Retirement Plans Information
Retirement Plans in Colorado
Why do I need to plan for my retirement?
You need to plan for retirement when you are young. As the years go by, due to enhancement of medicine and technology, people are living longer. The three-legged stool of retirement which includes savings, social security, and pension may no longer be there when you retire. Therefore, you need to plan early so that you and your family are protected in the future.
Saving, investing and planning for retirement are some of the most important things you can do for your financial peace of mind. Start saving today. Financial peace of mind begins by a commitment to consistently set aside a portion of your income. Where to invest:
1. 401K- Investment through your company
2. Traditional IRA – Self invested
3. Roth IRA – Invests your after tax savings
These strategies use a mix of investments
3. Short Term Investment
4. Mutual Funds
Which mix is right for you depends on
1. How much you invest
2. Retirement Age
How much retirement savings is enough?
Retirement planning is not what it used to be. How much you need for retirement depends on how you answer these questions.
1. Start with your goal. How do you define retirement? Where will you live/travel/hobbies?
2. How much do you need to save now, to enjoy later?
3. Strategy of step-up savings. Strategy to increase your saving contributions can make a huge impact on the kind of retirement you can afford.
What is Long Term Care insurance?
Long Term Care insurance provides a daily reimbursement for support and services – including assistance with bathing, dressing and eating – that are needed over an extended period of time. This policy allows you to receive the daily services in your home, adult day care centers, assisted living facilities, nursing homes and similar facilities of your choice. Whether you need skilled nursing home such as occupational speech therapy or other services such as meal preparation, and housekeeping. Health insurance does not pay for daily, extended care services. So plan today for your future.
You can stay independent and not rely on family or friends for care. Protect your assets & your standard of living.
How can Long Term Care insurance help?
Often people don’t consider the very possibility that, at some point, they may require long term care. Without long term care insurance or other financial resources, you put your savings and assets at risk. We can help you protect your hard-earned savings and assets at risk.
Some things to consider:
Where you would like to be cared for -in your home or a facility?
How much and what type of care you may need?
Your income over time and whether you would be able to afford coverage should your income change?
You can get into a car accident and lose all the college funding set aside. So plan for your future wisely.
What is the three legged stool?
The Three-Legged Stool refers to the traditional retirement income model which was composed of a Social Security check, a company pension, and your personal savings. When Social Security started, there were 42 people for every one retired. Last year it was less than three to one. Pensions are becoming a thing of the past, which leaves personal savings. With this traditional model all but gone, a new retirement strategy focused on personal responsibility is needed. It’s important to learn the right balance between what you spend now and what you save for later. Working with your financial professional is the best way to prepare for the future and for how you’ll live life on your terms.
What is a 401K?
401K is a powerful financial vehicle provided by your employer that gives you the ability to save for the retirement you want. A 401K is a tax advantaged long term savings plan that uses the idea of compounding where your earnings are reinvested over time. Its designed primarily to provide the income you may need to supplement social security and retirement.
Why do I need an agent for retirement planning?
Many goals and dreams in life – such as funding a child’s college education, purchasing a home or retiring in comfort – require that you have a sound financial strategy to achieve them. No one way of preparing for the future is right for everyone, which is why we are ready to assess your particular needs and help you work toward a more sound financial future. A financial Planner will take the time to understand your goals and recommend investments that fit your needs. We will analyze how changing economic and personal situations affect you. We try to answer the question of what goals should I set, and how much do I need to save to reach these goals.
Helping people feel more secure is what we do. Since we are a broker company you have the power of choice to choose a company. You decide what option is best for you and your family. We can set up a winning strategy for your future.
Call Us Now at 303-353-8320 For a FREE Quote.