Paying half a million dollars a year in life insurance premiums would sound extreme to most families. But for one woman with a $60 million estate, that is exactly what her financial advisers are recommending,  even though she already holds multiple large policies. The issue surfaced during a recent call to “The Ramsey Show,” where her daughter, Sarah, explained that her mom is being encouraged to add another $300,000-a-year life insurance policy on top of the coverage she already has. Altogether, the prem ...

Despite what traditional financial advice might dictate, the average retiree isn’t sitting on a million-dollar nest egg. A recent report from the Transamerica Center for Retirement Studies found that only 17% of current retirees have total household savings of $1 million or more, excluding home equity. Here’s how much the average retiree actually has saved, plus where they’re keeping their money. Average Retirement Savings: Just $126K The report found that the estimated median total household savings f ...

“We are buying long term-care insurance for a total cost over 10 years of $90,000.” (Photo subjects are models.) - MarketWatch photo illustration/iStockphoto Dear Help Me Retire, I am 56, and my wife is 50. We plan to retire at age 62. We each earn $100,000 per year. We have $973,500 in Edward Jones investments, $46,600 in our Robinhood HOOD account, $72,800 in high-yield savings accounts and CDs, and $15,900 in savings and checking accounts. I also have a life insurance policy with a cash value of $9,6 ...

Group 1 - The document contains various references to tax-related topics, including due dates for ETDS returns and changes in excise duty rates, indicating ongoing regulatory updates in the financial sector [1][2] - There are mentions of specific financial instruments such as fixed deposits and mutual funds, highlighting investment opportunities available to individuals and businesses [2] - The document discusses the implications of the Goods and Services Tax (GST) and its impact on various sectors, suggesting a significant shift in the tax landscape [2] Group 2 - The document outlines the importance of compliance with tax regulations, emphasizing the need for timely filing of returns and payments to avoid penalties [1][2] - It includes references to financial planning and investment management, indicating a growing focus on personal finance and wealth management strategies [2] - The document also touches on the role of financial services in supporting economic growth, suggesting that the sector is adapting to new challenges and opportunities [2]