What is the difference between an ordinary annuity and an annuity due? If you were to save money in an annuity, which would you chose and why.

Q: You are to pay a bill in Meralco every month for 5 years. The accumulated amount of the payment you…

A: A deferred annuity is an agreement with an insurance broker to pay the owner a monthly income or a…

Q: A client comes to you who needs help developing a plan for retirement and doesn’t have a current…

A: Retirement planning involves saving funds and investing it adequately; so that, the principal and…

Q: Which of the following do you not need to take into account when you retire? A) the cost of living…

A: When planning for retirement, you need to consider several factors to ensure that you will have…

Q: Make a timeline and your plan of action on how you will invest or save money for your future in…

A: The full explanation starts from the Step 2

Q: Buying a home can be considered part of retirement planning because: a) If you have a fixed…

A: Correct option is D all of these statements are true

Q: What are the basic factors that should be considered when establishing anindividual retirement plan?

A: A plan according to which an employer contributes some amount in the pool of funds that is kept…

Q: In the case that the result is decimal, you will round it to two decimal places. 4. New…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: 1. How much was Walter's income? 2. How much did Walter spend? 3. What change was there in Walter's…

A: NOTE: As per our policy, we only answer up to three sub-parts when more than three are provided.…

Q: Explain to a friend or relative how you would use the TVM concept to achieve their desired…

A: Time value of money: It represents the concept that the current value of funds is worth more than…

Q: You will need to spend money to achieve most of the long-term goals you set in your life. It could…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: 18. Of the following expenses, which one can be considered an annuity?   Question 18 options:…

A: An annuity is a fixed amount paid in every period for a fixed duration. The same amount is paid in…

Q: RetirementAccounts. Why are retirement accounts more beneficial than other investments that could be…

A: Retirement planning is the process of determining how much money a person will need to live…

Q: haracterize potential sources of income available for retirement years by addressing the following:…

A: Saving for retirement: Some governments provide schemes that allow working people to save for their…

Q: With private mortgage insurance, many lenders will allow you to borrow more than 80% of the…

A: Question 2:when following smart buying to purchase a home you should:Answer: All of the…

Q: Kindly help on these questions. 1. What are some recommendations methods for raising sufficient…

A: Note : As per our guidelines, we can only answer 1 question at once. Please post other questions…

Q: In pension planning, some people rely on the Social Security system fortheir entire retirement…

A: There are many types of benefit available for the employees after retirement. Two of them are…

Q: If you are an investor, you will put a sum amount in a bank account and will keep on adding that…

A: Financial planning is an process of planning of your  Short term and long term financing goals.…

Q: Which type of account can be used as a retirement savings account?    Section 529 Plan.  Health…

A: A Health Savings Account (HSA) is a tax-advantaged account that enables individuals to save money…

Q: What would be the best way to for me to save money, for when I know i have money, i continue to…

A: The question is based on the concept of Money Management, which explains the utilization of money…

Q: If we realize that our retirement plan will not be able to provide the desired income during our…

A: Retirement income is the income we have desired to get at the time of retirement. For this we use to…

Q: Complete each requirement on a separate worksheet. Each requirement must have a user input section.…

A: Nominal interest rates are the same as the annual percentage rates as quoted by banks or financial…

Q: the concept "pay yourself first". With this in mind, what is your advice to someone on paying off…

A: The concept of "pay yourself first" is an important financial principle that encourages people to…

Q: Social Security is a “pay-as-you-go” system. How

A: Social security refers to the protection which is provided by society to individuals or households…

Q: Which of these people is MOST LIKELY to be offered a discounted rate on his or her homeowners or…

A: We have to read the passage an answer the question following it.

Q: What are good retirement goals? Discuss how someone could achieving these goals

A: We need retirement goals so as to be financially secure and financially independent after our…

Retirement Income

Retirement income is the income received by the retiring person after retirement. Income can either be paid every month or paid annually. The retiree would get a guaranteed income until their death. Retirement income payment differs from person to person based on their investment type and payment method. Some are paid on a lump-sum basis and some are paid in a regular series with fixed payment or variable cash flow. Retirement income can be created from retirement savings, investment, salary, bonus, and wages from employment. Every working individual should plan their retirement income according to their income goals for the future. The plan should be made by identifying suitable income sources, estimating future expenses, applying a savings plan, and managing risk and assets. The most common age for retirement is between 60-65 years.