Category: Financial Advice

David Giertz Discusses Misconceptions About Social Security and Retirement

Retirement is something every working citizen looks forward to when they reach retirement age 62 or full retirement age 65. In a 2016 Nationwide Retirement Institute Study, people who have reached retirement age and those who were near retirement had misconceptions about their social security benefits. David Giertz, president of sales and distribution at Nationwide Financials told CNBC that pensions are drying up and going out of existence. He says it’s imperative to create a retirement plan for income that includes social security as part of full retirement benefits. He also said that financial advisors should communicate with their clients about social security after a survey revealed consumers’ advisors avoided the topic.

 

 

Another misconception Mr.Giertz said retirees and future retirees have about social security is the eligibility age. Although, the age for people to start drawing their social security is 62, the full retirement age is 65 to 67. He said that retirees who wait until full retirement receive higher monthly income, compared to early withdrawal retirees. The retire checks are even higher if they wait beyond full retirement age, he explained. Giertz added that the full retirement annual retirement amount will grow by eight percent if they start social security benefits beyond full retirement age.

 

 

David Giertz joined Nationwide Life Insurance Company’s Nationwide Financial Distribution and Sales as Senior Vice President, in April 2013. He became President of Nationwide Financial Distributors Incorporation one month earlier. Mr. Giertz brings over 28 years of experience in the banking, investment, and insurance industries. He’s a financial planning professional with expertise in social security benefits and building retirement investment portfolios. David ended the discussion stating that taxation is another misconception involving social security benefits, as well as, unexpected health problems having an influence.

 

 

 

Slash Your Car Payments By Refinancing With Ignition Financial

Buying a new car can sometimes be a long and complicated experience. Sometimes, you can spend a half-day at least going over all kinds of details. The car dealer is always trying to talk you into buying something extra. You probably don’t need or want many of these things that the dealer keeps pushing on you but you patiently go through the process. Eventually, you get tired of haggling and just want to make the car deal and get out of the place. However, there is one thing that the dealer makes very attractive to you and that is the financing. The dealer always has a quick and easy finance plan to offer you. So, you agree to go with the dealer’s financing plan and sign the papers.

 

Many people are unaware of the dynamics behind the auto financing process. There is a good reason why car dealers are so insistent on persuading you to finance your car through them. The reason is that the dealers make a lot of money from arranging auto financing for people. In many cases, dealer financing is a very expensive option. You need to understand how the car financing system works in order to see how you are getting ripped off by the dealer.

 

There are many different lending institutions that want to make car loans to people. These institutions offer a financial incentive for the car dealers to choose their company over the others. They work out a deal where they give the dealer a loan at a fixed interest rate called the “buy rate.” The dealer then is allowed to add a few extra interest points to the loan at the time that he makes a deal with you. These extra points are called the “contract rate.” The dealer gets to keep the extra money that he made on the deal. In this situation, the lender and the dealer both make money and you are paying for it.

 

When you consider the price of a new car, you quickly realize that the higher interest rate that you are paying on your loan is the reason that your car payments are so high. You may be thinking: I need to slash my payments to a reasonable amount. You are right and the best way to lower your payments is to refinance your car with Ignition Financial. They can refinance your car at a lower interest rate so that your car payments will be slashed immediately.