Retirement Planning & Maintenance
Why Retirement Planning is Important
Many of us want to enjoy our retirement, and in order to do that you need to do some planning. Without proper planning it can be easy to:
Safe Money Snapshots Client Guide
This consumer's guide covers topics including: avoiding scams, return arithmetic, and the different Safe Money Options such as savings bonds or fixed annuities.
Way back in December, 1993, Cornell University’s Science News calculated that over ten trillion dollars in wealth would change hands by the year 2040, with about 115 million bequests averaging more than $ 90,000 each! With the up-tick in our recent markets, who knows what those numbers really are today?
When considering wealth transfer, most Americans want to know that no matter the size of their estate, their assets will move to the people they choose at the lowest possible rate of taxation and at the highest rate of interest earned throughout the life of the products they have purchased, with little or no risk. Consumers should also understand that a Single Premium Life product could be one of the most efficient wealth transfer vehicles available.
Today, you have many types of products from which to choose that will work: Universal Life, Indexed Life, or Whole Life.
Since most of the inheritors are in the middle class, they are not candidates for and don’t need sophisticated estate planning.
However, whether or not estate taxes will be a factor in your wealth transfer planning, income taxes can have a huge effect. Single Premium Life products take advantage of current tax laws.
They provide you (the insured) with a lump sum of money to increase the size of your estate and then pass the proceeds – federal income tax-free – to your heirs while bypassing probate!