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| Retirement Planning |
| Retirement is an exciting milestone - the reward for a lifetime of hard work. Retiring individuals face a myriad of important decisions; choosing pensions options, deciding when to start receiving social security and/or IRA payments, and figuring out health care options - just to name a few. This is an important time to get accurate information. There are many options available now that can help ensure a comfortable income in retirement, adequate income for your spouse after your death, and protection of your assets to be passed on to your heirs. |
| Income Planning |
| Pension Asset Planning |
| Of primary concern to many individuals contemplating retirement is which Pension Option to choose. Option A typically provides the highest payout, but only lasts during the lifetime of the retiree and provides no benefit for a surviving spouse. The other options provide some benefit for the spouse but usually a substantially diminished payout. With proper planning, you can choose the highest payout and still ensure that your spouse will have enough income in the event of your death. Click here for more information about Pension Asset Planning. |
| Retirement Accounts |
| Retirement accounts, such as Pension Plans, 401K's, IRA's, or 403B's are subject to special restrictions and tax consequences. Distributions prior to age 59 1/2 incur penalties as well as both Federal & State taxes. By age 70 1/2, you must begin Required Minimum Distributions from these accounts. All retirement accounts are subject to much higher taxation upon death than regular assets; combined taxation of these funds can exceed 80% of the asset. Proper planning can reduce or eliminate most of these taxes. Most people don't realize the vast possibilities that exist for doing Estate Planning utilizing retirement or pension funds; in most instances it is possible to gain a tax deduction by donating part of the asset, while using the remaining portion to generate a tax-free legacy for your children. With proper planning, a $1,000,000 retirement account can provide a $1,000,000 gift to charity and a $1,000,000 tax-free legacy to your children. Without proper planning, that same $1,000,0000 retirement account will could leave only $200,000 to your family, and nothing to charity. Click on Qualified Asset Planning to see options to protect and maximize the benefit of your qualified money. |
| Reverse Mortgages |
| Reverse Mortgages are an effective planning tool for increasing retirement income and protecting assets. The proceeds of a reverse mortgage are generally tax-free, have no income restrictions, and generally do not affect Social Security or Medicare benefits. You retain the title to your home and do not have to make monthly repayments; in fact, the note is not payable until after the death of the surviving borrower or until after you no longer live in the home. The funds are unrestricted and can be used for limitless planning opportunities to guarantee adequate income, and as leverage to create additional wealth. Click to view an example of Reverse Mortgages and the enormous opportunities they provide. |
| Questions? Please call us at (800) 593-2275 or e-mail us. |
| Clients First Financial, LLC 72 Sharp Street, Suite A2 Hingham, MA 02043 All Rights Reserved |
| By far, the biggest worry Americans express about retirement is whether or not they will have enough income to live comfortably. People are living longer, which means the nest-egg has to last longer. At Clients First Financial we specialize in developing unique planning strategies to guarantee that you won't outlive your income. There are a number of excellent options available today to ensure that retirees can not only enjoy a comfortable standard of living, but also protect their assets to be passed along to their children or other family members. |
| Clients First Financial, LLC |
Our Advisors Average 19 Years of Experience and Integrity in Financial Services |
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