Retirement

Retirement Planning

Its YOUR future, control it

You’ve worked hard your entire life, making sure your family was financially secure, that they had everything they needed. You missed a lot of precious time with them throughout the years to insure they had a roof over their heads, clothes on their backs and food on the table. Now that you are getting ready to retire, its your time to spend that quality time with family and friends. To see the world and make great adventures with the person or people you love the most.

Question is: DO YOU HAVE ENOUGH MONEY TO DO THAT?

For many people the answer is NO! The reason is bad investments, maybe their employment didn’t offer a proper 401K plan. Could be many different reasons. The key to retirement planning isn’t waiting till you retire to start, its starting when you are younger.

The more money you put away and the more years of interest you earn, the better off financially you will be to live those dream vacations and make sure you still have that roof over your head. Thats where I come in to help.

Products and Services

Annuities

An annuity is a financial product that provides a steady income stream, typically for retirement. You pay a lump sum or a series of payments to an insurance company. Your money grows tax-deferred over time. Some annuities offer investment options, while others provide a guaranteed growth rate. You can convert the annuity into periodic payments that can last for a specific period or for your lifetime. This can start immediately or at a future date. There are a variety of annuity options which all should be looked at so you can choose what’s right for you. There are fixed, variable, immediate, deferred, and indexed.

IRA / Roth IRA

An IRA, or Individual Retirement Account, is a type of personal retirement savings account that provides tax benefits for saving for retirement. Contributions might be tax-deductible depending on your income, employment status, and whether you or your spouse are covered by a retirement plan at work. Earnings grow tax-deferred; you pay taxes on withdrawals in retirement. Withdrawals in retirement are taxed as ordinary income. There are penalties for withdrawals before age 59½, with some exceptions. A Roth IRA contributions are made with after-tax dollars, no immediate tax deduction. Qualified withdrawals in retirement, including earnings, are tax-free. No mandatory withdrawals at any age; contributions can be withdrawn anytime tax-free and penalty-free, but earnings withdrawn before certain conditions are met might be taxed or penalized. You can start an IRA at any age. There are annual limits on how much you can contribute to IRAs, which are adjusted for inflation each year. For example, in 2023, the limit was $6,500, with an additional $1,000 catch-up contribution for those 50 and older.

College Savings Plans

College savings plans are designed to help families save for future education expenses in a tax-advantaged way. These state-sponsored plans allow you to save for future educational expenses with tax benefits. Earnings grow tax-free, and qualified withdrawals for education expenses (tuition, fees, books, room and board) are not taxed at the federal level. Some states also offer tax deductions or credits for contributions. Funds can be used at any accredited college, university, or vocational school in the U.S., and some plans allow for use at foreign institutions. You can also use up to $10,000 per year per beneficiary for K-12 tuition in some states. The account owner retains control, can change the beneficiary, and can even roll over unused funds into a Roth IRA under certain conditions set by SECURE 2.0 (up to $35,000 lifetime maximum).

Travel Insurance

When we retire we want to experience the things that we missed during our working years. We want to experience the world with our loved ones, visit the family and grand kids. This is where travel insurance can play an important role in protecting your trip from unexpected delays, lost luggage and so many other potential scenarios. Travel safe, and with a peace of mind knowing you are covered if something arry happens.

LegalShield/IDShield

Another blow to ones retirement can be legal issues and/or identity theft. Every day hundreds of thousands of bank accounts and credit cards are hacked and fraud committed against. The ways hackers obtain this information can be a simple call to where they pretend to be someone and you innocently give them the info they want to something more complex like hacking your info through third party sites you do business with or scanners installed at gas pumps. The point is, its out there and just about everyone has been a victim.

One single hack could literally cost you everything. Thats why its important to protect it. Thats where IDShield comes into play. For a small monthly fee we can protect your e mail, your bank accounts and credit cards and so much more, and any account included in your IDShield app will be protected and reimbursed.

Another product we can help protect your retirement is LegalShield. Here you will have the power of a lawyer in the palm of your hand 24/7 that can review contracts, deeds, help you out of speeding tickets and be there should you get arrested or something more serious. You can set up a will to protect your estate and/or a trust just by using this app, which will save you THOUSANDS in legal fees. Wouldn’t you rather pay those thousands to a dream vacation with you and your spouse (maybe kids and friends) than into the pocket of a lawyer! I would think so. If they need to refer the matter out you get a 15% LegalShield discount on that lawyers fee.