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People want security and less stress as they transition into retirement. Before retirement, we focus on accumulation and growing our assets. Time is on our side and we are still earning income. These are powerful factors that justify this mindset. More assets means more future income. We see this validated when purchasing income generating annuities.
Decumulation is the technical term for the distribution phase of retirement. Who does it benefit to remain focused on asset accumulation, in retirement? More and more economists and retirement professionals are suggesting that we shift our focus from asset accumulation to asset protection and guaranteed, lifetime income. As retirement experts, we are questioning the conventional wisdom that underpins this issue. Like everything in financial planning, each person’s circumstances are unique and this uniqueness drives individual recommendations. Factors such as succession and health play a role in how much of our retirement assets should be converted to income. For each of us, there is a perfect balance.
You can reach us at 561-869-4500 or email Ted to arrange for a complimentary consultation. If you are worried about keeping your retirement assets at risk, let’s talk.
Term Insurance Rates Are Remarkably Low! How Much Life Insurance Should You Buy? From Who?
It is important for consumers to have a good understanding of how inexpensive term insurance really is to own. Once you engage with a professional to start the process, a robust discussion will usually follow about “how much” coverage do you need to meet your goals and objectives. From there, you should learn about state of the art innovations to reduce premiums, create value and increase flexibility. Maximum flexibility and the ability to customize for most people, is more important than anything else.
The Installment Payout Option – Just one example: Most people buying life insurance today for income protection prefer to have the proceeds paid to their heirs in a partial lump-sum with the balance paid in equal, guaranteed installments over a time period they choose. Life insurance buyers now can control how the proceeds are paid to their beneficiaries at the time they purchase the policy. Until recently, beneficiaries were always paid in a lump-sum. Now, at the time of purchase, you instruct the insurance company to pay GUARANTEED, pre-determined payments over a time period you selected. The premiums can be up to 40% less, EVERY YEAR!
Things change as time goes by. The Installment Payout Option allows you to re-design the structure of payments at any time to meet the needs of your family, without underwriting.
Still, too many people are only concerned about the minimal premium differences among different insurance companies. They key is to work with a professional to first customize exactly what you need and want the policy to do in the short and long term. Not doing so is the equivalent of going into an auto dealership and demanding the least expensive car without first “building” the car to meet your unique goals and objectives. Worse is the fact that most people are not aware of these relevant innovations that can now be customized into your policy. More and more insurance companies are creating products that allow experienced professionals to design the perfect policy for you.
I offer a complementary consultation, by phone or in person, which is designed to help you explore the innovations that now exist and to determine if I am the right professional for you. I have 30+ years of experience that will ensure you end up with the perfect plan and products for you.
