Brad Collins/NY Life Insurance 1 in 5 Americans age 65 or older are working or looking for work. 1 Why do so many expect to postpone a typical, leisure-filled retirement? One theory points to the decline of pensions and the need to replace the income stream that used to come—guaranteed—from a pastContinue Reading
The Federal Bureau of Investigation (FBI) has a list of 31 common fraud schemes on its “Scams and Safety”1 web page, including credit card theft. The thief makes small purchases with your stolen credit card number and sees if they go through, if they do, then they hit your accountContinue Reading
Brad Collins/NY Life Insurance Most business owners want to grow their businesses and pass them on to the next generation. But how many owners actually succeed? Relatively few, as it turns out. Studies show that only a third of family firms make it to the second generation, and just a sliver getContinue Reading
Brad Collins/NY Life Insurance Aging is a fact of life and it comes with certain realities. While most of us probably don’t want to picture ourselves eventually needing help with daily activities, more than half of Americans turning 65 today will need some type of long-term care during their remaining years. AsContinue Reading
Brad Collins/NY Life Insurance When interest rates are low, you may have questions about how this affects your financial strategy. Low interest rates often make investors worry about lagging returns. Investors might consider adding income annuities to their retirement portfolio. How to compare income-generating solutions when interest rates are low. Continue Reading
Brad Collins/NY Life Insurance Contrary to popular belief, life does have second acts. And if you’re nearing retirement and want—or need—to continue working, there’s some good news: You can leverage the knowledge and experience of your first career into a new one that can generate the income you need, and be personallyContinue Reading
Brad Collins/NY Life Insurance You may think you don’t need to worry about life insurance until, or if, you have children. After all, there’s no one who relies on you to feed, clothe, and educate them. Remaining uninsured, however, could prove to be a big financial mistake, even without dependents. Here’s why.Continue Reading
As a business owner, you probably know everything about how your company works. But maybe not what it’s worth. If so, that might create problems in the eventual sale or transfer of your business, especially if the sale or transfer is sudden. Proper valuation of your business helps youContinue Reading
From NYLife’s Brad Collins The first image that often comes to mind when people think about long-term care is an elderly person sitting alone in a depressing nursing home. The misconceptions about what long-term care involves and peoples’ images of the most common care settings are understandable, since long-term careContinue Reading
By NYLife’s Brad Collins When people save for retirement, the biggest concern is the return on investment. When they retire however, it’s not only the returns they need to care about, but also the order of those returns. Negative returns during the first couple of years of retirement can increaseContinue Reading
By NYLife’s Brad Collins All business owners can benefit from some level of estate planning. Building protection into your business plan is one of the most important decisions you can make to safeguard your partners, your employees and your family. Here, we will discuss the four key components of estateContinue Reading
From Brad Collins, NY Life Have you put off making a will? If so, you’re not alone. According to a 2020 survey conducted by Caring.com, only 32% of American adults have estate planning documents, like wills and living trusts, in place. While preparing a will may not beContinue Reading
By Brad Collins, NYLife Investing in the stock market provides you with an opportunity to put your money to work. Historically, the Standard and Poor’s 500 Index has returned close to 10 percent on an average annual return.1 Of course, past performance is no guarantee of future results. But mostContinue Reading
From Brad Collins, NYLife As the parent of a special needs child, you know how rewarding—and challenging—caring for your loved one can be. And even though you’ve got it all under control right now, you can’t help worrying about the future. After all, someday your child will have to goContinue Reading
From NY Life’s Brad Collins Aging is a fact of life and it comes with certain realities. While most of us probably don’t want to picture ourselves eventually needing help with daily activities, more than half of Americans turning 65 today will need some type of long-term care during theirContinue Reading
By NYLife’s Brad Collins According to the Bureau of Labor Statistics, just 51% of private sector employers offer defined contribution or defined benefit pension plans, and only 8% offer traditional defined benefit plans, thereby eliminating a guaranteed source of lifetime income. Social Security benefits replace about 40% of the averageContinue Reading