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Disposable Income

Disposable Income

What is ‘Disposable Income’ Disposable income, also known as disposable personal income (DPI), is the amount of money that households have available for spending and saving after income taxes have been accounted for. Disposable personal income is often...
Organize Your Financial Documents with These 10 Helpful Categories

Organize Your Financial Documents with These 10 Helpful Categories

Save time, Save money, Save headaches! Can you quickly locate last year’s income tax return? Do you have the contents of your wallet and your account information recorded somewhere in case it is stolen? Can you find your homeowners insurance policy? If you can’t...
Organize Your Financial Documents with These 10 Helpful Categories

Your Annual Financial Planning Checklist

If you’ve taken on the task of mapping out your annual financial plan, you deserve a pat on the back. Ensuring that you’ve covered all the bases is important to both your short- and long-term financial health. Keeping track of your progress with an annual financial...
Long-Term Care Insurance: Who Needs It?

Long-Term Care Insurance: Who Needs It?

Most of us will buy health insurance and insurance for home, car and other property replacement. However, few people think to buy long-term care insurance, and assume that their savings will be sufficient to meet any associated expenses. In fact, long-term care can be...
Medigap Vs. Medicare Advantage: Which Is Better?

Medigap Vs. Medicare Advantage: Which Is Better?

Like any massive insurance enterprise, Medicare is confusing. Medicare.gov will give you hundreds of pages of explanation, but luckily, the basics of the program aren’t difficult to grasp. As the cliché goes, however, the devil is in the details. Medicare has four...
A closer look at Accelerated Benefit Riders

A closer look at Accelerated Benefit Riders

Life insurance policies that include accelerated benefit riders provide several types of protection to policyholders in one vehicle. These policies can now offer protection against chronic illness, critical illness and nursing home care on top of the traditional death...
How a Fixed Annuity Works After Retirement

How a Fixed Annuity Works After Retirement

U.S. annuity sales reached an astonishing $229.4 billion in 2014, a 3.8% increase from the previous year, according to the Insured Retirement Institute (IRI). These investments are skyrocketing in popularity with risk-averse investors who are looking to receive a...
Legacy Planning

Legacy Planning

DEFINITION of ‘Legacy Planning’ Legacy planning is a financial strategy that prepares a person to bequeath his or her assets to a loved one or next of kin after death. These affairs are usually planned and organized by a financial advisor. BREAKING DOWN...
How to Create a Personal Cash Flow Statement

How to Create a Personal Cash Flow Statement

There are many ways to measure your financial health. The measurement that probably gets the most attention from personal finance books and news outlets is the personal balance sheet, or net worth statement. Knowing your net worth can be important, but keep in mind...
Retirement Planning

Retirement Planning

DEFINITION of ‘Retirement Planning’ Retirement planning is the process of determining retirement income goals and the actions and decisions necessary to achieve those goals. Retirement planning includes identifying sources of income, estimating expenses,...
How does a Roth IRA grow over time?

How does a Roth IRA grow over time?

Your Roth IRA account grows over time thanks to two funding sources: contributions and earnings. While your contributions to your individual retirement account, or IRA, are the most obvious source of growth, the potential for your savings to earn interest and the...
How does a Roth IRA grow over time?

Indexed Universal Life: Cash, Flexibility and Safety

What if you could get the flexibility of adjustable premiums and face value, and an opportunity to increase cash value; would you go for it? What if you could get this without the inherent downside risk of investing in the equities market? It’s your lucky day:...
What is the Maximum Possible Social Security Benefit in 2017?

What is the Maximum Possible Social Security Benefit in 2017?

Here’s what you need to do to get a benefit of $3,000 per month. You will need to maintain a high income throughout your career in order to qualify for large Social Security payments in retirement. The average monthly Social Security payment for retirees was $1,360 in...
What is the Maximum Possible Social Security Benefit in 2017?

Social Security Changes Coming in 2018

The average Social Security check will increase by $27 per month next year. People who will turn 62 in 2018 will need to wait until an older retirement age to claim their full retirement benefit than existing Social Security beneficiaries. Social Security...