Many retirees are concerned about having enough money to live on as much as they are concerned about reducing taxes and leaving a legacy for their loved ones. Well, there are solutions that are in harmony with the IRS tax code that allows you to do all of the above. To get an understanding of how lack of tax planning within your IRA could cost you and your family thousands, if not hundreds of thousands or even millions, simply click on the image below and watch the movie in its entirety. This will open a new window.
Upon completion of the movie, click on the bottom right tab “GET YOUR FREE ANALYSIS”. This will allow you to input some basic information about your IRA situation. It will generate a simple analysis of what the IRA values can be in the future. From that I can offer specific designs to meet your goals for retirement and asset protection.
CLICK ANYWHERE ON IMAGE TO PLAY VIDEO
This solution can work with any tax qualified account including all IRAs, 401Ks, 457s, 403bs, SEPs, ESOPs, etc. Give us a call for a no a no obligation analysis of your tax risk and potential solutions to protect you and your family.
I teach Estate Planning and Administration from an attorney/paralegal perspective at Shepherd Univerity to a classroom comprised mostly of seniors. That is senior, young and getting ready graduate and start their journey to retirement and asset protection. I think they are finally starting to get it as I take every opportunity to make the concepts applicable to them as well as their families. I had a representative from Hospice of the Eastern Panhandle in Martinsburg, WV, emphasize, in the absense of assets, that living wills and advanced directives are useful, even for “invincible” young adults. It’s one of the easiest, and free things that they can do for themselves.
I ran across this article from Wealth Junkie$. Though brief, I thought it was appropo. The following is the rest of the article:
“Estate planning sounds like something that should only concern senior citizens. After all, it’s a system of making sure that your assets wind up in the hands of your beneficiaries as quickly and easily as possible. And who has an estate these days? The word implies plenty of wealth.
But the fact of the matter is that estate planning is just as important to the young and the less-than-wealthy as anyone else. For one thing, estate planning these days can include the documents that state how you want your medical and financial affairs handled if you’re incapacitated. For another thing, estate planning is just as useful as an insurance policy: it gives you a way to make sure that your family is taken care of in a worst case scenario.”
(NewsUSA) – New data from Fidelity Investments found that more than eight out of 10 Americans have cut back on discretionary purchases because of the recent economic crisis, and nearly half of respondents are now saving money. But many are unsure where to place the savings for the greatest benefit.
“After maximizing workplace savings plans and paying off credit card debt, investors should consider saving more for retirement using an Individual Retirement Account or IRA,” said John Ragnoni, senior vice president, Fidelity Investments. “Even though Americans are facing a challenging economic environment, it’s important to prepare for the future by making annual contributions.”
For example, an investor who makes a single contribution of $5,000 to a Roth IRA now could see that amount potentially grow to more than $53,000 in 35 years, assuming an annual rate of return of 7 percent.
Additionally, consolidating old workplace savings accounts at former employers into an IRA may offer the most compelling benefits for managing one’s retirement savings, including a broader range of investment choices.
Tax Free Growth in a Roth IRA
This hypothetical example assumes the following: (1) one annual $5,000 Roth IRA contribution made on January 1 of the first year, and (2) an annual rate of return of 7 percent, and (3) no taxes on any earnings within the IRA. The ending values do not reflect taxes, fees or inflation. If they did, amounts would be lower. Earnings and pretax (deductible) contributions from a Traditional IRA are subject to taxes when withdrawn. Earnings distributed from Roth IRAs are income tax-free, provided certain requirements are met. IRA distributions before age 59 1/2 may also be subject to a 10 percent penalty. Systematic investing does not ensure a profit and does not protect against loss in a declining market.
This is from a CNN/Moneyarticle published October 24. It can be found here. Bottom line is that the more you made during your working years, the less that Social Security will proportionately replace your income if your spending and lifestyle does not decrease. To make up the difference you would naturally have to accumulate savings to cover your needs and wants for your life expectancy. Premier Guaranty can design such a plan for you. Give us a call.
The ongoing crisis occuring in the markets has even the wealthy worried about having enough money to retire. Whether you consider yourself wealthy or you are just a regular person concerned about how your retirement will survive this bear market, and recession, Premier Guaranty can help. Check out the solution and the case study tabs to find out how.
Oh, yes, the rest of the article can be found here for your review from the Wall Street Journal:
Take a look at this video segment from Fox News. In spite of all the news of terrible losses, this couple has not lost a penny. Premier Guaranty can design an advanced retirement portfolio that can not only protect your principal, but also provide guaranteed returns.
We are an independent retirement services company in Martinsburg, WV. Unlike traditional brokers we create plans that depart from conventional wisdom of risk-based financial approaches. Solutions are designed to create income for life, and structured to maximize income, minimize taxes, safeguard principal, and guarantee returns without risk. Rollover can be from IRA, Roth, non-IRA, 401k, 403b accounts. Conservative, reliable and ideal for retirees as well as pre-retirees. Find out how your retirement plan can benefit from your personalized 401k, IRA rollover solution.
We recognize that a good plan must also come with protection. We provide resources that can save you thousands on estate planning before you choose to use an attorney for efficient and maximum transfer of your wealth to your heirs. Our medicare research service delivers the lowest cost, highest value coverage that can save hundreds on your medicare supplement premiums while preventing your personal assets from being depleted due to high medical expenses.
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A Canton man accused of embezzling more than $350,000 from two men whose retirement funds he was hired to manage could face 20 years in prison if he is convicted of felony criminal charges. […]
