When it comes to financial planning, understanding the difference between liquid and non-liquid assets is crucial. While liquid assets can be easily converted to cash, non-liquid assets require more time and effort to sell or convert. This distinction plays a significant role in determining your financial flexibility and preparedness for unexpected events. In this article, … Read more
At some point, every investor must answer one of the most crucial questions: “How much do you need to retire?” A BLS report states that the average annual income in the US for people 65 to 74 years old was $59,872, and for people 75 years of age and above, it was $43,217. Chuck Czajka, … Read more
It’s crucial to decide when to begin receiving Social Security retirement benefits. Since no two people have the same goals, finances, or lifestyle, there isn’t a single option that suits everyone. Would it be better to begin receiving retirement benefits right away or to hold off until you could receive a larger benefit amount? You … Read more
Generally speaking, a retirement plan document’s provisions specify the options for beneficiaries to distribute their assets. Benefits upon death from a pension vary based on the type of pension you have. Navigating the complexities of pension inheritance can be overwhelming, especially when dealing with the loss of a loved one. This guide aims to provide … Read more
Yes, Social Security recipients will receive a 5.9% increase in their benefits in 2022. This increase is due to the rise in the cost of living, as measured by the Consumer Price Index (CPI-W). The CPI-W is a measure of the average change in prices paid by urban wage earners and clerical workers for a … Read more
Annuities are a clear choice if you’re looking for guaranteed income in retirement. The issue is that, although this product can give you a guaranteed income stream, managing your retirement portfolio on your own is far less expensive than using this strategy. To assist you in determining whether an annuity makes sense for your retirement, … Read more
There are various types of annuities, but the two most popular ones are variable and fixed annuities. Variable annuities are far riskier than fixed annuities during a recession because their performance is dependent on market indexes, which are notoriously volatile during recessions. The Securities and Exchange Commission (SEC) has registered variable annuities as securities, and … Read more
Though superannuation was first intended to be a means of saving money for retirement, many people are curious as to whether they can use it to assist in the purchase of real estate. Investing in property can be a great way to build wealth and secure your financial future. But what if you don’t have … Read more
Social Security rules are complicated and change often. For the most recent “Ask Larry” columns, check out maximizemysocialsecurity. com/ask-larry. Prior to responding to this week’s queries, let me draw your attention to a fantastic new piece that top personal finance writer in the country Phil Moeller is currently penning on Medicare for Paul Solman’s Making … Read more
Almost everyone over the age of 18 who works in Canada outside of Quebec and makes more than the minimum annual salary of $3,500 is required to contribute to the Canada Pension Plan (CPP), with very few exceptions. If you have a job, your employer will cover the remaining half of the required contributions after … Read more