Services
Retirement Strategies
Most individuals in or near retirement have three sources of income to support them in retirement: Social Security, Qualified Savings, and Non-Qualified Savings. The proper coordination of these three money categories can produce as much as 20% more in after-tax income and improve retirement lifestyles without the need for risky investments or additional money. Coordinating these money sources is extremely important for married couples because one spouse could end up living as much as one third of their lifetime in retirement. We can help you to properly and safely position and coordinate your income resources to improve your retirement lifestyle.
Traditional IRAs
The Employee Retirement Income Security Act (ERISA) created the Traditional IRA. An IRA is a personal retirement savings plan funded by an annuity or a trust that meets certain requirements. If you are under the age of 70 ½ and have earned income, you are eligible to open an IRA (note: you must not reach the age of 70 ½ by the end of the calendar year in which you want to make the contribution). Deductibility of contributions is subject to whether or not you are an active participant in an Employer Sponsored Retirement Plan< and income limitations (adjusted gross income).
ROTH IRAs
The Taxpayer Relief Act of 1997 created the ROTH IRA. ROTH IRAs are funded with after-tax dollars and grow tax-deferred. All future withdrawals are TAX-FREE once the account has been open for five years and the participant has reached 59 ½ years old or older. Unlike a Traditional IRA, there are NO requirements to take distributions from the ROTH during your lifetime. In addition, stretch provisions can provide some very powerful benefits for the beneficiaries of these accounts. Eligibility to open an account is subject to adjusted gross income limits.
Savings
We can provide a number of options for growing your money (both qualified and non-qualified) to meet future obligations.
Life, Disability, Long-term Care Insurance
We represent multiple top rated insurance carriers. We can shop for the best rates, contracts, and products specific to your needs and circumstances. We will help you to understand these contracts and guide you to the best solutions for your individual needs. If you have existing insurance, we would be happy to review your policies. We may be able to save you money and/or improve benefits. There have been some very substantial changes to individual contracts over the last few years, so a general review could be advantageous to you.