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Retirement (7 Questions):<\/strong><\/em><\/p>\n Are you waiting until 73-75 to take Required Minimum Distributions?\u00a0 That could get expensive.<\/p>\n Do you run the risk of having too much money in a qualified plan or IRA when you retire?\u00a0 What if tax rates are higher in the future than they are today?\u00a0 Do you have a plan to have tax-free sources of income as well?<\/p>\n Up to 85% of your Social Security payment can be included in your taxable income during retirement.\u00a0 Are you aware of the current income limits that exempt your Social Security from taxation?\u00a0 Do have any plans for tax-free income sources to protect you from the government recapturing some of your social security?<\/p>\n The cost of Medicare Part B can get very expensive if you have more than a certain level of taxable income.\u00a0 \u00a0Are you aware of the current income limits that will begin to impact the cost of Medicare Part B?\u00a0 Do have any plans for tax-free income sources to protect you from the government charging you more for your health insurance during retirement?<\/p>\n What is your source of tax-free income in retirement?\u00a0 Do you feel that you will have enough tax-free income?<\/p>\n Have you decided at what age you will take Social Security?\u00a0 Have you reviewed your sources of taxable and tax-free income to understand how many years during your retirement you may be able to avoid paying taxes on your Social Security?<\/p>\n Were you aware that the tax treatment of income from insurance and annuity products can be very different?\u00a0 Some products distribute taxable policy gains first before returning your initial investment (cost basis).\u00a0 Some are subject to a 10% penalty tax for distributions prior to 59 1\/2. Some distribute both gains and cost basis together.\u00a0 Others distribute all policy proceeds tax-free.\u00a0<\/p>\n Pension Recipients (1 Question):<\/strong><\/em><\/p>\n Did you know there may be a better option than taking your pension plan\u2019s joint and survivorship option?\u00a0 Can I show you how taking the greatest amount of income available and buying a life insurance policy may be a better choice for you, your spouse, and your heirs?\u00a0 This decision could provide more income, more flexibility, and additional benefits like chronic illness or long-term care benefits.<\/p>\n Wealth Transfer (4 Questions):<\/strong><\/em><\/p>\n Are you not selling assets simply because of a large capital gain?\u00a0 There are ways to sell these assets without realizing the gain and getting a reliable income stream for life.<\/p>\n When was the last time the trustee of your irrevocable life insurance trust reviewed the policy(ies)?\u00a0 The low interest rate environment has impacted many of the policies that have been issued in the last 20 years. Also, many carriers had strict premium receipt policies.\u00a0 If a trustee were just a few days late paying the premium, some policies could be dramatically impacted.<\/p>\n Do you own an annuity that you have now decided you will not need in retirement?\u00a0 If so, would you like to learn more about ways to efficiently transfer the value of that annuity to your heirs?<\/p>\n Did you know that 17 states (including CT, NY, NJ, MA, RI, PA) currently have estate or inheritance taxes (or both)?\u00a0 Just because your assets are currently valued below the Federal limits doesn\u2019t necessarily mean you do not have a significant tax liability. \u00a0<\/p>\n Insurance through work versus individually owned (2 Questions):<\/strong><\/em><\/p>\n Would you be surprised to find out that, more often than not, individual term insurance policies are less expensive than the ones you can get through your employer?<\/p>\n Would you be surprised to find out that in many cases, individual disability insurance policies are less expensive than the ones you can get through your employer?\u00a0<\/p>\n Business Owners (4 Questions):<\/strong><\/em><\/p>\n Does your business have a will?\u00a0 How will your business continue if you die suddenly?<\/p>\n C Corporations are now taxed at 20%.\u00a0 Have you explored whether corporate-level financial planning may be more advantageous than individual-level planning?<\/p>\n Did you know that corporate retirement plans can own life insurance?\u00a0 Putting life insurance in a qualified plan may allow you to increase your annual contributions while providing the protection your family and business need.<\/p>\n Is anyone on your team so critical that if they died or became disabled, your business would suffer?\u00a0 How are you planning for that?\u00a0 Do you have a plan in place that rewards them for staying, as well?<\/p>\n Long Term Care and Chronic Illness (2 Questions):<\/strong><\/em><\/p>\n Do you know the difference between indemnity policies and reimbursement policies?\u00a0 Have you ever thought about which one you would prefer?<\/p>\n If I could show you a way to protect your estate from the enormous costs associated with long-term care, and it was fully refundable at any time, no questions asked. And if you never needed long-term care, your heirs would get the full refund.\u00a0 Would that interest you?<\/p>\n Have questions about any of the points discussed above?\u00a0 \u00a0Call Paul\u00a0<\/strong><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Retirement (7 Questions): Are you waiting until 73-75 to take Required Minimum Distributions?\u00a0 That could get expensive. Do you run the risk<\/p>\n
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