Retirement Planning - Retirement Income Plans are not just for the wealthy. As you plan to retire, the traditional method has been to move growth products into more conservative fixed-income products. When retirement was only expected to last 5 to 10 years, this may have worked. Today, however, people are living longer. You should consider that you may need to plan for your nest egg to last 25 to 30 years.
Wealth Accumulation – “Times are changing…” It may be an old Bob Dylan song, but it is so true today. Time can be used to your advantage when investing for wealth accumulation. Having your assets diversified in the right products and allocations during these uncertain times will not only build and protect your wealth, but provide peace of mind. After all, the last thing you want to do is lose wealth during the next market correction.
Asset Protection – Today’s asset protection calls for more than just strategic asset protection. Product allocation (using instruments that can protect your portfolio from negative returns early in retirement) is considered a more effective means of asset protection. Diversifying using insurance and investment vehicles may offer you the best chance of meeting your retirement income goals.
Long Term Care Protection
IRA (Planning for a Legacy) – IRA Accounts have become one of the largest types of assets inherited by beneficiaries. Many retirees don’t plan on using all of these assets, most take only the (RMD) leaving a taxable inheritance. You may wish to consider a legacy planning strategy to reduce taxes and increase the payout your beneficiaries will inherit. We can help to determine if IRA Legacy Planning is the best means for ensuring a long lasting inheritance.
Life Insurance – Life insurance isn’t for those who have died, it’s for those left behind. When shopping for life insurance, consider the needs for replacing income to maintain a standard of living, pay for funeral costs, and estate costs. How much does one need? A rule of thumb between 5 – 7 times the gross annual income. Life insurance comes in two types: Term and Permanent. Which one is right for you? We can help to determine the right choice.
Income Planning - Outliving their income remains the biggest fear retirees have. Thanks to advanced medical technology, prescription drugs; and even for some a healthy diet and exercise, people are living longer than ever before - creating more of a reason to have a plan in place to create income designed to last a lifetime.
Understanding an investment loss in the years just prior to and/or just after you retire can have a devastating impact on the level of income you receive during your retirement. In fact, the earlier a loss occurs, the greater the chance of depleting your retirement savings.
We can help you create an income plan using income vehicles and incorporating insurance to create opportunities for long-term growth as well as a stream of income to last throughout your retirement.
IRA & 401K Rollovers – When you retire or even change jobs, there are 4 things you can do with your money in your employer-sponsored plans:
Leave your money where it is.
Transfer the money to another employment plan (if allowable)
Roll the money over into an IRA
Take the cash (pay income taxes and perhaps 10% federal penalty if younger than age 59 ½ )
Rolling over from one qualified plan to another qualified plan allows your money to continue growing tax-deferred until you receive a distribution in retirement. We can help you determine if a rollover is the right move for you, and we can help find the best vehicle to help grow and conserve your rollover.