148). Consequently, trends in retirement have raised important questions about the financial soundness of some of the main institutions that provide income to retirees and their families such social security, other public and private pension plans, and Medicare (Aaron & Burtless, 1984)
If a renter elects to be covered for about $40,000 worth of coverage for your possessions and $300,000 in liability, you should expect to spend about $150 a year. Renters have the same choice as homeowners do between replacement cost and cash-value coverage; in addition, if they own jewelry or antiques that will nott be fully covered, such renters should consider getting an endorsement policy as well (Washington, 1998)
Adelmann (1990), who points out that whole life insurance is a level-pay contract which is guaranteed by the entire net worth of the life insurance carrier, and possibly by a reinsurer. "The guarantee is that if the owner pays the scheduled premiums, upon the insured's death the carrier will pay the face amount of the policy to the named beneficiary" (Adelmann, 1990, p
The Roth IRA, on the other hand, allows "qualified distributions" to be free from tax and penalties. Given that 2003 is the first year that a qualified distribution from a Roth IRA can occur, we will review the tax treatment of Roth IRA distributions (Appleby, 2003)
has grown from $13,000 of total coverage under only 12 certificates in 1912 to more than $3.754 trillion of coverage under 141 million certificates issued under 707,000 master policies as of 1990 (Aragona & Godfrey, 1992)
A survey by Fidelity Investments, the nation's largest mutual fund company and a leading provider of financial services, found that fully 80% of small business owners believed it was important to help employees save for retirement, but only 35% of them currently offered an employer-sponsored retirement plan. "Some business owners don't make this offer because they are overwhelmed by the choices, the expense of employer contributions and the time it takes to implement and administer these plans" (Beech, 1997, p
When buying homeowner's insurance, make certain you purchase enough coverage to replace the house and its contents. "Replacement" on the house means rebuilding to its current condition (Bijlefeld & Zoumbaris, 2000)
According to Blackman, the reasons a tax-free E/R plan is better than a Roth IRA are two-fold: 1) earnings do not count (whether an individual has zero earnings or earns millions); and 2) withdrawals are always tax-free no matter when taken (and they can be used for any purpose such as a college education, to buy a home or for retirement). Further, individuals can start a tax-free E/R plan at any age and annual contributions (these are actually premiums for a specially designed life insurance policy) to the Plan have no limit (Blackman, 2003)
28). In the 1970s, Congress first started allowing taxpayers to contribute to individual retirement accounts (IRAs); thereafter, IRAs became highly popular in the 1980's (Bledsoe, 1998)
Increasingly, more employees are able to select from a variety of health care plans, due to the growing prevalence of preferred provider organizations (PPO's) and health maintenance organizations (HMO's) offered by employers during the past two decades. New data from the Bureau of Labor Statistics also indicate that fully two-fifths of full-time workers in private industry were offered a choice of health plans; in addition, more than one-half of full-time private establishment employees were offered a PPO or HMO plan, and nearly one-third of those who were offered health insurance could choose from more than one type of plan (Bucci & Grant, 1995)
"The need to consider long-term care plans and long-term care insurance (LTCI) long before retirement is increasingly evident. The growing number of seniors in the United States face sobering threats to their financial survival, with potentially staggering medical costs and a greater-than-40% risk of serious incapacity" (Clapp, p
If an individual is not covered by a company retirement plan, all of the contributions to a traditional IRA are deductible. (These authorities also point out that a write-off is available to taxpayers who are covered by company plans and whose income is less than $34,000 on an individual return and below $54,000 on a joint return; however, it is phased out as income rises above those levels) (Franklin & Stevenson, 2002)
"Every developed country except the United States has extensive organized methods of paying for health care. Most have statutory health insurance systems in which the private insurance funds gain many new members throughout the population, administer money collected by requirement from subscribers and employers, and pay the health care providers -- all according to laws" (Glaser, 1992, p
"Unless someone expects major increases or decreases in their standard of living, one good rule of thumb is to provide for buying power equal to 65% of current income. Then decide how soon you would like to retire" (Goff & Scott, p
The majority of dental policies contain relatively low annual limits of coverage (such as $2,500), as well as deductibles and coinsurance provisions. Further, some policies limit benefits to a percentage of the cost of services (Greene, 2004)
"Clients with low gaps were not seen as needing to take action but clients with significant gaps were advised to reconsider disability spending issues and/or look into the possibility of purchasing private disability insurance. The results of the needs analysis suggests the importance of stressing disability insurance estimation" (Gutter & Hanna, 2000, p
"The use of a living trust in gift/estate planning depends largely on the individual circumstances of the taxpayer. Many of the reasons a living trust is selected instead of a will as a means of inter-generational asset transfer are non-financial in nature" (Howell, 1994, p
. attempts to sell more products, to improve customer service satisfaction, and to decrease absenteeism in a department by 5%" (Ivancevich, 1995, p
Goal setting seems easy, and a lot of people assume that they have the intuition and inherent skills to set and use goals to accomplish organizational goals; however, it has also been shown that training in specific goal-setting skills can be very effective. Therefore, the career planner should seek to establish goals according to goal specificity, goal difficulty and goal intensity as these factors apply to accomplishment of these goals (Locke, 1978)
Consequently, the total number of workers qualifying as disabled and not able to work was over five million. "Insurance industry statistics show that the odds of suffering a debilitating injury or illness are far greater than dying during one's working years" (Marino, 2000, p