The importance of retirement planning cannot be overstated, and it should be your foremost financial goal. According to statistics, over 90% of people will outlive their retirement savings, and you need to ensure you aren’t one of them. If done correctly, your retirement plan can provide you with financial security, comfort and independence in your golden years. On the flip side of the coin, though, making any of the common retirement income planning mistakes can lead to being dependent on adult children or relatives, and watching every penny. You have…

Think you’ve got the best life insurance policy around? Think again!

The basic reason why people get insurance is because it’s a great way to financially secure your future and prevent any untoward incident from completely depleting your savings. It can help to provide long-term care during old age, or a supplemental source of income after retirement. Moreover, if you are quite the spendthrift, then an insurance plan helps you save money too. Having insurance is mandatory for any good financial planning. However, there are a number of…

Long-term care insurance has changed over the last ten years and a lot of carriers see it may have an uncertain future. Most carriers are experimenting with different products and some are making an allegiance to one program. They are laboring on how to identify new buyers and concerned with reducing risk. Some carriers are seeking ways to collaborate with government and develop public/private insurance. Long-term care services refer to the personal and healthcare facilities as well as support provided to people who need it for an extended period…

Most of the time, the knowledge that something can go wrong also plays a huge role in the financial planning process. There’s no shortage of threats to your finances, ranging from obvious ones like medical emergencies to completely unforeseen ones like a stock market crash.

Despite the existence of so many uncertainties and risks, a large section of the population does not have a financial plan, life insurance or any other form of protection at all!

So, What Should You Be Prepared Against?

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Retirement planning is seeing a paradigm shift in recent times, with states taking on the onus of ensuring that residents have a retirement fund in place. This is primarily because state exchequers face a huge drain on resources when workers with no savings reach retirement and keep needing services like Medicaid or food assistance.

How Can You Make the Most of the “New” Retirement Planning Paradigm?

Here are a few innovative options that you should consider, if you want to explore the benefits of…