Saturday, November 29, 2014

The Bucket List of Retirement



Syndicated financial columnist and talk show host interviews author, platform speaker, MDRT and Top of the Table producer Curtis Cloke on the retirement bucket list.

Curtis talks about managing taxes in retirement to generate more net after tax income for more cash flow in retirement. The order of distributions from each bucket really matters in spendable income in retirement. There are significant planning strategies that can deliver greater income for retirement.

Curtis talks about "everyday is Sunday," describing the experience of retirement. Most retirees enjoy the "honeymoon period" at the front end of retirement, but then they long for a sense of purpose, an activity that brings real meaning their lives.

Saturday, November 22, 2014

Required Minimum Distributions in Retirement

Required Minimum Distribution are mandatory at age 70 1/2 for all qualified plans. This new QLAC (Qualified Longevity Annuity Contract) product allows a deferral of distributions up to 25% of qualified plan holdings not to exceed $125,000 per retiree to age 85.

This new regulation could dramatically change your retirement planning and may save retirees tax dollars by delaying their require minimum distributions. The deferral aspect on accumulations may be dramatic, especially if the retiree lives past life expectancy.

Syndicated financial columnist and talk show host Steve Savant interviews annuity product expert Mike McGlothlin on the impact of qualified longevity annuity contracts.

Saturday, November 15, 2014

How Long Term Care Can Stretch Your Retirement Dollars

Living a longer, active life in retirement is far different today than it was in the 40’s or 70’s. Life expectancies were shorter. Social Security played a much different role in retirement then than it does today. You have worked hard to secure a healthy nest egg; you deserve to protect it and to protect your lifestyle. Insurance options today, just like social security, are vastly different than they were decades ago. If you have stayed away from Nursing home insurance, congratulations! That’s old news and no one wants to go to a nursing home. What’s available today is Care Insurance and it comes in many forms. Gone are the days of one type of insurance. Many consumers today are gravitating to solutions that cover multiple risks. Long term care, legacy assets, income stream….you design it as you want it. You can pick from life insurance or annuity strategies that cover any level of care you need!

If you have already made the decision to save rainy day funds for an emergency, you should know about the leveraging power your existing assets have to create a larger rainy day fund. A 60 female who has an income distribution of $10,000 a year can use that distribution to create nearly a $450,000 benefit for long term care. By making annual premiums for 10 years not only is a $450,000 ltc benefit available but if care is never needed the clients heirs will receive $150,000 in a life insurance benefit. Premiums are guaranteed never to go up and you have a return of premium guarantee once all payments are made. At age 70 a fully funded long term care solution, to be used in multiple settings!

Syndicated financial columnist and talk show host Steve Savant interviews nationally recognized long term care author and expert Maria Sarci.

Saturday, November 8, 2014

Why Long Term Care is Essential in Retirement

People are living longer. As recent as 2011 the average life expectancy was 80 years. There are 43 million Americans today over age 65. Currently, there are approximately 55,000 centenarians in the U.S., according to the U.S. Census Bureau. That number is projected to grow to 442,000 in 2050. According to a new study conducted by Caring.com, nearly half of family caregivers spend more than $5,000 a year on expenses associated with providing care. Of those spending more than $5,000, 16% are seeing costs of as much as $9,999 while 11% are spending as high as $19,999 and 5% are absorbing out of pocket expenses of as much as $49,999. There are two choices to make. Take on all of the risk of a longevity expense or shift some of that risk away. Go out and ask your financial advisor about what options you have to leverage your hard earned money and to protect your retirement. Protecting you retirement is as much about protecting your lifestyle as it is your financial wealth.

Why does LTC planning make financial sense? Using LTC Insurance, a $240,000 LTC pool of money is available today for a 60 female by paying annual premiums of $4500. In 20 years when that 60 year old is 80, the LTC pool would have grown to $450,000. If instead our 60 year old decided to invest her money so that in 20 years she has the same $450,000 of benefit available she would either have to ensure a 4% after tax return on a deposit of $187,000 or annual deposits of $13,000 a year for the next 20 years! To look at this another way, if our 60 year old female invests the $4,500 of premium she would have paid for a LTC policy over 20 years, she would essentially purchase 468 days worth of care. By shifting the risk to the insurance company, her $4,500 of premium actually creates 10x that amount or 1,460 days of care or 4 years’ worth of care available today!

Syndicated financial columnist and talk show host Steve Savant interviews nationally recognized long term care author and expert Maria Sarci.

About Steve Savant

Steve Savant

As the National Marketing Spokesperson for Ash Brokerage, Steve Savant looks forward to meeting financial professionals in every way possible - in person or by video through conferences and social media.

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