Early Lump Sum or Monthly Pension? Three Questions to Ask

June 2015

Most Americans today are not blessed with having a pension from their employer, but if you are one of the lucky ones, you have many more questions and scenarios you need to think about before electing your benefit.  Especially today, many of the companies who offered pensions in the past are now trying to reduce their risk and offer their current and past employees a lump sum payment now vs. waiting to take their monthly benefit.  While this could be a great benefit, it also means you need to start asking yourself some important questions sooner than you anticipated.

Here are 3 key questions I discuss with my clients before we make the “early lump sum or monthly pension?” decision together.


The Changing Role of “Dad”

June 2015

In 1972, President Richard Nixon signed into law a permanent U.S. Father’s Day to be observed on the third Sunday of June. This was a full 50 years after the establishment of Mother’s Day, which is just one example in the parenting paradigm where Dads don’t get their due credit.

Poor Dad isn’t showered with the gifts and goodies Mom reels in on her holiday, the third Sunday of May. The “gift gap” between the sexes was about $7 billion in 2014, according to the National Retail Federation, and only 64% of consumers planned to even get Dad a card compared to 81% buying cards for Mom. Why do we discount Dads?


Communicating to Kids about Money – At Any Age

June 2015

When my daughter was very young she had a bank with three separate compartments: one compartment looked like a bank and it was designed as a place for long-term saving; another was shaped like a store and was meant to be a place to pull money out for things she wanted to buy; and the third section resembled a church and was designed for money that she would give away to others. I loved that bank and the simple concept that it taught.


Do You Need Life Insurance?

June 2015

Everyone loves buying life insurance! Wrong. We hate it. We view it as an expense each month. It is annoying. We have to die for anyone to see that money. However, life insurance can be an important part of preparing for future financial security and we can’t afford to overlook it. In the event of a death, it can provide the safety needed for those left behind. Without it, loved ones are often left to struggle with the funeral costs and financial obligations that must be fulfilled.


A Quick Refresher on the Different Types of Life Insurance

Death is one of the only truly certain parts of life, and while it might seem depressing it still has to be planned for. After all if you’re not around to care for your family and loved ones then who’s going to do it? Life insurance is the most common way to provide for those you leave behind, but it’s important to know all the types of life insurance available and the differences between the options before you just pick one.

Fortunately breaking down the differences is a fairly simple thing to do.


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