What We Do

Retirement income plans are not just for the wealthy. As you near retirement, the traditional strategy has been to move growth-seeking products to more conservative fixed-income products. This may have worked fine back when retirement was only expected to last five to ten years. These days, however, people are living longer. It’s not unusual for someone retiring at age 65 to live to age 90 or longer. You should consider that you may need to plan for your nest egg to potentially last 25 to 30 years.

Time doesn’t stand still, and neither does money. That’s why you can use time to your advantage for wealth accumulation. The longer you invest, the more time your money has to compound interest. However, given recent lessons learned in stock market investing, it is important to remember that more conservative retirement plans typically have only a portion of the assets invested in risky areas. Other allocations should be set aside for more conservative investments and/or secured income contracts. After all, the last thing you want to do is lose wealth during the next market correction.

When it comes to your financial future in retirement, knowledge is the critical first step. We strive to help you make informed retirement financial decisions about days ahead to protect your assets. We believe as we get older we should be safer with our money and assets and protect them. We believe like Will Rodgers said, “It is the return of our money that is more important in retirement than the return on our money.” Protecting your assets in retirement can provide retirement peace of mind.

In the US, we have entered an environment of rising taxes. That’s why it’s important now, more than ever before, to incorporate tax planning into your retirement portfolio and all of your financial decisions. Investing in a tax-deferred vehicle means your money will compound interest for years, unfettered by income taxes, allowing it to earn interest at a faster rate. While very few investments avoid taxes altogether, many allow you to defer paying them until retirement – when you may be in a lower tax bracket.

As the oldest Baby Boomers begin to wind through their 70s, one of the biggest concerns may not be outliving income, but outliving good health. For seniors, home health care can cost $50,000 or more per year(1), and nursing home care can run as high as $80,000(2). Does your retirement plan account for this kind of possibility? Would you be prepared for twice that number as a married couple?

Considering that you have to exhaust virtually all of your financial means before Medicaid will pay for long-term care and neither your group nor major medical insurance will cover long-term care, it’s critically important to plan ahead and protect yourself from these costly expenses.

• Genworth Cost of Care Survey, 2010
• MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs, 2009

Estate planning is simply determining (while you’re still alive) where your assets should go after you die. Without a properly structured estate plan, your wishes may not be fulfilled, and your loved ones could be hurt both emotionally and financially.

While the concept is simple, the vehicles, planning and implementation process can be rather complex. Because of the constantly changing estate tax laws and emerging vehicles to help you protect and transfer your assets effectively, it’s important to work with experienced estate planning professionals who stay current in this field and advise clients on a day-to-day basis.

IRA accounts have become one of the largest types of assets inherited by beneficiaries. If you don’t anticipate needing your IRA money in retirement, you may wish to consider a legacy planning strategy to reduce taxes and increase the payout your beneficiaries will inherit upon your death.

A properly structured IRA may provide your beneficiary(ies) a regular stream of income while leaving the balance of IRA assets invested for tax-deferred growth. The result may yield substantially more money paid out over the course of your beneficiary’s lifetime. We can help you evaluate your financial scenario to determine if IRA legacy planning may be the best means for ensuring a long-lasting inheritance for your heirs.

There are many different types of trusts, and they can be complex to set up and execute. However, a trust can be a very flexible and an advantageous means to transfer your assets in the future. Most trusts also provide current benefits, such as tax deferral and deductions. Unlike a will, a trust will avoid probate upon your death. To learn more about trusts and how they may benefit you, we have a qualified estate planning attorney that specializes in these matters.