March 17th, 2017
Start with your current financial situation, specifically pay attention to how you can start to maximize your income and begin to reduce your expenses. For a lot of people, planning for retirement normally starts about 5 years ahead of schedule.
Below is a helpful guide on areas that you should focus on.
[It is important to note that this is to give you an idea only and should not be the only checklist used].
5 Years to Retirement Date
a] Meet with your pension provider and make sure to discuss the following: Read the rest of this entry »
February 22nd, 2017
Gone are the days when you worked for the same employer for 50 years, for most of us, we have worked at different companies and even in different industries during our working lives.
Throughout the course of your working career you probably have accumulated some pension money and if you have not rolled over your pension money from one company’s pension plan to the next, then chances are, you have several pension plans with multiple pension providers.
Since the Pension Act came into effect in 2000 and being part of the National Pension Scheme [NPS], one of the most common questions we get asked in the pension business is, Read the rest of this entry »
January 10th, 2017
As the New Year is upon us, new goals and new visions are being created to make this a prosperous and successful 2017. Perhaps you are in the later stages of your career and are consciously developing a succession strategy for your role to ensure a smooth transition when you do retire. Ever thought what would happen if you were forced into retirement well before your succession strategy could ever be executed? Read the rest of this entry »
December 13th, 2016
With the start of the holiday season upon us, we are consistently reminded of the joy of giving; either by TV commercials, articles in the media or a flyer received in the mail. Giving generally equates to more spending and when you don’t have a lot of money that can sometimes mean borrowing money.
Perhaps you already have a mortgage payment, a car payment or credit card debt, so adding additional debt during the holidays and trying to find a way to pay off this debt might be challenging.
Knowing how to manage your debt and sticking to a realistic budget isn’t always common sense, it is a
Read the rest of this entry »
October 28th, 2016
Alot of people who are getting close to their retirement age are being faced with really difficult challenges and are having to make some really tough decisions.
The hardest hit is the “Sandwich Generation”, the generation which is trapped between financially providing for their own children and being responsible for providing financial assistance to their elderly parents.
Now, if you are lucky enough not to be sandwiched, think about how soon you might face this challenge and how long those obligations could last. In this situation, early planning can go a long way to easing emotional and financial strain.
An article in the Daily Mail on September 2015 stated “Middle-aged parents are forced to balance working full-time while spending an extra 19 hours every week caring for their older relatives, with a third paying towards their care. Meanwhile they are spending nearly £6,500 a year on children aged 22 and over.”
So how could this impact you?
Read the rest of this entry »
September 23rd, 2016
There is a growing trend in Bermuda among people who are ready to retire or who have just retired to head off the island to make the most of cheaper living and/or a more adventurous lifestyle.
Whether you are choosing to move to the US or Canada or something a little more exotic like Ecuador or Belize; making sure you plan accordingly is key. Retiring overseas can be a great idea but without research and a clear understanding of what is involved, it can be a very bad idea.
Read the rest of this entry »
August 19th, 2016
Speak with anyone who’s been in an emergency situation like a fire, flood or car accident and they’ll say the same thing “I never expected this to happen”! The biggest challenge with emergencies is not only are you dealing emotionally with the aftermath of the event, you are also dealing with it financially.
A large amount of the working population are waiting for their pay check to hit their bank account, only to spend every last penny. Only to have to wait for the next pay check to arrive. Unfortunately, when you live pay check to pay check ; you have not had a chance to build much in savings so when an emergency occurs you do not have the financial resources to cover it.
So the question is: how do you manage your money and plan for the unexpected? It can be answered in two words – Emergency Fund. Read the rest of this entry »
August 17th, 2016
FMi has moved to our new place in Huntington!
Our new address is 11 Prospect Street, Huntington NY, 11743.
We love our new location. Stop by and say hello!
July 21st, 2016
We hope our partners, friends and colleagues at Freisenbruch-Meyer and surrounding businesses are safe due to the fire in Bermuda today. Thankfully, all of our staff and account data are safe. For any inquiries on pension matters, please call our NY office at 631-385-2100 or email@example.com. Thank you to all the emergency service men and women who helped contain the fire.
August 25th, 2014
How well prepared are you for the retired life?
The first consideration for retirees is to be sure that you have enough money saved and invested to sustain your financial needs during your retired life. Aside from the basics, you want to be able to sustain a chosen lifestyle. Setting aside some funds for emergencies and cash needs adds to your security. Continuing to save and invest during your retirement helps you to hedge against outliving your retirement assets. According to U.S.News & World Report contributor, Dave Bernard, there are steps to help you make the transition into a happy retirement that involves setting personal goals and working toward achieving them.
The first consideration in your preparation is to decide what will you do? Read the rest of this entry »