Financial Services Blog

Investor Insights: June 2013

This month's Investor Insights includes the following articles;

Risky Business:  Just How Risky is Your Retirement Portfolio?

If you're like most people, you probably evaluate your portfolio in terms of its return. However, return isn't the only factor you should consider; also important is the amount of risk you take in pursuing those returns. The term "risk" is often understood to mean the risk of loss. However, a portfolio is generally a means to an end, such as paying for retirement or a child's college tuition. In that context, "risk" also means the risk of not meeting your financial needs.

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401(k) Plan Fees:  Their Cost to You and Your Retirement.

If you direct your own 401(k) plan investments you'll need to consider the investment objectives, the risk and return characteristics, and the performance over time of each investment option offered by your plan in order to make sound investment decisions. Fees and expenses are factors that may affect your investment returns, and therefore impact your retirement income.

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Social Security Benefits: What You Must Know Right Now.

Social Security provides retirement income you can't outlive. And, in addition to your own benefit, your spouse may be eligible to receive benefits based on your earnings record in the form of spousal benefits and survivor's benefits. So, it's easy to see why, with all of these potential benefit options, Social Security is an important source of retirement income. But, according to the Social Security Administration, only about 40% of an average worker's preretirement income is replaced by Social Security (Source: SSA Publication No. 05-10035, July 2012).

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What is a Payable on Death (POD) Bank Account?

A bank account can be designated as payable on death to someone of your choice. The bank pays these funds to this person almost immediately upon your death, and the funds will generally not be subject to probate.

The payable on death designation is very simple and flexible. You can change the designation as needed, and the individual you designate has no right to the money until your death. Also, the individual will not receive the account unless he or she outlives you. A POD designation can also be used with U.S. savings bonds.

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For more information on our Financial Services, contact Bob Coode by leaving a comment below, or by calling 440-449-6800.

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