Your clients have worked a lifetime to create financial security for themselves and their family. They are comfortable and have assets that they may not need to fund their retirement. How can we best prepare them now to pass their wealth on to their loved ones? One of our non-conventional strategies that will help your clients succeed in their financial accomplishments is insured family legacy planning.
Certain taxable investments can provide liquidity for retirement income and other financial needs, as well as the ability to diversify your portfolio. Yet, income and capital gains taxes can reduce returns.
Tax-deferred products offer the power of tax-deferred growth and the ability to diversify. Any withdrawals taken prior to age 59 1/2 are generally subject to ordinary income taxes, plus a 10% federal tax penalty. What’s more, all capital gains are converted to ordinary income at distribution.
Anyone age 30-60 who wants to save money for retirement.
We are weathering turbulent economic conditions these days. Given the debt crisis, we are seeing increased volatility in all economies.
As a result, fixed income products have been adjusted to provide such weak yields, they may not even keep pace with inflation, let alone accumulate assets for retirement. Additionally, those planning for retirement may be uneasy about exposing their finances to these fluctuations.