Intelligent, forward thinking individuals will start planning for retirement early. The longer you have to accumulate the resources that you will need, the more likely it is that you will reach your goals.
Read more…

Parman & Easterday are members of the American Academy of Estate Planning Attorneys.

The questions about retirement planning, more specifically about the sufficiency of income during retirement years, is coming up more and more in our client meetings.  To some extent, this happens when people realize the limitations of social programs that are in place to assist senior Americans.  There are those who have every expectation of retiring because they have been paying into the Social Security program all of their lives and they assume that all their medical expenses will be covered by Medicare.
Read more…

Parman & Easterday are members of the American Academy of Estate Planning Attorneys.

Recent statistics show that a lot of people are finding themselves unprepared for retirement.  One reason is because they assume that Social Security will provide them with adequate retirement income. Looking more closely into the matter you find that the average Social Security benefit is not going to be enough to finance any reasonable retirement.
Read more…

Parman & Easterday are members of the American Academy of Estate Planning Attorneys.

Social Security is a very important part of the retirement planning efforts of many individuals. Most of the people who receive Social Security say their monthly benefits constitute the majority of the income they receive.
Read more…

Parman & Easterday are members of the American Academy of Estate Planning Attorneys.

Anyone who lives in America and has a pulse is well aware of the fact that the most pressing issue on the political front is the national debt. As a way to punt the matter down the road a bit, during the debates surrounding the raising of the debt ceiling a few months ago, a compromise was reached. It involved the appointment of a bipartisan Congressional group that is being dubbed the “super-committee.” These individuals have been charged with formulating a plan to shave $1.5 trillion from the federal deficit over the next decade.
Read more…

Parman & Easterday are members of the American Academy of Estate Planning Attorneys.

A high percentage of people who reach the typical retirement age rely heavily on Social Security. According to the Social Security Administration, one-third of recipients say that Social Security comprises at least 90% of their income, and over 60% state that Social Security is their primary source of income. This is not especially good news when you consider the fact that the average Social Security payout is around $1175 a month at the present time, and there have been no increases in the last two years and counting.
Read more…

Parman & Easterday are members of the American Academy of Estate Planning Attorneys.

People in the elder law community are talking about the fact that many individuals who are approaching retirement age are simply not prepared. About a fourth of baby boomers who recently responded to an AP-LifeGoesStrong.com poll have no retirement savings at all, and over 60% of them expect Social Security to be their primary source of retirement income. This is a rather “imperfect storm” when you consider the fact that the federal budget deficit has many of us – even a few serious legislators in Washington – finally realizing that it is likely we will have to trim entitlement programs for senior citizens.
Read more…

Parman & Easterday are members of the American Academy of Estate Planning Attorneys.

Over recent months the issue of the federal budget deficit has been one of the most hotly debated topics on Capitol Hill. Social Security, Medicare, and Medicaid expenditures accounted for 43% of the annual federal budget in FY 2010, and the number of people who will be eligible for these programs are expected to increase dramatically over the coming years. So those who are concerned about the deficit suggest that we can’t make any headway without cutting these programs.

Read more…

Parman & Easterday are members of the American Academy of Estate Planning Attorneys.

Only a generation ago, many people could look forward to a secure retirement, as long as they devoted much of their working life to a reliable and stable company. For our grandparents, retirement meant a check in the mail every month, and often included health insurance coverage for the rest of their lives.
Read more…

Parman & Easterday are members of the American Academy of Estate Planning Attorneys.

Planning for retirement can be stressful, and it is only natural that you worry that you are making the wrong decisions, or that your plan won’t work the way you hope it will. Those that don’t have a lot of money do have reason to worry when it comes to retirement, but if you create a step-by-step plan to follow, it can seem a lot less stressful.
Read more…

Parman & Easterday are members of the American Academy of Estate Planning Attorneys.