Retirement – Crump Blog

Life insurance can offer more than a death benefit

30 Aug

Black and white photo of a woman sitting on a couch along longingly looking out a window

Guest contributor Carma McCallie, JD, is vice president, advanced markets, with Crump Life Insurance Services.

Life insurance can address a multitude of life concerns. The death benefit is especially helpful in providing a replacement for lost income to the insured’s family, covering estate settlement costs, including estate taxes or providing liquidity for business buyouts. But specific policies offer more than just the death benefit. Permanent policies can provide for an accumulation of cash value, and that cash can often be used for the insured’s lifetime needs, including supplemental retirement income. More>>

Getting over the fear of spending down in retirement

7 Aug

Today more people are living longer — and the likelihood of living even longer increases for those who make it to retirement age. Leading up to (and after) retiring, it’s important to carefully think about what you need to do to make it a success. More>>

CDs or Fixed Annuities: Which is a better way to save for retirement?

31 Jul

Dressed up elderly couple sitting on a park bench looking happy.

No one wants to run out of money in retirement. You’ll need to plan ahead if you’re hoping to have enough savings to live off into your 70s, 80s and even 90s. More>>

5 advantages of combining annuities and life insurance for retirement

17 Jul

Happy middle age couple holding yoga mats.

Preparing for your retirement needs careful planning to ensure you get the right benefits after years of hard work. Combining annuities and life insurance can be one way to achieve a comprehensive plan that sets you on the right track for a relaxing retirement.

You can use both annuities and life insurance as part of your retirement strategy. This approach delivers several benefits, depending on your specific financial situation. More>>

3 techniques to help retirees spend more (yes, more!)

5 Jul

Many working Americans live by a simple financial mantra that says saving is good and spending is bad. In the real world, things are more complicated, especially for those who have accumulated substantial wealth. Advisors can deliver a lot of value to retiring clients by easing their fears about spending.

Jamie Hopkins, managing partner of wealth solutions for Carson Group, says there are many ways for advisors to help their clients feel comfortable spending. Still, there are three methods in particular that he has found to be the most powerful. More>>

What long term care insurance is (and why you might want to consider it now)

3 Jul

The standard approach to saving for retirement tends to be acquiring a large pot of money which you then invest (ideally in a tax-advantaged retirement account). What many retirees (or those soon to retire) soon realize is that the same pot of money that you use for food, vacations, and property tax after leaving the workforce will also have to fund the cost of long-term care in your later years, should you need it. More>>

Annuity 101

12 Jun

People are living longer and healthier lives, with retirement looking less like a slowdown than a new chapter in life. Changing how retirement looks and how long it lasts also means exploring how you can make your savings and income from varied sources last as long as you do. That’s where annuities come in. They can help you create a guaranteed income stream you won’t outlive. More>>

New LIMRA Research Reveals Women Working with a Financial Professional Are More Confident and Prepared for Retirement

5 Apr

Woman working with a financial professional — Over the past decade, women have said their top financial concern is having enough money for a comfortable retirement. New LIMRA research suggests that those working with a financial professional are more likely than unadvised women to feel very prepared for retirement.

According to LIMRA’s new study, Impact of Financial Professionals on Retirement Security, 40% of women who work with a financial professional report that they feel very prepared for retirement, compared with just 27% of women who don’t work with one. More>>

9 Smart Ways to Spend Your Tax Refund

4 Apr

Receiving a large tax refund can feel like you won the lottery. For many of us, it’s the biggest paycheck we receive all year. That’s a lot of “extra” money at our disposal.

Remember, however, that the money you got back was yours all along. You just gave Uncle Sam a year-long loan, and he didn’t have to pay any interest. Not a bad deal for him.

While you shouldn’t necessarily aim to get a large tax refund every year, here are some ideas on using Uncle Sam’s windfall. More>>

9 tips for creating a home that is safe for aging in place

27 Feb

It’s never too early to start thinking about how your home can adapt to meet your changing needs over time, as well as what modifications might be required to make it safer, easier to use, and more accessible, says Melissa Birdsong, an interior designer and the board chairwoman of Raleigh Village East, a nonprofit organization focused on helping people age in place.

“Plan it, do it, and enjoy the benefits of a home that is easier to use now,” says Birdsong, 73. “And remember that you can make these changes and still maintain the style of your home. A safe home will increase its value and be more comfortable and more accessible for you, for other seniors who visit you, and for family members of all ages.” More>>