There are many financial products in the market, and so choosing the ones that best meet an individual client’s needs can be complicated.  Informed decisions about the products in any portfolio are best made after an assessment of individual needs. After the meeting, you are better informed when the time comes to choose from a comprehensive suite of products and services and select those that help address your unique situation.

Products and services include:

• 401(k) retirement plans and Individual Retirement Accounts
• 529 qualified tuition plans
• Annuities
• Mutual funds
• Certificates of Deposit
• U.S.Treasuries Securities
• Group retirement and savings plans
• Simplified Employee Pension Plans
• Qualified Retirement Plans
• Other retirement savings plans designed specifically for employee groups
• Life insurance
• Long-term care, disability and critical illness
• Health Insurance Group health benefits

 

 

LIFE INSURANCE

Insurance

Insurance is essential to any comprehensive financial security plan. If tragic events like death, disability or critical illness strike, insurance can protect you and your family from undue hardship. Some life insurance policies also provide tax-advantaged savings that you can draw on to pursue goals like buying a house or retiring comfortably.

I have access to a variety of insurance products that can help address your financial security planning needs. No matter your personal situation—if you’re single or in a family; a professional or a seasonal employee; an executive or small business owner—we will work together to design a customized plan.

• Life
• Long-term care, disability and critical illness
• Health and dental
• Group health benefits

 

 

 

Charitable Giving

Everyone has their own reason for gifting their assets or a portion of their income to charitable organizations.  Some find comfort in helping others who are less fortunate, while others simply want to share their good fortune.  Many of the institutions of art, sciences and education are supported in large part by those who want to give something back in appreciation for their contributions to the community or the individuals themselves. 

Presently, the tax code offers incentives for gifting of one’s assets or incomes. Tax deductions are given for current contributions and, for estate owners, charitable gifts can reduce the size of the estate to help minimize estate taxes.

Often times, an individual will designate a charitable beneficiary in their will to benefit the organization after the individual dies.  By using charitable gifting techniques, a donor may be able to benefit the charity while living without having to sacrifice the income that an asset can generate.  Understanding how properly structured charitable gifts can provide current benefits for both the donor and the charity could be important for the charitably inclined.

 Charitable Remainder Trust

A remainder trust enables the donor to transfer an asset while retaining the right to the income it generates. The asset becomes the “remainder” which is owned by the charity.  Remainder trusts, if properly structured, can qualify for a current tax deduction.  There are three types of remainder trusts:

Unitrust: A unitrust the income the donor receives is based on a percentage of the current fair market valuation of a trust asset. Each year, as the asset is valued, the income is adjusted based on the new valuation.

Annuity Trust: Instead of a percentage of the asset value, the donor is paid a fixed amount annually.

Pooled Income Fund: Donors can pool their donated assets in a fund that is operated by the charitable organization. The donors then receive a proportionate share of income from the fund that is paid throughout their lifetime.  Payments can vary each year based on the valuation of the underlying assets in the fund.

Charitable Lead Trust

Also known as an Income Trust this vehicle transfers the income rights to the charitable organization. Generally, the income rights are assigned for a specified period of time after which the remainder passes to the donor. 

Charitable planning involves tax issues that should be discussed with a qualified tax or financial professional.

 

 

Social Security

Social Security retirement benefits help provide lifetime, inflation-adjusted total income.  Combined with your retirement savings and pension benefits, Social Security serves as an important component of your overall plan for retirement income, amounting to hundreds of thousands to 2 million dollars or more over a joint couple’s lifetime and becomes increasingly important as longevity increases as we get older.

Eligibility for Social Security begins at age 62, when approximately 40% of persons eligible begin withdrawals, according to the SS Administration’s own records.  However, early claiming will reduce your monthly paycheck – permanently.  New research shows that you may be considerably better off using a coordinated strategy for withdrawing your income that provides maximum benefits in a shorter time frame, while creating a higher survivor benefit.  Imagine receiving hundreds of thousands more in benefits by coordinating the timing of your withdrawals.

You can learn more at www.ssbest.net