Safe Harbor Associates, LLC

08/21/2020

The ongoing pandemic is causing people to worry, “whether they are approaching their retirement age or just starting out in their career – anxious about their finances, and retirement plans. This is the reason why more and more people are increasingly considering lifetime income products that are less vulnerable to factors like market volatility, retirement longevity, and challenges created by cognitive decline in order to secure their retirement income.” If you are worried and would like to learn more about these types of products, call us. We’re always here to help.

Given the current economic scenario in the backdrop of the ongoing public health crises globally, investing your hard-earned money in a suitable Annuity Product may be the answer to your queries.

08/14/2020

This week’s article points out that “Social Security payments are one of the biggest assets that most people have,” and “how you handle that income has an important impact on an overall plan.” A “critical move” that is highlighted is not only to know your full retirement age and to weigh the advantages of delaying your Social Security benefits, but to “coordinate the timing of benefit claims with your spouse.” A law “phases out a strategy known as restricting an application for spousal benefits, which could boost a couple’s total payout by tens of thousands of dollars.” Call us if you have made your critical moves and still need options for income that you can’t outlive. We’re always here to help.

Know your full retirement age, coordinate the timing of benefit claims with your spouse, and weigh the advantages of delaying your Social Security benefits.

08/04/2020

This week’s article reminds us “silver is the new green”, and that “around the world, people are living longer as birth rates decline.” Because of this, it isn’t just public policymakers and the private business sector that must reevaluate their long-term strategies. As Seniors, we are reminded a “changing landscape offers significant rewards for those with the foresight to adapt.” Call us. It pays to think ahead, and we’re always here to help you do that.

https://globalcoalitiononaging.com/?id=financial-planning-security

07/29/2020

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07/29/2020

This week’s article reminds us that pre-retirees can “diversify their portfolio in a way that distributes risk and prepares their retirement savings for growth in a variety of economic environments. It’s even possible to build in some principal protection with the inclusion of Fixed Indexed Annuities (FIAs). FIAs are insurance products that can guarantee income to contract holders over a period of time — even over a lifetime”. With this financial product, “the insurance company absorbs the risk of market downturns, guaranteeing a minimum floor, and protecting contract holders from market losses.” If you are concerned about having to absorb the risk of market downturns in your portfolio, call us, we’re happy to see if an FIA is right for you. We’re always here to help.

Now that we’ve entered a bear market for the first time since 2009, many pre-retirees are likely asking questions about the impact on their retirement savings. Will the stock market sell-off wipe out years of growth in their 401(k)s? Are there any steps that can be taken to protect savings and inv...

07/22/2020

Solutions not Problems
Commentary Presented by: Thomas J. O'Keefe
If you are like many, you are tired of reading so much about the negative consequences of COVID on our finances, employment and plans – whatever they may be, and you long to hear more about solutions. This week’s article tells us things we already know - that the “economic downturn prompted by the coronavirus comes at a particularly bad time for older workers.” And, that “older workers are just as able to work from home, but fewer than half have the opportunity to do so. Meanwhile, new jobs often don’t offer the pay or benefits they may be looking for.” If we are that ‘older worker’ what do we do? One solution may be to look for options other than new employment opportunities that can generate an income for use in retirement. Call us, we have some ideas you may not be aware of. We’re in this together, and are always here to help.

The coronavirus crisis comes at a bad time for older workers who are getting ready to retire soon. New research takes a look at how well these people can work from home or find new employment if they need to. Results are mixed.

07/15/2020

Formula for the math
Commentary Presented by: Thomas J. O'Keefe
I’ve been asked to explain how the dollar amount of what someone receives in social security is impacted by their age at filing for SS. This week’s article does that. It tells us “One of the most important factors affecting your retirement security is how long you work. Additional years make it easier to increase annual Social Security benefits through delayed filing: Filing at the earliest age (62) gets you 75 percent of your annual full benefit; every 12 months of delay past your full retirement age (currently around 66, depending on your year of birth) gets you an additional 8 percent until you turn 70. Working longer also can mean saving more, living off those savings for fewer years and getting more years of employer-subsidized health insurance”. Let us know if you need help in applying these formulas to your personal situation to determine how much additional income you may need to help you live out a more stress-free retirement. There are products that can provide additional income that you may not know about. Call us, we’re always here for you.

They face particular challenges brought on by Covid-19 — issues, experts say, that could lead to retirement earlier than planned.

06/28/2020

Without retirement savings
Commentary Presented by: Thomas J. O'Keefe
This week’s article discusses a type of “retirement plan” that some Americans who have had their retirement savings wiped out by COVID are engaging in, and that plan simply involves moving in with their millennial children. Instead, if you are looking to shore up your retirement savings with products where your principal is protected from market declines, and that can provide you with a guaranteed income you can’t outlive, call us. We’re always here to help.

Americans without retirement savings are increasingly moving in with their millennial children.