YOU are our PRIORITY. Our company is based on the principle that our complete understanding of YOU and your current financial situation is vital to successfully making prudent decisions concerning your future financial condition.
- College Planning
- Elder Planning
- Estate Planning
- Retirement Planning
- Social Security Optimization
Annuities: an annuity is an amount of money payable yearly or at other regular intervals.
There are many different annuities, such as variable, fixed, and indexed. Whether an annuity is the right financial vehicle for you, and which one may be right for you, depends on a variety of factors.
They are uniquely designed to offer the potent combination of protection, tax deferral and guaranteed income during retirement.
College planning: can be managed with properly planned funding
We understand the specific financial challenges of funding higher education
We’ll work with you to develop clear action plan for financing your child’s college taking into consideration that the cost of tuition, fees, room and board rises yearly
A couple of sobering statistics - in the past 40 years, the cost of room and board at a private university has doubled and, when adjusted for inflation, the cost of tuition and fees has tripled
Yes, the cost of college may seem trying. However, the proper planning and suitable advice that you’ll receive from us can help you handle the financial burden of college
Elder Planning: caring for aging relatives is much more common and the cost can be staggering. It goes without saying that advanced planning is the only way to go. We can help with:
Continuing to maintain and build wealth
Leaving a family legacy
Helping you to avoid asset spend-down by utilizing the proper trusts, as well as showing you how to be Medicaid-friendly Designing wills
Estate Planning: We can help create legacies for the benefit of future generations and can also answer questions about the following.
Appointment of a guardian for any dependent or special-needs children as well as a successor guardian.
A will stating your final wishes – keep in mind that without a will probate court makes these decisions for you.
Naming an executor of your estate.
A financial power of attorney, also called a durable power of attorney, allows your designated POA to manage your financial affairs should you become incapacitated.
A health-care power of attorney: enables your chosen representative to making medical decisions should you be unable to do so.
A living will, which can prohibit extraordinary medical procedures in treating irreversible illness.
Gifts plans of property or money for favorite charities.
Life insurance: term, whole, dental, disability.
Long Term Care: as people are living longer, LTC insurance has become more and more necessary. It addresses the potential threat of long-term care expenses as one of the biggest financial challenges for individuals who are developing a retirement strategy. So understanding the various types of long-term care services – and what those services may cost – is critical as you consider your retirement approach.
Often, long-term care is provided by friends and family. Providing care can be a burden, however, and the need for assistance tends to increase with age. Individuals who would rather not burden their family and friends have two main options for covering the cost of long-term care: they can choose to self-insure or they can purchase long-term care insurance.
Individuals who would rather not burden their family and friends have two main options for covering the cost of long-term care: they can choose to self-insure or they can purchase long-term care insurance.
Many self-insure by default – simply because they haven’t made other arrangements. Those who self-insure may depend on personal savings and investments to fund any long-term care needs. The other approach is to consider purchasing long-term care insurance, which can cover all levels of care, from skilled care to custodial care to in-home assistance.
When it comes to addressing your long-term care needs, many look to select a strategy that may help them protect assets, preserve dignity, and maintain independence. If those concepts are important to you, consider your approach for long-term care.
Retirement planning: Every stage of retirement is important and the knowledge of your options is paramount to making beneficial decisions. An educated client is a source of pride for our practice, as it allows all decisions and plans to truly be by the client. This includes, but is not limited to - distribution planning, building/preserving client wealth, determining what level of resources will be necessary for you to retire, what needs to be done to accomplish that goal, how to most effectively use accumulated retirement assets. Different strategies will be explored to discover how to maximize the collection of social security benefits. We will also evaluate different payout options, if you are eligible for a pension.
- Distribution planning: We can discuss how and when to access your assets after retirement (before or after 59 ½). We can work together develop a strategic approach to fund your cash flow needs, so that paying bills is not a worry.
- Pension maximization: After a thorough review of your pension payout options, we will recommend ways to use the pension most effectively. For instance - lump sum v. annuity: many companies offer a choice between a one-time, lump-sum payment or a monthly annuity. Which payout plan is best for you depends on your retirement circumstances.
Social security optimization: an important aspect of your retirement planning.
While it may be tempting to accept your Social Security benefits as soon as they’re available to you, that plan may not be the best course of action. If taken at age 62, your full retirement age amount is cut by 30%. Waiting until full retirement age may be more beneficial. We can help you calculate the different amounts depending on the age you decide to begin.
How long you wait to claim Social Security can depend on a variety of factors: accumulated retirement funds, life expectancy, cash flow, and spousal age gap. Due to these variables, we’ll help design a strategy that you’re your unique financial situation.
Taxes: tax strategies and planning
Tax strategies/planning are very important for our clients. Everyone pays taxes. We like to make sure that our clients have plenty of funds left after taxes are paid. We’ll also work with your accountant to strategize deferring income taxes, leveraging gifting tactics, and evaluating the post-tax impact of any retirement distribution decisions. Taking your entire financial life plan into account will only benefit you as you move through