|
Retirement
Plans
Retirement
planning is essential to securing a level of
comfort for you and your family when you
retire. The most important steps to a happy
retirement are saving and investing your
money. After working for a long time, a big
rest is exactly what you need. Whether you
want to travel, pick up a new hobby, or just
relax in your retirement, it's important to
plan for those "golden years".
We
can help you plan for your retirement years
with a wide variety of investment vehicles and
insurance products as shown below:
IRAs
Individual
Retirement Accounts were established by the
federal government to encourage people to save
for their retirement by providing a variety of
tax advantages.
Traditional
IRA
Contributions
up to $2,000 annually may be deductible, and
your earnings are not taxed until you start
withdrawing money.
Roth
IRA
For
many people, a Roth IRA may offer greater tax
savings and withdrawal flexibility than a
traditional IRA. Eligibility depends on
income.
Simple
IRA
SIMPLE
IRA plans are retirement vehicles, maintained
on a calendar year basis, for small employers
(no more than 100 employees earning at least
$5,000 for the preceding year), which permits
contributions under a qualified salary
reduction agreement.
Annuities
Annuities
can provide a series of payments that
typically start at retirement and continue for
the rest of the contract owner's life.
Annuities can provide retirement income for
either a fixed period of time or for the rest
of an annuitant's life. Retirement income
payments can begin immediately with the
purchase of an annuity or be deferred to some
time in the future.
401(k)
A
401(k) plan allows you to postpone receiving a
portion of your salary until you retire. You
choose the amount of income you'd like to
"send to the future," or defer
annually.
Advantages
of a 401(k) include:
-
Chance
of lowering your income rate by deferring
a portion of your taxable income.
-
Ability
to access the money for certain situations
like buying a house, college fees, or in
some hardship situations.
-
Your
Social Security contributions and benefits
will not be impacted by your 401(k) plan.
-
Your
account is transferable-so you can take it
with you from job to job
Long
Term Care
Long-Term
Care has been defined as "medically
necessary assistance, recommended by a
physician for the treatment of a chronic
illness or debilitating injury on a long term
basis. Recovery is usually not expected. Care
is oriented toward helping a person function,
not toward a cure."
Long-term
care is typically not covered by your health
plan, disability coverage or Medicare.
Medicaid does cover long-term care, but only
after you have used up your assets paying for
care.
Contact
Us today for more information about
Retirement
|
