explains how to calculate what the cost of contractor’s insurance may potentially be. In the article, they explain what contractors insurance is before getting into the things that affect their cost. Some of the factors they go over include the number of employees, the types of contracting jobs, the risks associated with services, and others. They hope that this article will help contractors searching for insurance understand what to expect while also demonstrating the importance of working with experts.
While this new article focuses on explaining how to calculate the cost of contractor’s insurance, JMG’s website offers visitors more information regarding their team, experience, as well as a full list of service offerings. JMG offers personal, business, and specialty insurance that helps clients get the protection they need at the best possible rate. They offer thorough insurance plans for business owners, contractors, errors and omissions, general liability, group benefits, construction companies, and more. Their agency was built on the principles of providing superior customer service and quality insurance solutions for their clients, and they work hard to uphold these values. Their team strives to make the insurance process as simple as possible for every client.
With the addition of this new article, the team at JMG hopes that contractors will have a better understanding of what factors will affect how much a comprehensive insurance plan will cost. For more information, reach out to the qualified contractor insurance experts at JMG today at 1-844-304-7332 or visit their website at https://jmg.com/. Their offices are located at 29 Haviland Street in Norwalk, Connecticut 06854.
Apply For Student Debt Relief Programs Available to Borrowers with Freedom Loan Resolution
Students that are living paycheck to paycheck and struggling to make ends meet as a result of their past due student loans can apply for available student debt relief programs with Freedom Loan Resolution. We our a group of experienced student loan debt counselors that know and understand the situation that you are in and we are here to help you apply for the right debt relief program to meet your needs.
Oftentimes, juggling mandatory living expenses such as housing payments, car payments, utilities, and food and credit card bills, there is not enough money left over to pay your student loan debt. Moreover, when you are in a financial hardship, struggling to make ends meet, it can be difficult to figure out the best course of action for your student loan debt. Let us help you apply for the right debt relief program that will help you get the debt relief that you need so you can move forward on the right financial path.
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In student loan forgiveness, students may be eligible for a principal reduction, partial loan forgiveness, or total loan discharge. Each case is different and we will help determine which you qualify for.
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