Month: December 2020

Group Life for a Growing Business

Dec 14, 2020

As companies grow and add employees, they also add employee benefits. Retirement and medical plans can be provided, but what about group life insurance?

Group life on the menu? Owner-operators know that group life coverage can help attract excellent workers, but some are anxious about the cost and suspect they are just “small fish” to insurers. In reality, coverage may be very affordable and include a variety of policy choices. (more…)

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Retirement Blind Spots

Dec 9, 2020

We all have our “blue sky” visions of the way retirement should be, yet our futures may unfold in ways we do not predict. So, as you think about your “second act,” you may want to consider some life and financial factors that can suddenly arise. Nobody likes having retirement blind spots

You may end up retiring earlier than you expect. If you leave the workforce at “full” retirement age (FRA), which is 67 for those born in 1960 and later, you may be eligible to claim “full” Social Security benefits. Working until 67 may be worthwhile because it will reduce your monthly Social Security benefits if you claim them between age 62 and your FRA.1 (more…)

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Cash Balance Plans

Dec 4, 2020

In corporate America, pension plans may be fading away. Only 14% of Fortune 500 companies offered them to full-time employees in 2019. In contrast, legal, medical, accounting, and engineering firms are keeping the spirit of the traditional pension plan alive by adopting cash balance plans.1 (more…)

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Do Main Street Self-Employed Individuals Need a Wall Street Strategy?

Dec 2, 2020

As Wall Street pushes higher, a pandemic-weary Main Street is relearning how to manage cash flow with the hope of keeping its retirement dreams alive – and for those self-employed, this is paramount.

Self-employed Americans, and the people working for them, account for roughly 30 percent of the nation’s workforce.1

In the best of times, putting aside money for retirement was a challenge for this group. (more…)

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