Individuals often view retirement income planning and legacy planning as discreet exercises. In fact, these planning objectives can both be met through the use of charitable remainder trusts (CRTs), which is an irrevocable trust in which you—the donor—receive income generated by the assets donated to the trust, while the remaining assets at your death are distributed to a charity selected by you.
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Retirement dreams, more often than not, involve making big purchases. They may range from a two-month tour of European cities to buying a second home. If you perform an internet search on “big purchases in retirement,” many of the results center on discussing the biggest big-purchase mistakes retirees make.
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The SECURE 2.0 Act passed at the end of last year contains a number of retirement and tax provisions that expands retirement coverage, increases retirement savings opportunities and simplifies a number of retirement rules.
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Amid choppy financial markets in 2022, investors increasingly discovered the value of annuities. While much of last year’s annuity sales were in fixed-rate deferred annuities, index-linked annuities continued to post strong sales, rising to almost $41 billion in 2022—6% higher than 2021 and a new all-time sales record.
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Tontine is an investment in which individuals pool their money and from which each receives income for as long as they live, with the payout entitlements of deceased participants accruing to the surviving participants.
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