Watch a quick video to learn about our "Rock Solid Retirement Income Strategy". Peace of mind that comes with retirement income that's guaranteed to last as long as you do! |
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What We Do - At A Glance
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Want to build a safe income you can rely on?
Do you want to retire now or within the foreseeable future? Do you want to explore different ways you can produce income from your investments? When can you retire? How much income do you need in retirement?
Most people want a solid and reasonable game plan when it comes to their retirement income – a retirement income that actually provides the income with safety and consistency. They just don’t know where to start to develop and implement a retirement income plan they can sleep with.
You can have a retirement income and income plan that is safe and reliable. By having a plan you can count on, it will make investment decisions much easier. Not only will financial decisions become easier, they will probably become more effective since less emotion will be tied into them. Your retirement will become a matter of working the plan, rather than hoping for things to ‘pan out.’
The items below are exactly the ones we help you address. The fact is, there is no reason why you can’t have the retirement you want. We can help you assess your current situation, understand the different options available, build a plan, implement, and monitor the progress.
The question becomes how to do it. Where do you start?
The fact is, there is no reason why you can’t have the retirement you want. We can help you assess your current situation, understand the different options available, build a plan, implement, and monitor the progress.
The items below are exactly the ones we help you address. These are the most important elements in building and having a safe and reliable retirement income:
Most people want a solid and reasonable game plan when it comes to their retirement income – a retirement income that actually provides the income with safety and consistency. They just don’t know where to start to develop and implement a retirement income plan they can sleep with.
You can have a retirement income and income plan that is safe and reliable. By having a plan you can count on, it will make investment decisions much easier. Not only will financial decisions become easier, they will probably become more effective since less emotion will be tied into them. Your retirement will become a matter of working the plan, rather than hoping for things to ‘pan out.’
The items below are exactly the ones we help you address. The fact is, there is no reason why you can’t have the retirement you want. We can help you assess your current situation, understand the different options available, build a plan, implement, and monitor the progress.
The question becomes how to do it. Where do you start?
The fact is, there is no reason why you can’t have the retirement you want. We can help you assess your current situation, understand the different options available, build a plan, implement, and monitor the progress.
The items below are exactly the ones we help you address. These are the most important elements in building and having a safe and reliable retirement income:
Know what you need for retirement income
The first important financial statement everybody should pay attention to is an income statement. Said another way, your income statement is your budget. It outlines your expenses and your income. In order to know what you need, you have to ask yourself the hard questions of what you would like retirement to look like. Will you travel? Will you buy an RV? How often will you travel? These questions among others help to answer the question of how much you will need in retirement income.
know your current financial situation
The second most important financial statement is your balance sheet. Your balance sheet is a snapshot of your assets and liabilities. From these two items, you know your financial net worth. This will help to determine if you have enough to retire. Will your assets provide the amount of income you want? Do you need to save more? Can you retire today? Can you retire three years from now? Your balance sheet will help in shaping the necessary items in your financial plan.
know the different investment options
Not all investment strategies and investments are created equally. Some have guarantees, some are safer, and some are purely speculative. It is important to know the pros and cons to the different choices since these are the tools that will be used to get you the income you want for retirement income. After understanding the different options available, you can start the process of eliminating the choices that you will absolutely not consider regardless of potential.
have a plan and implement it
After you know what you want, know what you have, and know the vehicles that can help you along the journey, you can start to build a plan around your income objectives and current situation. You will want to take into consideration the different risks such as inflation, principle risk, and healthcare costs. Once you have the plan, it will be important to monitor and make adjustments as needed.
Social Security
When should you take Social Security?Should you start social security at full-retirement? Is it better to wait until 70? What is file and suspend? Is that a good option? How can I maximize my spouses and my social security benefit together?
It seems that the options for Social Security benefits are getting more and more difficult to understand. Even when talking to ‘representatives’ of Social Security, many times they are not familiar with all of the options available. Furthermore, they provide little or no guidance. To complicate things even further, the best selection of Social Security benefits can be dramatically different when a spouse is eligible or if either your spouse or you are subject to the Windfall Elimination Provision. We work with you to help clear up the complexities of Social Security Do you want to know you made the right decision when it comes to Social Security? Know your options. You have earned the right. We can help you decipher your options so you can make the best decision for your family and you. Take the most advantage of the social security benefit available to you. Specifically, we can help you with the following: |
Researching the options available
The first step is to determine what you are eligible for. We can do this by viewing a recent Social Security statement as well as any other pension eligibility that may hinder your family’s benefit. review the consequences of each option
Once we know what options are available to all those involved, we can go to work on showing you the benefits associated with those different options. avoid the common pitfalls many recipients make
After you understand your options, you can make a good decision about what is best. We work with you to make sure you stay clear of the common mishaps that we often see. integrate the social security options with other income streams
Finally, it is important to know your bottom line income when it comes to retirement. We help you to structure your income in an efficient way that takes into account your other retirement funding vehicles. |
Creating an income plan to last throughout retirement is perhaps the single most important challenge retirees will face. It’s very likely to spend 30 years or more living in retirement without earned income.
We create a customized retirement income plan, encompassing all sources of income, for each one of our clients and no two plans are exactly alike. Let us get to work on a plan for you.
We create a customized retirement income plan, encompassing all sources of income, for each one of our clients and no two plans are exactly alike. Let us get to work on a plan for you.
Do you really need Long-Term Care Insurance?
How much does it cost? What if I purchase it and don’t need it? Long term care is not something that any of us want to think about. Unfortunately, it is a reality that many of us will encounter whether it be personally or with a family member. The worst thing someone could do is NOT consider the consequences of having to go into a nursing home.
Long term care insurance is not a necessity for everyone. Some people can self-insure. Nursing home costs can range from 4,000 to over 12,000 per month depending upon the facility and the level of care needed. If you have enough income to cover the costs of care, obviously long term care insurance might not make sense unless you are wanting to leverage your protection and leave the income for a spouse.
We work with our clients to understand what exactly they want to have covered, what is reasonable, and what is necessary
Knowing this, we can start to weed through the policies that have the best potential for success. Ultimately we want to help clients make sure they completely understand the different options and find solutions that make the most financial sense.
At the highest level, you have three different ways to hedge yourself against potential costs of long term care:
Long term care insurance is not a necessity for everyone. Some people can self-insure. Nursing home costs can range from 4,000 to over 12,000 per month depending upon the facility and the level of care needed. If you have enough income to cover the costs of care, obviously long term care insurance might not make sense unless you are wanting to leverage your protection and leave the income for a spouse.
We work with our clients to understand what exactly they want to have covered, what is reasonable, and what is necessary
Knowing this, we can start to weed through the policies that have the best potential for success. Ultimately we want to help clients make sure they completely understand the different options and find solutions that make the most financial sense.
At the highest level, you have three different ways to hedge yourself against potential costs of long term care:
The first long-term care insurance option is called asset based
This type of long term care policy uses a multiplier (depending upon age & health) to determine how much coverage can be purchased. For example, you deposit $50,000 into this type of long term care policy and it generates a $120,000 worth of coverage in the event of needing long term care. This type of policy can work for those with idle assets in which they want the coverage but complete liquidity at the same time.
the second type of long-term care is life insurance based
This type of policy is in fact a life insurance policy with a long term care rider. The insured of the policy can use a percentage of the benefit base for the expense of long term care or a certain payment for long term expenses is guaranteed. An example would be to purchase a $500,000 policy which would guarantee a monthly payment of $5,000 per month for two years for the purpose of long term care.
the third type of coverage would be outright purchase of a strictly long-term care policy
A periodic premium is associated with the policy that covers a certain payment if need be for the long term care. These are probably the types of policies that most people think of when they think of long term care insurance. An example would be that you pay $3,000 per annum for a policy that would generate $6,000 of income for the cost of long term care expenses if need be.
Each of the above ways have advantages and disadvantages. Each of them can make sense depending upon objectives and circumstances. Furthermore, each of them (and all policies) have different qualification requirements so it is important to know how you would actually qualify to receive the benefit. Some policy qualifications are very lax while others dictate what type of facility is required.
Each of the above ways have advantages and disadvantages. Each of them can make sense depending upon objectives and circumstances. Furthermore, each of them (and all policies) have different qualification requirements so it is important to know how you would actually qualify to receive the benefit. Some policy qualifications are very lax while others dictate what type of facility is required.
Life Insurance
Align your Life Insurance with your financial objectives
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Long-term care/extended care costs have gone up substantially in the last 10 years. Unfortunately, the statistics are not in our favor, so a plan to address these astronomical costs should be included in every solid retirement strategy.
The good news is we work with hybrid insurance plans that leverage your dollar in case you need it for extended care, but remain 100% accessible for withdrawal if you don’t.
The good news is we work with hybrid insurance plans that leverage your dollar in case you need it for extended care, but remain 100% accessible for withdrawal if you don’t.