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Most people make a concerted effort to plan and save for retirement, but many fail to account for the projected toll that health care costs will take on their mandatory expenses throughout their retirement. There is a common misconception that savings will be enough to cover living expenses while Medicare can cover health care related costs, but reality doesn’t always match the numbers, and Medicare only covers approximately 60%.  

Earlier this year, the Fidelity Retirement Health Care Cost Estimate found that an average retired couple, age 65 in 2018, would need around $280,000 saved (after taxes) just to cover health care expenses. That is a big ask for most couples, and both health care inflation and expected lifespan are continuing to increase at expedited rates to compound the problem.

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Unclaimed Retirement Benefits: Do you have money lost in old 401(k)s and pensions? There has been a wave of reporting over the last few years around the vast sums of money in unclaimed accounts in the US. Millions of Americans have … Continue reading

What pre-retirees owe could compromise their future quality of life.The key points of retirement planning are easily stated. Start saving and investing early in life. Save and invest consistently. Avoid drawing down your savings along the way. Another possible point … Continue reading

With the end of the year approaching, now is the time for high income earners to assess whether a defined benefit plan makes sense.A defined benefit plan allows the highest deductible contributions of any retirement plan.  This plan allows you … Continue reading

As life expectancies continue to rise, coupled with historically low interest rates, the prospect that retirees face of running out of retirement funds is very real. Given the average life expectancy of a 65 year old female is age 90 … Continue reading

Because if you are nearing retirement and are looking for a vehicle that could give you the opportunity to receive steady income, immediate annuities ought to be considered.  If you are looking to turn some of your investment portfolio from … Continue reading

Given the results of a recent study by the Employee Benefit Research Institute that show only 13% of Americans feel confident that they will have enough money in retirement to live comfortably, the time has come for employers to take … Continue reading

Roth IRA Mirror Plan – A Tax Advantaged Asset Accumulation Strategy Are you paying too much in Federal Income Taxes? Do you want to minimize the impact of higher taxes? Are you looking to accumulate wealth on a tax-advantaged basis? The … Continue reading

In this edition of the RRC, we expand upon our recent post on retirement insights from J.P. Morgan and a few of the key findings of interest from their study.  We will also give a glimpse of retirement readiness through … Continue reading

Retirement Insights from JP Morgan’s 2013 Plan Participant Survey In the outcome driven world of retirement planning and services, stewards are needed now more than ever before. Our goal at Sapers & Wallack is to provide guidance to all of … Continue reading