Definition of the Day December 10

Annuitization:
The process of converting an annuity contract's value into an income stream represented by periodic payments made over a specified period of time.

Definition of the Day December 9

Executor:
An individual named in a will who is designed to carry out the wishes of the deceased person for the distribution of his or her property and who performs this activity under the supervision of a court.

Highlights for December 7 Your Safe Money Show

We're talking credit on this Saturday's Your Safe Money Show. Credit cards, credit scores, credit fraud and we'll introduce you to an expert on credit, John Mackey. I also have timely information on budgeting for the holidays.

Definition of the Day December 5

Renewal Rate:
The new rate of interest credited to an annuity after the current interest-rate period is over, typically on the anniversary of the contract. This rate may be higher or lower than the current rate, depending on economic conditions and the investments used by the insurer.

Definition of the Day December 4

Deferred Compensation:
Compensation for services rendered provided under an agreement stating that such compensation will be paid sometime in the future, after the actual services have been performed.

Census Info and Women's Workshop's

The 2010 U.S. Census shows 80% of the people that reach centenarian status, age 100, are women.

Because women have longer life expectancies they have greater financial challenges:

Women will need to stretch their retirement dollars further.

Women are more likely to need some type of long-term care, and may have to face some of their health-care needs alone.

Married women are likely to outlive their husbands, which means they could have ultimate responsibility for disposition of the marital estate.

Women generally earn less and have fewer savings.

According to the Bureau of Labor Statistics, within most occupational categories, women who work full-time, year-round, earn only 81% (on average) of what men earn. This wage gap can significantly impact women's overall savings, Social Security retirement benefits, and pensions.

We'll be offering a couple of workshops in late January called "Wine, Women, and Wealth" targeting women and their specific concerns. The dates are Tuesday January 28th and Thursday January 30th. Please keep those dates open and we'll have more details on these workshops in weeks to come.

Definition of the Day December 3

Liquidity:
The ability to quickly convert assets into cash by an individual or organization without incurring significant losses of value.