When was the last time you thought about retirement? If you're like many of my clients, you're looking forward to it, but you're also a little nervous. You're not sure if you have enough saved, and it's scary to find out. What if it's too late to make a change?
It's not too late. I can help you make sure you're on the right track for retirement.
➡️ Ready to find out how affordable a new life insurance policy can be? Click the button below for a free quote!
Get a Free QuoteQuestions to Ask When Planning for Retirement
Here are a few key questions I ask my clients when we start making plans:
- Do you think your current retirement plan can provide you with enough income for a 20- or 30-year retirement? People are living longer, which means your dollars need to support you for more years than you expected.
- Does your employer offer a pension plan? Pensions are great for funding retirement, but they're not offered by very many employers any more.
- If you pass away, could your family maintain their current lifestyle? If something happened to you between now and retirement, could they pay the bills and keep food on the table?
- If the stock market takes a big hit like it did in 2001 and 2008, what would happen to your retirement savings? A lot of my clients are looking for sources of retirement income that aren't exposed to the potential downturns of the stock market.
- If taxes go up, what happens to your retirement savings? Does it make more sense to pay tax now, instead of later? If the income tax rate is higher when you need to pay tax on withdrawals from a retirement account, you could end up paying more than if you funded an account with after-tax dollars right now.
- Do you have kids you want to support through college? If you plan to help out with funds from your retirement account, just know that most "early distributions" before the age of 59.5 come with the IRS's 10% penalty tax.
If any of these questions make you think twice about how to pay for retirement, I have a solution. Together, we can design a plan that uses life insurance to supplement your income, offers a death benefit to your family if anything happens to you pre-retirement, allows for income-tax-free distributions, and avoids early distribution penalties.
➡️ Ready to find out how affordable a new life insurance policy can be? Click the button below for a free quote!
Get a Free QuoteThe Solution: Indexed Universal Life Insurance
One form of life insurance called IUL (indexed universal life) can help avoid all of the retirement concerns listed above. It can do all of these things:
- Provide a guaranteed income-tax-free death benefit for your family
- Adjust the death benefit amount over time, if you need more or less coverage
- Grow cash value that you can pull from to supplement your retirement
- Avoid IRS penalties for early distribution
- Earn interest based on the performance of one or more global market indexes
- Credit your account with more than your minimum interest rate if the global market index does well
- Offer minimum guarantees, which means your account always grows—it never loses money, even if there's a big downturn in the market
➡️ Ready to find out how affordable a new life insurance policy can be? Click the button below for a free quote!
Get a Free Quote