Retirement Planning

Making the Most of Your Survivorship Benefits

Pension Maximization, in short, is defined as making the most of your survivorship benefits – it enables you to take your full pension benefits at retirement while using a life insurance policy to replace the lost benefits to your spouse should you pass away first.  When implemented properly, a Pension Max strategy can save money, provide flexibility and give you control of your survivorship benefits. Traditionally, if you are married and eligible to receive a pension from your company you will have to decide from one of the two options: Single-Life Option: Take your full pension benefits at retirement, leaving… Read more

What do you want to be when you grow up?

It’s a question you’ve heard since you were a child, but one that’s still relevant today. What do you want to do when your work life ends and retirement begins? Maybe you want to be a world traveler or an avid golfer. Perhaps you want to take up a new hobby or spend more time with the grandkids. Northwestern Mutual surveyed more than 1,500 people for the company’s Planning and Progress 2013 study. Only 44% said they’re financially prepared to live to the age of 85. More than 4 in 10 Americans expect to work at least to the age… Read more

What if you could offer your employees a retirement plan at no cost to you?

As a small business owner you have a lot to worry about. Employee loyalty and retention is a big one. Contrary to the current belief that the importance of company retirement plans have decreased in an employee’s financial planning, an employee retirement plan is the most coveted benefit right after health insurance by US workers. However, according to data from the Small Business Administration almost three-quarters of small business employers today do not offer retirement plans for their employees. Qualified retirement plans, deferred compensation plans and individual retirement accounts are all different, including the fees to manage and maintain. At… Read more