CD rates at all time lows - Retirement Financial Annuity Advisor Grant Simon Covington Louisiana

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Record low rates on savings accounts and CDs are hampering the plans of would-be retiree. With CD rates averaging well below 2 percent returns, they can't keep up with inflation. Grant Simon with Simon & Simon International says when retirement gets close you should consider protecting you assets and using as much tax deferral as possible. There are many insurance and annuity products that can protect assets and create lifetime income.

Fiscal Cliff & Retirement - Financial Annuity Advisor Grant Simon Covington Louisiana

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The impending fiscal cliff, the prospect of tax reform and future debt ceiling debates are causing pre-retirees to feel uneasy about their financial planning strategies and funds for the future. If a compromise cannot be reached before January 1, 2013, there could be $607 billion in automatic annual tax increases and spending cuts will automatically take effect. Even if a compromise is reached before the end of the year, it is highly likely that both Medicare and Social Security will have benefits reduced in the future.

Grant Simon of Simon & Simon International in Covington Louisiana says "it is important for retirees to always plan ahead to avoid running out of money during what should be the golden years. Those who are planning for retirement are worried that the fiscal cliff may bring possible hikes in tax rates on income, capital gains and dividends."

Sequence Media Employer Defined Contribution Plans Simon & Simon Inc Covington Louisiana

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In a defined contribution plan, fixed contributions are paid into an individual account by employers and employees. The contributions are then invested, for example in the stock market, and the returns on the investment (which may be positive or negative) are credited to the individual's account. On retirement, the member's account is used to provide retirement benefits, sometimes through the purchase of an annuity which then provides a regular income. Defined contribution plans have become widespread all over the world in recent years, and are now the dominant form of plan in the private sector in many countries. For example, the number of defined contribution plans in the US has been steadily increasing, as more and more employers see pension contributions as a large expense avoidable by disbanding the defined benefit plan and instead offering a defined contribution plan.

How to create your own pension plan: Gerald Simon Covington Louisiana

More companies are cutting costs by dropping their traditional pension plans, As a result, workers looking to offset this loss of income are turning to annuities. Gerald Grant of Simon and Simon International, a Louisiana based firm specializing in independent financial planning and insurance solutions joins us in studio to discuss Pension Planning.

How to Maximize Veterans' Benefits: Grant Simon, Covington, Louisiana

Many veterans can have difficulty getting their full benefits from the VA.

A VA-compliant trust can help protect assets and guarantee children will not be left destitute when the parent passes away.