As your retirement horizon draws closer, you may be wondering about the role life insurance plays in retirement.
Is it necessary? In what ways? How do you decide whether to extend your coverage of drop it completely? Is life insurance worth carrying into your later years?
In this post I’d like to explore the role life insurance may or may not play in your retirement.
At the date of this writing, Monday August 24th, the S&P 500 has just closed at a record high. While this is exciting to most “buy-and-hold” investors, many investors also understandably perplexed. In the face of massive unemployment and the coronavirus pandemic that is still ending the lives of thousands worldwide everyday, why would the stock market be performing well?
You’ve likely heard that everyone should be saving 10% of their gross income toward retirement. This is sound advice and anyone would be better off following it; however, it can also be misleading. One’s “retirement success” (loosely defined as having enough money to cover your expenses throughout retirement) is in part a function of how much is saved, but there is much more at play here.
After a recent conversation with my mom I commented to my wife, “I just love my chats with mom. When I finish talking to her I feel so grounded.” I know I’m not alone. Moms can bring a calming, stable influence into our turbulent lives.
We all need this stability and grounding--emotionally and financially--especially when we’re feeling the wide swings. During a seminar I gave this week, I talked about a financial tool that can bring stability to our financial lives. While bond investments may be seen as the boring aspect of our investment portfolios, their role is crucial, especially when our investment portfolios are in need of some “grounding” of their own.