Buying a home is the single-largest financial commitment most people ever make. And sorting through mortgages involves a lot of critical choices. One of these is choosing between a fixed or variable interest rate mortgage.
True to its name, fixed-rate mortgage interest is “fixed”...
Once you turn 65, the world of Medicare opens to you, and you also gain access to its offshoot supplemental programs. You likely know about Part A, Part B, Medicare Advantage, and other sections, but you may not know...
The IRS receives income information from employers and financial institutions. Individuals who overlook reported income are easily identified and may provoke greater scrutiny.
No one wants to see an Internal Revenue Service (IRS) auditor show up at his or...
Hardly a day goes by that the topic of bitcoin or other cryptocurrency assets doesn’t come up in meetings with clients and prospects or from friends and relatives who want to know, “what all the buzz is about?”
The first week of 2021 has already had many ups and downs. Just because it’s a new year doesn’t mean that the 2020 issues go away, and so far, 2021 has been no exception to this rule.
Our brand-new, downloadable Tax Planning eBook can be a valuable resource when helping to stay prepared for the upcoming tax season. Download a copy now.
By April 19, 2019, 137 million taxpayers had dutifully filed their federal income tax returns.1 And they all...
More than half of us have some level of investment in the market — mostly in retirement plans such as 401(k)s. Recent market volatility may have left you rethinking how much risk you’re willing to take with your nest egg, especially...
You check in annually with your doctor, your dentist, and even your mechanic, but what about your pharmacist? After all, the average American age 45 and older takes four prescriptions a day. Getting...
What if your basic expenses can't be covered by your existing sources of dependable income?
There's no straight line to follow when it comes to crafting a solid retirement plan. But the final destination is the same for everyone: making sure...
The average Social Security recipient will see a monthly bump-up of about $20 overall.
Starting on January 1, 2021, Social Security beneficiaries will see a boost in their benefits. Over 70 million recipients of Social Security and Supplemental Security income...
Depending on the specifics of your coverage and how often you use the healthcare system, your out-of-pocket costs could reach well into six-figure territory over the course of your retirement
Healthcare spending in retirement has already been a hot button financial...
With the early effects of the pandemic now more in the rearview (and with the uncertainty of what lies ahead), many Americans are also rethinking their finances and improving their financial wellness.
Everyone faces challenges to some extent when moving into retirement. Even those with the best-laid plans can still have some financial hiccups. And with everything that has happened in recent years, millions of Americans are wondering what it all might mean for their financial futures.
Individuals with significant assets may want to consider attaching an umbrella policy to their homeowner’s policy.
Purchasing homeowner’s insurance is not only critical for protecting your home and personal property against any potential liability; if you have a mortgage, your lender...
Men and women can learn from each other when it comes to retirement planning.
You may remember the best-selling book Men Are from Mars, Women Are from Venus, by John Gray. It was a cultural phenomenon back in the 1990s, focusing...
According to Spectrem Group, an investor research firm, one of the biggest fears for investors in 2019 was a market downturn and ensuing economic downturn.
There is no doubt that the pandemic has broad public health and economic impacts for millions of people.
Withdrawals from your 401(k) or other defined contribution plans are taxed as ordinary income, and if taken before age 59½, may be subject to a 10% federal income tax penalty.
Whether you sell or stay, big home improvement projects are expensive.
Are you thinking of downsizing from your current home or getting another place that better fits your needs? Deciding whether or not to make improvements to your house and...
Estate planning doesn't have to be complicated. There are a wealth of private and public resources available to help you through all phases of securing care for your child.
The need to care for disabled children may continue...
Remember that knowledge is power, and the more you understand about economic trends, the less overwhelming it may feel when the market takes a sharp drop.
No one could have predicted the outbreak of COVID-19 and its...
Divorce can be an emotionally and financially challenging life event. In the face of the many possible adjustments divorce entails, making changes to insurance coverage may be overlooked.
The key distinction for determining if a personally owned car may need commercial auto insurance coverage is whether the vehicle is used for any business-related purpose.
For small business owners, the line between the personal and their business can be...
An investor can't afford a turnover when they are within a few years of retirement.
Consider it the new normal: planning for financial success in uncertain times. While it can be tempting to hold off on making decisions or taking action,...
When you own a small business or freelance, paying yourself first for retirement is a solid strategy. But, it’s not always easy. Economic downturns may tempt you to put saving on hold. Even if you only put a
A D&O insurance policy provides financial protection for managers against claims arising from actual or alleged “wrongful acts” of directors and officers acting within the scope of their managerial duties.
Liability insurance for directors and officers is not just...
The addition of an annuity with a guaranteed minimum withdrawal benefits retirement portfolios—replacing cash or fixed-income allocations. It increases total income while it decreases risk.
Taking withdrawals from a traditional portfolio exposes fixed-income investors to “sequence of returns”...
A retired household faces three types of health care expenses.
In a 2020 survey, 36% of all workers reported they were either “not too” or “not at all” confident that they would have enough money to pay for their medical expenses in retirement....
If you are donating art to a private tax-exempt organization, e.g., a private foundation, your deduction will be based on the price you paid for the donated art.
The varied reasons to donate art include a personal affinity for a...
At age 50, workers in certain qualified retirement plans are able to begin making annual catch-up contributions in addition to their normal contributions.
Most children stop being “and-a-half” somewhere around age 12. Kids add “and-a-half“ to make sure everyone knows...
One survey found that 79% of small business owners expect at least some of their retirement income to come from tax-advantaged retirement savings accounts.1 If you have yet to develop a retirement plan for your...
MYGAs usually have terms that last anywhere from 3 to 10 years.
For retirement savers wanting more growth potential than what CDs and other fixed-interest assets might offer, fixed index annuities can be an attractive option. Indexed annuities can earn...
Of those aged 65 and older, 10 to 20 percent have mild cognitive impairment. In addition, women have a 1 in 6 chance — and men have a 1 in 11 chance — of developing Alzheimer’s during the remainder of their lives.¹
Do you prefer the approach taken by index funds or the strategy behind active management?
Whether it’s sports, music, or politics, life holds any number of “great debates”– debates that never seem to reach a conclusion. In investments, that great...
A living trust is a popular consideration in many estate strategy conversations, but its appropriateness will depend upon your individual needs and objectives.
What is a living trust?
—
A living trust is created while you are alive and funded with the assets you choose to transfer...
Dividing assets may sound simple but it can be quite complex.
The latest research suggests that divorce rates in the U.S. have been falling in recent decades. Still, many people face the difficult crossroads that comes when their marriage ends.1
It’s important to remember that any amount of life insurance is better than none at all.COVID-19 has led families to cancel travel plans, get (semi!) comfortable with homeschooling kids and deal with all kinds of other inconveniences.
The choice of business structure is not an irreversible decision.
In March 2015, about 679,072 new business had been created in the preceding year.¹ All individuals pursuing the dream of exercising their entrepreneurial muscles, will face the same question, “Which business...
Indexed Universal Life’s earnings rate is pegged to a financial index such as a stock index.
According to LIMRA, indexed universal life insurance policy premiums increased 23% in 2014. But financial experts warn this product, which was first introduced...
Aging-in-place is a much-desired goal for most retirees.
With record numbers of baby boomers retiring, many new trends are coming into the retirement landscape. Among boomers, there is one growing trend of "solo agers," or those who retired without...
A bucket plan can help you be better prepared for a comfortable retirement.
John and Mary are nearing retirement and they have a lot of items on their bucket list. Longer life expectancies mean John and Mary may need to prepare...
Generations Xers were the most concerned about saving for retirement.
Franklin Templeton's annual Retirement Income Strategies and Expectations Survey (RISE Survey) was recently released for 2020. This is the ninth year that the RISE Survey has been published.
According to the Small Business Administration (SBA), insufficient or delayed financing is the second most common reason for business failure.
At JenniferLangFinancialServices.com, we help small businesses apply for financing through our network of banks including SBA loans, Bank Term loans,...
Routinely review your Official Personnel Folder (OPF) for accuracy.
As a postal or federal employee, you have high-quality federal benefits. In time, they will play directly into your retirement, whether you will be eligible to retire in...
It’s important to understand the differences between a Roth IRA and life insurance.
In a few ways, a Roth IRA and life insurance share some similarities. They both receive tax-advantaged treatment in the IRS code. They enable efficient wealth transfers...
Failure to diversify tax liabilities at retirement may negatively impact retirement income.
Many people know about life insurance and how it may give financial protection. What about using life insurance in retirement? Just look online, and you will find all sorts of...
Some of us share a common experience. You’re driving along when a police cruiser pulls up behind you with its lights flashing. You pull over, the officer gets out, and your heart drops.
“Are you aware the registration on your car has expired?”
No matter how you decide to structure your investments, don’t forget it's always a smart move to speak with your financial professional before making a major change.
Many investors are looking to build a portfolio that reflects their socially responsible values, while...
The SECURE Act’s rule change for RMDs only affects Americans turning 70½ in 2020 or later.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act is now law. With it, comes some of the biggest changes to retirement savings law...
The right software can make life more productive; the wrong software may cost you time and money.
Maintaining good records is important to help meet your tax and legal obligations. The right record keeping system not only helps satisfy these obligations,...
Concerns over identity theft continue to grow, especially with the news of data breaches at major companies and financial institutions. Unfortunately, you have little control over when a company is hacked, but you do have control over your own actions.
Since women are living longer than men, it’s crucial to be more engaged in long-term planning and ensure you have a well-thought-out retirement income strategy.
Many men and women approach money management and financial wellness differently and this difference often extends...
The payments on a 30-year mortgage are generally lower than 15-year loans, but their interest rates tend to be higher.
When selecting a fixed-rate mortgage, a prospective borrower has to determine how many years to finance the loan. Some financial institutions offer 10-year...
Medicaid can help with basic expenses - but generally only after you have impoverished yourself by spending your assets down to less than $2,000 depending on your state.
Both traditional and Roth IRAs can play a part in your retirement plans.
Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 33.2 million U.S. households. And Roth IRAs, created as part of the Taxpayer...
Without long-term care insurance, the cost of a nursing home stay or a home health care aide could wreak havoc on your finances and whittle away at that nest egg you've worked so hard to build. As millions of baby...
A fixed term annuity provides a regular retirement income for a number of years.
Pension and life insurance companies are reporting a major up tick and demand for fixed term annuities since the coronavirus outbreak started, with the number of applications almost 4...
Drinking may be a “rite of passage” for teens, but when it occurs in your home you may be held responsible for their actions.Despite the overwhelming research documenting the health and behavioral consequences of underage drinking, some parents believe that allowing...
Experiencing negative returns early in retirement can potentially undermine the sustainability of your assets.
Taking withdrawals from a traditional portfolio exposes fixed-income investors to “sequence of returns” danger. In other words, experiencing negative returns early in retirement can...
Social Security’s financial crisis is real, but the prospect of its failure seems remote.
For most Americans, Social Security has represented nothing more than some unavoidable payroll deduction with the positively cryptic initials of “FICA” and “OASDI” (Federal Insurance Contributions...
The IRS has a scoring system it calls the Discriminant Information Function that is based on the deduction, credit, and exemption norms for taxpayers in each of the income brackets.
No one wants to see an Internal Revenue Service (IRS)...
Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach...
Under the SECURE Act, in most circumstances, once you reach age 72, you must begin taking required minimum distributions from a Traditional Individual Retirement Account (IRA).
The reason withdrawals from an Traditional Individual Retirement Account (IRA) prior...
Workers have tax-advantaged ways to save for retirement.
Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible.
Both general obligation and revenue bonds share certain investment risks
The city of Detroit emerged from bankruptcy in 2014. Still, its previous inability to pay investors left some questioning their long-held assumption about the relative safety of municipal bonds. Without...
The shift from pensions to self-managed retirement accounts has brought large change for retired and working-age people. Today, Americans bear more financial responsibility for their retirement than ever. The days of receiving monthly pension checks are gradually fading....
Setting aside an extra $6,500 each year into a tax-deferred retirement account has the potential to make a big difference in the eventual balance of the account.
A recent survey found that 23% of people were very confident about having...
Annuities are for savers who like the peace of mind of guaranteed monthly income they can count on.
During your accumulation years, you may have categorized your risk as “conservative,” “moderate,” or “aggressive” and that guided how your portfolio...
Having the right annuity for your needs can be a strong addition to your retirement portfolio.
As an annuity owner, you take comfort in knowing that you have planned for an uninterrupted lifelong retirement income stream. Working alongside other income sources...
Your parents should have a plan for important legal and financial matters like retirement spending, long-term care and estate planning.Almost half of Americans in their 40s and 50s are part of the sandwich generation — meaning they have a...
This new personal finance series will save you thousands
What if you could get a huge deposit into your income account, have it grow at a guaranteed rate and have a guaranteed payout of your retirement income account...
Like a traditional IRA, contributions to a Roth IRA are limited based on income.
Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 33.2 million U.S. households. And Roth IRAs, created as part of...
You’ve probably given a lot of thought to what your dream retirement will look like. Now it is time to decide how you are going to pay for it. Like the rest of life, retirement doesn’t come with guarantees....
You may begin receiving benefits as early as age 62, though your benefits will be reduced at a rate of about one-half of 1% for each month you begin taking Social Security before your full retirement age.
Stocks rebounded sharply in April, fueled by a flattening pandemic curve and positive results from a clinical trial investigating a treatment for the virus.
Social Security is a critical component of the retirement financial strategy for many Americans, so before you begin taking it, you should consider three important questions. The answers may affect whether you make the most of...
Without a doubt, your first priority in life is taking care of your children. It's a good time to start thinking about their future. Everyone deserves a secure financial future—and that's why life insurance is so important. Whether...
There are multiple ways you can potentially raise your Social Security benefits.
Most understand that waiting to claim Social Security benefits can result in higher monthly payments. However, many don’t know that there are other ways...
Even if you consider yourself a conservative investor, remember that stocks historically have provided higher long-term total returns than cash alternatives or bonds, even though they also involve greater risk of volatility and potential loss.
Looking at their recent track records doesn’t do much to settle the debate. Over the past decade, as a whole, value stocks have not performed as well as growth stocks.1 But looking at a larger body of...
Women have unique financial needs. This eBook serves to help women with tips and guidance to maximize growth and protect retirement capital.Retirement Planning Specialist and Author Jennifer Lang, today announced the...
Annuities are the only financial vehicle that can offer guaranteed lifetime income.
Before you add an annuity to your income strategy, it’s prudent to understand what an annuity does and what it doesn’t do. Essentially, annuities are insurance contracts....
Many self-insure by default – simply because they haven’t made other arrangements.
Addressing the potential threat of long-term care expenses may be one of the biggest financial challenges for individuals who are developing a retirement strategy.
Capital losses may be used to offset capital gains. If the losses exceed the gains, up to $3,000 of those losses may be used to offset the taxes on other kinds of income.
The fascinating aspect of this debate is that equally intelligent people can argue polar opposite positions, leaving the rest of us to wonder what the answer is, if one even exists.
Whether it’s sports, music, or politics, life holds any number...
Retirement may look a little different for women, but with the right strategies – and support – you’ll be able to live the retirement you’ve always dreamed of.
Preparing for retirement can look a little different for women than it does...
Periods of market volatility can be the worst times to consider portfolio decisions.
The COVID-19 outbreak has put tremendous pressure on stock prices, prompting some investors to blindly and indiscriminately sell positions at a time when the entire market is...
Some homeowners benefit from a mortgage interest deduction on their taxes.
Anyone who has gone through the process of mapping out their retirement knows there can be a lot to keep in mind. Saving, investing, anticipating medical costs, and making sure you...
In a recent study, 88% of millennials admitted that financial decisions are a source of tension in their relationship with a spouse or partner. This could help explain why some experts say financial problems are the #1...
The CARES Act waives the 10% early withdrawal penalties on 401(k) plans, giving some account owners up to three years to replace what they take out of their 401K.
Few life events are more stressful than a job loss.
Deferred annuities may offer protection of your principal. Fixed deferred annuities guarantee your principal and a minimum rate of interest as declared in the contract when you buy the annuity. Annuities as an IRA Investment Option A...
The younger and healthier you are, the less life insurance will cost you. Both women who work and those who stay at home contribute to the economy and to their families. From completing household tasks to making important decisions...
The journey to financial independence can feel a bit like driving around with your entire retirement fund stashed in the open-air bed of a pickup truck. Every dollar bill is at the mercy of the elements. Think of an unforeseen...
Sure, you can start your Social Security benefits at age 62. But is it better to claim early or delay benefits until a later date? While a one-size-fits-all answer doesn’t work for everybody, a new study suggests that ill-timed...
Everyone could use a little help on their way to financial stability and independence.Who knew that having a financial strategy in place has the potential to improve your love life? Here's the proof:84% of Americans...
In the event of a disability, critical illness, or premature death of a breadwinner? Those situations are a bit tougher to bounce back from – especially that last one.
Permanent life insurance can help provide the lifelong security that you may want, and if you have a convertible policy, it can be significantly easier to make the switch.
Talk to a financial professional today and find out what type of life insurance is best for you.If you’re young and healthy. You should strongly consider purchasing life insurance, and here’s why: People who are young, healthy and have a...
Graduating with student loan debt comes with tremendous responsibility, especially since interest continues to accumulate as time goes on. Saving and paying for college can be a challenging goal and you may be among the many...
If some of the unique features of universal life are appealing to you, perhaps now is the time to consider how this type of policy can best fill the needs of your business plan.As...
Don’t blur the lines by allowing employees to use personal equipment for company business; it’s harder to control the quality of information and may inadvertently lead to security issues down the road.
Whether your employees telecommute a few days each week or...
Which Ways are Best for You? Each family has unique circumstances: Different finances, sources of income, academic aspirations (and strength of each student), etc. For many families, it makes sense to seek college preparation, selection and funding advice...
If you find yourself in a lower tax bracket for the year and the coronavirus has affected your income, you may want to consider taking a distribution to make up lost ground anyway.
If you have never purchased life insurance or if it has been a while since you bought your policy then you may be under-insured. Use these tips to help calculate your life insurance needs. Plan ahead for life-changing events:...
Women face unique financial challenges as they age. When compared with men, women live longer, earn less, and spend fewer years in the workforce. Financial concerns are often more acute for older women who are divorced,...
Over half of Americans begin collecting Social Security before reaching their full retirement age.
Most Americans depend on Social Security for retirement income. Today, 55 percent of Americans aged 65 or older live in households that receive at least 50...
Recent research shows that baby boomers and Generation Xers who are in the lower income brackets are more likely to fall short of their retirement goals, which will leave them lacking enough money to live on.
Growing a small business takes capital. Here are lenders that say yes!When looking ahead to the growth of your business, it makes sense to focus on the strategic issues—the where’s, when’s and how’s. But as pointed out...
If you are projecting an income shortfall in your plan, one strategy would be to create an annuity. “What can we do to not run out of money in retirement?” and “Will we have enough money to last as long as we...
More small business owners are turning to alternative lenders for outside financing. That’s because the application process is very easy and decisions are often made within a day. It’s not always easy for small business owners to pinpoint the...
Nearly every working adult dreams of a comfortable retirement, to finally be free to enjoy life.If you’re approaching retirement age, it’s important to check on your numbers to be sure you’ve considered all the factors. If you’re younger, it might be difficult...
With a large-sized portfolio in hand, you may feel like your financial future is set, but there are still plenty of potholes to avoid on your road to retirement. Congratulations! You have accumulated a nice “nest egg” – or a large lump...
Just three percent of Americans have a written financial plan.When venturing into the great unknown, you wouldn’t travel without a GPS or a map. They are a “must-have” for reaching your destination. And for arriving on time, for that matter! How...
One important thing to keep in mind is that the exam’s purpose isn’t to pass or fail you based on your health.I don’t know about you, but most people don’t like exams – either taking one or having one done...
Not setting aside money for our future wants and needs is unvarnished moronic, delusional behavior. The time to start retirement planning is always now.
Most of us would agree, as we go through life, we make blunders, mistakes, misjudgments… In short, we...
When the economy is tooling along and we find ourselves facing only an occasional hiccup in our money matters that falls short of expectations, it’s easy to feel complacent about the future. Surely life tomorrow will be a lot like it...
To maximize your money, think about your retirement portfolio as having three different buckets. If you worry that your money won't last your entire retirement, you're not alone. As of 2017, the average 65‑year‑old man can expect to live...
The Centers for Medicare and Medicaid Services has issued new guidance regarding how Medicare Advantage and Part D plans can respond to enrollees affected by the coronavirus outbreak.
Under the guidance, the plans are authorized, but not required...
If your beneficiaries are grown up and no longer rely on your life insurance death benefit, you may execute a 1035 exchange to a lifetime income annuity maximizing your income over your expected lifetime, rather than paying a large death benefit....
Does the prospect of saving for retirement seem more daunting than ever? You may be concerned with market losses, the risk of outliving your money and Inflation.
Investment planning is different from retirement planning. As you get closer to retirement, it's important to start planning your retirement income strategy or you may need a refined or updated income plan that helps you achieve your specific retirement goals.
But rather than making condemning judgements toward a group of people, ask yourself this: how do Millennials actually feel about certain things, like retirement or the economy or getting a job?
Because every generation believes that younger generations have it...
Plan ahead for long-term care costs. Medicaid only kicks in after you have spent down most of your assets to poverty levels, and only if your income is at the poverty level in your state.
Term life insurance can provide income protection to help keep your family’s financial situation solid, and help things stay as “normal” as they can be after a loss. These days, most families are two-income households. That...
Couplehood can be a wonderful blessing, but – as you may know – it can have its challenges, too. In fact, money matters are the leading cause of arguments in modern relationships.* The age-old adage that...
It’s late Friday afternoon. Your to-do list is a crumpled, coffee-stained memory in the bottom of your wastebasket. Another great week in the books! But as you head out for a night on the town with...
Your circumstances are unique. They should be carefully considered before deciding your pension payout strategy. Consulting with a financial professional can help you explore your options and determine which strategy might be best for you. If you are among the rare few...
Market downturns aren’t the only factor which can drain retirement funds. Events such as emergency medical situations or unexpected personal crises may also lead to financial duress.
Many great companies have been started by two or more chums with a shared vision and an effective combination of skills. If either of the partners isn’t prepared to handle the challenges of entrepreneurship, the outcome might be disastrous, both from...
Even if the policy doesn't provide sufficient coverage to retire the debt completely, a life insurance policy can give you some breathing room until you can make other arrangements.Playing Monopoly as a young kid might have given you some strange...
Investors who work with a financial professional often report better outcomes in a variety of areas: higher retirement savings, more confidence about their retirement finances, better peace of mind, and an improved sense of personal...
There are two types of policies, but it’s more accurate to think of them as temporary or permanent. It’s kind of like renting an apartment vs. buying a home.
Most people, when they think of life insurance, might think of...
Looking for a reputable small business loan lender? We can help. Click here..... Being a single mother means life can be challenging and unpredictable. The same can be said for starting and running a small business. For single...
One type of IUL insurance product is designed to offer growth and income potential. This type of robust solution may be most attractive to people ages 35-55 who are seeking accumulation as well as multiple options to optimize income distribution....
Before you make your move, try to save up for the 20% down payment as well as any additional amounts to help cover closing costs. You’ll also want to have an emergency fund stashed away before...
In retirement, you could pay taxes on money withdrawn from IRAs and other qualified retirement plans, perhaps even a portion of your Social Security benefits.
It seems high time to dispel some of these misconceptions. Generalizations about money and retirement linger. Some have...
If you are thinking about retirement what's your plan B for Long-Term Care costs? Medicare only pays for 100 days, after that how will you pay for it and where will the money come from?
When you're young, the main considerations are life insurance and savings.Depending on where you are in life’s journey, retirement may seem like a distant mirage, or it may be closing in faster than expected. You might think that deciding when to start...
A key reason that index universal life has become so popular is that it is an excellent product in which to save money now to produce steady cash flow later in...
If you have a home mortgage, and a monthly payment that is dependent on your earned income, watch this short video to learn how you can pay off your home mortgage or continue making your monthly mortgage payment even...
Medicare does not pay for long-term care. Medicare only pays for 100 days. After that, what's your plan B? Talk to us, we can help.“The Breakfast Club” was a classic coming-of-age film. The stars of the movie? Gen X misfits dreaming of...
Nearly one in two Americans (48%) said they worry about their finances, leading to sleep loss, distractions at work, and other disruptors in work performance.
If consumer studies give any indication, America needs a financial wake-up call. A lack of consumer financial...
Indexed Universal Life Insurance offers some potential for savings growth while keeping your money intact when the market falls.In the last decade, we had two major market crashes. Understandably, many working professionals worry about the long-term safety of...
Life insurance can also maximize a pension by supplementing a surviving spouse’s income, or established into a life insurance trust to allow you to pass on to your heirs outside of your estate (often avoiding both estate and income taxes).
The reality of retirement may surprise you. If you have not met with a financial professional about your retirement savings and income needs, you may wish to do so.
Some specifics about the "second act." Does your vision of retirement...
Baby boomers had the highest level of disagreement about how much money they need for their lifestyle in retirement.Over the years, you and your spouse have probably had many wonderful conversations about your retirement dreams. Maybe you talked about traveling to...
As we prepare for retirement, we must be mindful that people are living much longer today. Guaranteed income from annuities give you added peace of mind.
We've all seen them.......Those TV shows and commercials where the wealth manager of an...
Before you retire, consult a financial professional. Many working-age investors don’t fully know what their investments are.Like other working-age investors, you may have a 401(k) account — or another employer retirement plan. In anticipation of the future, you probably are socking...
There are many types of IRAs. But two of the most common are the traditional IRA and the Roth IRA. The type of account you select can have a significant impact on your long-term household savings. The biggest difference between...
Learn how to shield up to 25% in RMDs taxes. Talk to a financial professional at JenniferLangFinancialServices.comImagine you are driving to work one day and daydreaming about all the things you will do when you retire. But when you walk into...
A knowledgeable financial professional can help you walk through these considerations. Contact JenniferLangFinancialServices.com
Do you have a current annuity or insurance policy that doesn’t fit your needs well? If you are on the lookout for a new policy, a 1035 exchange may be...
Get no-market risk financial planning now. Save money and protect your future. Contact JenniferLangFinancialServices.comAs Benjamin Franklin is credited with saying, “An investment in knowledge pays the best interest.” But actually investing in gaining more financial knowledge is an activity that many...
Business insurance not only protects your business, but helps to protect your hopes & dreams.
Protecting your business is essential to secure the means of your earning by limiting the risk factor to a minimum. At times, it could be all the difference...
Retirement Planning Services at JenniferLangFinancialServices.com will help you put together a holistic plan for retirement.
Many retirees get an unpleasant surprise after turning 65 and signing up Medicare. It doesn't provide complete coverage of health care costs. In fact, there are...
Does your retirement plan factor in inflation, health care and lon-term care costs and give you the peace of mind that you'll never outlive your money? If not, contact JenniferLangFinancialServices.com
More than 9 out of 10 current retirees rely at least...
Small Business Owner Retirement Planning Services at JenniferLangFinancialServices.com
As a small business owner or an entrepreneur, you are used to taking the lead. But there is one frontier you may still need to master… the future of your retirement. That...
Choose an annuity with more options at JenniferLangFinancialServices.com
While many private-sector workers build their nest eggs through 401(k) plans, federal employees and members of the uniformed services have their own retirement savings and investment plan. This is called the...
No-Market Risk Financial Planning at JenniferLangFinancialServices.com
It is often perceived that financial planning is only for the rich people. However, this idea is fast getting outdated. Financial planning is for anyone who wants to maximize their profit in order to have...
All of us wish to gain financially stability, but only a few of us manage to achieve that. Fortunately, there is a way through which you can save up money and become financially stable....
Learn more financial planning strategies at our podcast, Independent Wealth Planner Strategies with Jennifer LangA major trend in 21st Century American life is the number of young adults living at home with parents or other family. The numbers jumped over 10% since 2000 and...
Get a life insurance quote online now....Being healthy not only makes you feel good, it may also help you financially. We constantly hear how important it is to maintain a healthy lifestyle. That is not always easy, especially...
Compare life insurance rates online. Get a life insurance quote now....Insurance is intended to protect your assets and to help cover certain risks. Policies may have standardized language, but each insurance policy should be tailored...
Compare online life insurance rate quotes now. Get a quote... When buying life insurance, your health matters. One of the most common impairments we run into with underwriting is heart disease. It comes in many shapes and...
Grow Your Business With a SBA Loan. Click here to apply.Financing a new business can be extremely challenging.You must secure enough capital to purchase everything you need to begin offering your product or service—from a physical location to a website,...
401(k) Rollover Services and No-Market Risk Retirement PlanningIs your company's 401(k) plan as good as it could be? Two recent court rulings may make you want to double-check. How often do retirement plan sponsors check up on 401(k)s? Not as often...
Financial advice by JenniferLangFinancialServices.comHave a home-based business? Have a teen driver? Consider umbrella insurance. In 2017, the U.S. had a record 11.5 million millionaires, up from 10.8 million in the previous year. An increase in personal wealth may bring greater financial...
ROTH IRA Conversions Can Help Shield Up to 25% In TaxesUnmarrieds need to approach retirement planning pragmatically. In an ideal world, it would be simple to prepare for a solo retirement. You would just save half as much as a couple...
Tax-free Retirement Planning at JenniferLangFinancialServices.com
It’s always important to diversify and spread your risk among many investments. Diversification can help protect you from fluctuations among different assets and asset classes.1 But, what about diversifying your tax rate exposure? By diversifying among different...
Small Business Owner Retirement Plans at JenniferLangFinancialServices.comAs a small business owner, you may want a better retirement plan – one that will let you and your key employees save much more for retirement. If the annual contribution limits on standard...
Get an Annuity Quote From a Safe Money Retirement Income Pro
If you are within five years of retirement (before or after), you're especially vulnerable to a downturn. A recent RetireOne study showed what happens to someone who retires with...
Retirement Planning with Medicare in Mind.What are your options for insuring yourself prior to age 65? If you retire before age 65, you must be prepared to address two insurance issues. One, finding health coverage in the period before you can...
Retirement planning should include annuities for guaranteed lifetime income and long-term care benefitsStart your "second act" with inadequate assets, and your vision of the future may be revised. How much have you saved for retirement? Are you on pace to amass...
Start Your Own Retirement Plan With Only $100 a month.It may seem like a tall order, but it can be accomplished. Plan to put yourself steps ahead of your peers. If you have a young, growing family, no doubt...
Financial Planning | Retirement Planning for Millennials
Recessions are never good for anyone. A sputtering economy means miserable financial, emotional, and physical-health consequences for everyone from infants to retirees. But the next one—if it happens, when it starts happening—stands to...
Retirement Planning Services at Jennifer Lang Financial ServicesThis retirement plan allows teachers & employees of non-profits to invest for their futures. Does your spouse contribute to a 401(k)? You are probably eligible for a retirement plan that can help you save and...
FInancial STability is nothing more than good risk management. The main areas of financial risk that often impact families can be summarized by the four L’s:
Financial Advice | Retirement PlanningKey lessons for retirement savers. You learn lessons as you invest in pursuit of long-run goals. Some of these lessons are conveyed and reinforced when you begin saving for retirement, and others you glean along the way....
Get an Online Life Insurance Quote NowBuilding wealth requires protection from the forces of wealth destruction. When you are planning for your future, what do you think about? You may think about your retirement, enjoying having the time and money to take...
Is your investment strategy as socially and environmentally conscious as you are? It's not uncommon – Many a well-educated, socially conscious, environmentally friendly investor winds up buying shares of companies whose beliefs and business practices are far removed from their own. Why?...
Ready to grow your business? Apply for a Business Loan today.Small businesses embody the American dream. They symbolize financial and social success through hard work, determination and good old know-how. They help entrepreneurs accomplish their dreams in a way that benefits not only them...
Financial Advice and the Need For Long Term Care Insurance
How much might health care cost you someday? "Financially speaking, what would be the worst thing that could happen to you?" If you ask a hundred people in their forties that question, you may get...
Looking for Guaranteed Lifetime Income? Get an Annuity QuoteThat truth must always be recognized. When financial markets have a bad day, week, or month, discomforting headlines and data can swiftly communicate a message to retirees and retirement savers alike: equity investments are risky things,...
The SECURE Act brings the most sweeping changes to the U.S. retirement system in a decade. Because of that, there is bound to be some confusion about what the act actually does and how it...
If you have money in a savings account, and you are paying off credit cards or borrowing money for any reason, learn how you can convert your debts into a lifetime of tax...
Over 50% of Canadians¹ and nearly 60% of Americans² report that they don’t have savings to turn to in the event of an emergency.If something unexpected were to happen, do you have enough savings to get you and your family through it and back...
Do you dread grabbing the mail every day?Bills, bills, mortgage payment, another bill, maybe some coupons for things you never buy, and of course, more bills.
There seems to be an endless stream of envelopes from companies all demanding payment for their products and services....
Have you ever wondered how someone could actually retire? The main difference between a strictly unemployed person and a retiree: A retiree has replaced their income somehow. This can be done in a variety of ways including (but not limited to):
A teacher walked into her classroom with a clear jar, a bag of rocks, a bucket of sand, and a glass of water. She placed all the large rocks carefully into the jar.
“Who thinks this jar is full?” she asked. Almost half of...
It’s paradoxical how owning a home might make you feel more secure. But it may also be a constant source of worry, particularly if you still have a hefty mortgage payment each month. For some, having a mortgage is simply a part of life. But for others, it...
Buying life insurance on the open market when you have had health problems can be a challenge, and it can be expensive, too. But it is not impossible. When buying life insurance, you may have to complete a written and/or verbal medical questionnaire and complete a health...
A successful family business is a cornerstone of many families' wealth. But passing the business along to the next generation takes substantial planning and preparation. A recent Pricewaterhouse Coopers report found that while just over half of the family-owned business executives wanted to pass...
In August 2016, more than 40,000 homes were damaged by devastating floods in Louisiana, and a majority of the homeowners didn’t have flood insurance. According to FEMA, which oversees the National Flood Insurance program, only 42% of homes in Louisiana’s high-risk...
Is your business experiencing growth? While this is good news for the entrepreneur, it also comes with challenges. As your business grows, it undergoes changes and encounters new needs. As you adjust your revenue projections, expand your market, and invest for continued growth,...
Most people plan out their financial lives assuming a retirement around age 65, and maybe 70 in some professions. And given good health, that's a reasonable assumption. But it's also often a bad one. According to a new survey from Prudential Life Insurance,...
The abundance of investment options that are available to us as we plan for a financially secure retirement can be daunting. Some retirees take too much risk. Others do not. Here we look at the biggest mistakes retirees make, and how you can...
Life will often seem to present signals about financial moves to make. Starting your first job babysitting or mowing lawns? Probably a good idea to begin saving some of those earnings. Need to pay for college? You’ll want to apply...
At least one life insurance company is beginning to offer customers financial incentives for working to stay healthy, and others may follow suit. Under this program, customers can reduce their annual life insurance premiums by as much as 15% if they...
One of the chief criticisms of annuities is their relative lack of liquidity. This is true in some respects. Annuity owners give up complete liquidity in exchange for other benefits, including insurer guarantees for lifetime income, guaranteed growth, or protection from downside risk.
Many of us understand the need for protection against the financial consequences of unexpected illness and death. But what about the financial impacts of living a long life? Americans are living longer into retirement than ever before. That means retirement savings need to last...
How You Can Use Indexed Universal life For Your Child and Retirement. Life insurance with living benefits is what the industry refers to as the “new type of life insurance”. New life insurance offers living benefits and old life insurance doesn’t. Simply stated,...
A volatile stock market is fine for the 20 - and 30 - somethings. It's a different matter for people approaching retirement. Your retirement nest egg should be a source of security and comfort to you. It shouldn't be something that makes your blood...
As another year passes by, more people join the ranks of retirees. Since 2011, roughly 10,000 baby boomers have turned 65 years old each day, according to Pew Research. It predicts that trend to go on until 2029.
A way for businesses – especially niche businesses – to address a major risk. Who are the people most crucial to your business? Have you taken steps to insure them? At every company, there are certain people whose absence would cause day-to-day...
Annuities are valuable tools, when used correctly. No other Financial product on the market can provide the kinds of guarantees on income that an annuity does. But it's vital to understand the tax treatment of annuities as well. Here are some of the most...
The new year is best known for resolutions. The trouble is that many new year’s resolutions don’t survive past the first month or so. Why is that? You might suspect it’s because we set unrealistic goals or lack the proper motivation. If you’ve...
It's happened. After a nearly unanimous passage in the U.S. House of Representatives, the SECURE Act (Setting Up Every Community for Retirement Enhancement Act) has become law. The legislation was “attached” to a bipartisan spending bill with the goal of avoiding another government...
It’s no secret that we can’t depend on Social Security or pensions alone to provide the income necessary to live out our golden years of retirement. Today’s retirees are more active and enjoying longer lives than ever before.
Are you certain your current retirement plan will...
Private mortgage insurance (PMI) is a type of insurance you may be required to pay for when you take out a conventional home loan. If you’re buying a home, lenders require PMI as part of a conventional loan to protect them in case you end up in...
The two most primary concerns in retirement planning today for most individuals are stock market volatility and taxation—and IUL can help assist you in overcoming both.
Stock market downturns in recent years have sparked real concern about the negative impact future volatility could have on retirement assets....
Having life insurance is an important decision, especially for those with dependents relying on their income. However, you may wonder what type of life insurance is right for you. Whole life insurance is just one of many insurance options to consider....
Term life insurance gives coverage for temporary needs. It is considered to be the most straightforward form of life insurance. In a term policy, an insurance carrier promises to give coverage in exchange for a fixed rate of payments...
On October 10, the Social Security Administration officially released the amount of their cost-of-living adjustment for 2020. Almost 70 million Americans will see their Social Security benefits rise by 1.6% next year.
While this raise is less than the 2.8% cost-of-living-adjustment for 2019,...
Are you thinking about getting a life insurance policy? There are many options available. If you’re wondering which path is the right one, here are life insurance basics which can help you get started.
One big concern when designing an estate plan is taxes. After all, it’s the means by which you transfer wealth to inheritors. The act of giving away your property may be subject to taxes on the state or federal level, or even both.
Nobel prize winner William Sharpe calls it the “nastiest, hardest problem in finance.” What is that? Decumulation, or the process of building a dependable lifelong income stream from your retirement savings.
It’s no wonder millions of Americans are asking if they will have...
The term versus permanent life insurance debate has lingered for years. It is a long-standing question, but it need not be “either-or.” Neither type of coverage is universally superior to the other. Both options have appropriate uses, depending on the needs...
Small business owners are usually a jack-of-all-trades when starting out. Without a budget for staffing or outside help, busy entrepreneurs often work day and night to establish and grow their business. Here are some areas where business owners should consider concentrating their...
The “D” word – debt! It strikes fear into the heart of most consumers and business owners. However, there are valid reasons taking on debt can help your small business grow.
The Wall Street Journal recently posted an article about the benefits...
Today, Americans bear more financial responsibility for their retirement than ever.
The days of receiving monthly pension checks are gradually fading. According to Willis Towers Watson, only 16% of Fortune 500 companies were offering pensions to new hires in 2017, down from 59%...
When a football team gets the ball inside the opposing team’s 20-yard line, they are considered to be in the “red zone." There it's more likely that they will score.
If you are within ten years of retirement (either before or after),...
It's here. The IRS has posted the new income and contribution limits for all types of retirement plans and accounts for 2020. The IRS also covered income and contribution limits for different medical savings accounts.
Several factors come into play when you plan for your retirement. Your age, longevity, and the returns that you will earn from your retirement portfolio are just a few. In some form or fashion, all of those can play into your target retirement...
Ah, the holidays… an annual time of food, fellowship, and fun with family, friends, and loved ones. Everyone returns home and catches up on all of the family happenings over the past year.
But the holidays can also be stressful and fast-paced,...
As the end of the year approaches, now is an excellent time for you to schedule a meeting with your financial advisor. An annual review of your financial situation is an ideal reason to come together.
Retirement planning is, in many ways, a guessing game. You can’t be sure of exactly how long you will live. How much income you will need might not be clear. And you don’t know if you will need long-term care support.
Uncle Sam can be one of your key partners in your retirement saving. If you have money in a traditional IRA or an employer-sponsored retirement plan, then that money automatically receives tax-deferred status in the eyes of the IRS. Other accounts like SIMPLE...
People are living longer than before, leading many to ask: “How long could my retirement really last?” In generations past, retirement represented a relatively short period of time in most peoples' lives. They would work until they were 60 or 65 and then...
Calculating how much income you will need for retirement isn’t necessarily an easy task. Your health expenses will probably increase, but your mortgage payments may decrease or stop. Meanwhile, other expenses might continue to change over time.
When you determine how much income you'll need in retirement, you may base your projection on the type of lifestyle you plan to have and when you want to retire. However, as you grow closer to retirement, you may discover that your...
When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend. If you don't consider how your retirement income can be impacted by investment...
As you gear up for retirement, you may have heard of “safe money solutions.” Are they right for you? It’s an important question, especially since retirement planning is more difficult than it's ever been in history.
Insurance is an important part of being a homeowner. Not only does it protect you from damages caused by things like fire and vandalism, but it can also protect your personal property or additional structures like garages, and provide liability coverage.