Interest Rate Perspectives, Beware of Annuity Contracts in 401k Plans & Continuing Care Retirement Communities

Welcome to the⁠ @plannedsolutions ⁠Incorporated Podcast. The increase in interest rates over the past several years has created some financial planning opportunities and risks that should be considered. These include the benefit of creating a cash management plan to increase earnings on low-risk investments and implementing more creative borrowing strategies to reduce the overall cost of debt. Also, Some employers are now offering annuity-based investment options as a part of their 401k investment line-up. These investment options are designed to target financially unsophisticated savers by making the process of converting retirement saving to retirement income easy, but they come with higher fees and other risks, such as inflation risk, that may not be properly disclosed. As well, Continuing Care Retirement Communities are a long-term living and care solution that is becoming more and more popular among retirees. These facilities often offer independent living, assisted living, and long-term care with multiple levels of care available making them a one-stop shop for retiree living needs. However, these facilities often require large upfront payments as well as ongoing monthly fees that vary by level of care, making it an important financial decision that should not be taken lightly. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Our website has been upgraded! After months of working with our website developer to change the look and functionality of our website it is finally live at www.plannnedsolutions.com. The IRS has once again suspended the missed RMD Penalty for post 2020 Inherited IRAs for one more year, into 2025. This affects beneficiaries of IRA accounts where the original owner died between 2020 and 2023 and who are subject to the 10-year payout rule. To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail ⁠[email protected]⁠ The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Chase Armer's book- Financial Planning Insights is now available at: ⁠⁠https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb⁠ Time Code Interest Rate Perspectives 02:45 Beware of Annuity Contracts in 401k Plans 15:25 Continuing Care Retirement Communities 19:07 PSI Office Bulletin Board 22:43 Planned Solutions, Inc. ⁠https://www.plannedsolutions.com/