Retirement Planning Archives - Cravitz Financial & Insurance Solutions

Category Archives for Retirement Planning

Will Social Security be there for me when I retire

Will Social Security Be Around When I Retire?

If I had a nickel for every time I was asked this question… well, let’s just say I’d have a lot of nickels. But I don’t blame people for asking. It’s a good question. If you watch or read any news at all, then you’ve gotten mixed reports over the years. A dozen stories will […]

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Can and should you take money out of your retirement plan to pay for your child's college education?

Should You Take Money Out Of Your Retirement Plan To Pay For Your Child’s College Education?

Look, I get it.  Your son or daughter is getting ready to go to college.  You realize you haven’t saved enough and you want to consider every possible solution to help your child be to afford a solid college education. Perhaps you have been saving in a 529 plan or perhaps just a taxable brokerage […]

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average vs real rate of return

What is the difference between the Average Rate of Return and the Actual Rate of Return – And Why Should I Care?

I spoke to a lady the other day and for the sake of anonymity, we’ll name her Sarah.  Sarah went to a workshop seminar that was given by a fairly popular figure in the financial world. And I must say, I don’t always agree with his advice. In fact, oftentimes, some of things he says and […]

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Pros and Cons of reverse mortgage

The Pros and Cons of Using a Reverse Mortgage in Retirement

A reverse mortgage can be an important financial tool for seniors concerned that they may not have enough money available to them for retirement. With a reverse mortgage, older homeowners are able to convert part of the equity in their homes into cash, yet still maintain ownership of property. These funds can then be used […]

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How to Hedge Your Retirement Against the Costs of Healthcare

How to Hedge Your Retirement Against the Costs of Healthcare

According to a report published by, the median cost of a semi-private room in one of California’s nursing homes is $7,450 a month. That’s almost $90,000 a year! – enough to drain the retirement savings of most Americans. It happens. It happens far too often, in fact, and it often results in state Medicaid authorities seizing […]

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Life Insurance Boosts Pension

How the Right Life Insurance Policy Essentially Boosts Your Pension

No, buying a life insurance policy isn’t going to increase your pension benefit checks. But there is a legit strategy for using life insurance as a way to get the most of your pension. Let me share a recent experience with you… Meet Darren and Leigh Darren came to me the other day for advice […]

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Make the most of RMD's from IRA's

What If You Don't Need Your RMD's? Creative Ways to Make the Most of RMDs

You know, 2016 is going to be one of those years many of us will remember for a very long time. We’ve watched the stock market reach record heights, felt our jaws drop when the Brits voted for Brexit, saw Michael Phelps cement his Olympics legacy and the Chicago Cubs break the longest championship drought […]

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Retirement income planning withdrawal strategy

What’s Your Retirement Withdrawal Strategy?

Before we get into the specifics, it’s important to first categorize our retirement savings by how they are taxed. 1. Taxable savings – regular savings accounts or investments where income and capital gains are fully taxable. 2. Tax-deferred savings – a Traditional IRA or employee-sponsored 401(k), for example, where taxes are not paid until funds are distributed. […]

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