I’m trying to model the proceeds from a universal life policy at a future date to fund my retirement goal in the cash flow based planning module. Do I still need to setup an account and use it to fund the retirement? If that’s the case, how do I fund this account in future. Has anyone faced this situation? I tend to think it’s not uncommon.
I have an interesting Social Security situation. The wife (who is currently 64) has a $1,000 monthly income from her government pension, she is subject to the WEP. Can the wife start taking her own PIA now (net of WEP), and later switch to taking 50% of her husband’s when she reaches 66? Since she is subject to the WEP adjustment, can she still take the greater of 100% of her own PIA or 50% of her husband’s?
I have a client ( a couple, age 59 and 63). They both are eligible for government pension. They both have also contributed into the Social Security system. The report that’s coming out of the tool shows zero spousal benefits. Why?
According to a recent Legg Mason survey people spend 475 hours or more worrying about money each year. That’s nearly 25% of about 2,000 hours that a typical employee works per year. That’s a huge productivity loss for employers. Perhaps the key to address this issue is an effective financial education.
FY 2015 Budget estimate for the Centers for
Medicare & Medicaid Services (CMS) is $897.3 billion
in mandatory and discretionary outlays, a net increase
of $54.3 billion above the FY 2014 level. That’s nearly 25% of total US budget. Is it sustainable?
According to Investment Company Institute, Total U.S. retirement assets were $24.7 trillion as of December 31, 2014, up 1.7 percent from $24.2 trillion on September 30, 2014, and up 6.0 percent from year-end 2013. Retirement assets accounted for 36 percent of all household financial assets in the United States at the end of the fourth quarter of 2014. Out of the total $24.7 Trillion, about $14 Trillion is in Defined Contribution (401k, 403b, ….) and IRA assets.
Is this a big number? Heck, yes.
How about when you divide it by a couple of hundred million?
On March 12, 2015, Financial Advisor IQ, a service of Financial Times published an article on the importance of retiree healthcare expense planning. In this article, author Murray Coleman also interviewed an advisor who uses OMYEN’s Retiree Healthcare Planner™. Read the article at http://www.financialadvisoriq.com/c/1080833/113493
Financial advisers can easily estimate their clients’ overall healthcare expenses for Free and offer effective retirement income solutions.
Financial planning technology leader OMYEN Corp. is making its recently upgraded Retiree Healthcare Planner™ software FREE for all financial advisers. Financial advisers use this software to estimate clients’ lifetime healthcare expenses based on location and high-level input on lifestyle, health history, and preferences on type of healthcare. This will help advisers tackle the single largest retirement expense item for most clients…
Read the full press release at
In this article, Mary Beth Franklin of InvestmentNews underscores the importance of planning for health care expenses for clients and how a tool e.g. OMYEN’s Retiree Healthcare Planner™ can help advisers produce valuable retirement income plans. Read the story below.
Hi, my client and his spouse are of similar age, currently 65. Client has PIA of about $2,500 whereas his spouse has PIA on her own record around $800. I’m wondering if the wife can start taking reduced benefits now (before FRA) and later switch to spousal when husband reaches his FRA and opts for file and suspend.