Retirement Income Planning
Are you sure you won’t outlive your income in retirement?
No two careers follow the same trajectory. Following that, no two retirements are quite the same, either. Everyone will have different goals, needs, and strategies.
I will take the time to listen to your needs and formulate a plan to take you from the accumulation phase of your life to the distribution phase. According to one study, 43% of people in America aren’t afraid of being bored, unable to travel, or dying in retirement—their #1 fear is outliving their money.¹ That number jumps to 60% when you look at Baby Boomers. These fears, according to the data, are justified: People in their 50s have only saved an average of $117,000 for retirement. Experts say a “healthy” retirement savings account would have something like six times a person’s current salary.¹ This disparity, to say the least, is striking.
Whatever your plan, and whatever your retirement goals, my firm could help you put together a retirement income plan. I'm ready to listen; I'm ready to lend our experience.
Retirement Income Planning
Are you sure you won’t outlive your income in retirement?
No two careers follow the same trajectory. Following that, no two retirements are quite the same, either. Everyone will have different goals, needs, and strategies.
I will take the time to listen to your needs and formulate a plan to take you from the accumulation phase of your life to the distribution phase. According to one study, 43% of people in America aren’t afraid of being bored, unable to travel, or dying in retirement—their #1 fear is outliving their money.¹ That number jumps to 60% when you look at Baby Boomers. These fears, according to the data, are justified: People in their 50s have only saved an average of $117,000 for retirement. Experts say a “healthy” retirement savings account would have something like six times a person’s current salary.¹ This disparity, to say the least, is striking.
Whatever your plan, and whatever your retirement goals, my firm could help you put together a retirement income plan. I'm ready to listen; I'm ready to lend our experience.
¹ Catey Hill, “Older People Fear This More than Death,” MarketWatch, accessed July 24, 2019, https://www.marketwatch.com/story/older-people-fear-this-more-than-death-2016-07-18.
Retirement Income Planning
Are you sure you won’t outlive your income in retirement?
No two careers follow the same trajectory. Following that, no two retirements are quite the same, either. Everyone will have different goals, needs, and strategies.
I will take the time to listen to your needs and formulate a plan to take you from the accumulation phase of your life to the distribution phase. According to one study, 43% of people in America aren’t afraid of being bored, unable to travel, or dying in retirement—their #1 fear is outliving their money.¹ That number jumps to 60% when you look at Baby Boomers. These fears, according to the data, are justified: People in their 50s have only saved an average of $117,000 for retirement. Experts say a “healthy” retirement savings account would have something like six times a person’s current salary.¹ This disparity, to say the least, is striking.
Whatever your plan, and whatever your retirement goals, my firm could help you put together a retirement income plan. I'm ready to listen; I'm ready to lend our experience.
Retirement Income Planning
Are you sure you won’t outlive your income in retirement?
No two careers follow the same trajectory. Following that, no two retirements are quite the same, either. Everyone will have different goals, needs, and strategies.
I will take the time to listen to your needs and formulate a plan to take you from the accumulation phase of your life to the distribution phase. According to one study, 43% of people in America aren’t afraid of being bored, unable to travel, or dying in retirement—their #1 fear is outliving their money.¹ That number jumps to 60% when you look at Baby Boomers. These fears, according to the data, are justified: People in their 50s have only saved an average of $117,000 for retirement. Experts say a “healthy” retirement savings account would have something like six times a person’s current salary.¹ This disparity, to say the least, is striking.
Whatever your plan, and whatever your retirement goals, my firm could help you put together a retirement income plan. I'm ready to listen; I'm ready to lend our experience.
¹ Catey Hill, “Older People Fear This More than Death,” MarketWatch, accessed July 24, 2019, https://www.marketwatch.com/story/older-people-fear-this-more-than-death-2016-07-18.
Insurance Strategies
Insurance Strategies
Insurance is a term people often use but not one they always understand. For customers, insurance companies offer a contract (known as a policy) whereby an individual or corporation receives a promise of reimbursement against possible losses in exchange for a premium. Insurance companies pool risk this way; that means that, in the event an insurance company has to pay out a claim, the company is still bringing in revenue.¹
There are several types of insurance. Some of them—like life insurance—are straightforward. Yet, even in life insurance, there are many things to consider, like term vs. whole life. Other types of insurance, such as fixed indexed annuity contracts, might require even more explanation. You can buy insurance for your car, home, boat, or business. You can also buy insurance for things like needing long-term care in retirement, liability insurance for your business, disability insurance for your profession, and Medicare gap coverage.
People often talk about insurance as “protection,” but it’s really a form of risk mitigation. It ensures that, no matter what twists and turns come with life, clients don’t face their risks flat-footed. Nothing can protect you from risk. However, with a thoughtful, proactive, and detailed insurance plan (as part of a comprehensive income plan), you may find yourself with more options than you would have had without insurance.
Insurance is a term people often use but not one they always understand. For customers, insurance companies offer a contract (known as a policy) whereby an individual or corporation receives a promise of reimbursement against possible losses in exchange for a premium. Insurance companies pool risk this way; that means that, in the event an insurance company has to pay out a claim, the company is still bringing in revenue.¹
There are several types of insurance. Some of them—like life insurance—are straightforward. Yet, even in life insurance, there are many things to consider, like term vs. whole life. Other types of insurance, such as fixed indexed annuity contracts, might require even more explanation. You can buy insurance for your car, home, boat, or business. You can also buy insurance for things like needing long-term care in retirement, liability insurance for your business, disability insurance for your profession, and Medicare gap coverage.
People often talk about insurance as “protection,” but it’s really a form of risk mitigation. It ensures that, no matter what twists and turns come with life, clients don’t face their risks flat-footed. Nothing can protect you from risk. However, with a thoughtful, proactive, and detailed insurance plan (as part of a comprehensive income plan), you may find yourself with more options than you would have had without insurance.
¹ “Insurance: The Complete Guide,” Investopedia, accessed February 27, 2020, https://www.investopedia.com/insurance-4427716.
Insurance Strategies
Insurance Strategies
Insurance is a term people often use but not one they always understand. For customers, insurance companies offer a contract (known as a policy) whereby an individual or corporation receives a promise of reimbursement against possible losses in exchange for a premium. Insurance companies pool risk this way; that means that, in the event an insurance company has to pay out a claim, the company is still bringing in revenue.¹
There are several types of insurance. Some of them—like life insurance—are straightforward. Yet, even in life insurance, there are many things to consider, like term vs. whole life. Other types of insurance, such as fixed indexed annuity contracts, might require even more explanation. You can buy insurance for your car, home, boat, or business. You can also buy insurance for things like needing long-term care in retirement, liability insurance for your business, disability insurance for your profession, and Medicare gap coverage.
People often talk about insurance as “protection,” but it’s really a form of risk mitigation. It ensures that, no matter what twists and turns come with life, clients don’t face their risks flat-footed. Nothing can protect you from risk. However, with a thoughtful, proactive, and detailed insurance plan (as part of a comprehensive income plan), you may find yourself with more options than you would have had without insurance.
¹ “Insurance: The Complete Guide,” Investopedia, accessed February 27, 2020, https://www.investopedia.com/insurance-4427716.
Insurance is a term people often use but not one they always understand. For customers, insurance companies offer a contract (known as a policy) whereby an individual or corporation receives a promise of reimbursement against possible losses in exchange for a premium. Insurance companies pool risk this way; that means that, in the event an insurance company has to pay out a claim, the company is still bringing in revenue.¹
There are several types of insurance. Some of them—like life insurance—are straightforward. Yet, even in life insurance, there are many things to consider, like term vs. whole life. Other types of insurance, such as fixed indexed annuity contracts, might require even more explanation. You can buy insurance for your car, home, boat, or business. You can also buy insurance for things like needing long-term care in retirement, liability insurance for your business, disability insurance for your profession, and Medicare gap coverage.
People often talk about insurance as “protection,” but it’s really a form of risk mitigation. It ensures that, no matter what twists and turns come with life, clients don’t face their risks flat-footed. Nothing can protect you from risk. However, with a thoughtful, proactive, and detailed insurance plan (as part of a comprehensive income plan), you may find yourself with more options than you would have had without insurance.
Social Security Strategies
Social Security Strategies
Social Security is the United States’ federal “Old Age, Survivors, and Disability Insurance” (OASDI) program. It’s overseen by the Social Security Administration. The program is complicated, but essentially, if someone has paid into the program for 10 years or more, they’re eligible to receive benefits starting at the age of 62. If a person chooses to defer their Social Security, though, they’re eligible to receive a higher monthly benefit. This means some people wait until 67 or even 70 before they begin drawing on Social Security. Everyone will have a different plan depending on their income needs and specific situation.
There are also options for survivors benefits and disability benefits available through Social Security to qualifying participants. The program—in effect since August 14, 1935—has changed over the years to continue to provide security for retirees. Because it’s an old program, and because the rules have been changed many times and grown in complexity, it is important you speak to a professional who could help you map out what you can expect from the program (as well as what you can’t count on).
Call Kevin. He is versed in the complicated and upsides of the Social Security program!
Social Security is the United States’ federal “Old Age, Survivors, and Disability Insurance” (OASDI) program. It’s overseen by the Social Security Administration. The program is complicated, but essentially, if someone has paid into the program for 10 years or more, they’re eligible to receive benefits starting at the age of 62. If a person chooses to defer their Social Security, though, they’re eligible to receive a higher monthly benefit. This means some people wait until 67 or even 70 before they begin drawing on Social Security. Everyone will have a different plan depending on their income needs and specific situation.
There are also options for survivors benefits and disability benefits available through Social Security to qualifying participants. The program—in effect since August 14, 1935—has changed over the years to continue to provide security for retirees. Because it’s an old program, and because the rules have been changed many times and grown in complexity, it is important you speak to a professional who could help you map out what you can expect from the program (as well as what you can’t count on).
Call Kevin. He is versed in the complicated and upsides of the Social Security program!
¹ | Julia Kagan, “Social Security,” Investopedia, accessed March 2, 2020, https://www.investopedia.com/terms/s/socialsecurity.asp.
Social Security Strategies
Social Security Strategies
Social Security is the United States’ federal “Old Age, Survivors, and Disability Insurance” (OASDI) program. It’s overseen by the Social Security Administration. The program is complicated, but essentially, if someone has paid into the program for 10 years or more, they’re eligible to receive benefits starting at the age of 62. If a person chooses to defer their Social Security, though, they’re eligible to receive a higher monthly benefit. This means some people wait until 67 or even 70 before they begin drawing on Social Security. Everyone will have a different plan depending on their income needs and specific situation.
There are also options for survivors benefits and disability benefits available through Social Security to qualifying participants. The program—in effect since August 14, 1935—has changed over the years to continue to provide security for retirees. Because it’s an old program, and because the rules have been changed many times and grown in complexity, it is important you speak to a professional who could help you map out what you can expect from the program (as well as what you can’t count on).
Call Kevin. He is versed in the complicated and upsides of the Social Security program!
¹ | Julia Kagan, “Social Security,” Investopedia, accessed March 2, 2020, https://www.investopedia.com/terms/s/socialsecurity.asp.
Social Security is the United States’ federal “Old Age, Survivors, and Disability Insurance” (OASDI) program. It’s overseen by the Social Security Administration. The program is complicated, but essentially, if someone has paid into the program for 10 years or more, they’re eligible to receive benefits starting at the age of 62. If a person chooses to defer their Social Security, though, they’re eligible to receive a higher monthly benefit. This means some people wait until 67 or even 70 before they begin drawing on Social Security. Everyone will have a different plan depending on their income needs and specific situation.
There are also options for survivors benefits and disability benefits available through Social Security to qualifying participants. The program—in effect since August 14, 1935—has changed over the years to continue to provide security for retirees. Because it’s an old program, and because the rules have been changed many times and grown in complexity, it is important you speak to a professional who could help you map out what you can expect from the program (as well as what you can’t count on).
Call Kevin. He is versed in the complicated and upsides of the Social Security program!
Insurance Strategies
Insurance is a term people often use but not one they always understand. For customers, insurance companies offer a contract (known as a policy) whereby an individual or corporation receives a promise of reimbursement against possible losses in exchange for a premium. Insurance companies pool risk this way; that means that, in the event an insurance company has to pay out a claim, the company is still bringing in revenue.¹
There are several types of insurance. Some of them—like life insurance—are straightforward. Yet, even in life insurance, there are many things to consider, like term vs. whole life. Other types of insurance, such as fixed indexed annuity contracts, might require even more explanation. You can buy insurance for your car, home, boat, or business. You can also buy insurance for things like needing long-term care in retirement, liability insurance for your business, disability insurance for your profession, and Medicare gap coverage.
People often talk about insurance as “protection,” but it’s really a form of risk mitigation. It ensures that, no matter what twists and turns come with life, clients don’t face their risks flat-footed. Nothing can protect you from risk. However, with a thoughtful, proactive, and detailed insurance plan (as part of a comprehensive income plan), you may find yourself with more options than you would have had without insurance.
All written content on this site is for information purposes only. Opinions expressed herein are solely those of IPG Financial and our editorial staff. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual financial professional prior to implementation. Insurance products and services are offered through IPG Financial. IPG Financial and Kevin Smith are not affiliated with or endorsed by the Social Security Administration or any other government agency. This content is for informational purposes only and should not be used to make any financial decisions.