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Life Foundation
The Life Foundation is a not for profit organization that provides consumers information on all available
types of insurance. It is an excellent public resource. Obviously, everyone is concerned about the stability of
our financial institutions. The Life Foundation has a review on the status of the insurance industry... a very timely
and well researched piece. We meet an awful lot of people who simply tell us they want
a quote on "100,000," '500,000," or even "2,000,000" of insurance. Yet, they might not
even understand the types of life insurance available or the difference between term (temporary) insurance or whole life and
universal life (permanent insurance). They can learn the differences, their strenghts and weaknesses, and how each may
best serve their needs at this website. We particularly like it for it's calculators. It is
just as important knowing what your life insurance is designed to cover. These calculators really help, and they have
them for life insurance, disability insurance and long-term care insurance. This is simply a fantastic source
of informaton
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Social Security Administration Retirement Planner
This planner provides detailed information about your Social Security retirement benefits under
current law and points out things you may want to consider as you prepare for the future. You can find your retirement
age and estimate you social security income(SSI) benefit. We meet a lot of retired people who count on us to tell them
about what happens if they want to work while receiving their SSI; or, how their pension earnings might affect their
SSI. It is all here. At this site, you can find instructions on how to apply for your benefits,
learn what supporting documents you will need, and start your application on-line.
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"Taking the Mystery Our of Retirement Planning" (U.S. Department of Labor)
This is actually a Department of Labor publication that you can download, and it is only 21 pages long.
While it recognizes that the under 50 population exists, and they address the issue, then close it by saying "It's
not going to be your parents' retirement - rewarded at 65 with a gold watch, a guaranteed pension, and health insurance
for life. For many Americans, retiring in this new century is a mystery. Earlier generations of workers could rely on employer-provided
pensions, but now many workers will need to rely on their own work-related and personal savings plus Social Security benefits.
These savings have to last longer because Americans are living longer, often into their eighties and nineties."
This is just a repeat of what should be obvious by now. On the other hand, it does provide a solid source
of information for those baby-boomers in their 50s and 60s as to what they should be doing financially at different time horizons.
We especially like some of their budget worksheets for those approaching retirement; or, as we call it, the Distribution Phase
of Retirement. These worksheets primarily focus of helping you get a handle on your fixed expenses during retirement.
And, we have some excellent planning ideas on how you can guarantee income for these fixed expenses. Blog us for more
information!
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