Tag: guaranteed income

Retirement is what many people look forward to with fondness – a time full of relaxation. But retirees must insure that they have sufficient funds to enjoy that period of their life.

Michael Leichner, financial adviser at Leichner Financial Group in Pepper Pike, and Stephen Rudolph, president of HW Financial Advisors in Beachwood, said proper planning should be done when someone wants to retire.

“There are two stages to retirement planning, the accumulation stage and the distribution stage,” Leichner said. “Retirement distribution planning goals can be more easily achieved when they are addressed and reflected in your accumulation plan. So logically, […]

Full Post at www.clevelandjewishnews.com

Hundreds of thousands of people face poor value pensions and high tax bills as a result of accessing their pensions early, the City watchdog has warned.

A report from the Financial Conduct Authority found flaws with the new "pension freedoms" being used by those over the age of 55 to take their pension cash early.

Since April 2015 over-55s with a "defined contribution" pension have been able to take their pensions as cash in one, or several, lump sums. Previously, almost everyone simply bought an annuity, a contract that pays a guaranteed income for life.More than a million people have taken […]

Full Post at www.telegraph.co.uk

Retirement used to be simple. My uncle Dan, for example, spent his entire career with one employer. He retired at 65 with a pension that provided a guaranteed monthly cheque for life. It was a typical retirement for his generation. They tended not to save much for retirement because they didn’t have to. Unfortunately, those top-drawer defined-benefit pension plans are becoming increasingly rare. Fewer than 40 per cent of us have employer pensions of any kind and many of those that exist are the far less generous defined-contribution plans. If you have a defined-benefit plan (lucky you) and remain […]

Full Post at retirehappy.ca

B-52’s, with Kate Pierson, right. Thankfully, when it comes to the Pacific Symphony, we can finally talk about the music. It was touch and go for a while though. As recently as September, the labor disputes over musicians’ contracts at the Pacific Symphony were ongoing, Gabriel San Roman writing that a lack of guaranteed income for the performing musicians was the stumbling block.

"Over the years, our own performances have helped grow the orchestra to where it is right now," Adam Neeley, a violinist and Chair of the Musicians’ Bargaining Committee, told us at the time. "What we are asking […]

Full Post at www.ocweekly.com

Retirees could be overpaying tax, missing out on investment growth or losing other valuable pension benefits by taking all of their money out of their pension and moving it to a savings account, while others are potentially getting a poor pension deal by not shopping around, a new review of the retirement market has found.

The Financial Conduct Authority (FCA) has carried out the most in-depth study of the pension freedoms to date. The pension freedoms were introduced in April 2015, giving pension savers the option to take all of their money out of their pension pot in one […]

Full Post at www.which.co.uk

A review of the newly liberalised pensions market has highlighted a number of concerns, including money being withdrawn from pensions and moved into savings due to a ‘lack of trust’. A year-long review of the retirement income market post pension freedoms by the Financial Conduct Authority (FCA), has identified a ‘number of shortcomings’ in the system.

It found that accessing pension pots early has become ‘the new norm’ with 72% of pots accessed by those aged under 65. Most of these people are choosing to take lump sums rather than a regular income.

The FCA found that 53% of pots accessed […]

Full Post at www.yourmoney.com

Shootsta co-founders Mike Pritchett and Tim Moylan For many startups, raising capital is a key step to expanding operations overseas. Not so for Sydney-based video tech startup Shootsta, which has recently launched offices in Singapore, and slated January 2018 launches for an expansion to the US and UK, all without extra investment.

Since launching in 2015, Shootsta’s subscription-based model has been successful enough to fund these expansions, and staff numbers have quadrupled from 8 to 32 in the past year.

Building off the back of $1 million in seed funding last year from ASX-listed Adcorp, Shootsta built out their video creation […]

Full Post at www.smartcompany.com.au

Even as the stock market booms, many American cities are watching their financial situations deteriorate as they struggle to cover explosive pension obligations for retired civil servants. Chicago is in dire straits, with analysts weighing the possibility of bankruptcy for the public school system. Meanwhile, in Hartford, Connecticut—another major city in a wealthy blue state—there are also rumblings of Chapter Nine. Bloomberg reports : Like many other local governments across the country, Hartford — city of Mark Twain and the young John Pierpont Morgan — has been grappling with budget problems for years. On the same day that Illinois […]

Full Post at www.the-american-interest.com