Deciding When to Retire: When Timing Becomes Critical

Posted on Feb 2, 2017 in Featured, Investing, Peoples Progress e-Newsletter |

Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you’ll need to estimate not only your anticipated expenses, but also what sources of retirement income you’ll have and how long you’ll need your retirement savings to last. You’ll need to take into account your life expectancy and health as well as when you want to start receiving Social Security or pension benefits,...

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Immediate Annuities Can Provide Lifetime Income

Posted on Aug 15, 2016 in Featured, Financial Planning, Peoples Progress e-Newsletter |

Running out of income is a primary concern for most retirees. Immediate annuities offer a financial alternative to help meet retirement income needs by providing a steady stream of income designed to last through retirement. What is an immediate annuity? An immediate annuity is a contract between you and an annuity issuer (an insurance company) to which you pay a single lump sum of money in exchange for the issuer’s promise to make...

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Planning When to Jump: Tools for Estimating Social Security Retirement Benefits

Posted on Apr 1, 2016 in Featured, Peoples Bank News |

Retirement planning is often mind-numbingly complex. Financial planners and advisors can reduce some of that load, but still, many decisions and financial considerations are required for one or more scenarios. It’s a headache that far too many people put off – to their peril. However, one simple thing that anybody can do is get a reasonable idea of what their estimated retirement benefit will be, depending on when they retire. Every 5 years,...

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Five Questions and Answers about New Social Security Claiming Rules

Posted on Feb 4, 2016 in Featured, Investing, Peoples Progress e-Newsletter |

When Congress unexpectedly eliminated two Social Security claiming strategies as part of the Bipartisan Budget Act of 2015, retirement planning got a little more complicated for people who expected to use those strategies to boost their retirement income. Here are some questions and answers that could help if you are wondering how the new rules might affect you. What’s changing? The provision of the budget bill called “Closure of...

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Common Factors Affecting Retirement Income

Posted on Nov 5, 2015 in Featured, Investing, Peoples Bank News, Peoples Progress e-Newsletter |

When it comes to planning for your retirement income, it’s easy to overlook some of the common factors that can affect how much you’ll have available to spend. If you don’t consider how your retirement income can be impacted by investment risk, inflation risk, catastrophic illness or long-term care, and taxes, you may not be able to enjoy the retirement you envision. Investment risk Different types of investments carry with...

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