Posts Tagged ‘Safe Retirement Solutions’

Conducting A Review of Your Estate Plan

Monday, April 7th, 2014

Your estate plan is successfully implemented. Now you are done, right? Wrong. There is still one critical step that remains: carrying out a periodic review and update. This is important because, let’s face it, life is not predictable. Things change. People retire, people get divorced, people move, people die, laws change, the stock market fluctuates, and much more! And each one of these individual circumstances can have a major impact on your estate.retirement benefits

A periodic review can give you peace of mind. And how often should you conduct a review of your estate plan?

Large Estates: Those of you with large estates should review your estate plan annually.

Small Estates: Those of you with smaller estates should review your estate plan every five years, minimum.

Major Life Events: Aside from the above recommended reviews, you should also look at your estate plan after any major life event, including:

•      Changes in estate valuation

•      Economic changes

•      Changes in occupation or employment

•      Changes in family situations

•      Changes in your closely held business interest

•      Changes in the estate plan

•      Major transactions

•      Changes in insurance coverage

•      Death of trustee/executor/guardian

•      Other important changes

If you have any questions about what you have just read, or if you would like to know more about trusts and retirement planning, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

How Can I Achieve Financial Security?

Tuesday, February 18th, 2014

When it’s time for you to retire, will you be able to afford it? Almost all of the research conducted on the subject, over the last few years, shows that most individuals are unable to demonstrate financial readiness for their retirement years. This only serves to underline the fact that saving for retirement is a challenging process that requires careful planning and follow-through. Here we review some helpful tips that should help you on your way to a comfortable retirement.

Start as Soon as You Can
It is obvious that it is better to start saving at an early age, but it is never too late to start – even if you are already close to your retirement years – because every penny saved helps to cover your expenses.

Treat Your Savings as an Expense
Saving on a regular basis can be a challenge, especially when you consider the many regular expenses we all face, not to mention the enticing consumer goods that tempt us to spend our disposable cash. You can guard amounts you want to add to your nest egg from this temptation by treating your retirement savings as a recurring expense, similar to paying rent, mortgage or a car loan.

Diversify Your Portfolio
The old adage that tells us that we shouldn’t put all of our eggs in one basket holds true for retirement assets. Putting all your savings into one form of investment increases the risk of losing all your investments, and it may limit your return on investment (ROI). As such, asset allocation is a key part of managing your retirement assets

Consider All of Your Potential Expenses in Your Financial Plan
When planning for retirement, some of us make the mistake of not considering expenses for medical and dental costs, long-term care and income taxes. When deciding how much you need to save for retirement, make a list of all the expenses you may incur during your retirement years. This will help you to make realistic projections and plan accordingly.

Budget
Saving a lot of money is great, but the benefits are eroded or even nullified if it means you have to use high-interest loans to pay your living expenses. Therefore, preparing and working within a budget is essential. Your retirement savings should be counted among your budgeted recurring expenses in order to ensure that your disposable income is calculated accurately.

Work with an Experienced Financial Planner
Unless you are experienced in the field of financial planning and portfolio management, engaging the services of an experienced and qualified financial planner will be necessary.

About Safe Retirement Solutions

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

If you have any questions or want to know more about what we can do for you, please contact Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

You can also follow Safe Retirement Solutions on Facebook and Twitter.

How To Financially Plan After College

Monday, January 13th, 2014

After graduating from college, young men and women have many things to worry about, especially when it comes to finding a job in today’s business world.  But what many recent grads fail to take into consideration is their financial future.

The best time to start saving for your retirement is NOW!

Financial Advice for Recent College Graduates

  1. Save as much as you can now: Try and save as much money as you can while you are young. Odds are that the future will bring with it many more financial obligations, including a mortgage and a family. But saving along isn’t enough…
  2. You need to Invest: Making the right investments now can make all the difference in the future.
  3. Talk to your Employer: Most companies offer a 401K match plan, which means that your employer will match all or a percentage of what you put away for retirement. If you do not take advantage of this, you are essentially leaving money on the table.
  4. Contact Safe Retirement Solutions: We are a full service, independent financial advisory firm dedicated to providing you with the very best in retirement income planning. Our President and CEO Rod Borowy has been helping people achieve their financial goals since 1975. He considers all of our clients to be a part of the “Safe Retirement Solutions” family.

For more information about Professional Financial Planning or Financial Advice, consult the financial advisers at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

What Are The Benefits of Professional Financial Planning?

Monday, December 23rd, 2013

When you are thinking about the future with your family, I’m sure you have many concerns. How many dogs should we get? What schools your children will attend? What trips to take with loved ones? When you’re ready to stop day-dreaming and start planning, you’ll realize that the first step working towards the future is cultivating a stable financial nest.retirement savings

The benefits of professional financial planning lend themselves to all future matters, big and small. Most importantly, you want to have a stable financial future.

Benefits of professional financial planning

  • A professional financial advisor will help you set realistic plans. Both long term and, more importantly, short term plans will need to be weighed in order to plan what you can and cannot accomplish, and what it most important to you.
  • You will be able to develop an in-depth, concrete, look at your assets, liabilities, income, insurance, taxes, investments and estate plan.
  • Financial planning is imperative for investment plans, especial ones over 100k that you don’t feel comfortable managing.
  • You will be able to confidently manage expenses as a cohesive family unit, especially when your combined earnings are over $150,000 or higher.
  • Financial Planning will help you understand the risks. Some risks may be advisable, some may be suicidal, it all depends on your current and future prospects, and what goals you’d like to focus on.
  • Help keeping you active. Depending on the level of personal importance, future goals will come and go. Your income will also fluctuate. A personal financial advisor will know how to strategize based on your financial history and current/future changes.

What a professional financial plan really gives you is time. With help from an advisor you save and create free time by planning and effectively managing your financial situation. By building that nest you are planning for the big score, and not wasting time on ineffective, short term expenses.

A financial plan gives you peace of mind in the short term, and confidence for the long term.

For more information about Professional Financial Planning, or for professional financial advice, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today! Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime. You can also follow Safe Retirement Solutions on Facebook and Twitter.

Source :

http://www.nerdwallet.com/finance/question/what-are-the-benefits-of-having-professional-financial-advice-16

What Is The Importance of Life Insurance?

Monday, December 16th, 2013

If you ask any financial adviser, they are sure to tell you that life insurance is the foundation of any sound financial plan. It is also an important financial tool for all of the following reasons, as well.

Pay Final Expenses: Without life insurance, your final expenses represent a tremendous financial burden for your loved ones. With life insurance, your funeral, burial, probate, debts, and medical expenses are covered.

Create an Inheritance: Even if you have no other assets to pass on to your loved ones, you can create an inheritance by purchasing a life insurance policy and naming them as beneficiaries.

Replace Income for Dependents: Does your family rely on you as its primary source of income? If so, what happens if you pass away suddenly? Life insurance can help replace that income if you die.

Pay Federal and State “Death” Taxes: Life insurance benefits will cover estate taxes.

Create a Source of Savings: Purchasing a cash-value life insurance policy can create a type of “forced” savings plan. And the interest credited is tax deferred (tax exempt if the money us paid as a death claim).

So why haven’t you purchased a Life Insurance Policy yet?

To ensure that you are making wise retirement decisions, consult a financial adviser, like Safe Retirement Solutions. Safe Retirement Solutions is your full service, independent financial advisory firm dedicated to providing you with the very best in retirement income planning.

If you have any questions about what you have just read, or if you would like to know more about retirement planning, consult a financial advisor like Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

Why should I buy life insurance? Insurance Information Institute

Information About Estate Planning

Monday, October 7th, 2013

Estate planning, by definition, is the process of managing and preserving your assets while you are living to conserve and control their distribution after your death. And, as you can imagine, each estate plan varies from individual to individual. Your age, health, wealth, lifestyle, life stage, goals, and many other factors determine your particular estate planning needs.

Below you will find estate-planning outlines for broad groups or individuals

Over 18 Years of Age

All adults should have the following:

  • A durable power of attorney: This allows you to select someone to manage your estate in the event that you become unable to do so.
  • An advanced medical directive: These come in three different types. (1) a living will, (2) a durable power of attorney for health care, and (3) a Do Not Resuscitate order.

Young and Single

  • A will: Without a will, your property would go to your parents

Unmarried Couples

  • A will: This is essential for any unmarried couple. Without a will, state law directs that only your closest relatives will inherit your property, and your partner may get nothing.

Married Couples

A new law passed in 2010 allows the executor of a deceased spouse’s estate to transfer any unused estate tax exclusion amount to the surviving spouse without the creation of a credit shelter trust. Still, credit shelter trusts have many advantages, including:

  • Portability may be lost if the surviving spouse remarries and is later widowed again
  • The trust can protect any appreciation of assets from estate tax at the second spouse’s death
  • The trust can provide protection of assets from the reach of the surviving spouse’s creditors
  • Portability does not apply to the generation-skipping transfer (GST) tax, so the trust may be needed to fully leverage the GST exemptions of both spouses
  • Portability will expire in 2013 unless Congress enacts further legislation

If you have any questions about what you have just read, or if you would like to know more about Estate Planning and retirement planning, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Benefits of IRA Legacy Planning

Monday, September 30th, 2013

Protecting and preserving your retirement savings is just one of the many crucial aspects that go into planning for retirement. If handled properly, an IRA can sustain you throughout retirement and provide a significant inheritance for your loved ones or favorite charity. If not handled properly, your beneficiaries could end up losing as much as 80% of your retirement savings to taxes. 

There is a solution – IRA Legacy Planning.

This important retirement planning strategy helps secure how you will pass along your hard-earned savings. IRA Legacy Planning ensures that your IRAs and other qualified plans are properly incorporated into your estate plan.

Benefits of IRA Legacy Planning

•      Increase the extent and validity of your retirement savings

•      Minimize taxes on the transference of your retirement savings

•      Provide a significant inheritance for your loved ones

•      Ensure the “Stretch IRA”

•      Avoid common mistakes that could result in unnecessary taxes and loss of assets

•      Communicate instructions to beneficiaries upon your passing

If you have any questions about what you have just read, or if you would like to know more about IRA Legacy and retirement planning, consult a financial advisor like Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

IRA Legacy Planning: Protecting Your Life Savings

Annuities: Common Benefits

Monday, September 23rd, 2013

Both fixed rate annuities and variable rate annuities share several common benefits. These benefits include:

Annuities are Ideal for Estate Planning: Upon your death, the proceeds of your annuity pass directly to your beneficiaries without delays or hidden fees.

Annuities are Tax Deferred: Thanks to this annuity tax deferral, you only pay taxes on earnings when you withdraw your annuity’s gains.

Annuities have No Contribution Limits: Unlike 401 (k)s and Individual Retirement Accounts, which are limited, annuities allow you to contribute as much as you want (up to the limits imposed by the insurer).

Annuities have Flexible Payment Options: 401 (k)s and IRAs require you to begin withdrawals at the age of 70 1/2. Annuities offer more flexibility through the following payment methods:

•      Lump Sum distribution (one-time payment)

•      Periodic distributions (withdraw money when you need it)

•      Systematic distributions (a fixed or variable amount is withdrawn at regular intervals)

•      Annuitization (fixed or variable payments, guaranteed for the rest of your life)

Annuities and Tax Control: Annuities are made up of two parts: principal and earnings. As long as you open your annuity with after-tax dollars, only your earnings are taxable.

Annuities are Easy To Start and Maintain: An application, a check, and a signature is all that stands between you and the beginning of your retirement savings.

Additional Annuity Benefits: These include:

•      Annuities do not offset Social Security benefits.

•      Annuities are easy to establish and often come with a “free look period.”

•      You can exchange older, non-performing annuities into a newer fixed annuity with no tax consequences.

If you have any questions about what you have just read, or if you would like to know more about annuities and retirement planning, consult a financial advisor like Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

Annuities: Common Benefits

When Should I Start Planning for Retirement?

Monday, September 9th, 2013

Planning for retirement takes time and isn’t something that just happens. So at what age should you start thinking about retirement? Unfortunately, there is no clear-cut answer. Some people will tell you to start as early as possible, but that is not completely true. After all, what 12 year old is going to start saving for retirement when there is so much candy out there to be bought.

The real time to begin saving money for retirement is when you get your first full-time job. This can be right out of high school or right out of college. Either way, this is the time when you should begin to put money away for retirement.

Talk to your employer about the retirement plans they have available. Most companies will offer a 401K match plan, which means that your employer will match all or a percentage of what you put away for retirement. If you do not take advantage of this, you are essentially leaving money on the table.

So the answer to the question we stated in the title of this article is simple; the best time to start planning and investing for retirement is right now. The longer you wait, the less you will be able to save.

If you have any questions about what you have just read, or if you would like to know more about retirement planning, consult a financial advisor like Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

Safe Retirement Solutions is your full service, independent financial advisory firm dedicated to providing you with the very best in retirement income planning.

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

At What Age Should I Start Retirement Planning?

When Should You Start Planning For Retirement?

What is a Trust

Monday, September 2nd, 2013

A trust is a legal entity that is created for the purpose of transferring property to a trustee for the benefit of a third person (beneficiary). The trustee manages the property for the beneficiary according to the terms of the trust document.

Beneficiary: A beneficiary is an equitable (or beneficial) owner of the trust property. Either immediately or eventually, the beneficiaries will receive income from the trust property, or they will receive the property itself. Until this time, the trust is primarily the responsibility of a trustee.

Trustee: Trustees are usually appointed by the trust, but can be court appointed in the case that no trustee was previously designated. There are two main types of trustees, professional and non-professional. A trustee has several rights and responsibilities depending on the type of trust.

Types of Trusts

  • Revocable trusts
  • Irrevocable trusts
  • Irrevocable life insurance trusts
  • Qualified terminable interest property trusts
  • Spendthrift trust
  • Grantor trusts

 

  • Credit shelter trusts or Bypass trust
  • Generation-skipping trusts
  • Qualified personal residence trusts
  • “Self-Settled” Special Needs trusts
  • “Third-Party” Special Needs trust
  •  And more!

Consult a financial adviser to find out which type of trust best fits your wants and needs.

Benefits of Trusts

  • Provide management assistance for your heirs.
  • Can help minimize estate taxes for married individuals with substantial assets.
  • Contingent trusts for minors allow you to avoid the costs of having a court-appointed guardian to manage you children’s assets should you die.
  • When properly funded, trusts help avoid many of the administrative costs of probate, including attorney fees and document filing fees.
  • Revocable living trusts help keep the distribution of your estate and other private assets.
  • Trusts can be used to dispense income to intermediate beneficiaries (e.g., children, elderly parents) before final property distribution.
  • Trusts can ensure that assets go to your intended beneficiaries. For example, if you have children from a prior marriage you can make sure that they, as well as a current spouse, are provided for.
  • Trusts can minimize income taxes by allowing the shifting of income among beneficiaries.
  • Properly structured irrevocable life insurance trusts can provide liquidity for estate settlement needs while removing the policy proceeds from estate taxation at the death of the insured.

If you have any questions about what you have just read, or if you would like to know more about trusts and retirement planning, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

Advantages of Trusts

Trust Law

What kinds of trusts are there?

Different Types of Trusts for Different Purposes