For decades the major concern of seniors was dying too soon. Now, it’s living too long. That means that making your money last as long as you is getting harder and harder to do. That’s where retirement and income planning come into play.
At Badger Senior Solutions we use state-of-the-art financial products and services that provide an income you can’t outlive. And, we eliminate the risk of market loss by employing products that allow you to participate in stock market gains but avoid market downturns. And, if fixed rate products are more to your liking, we offer interest rates that far exceed those offered by CD and money market investments.
Perhaps the most important part of our retirement planning strategy is how we address the probability of needing some form of long-term care during your lifetime. The largest expense you will face after retirement is likely to be that of paying for care. By pre-planning for this possibility, we ensure that your estate, whether it is used by you or left to your children, grandchildren, or charities, is not eroded by the cost of care. We use traditional long-term care insurance and a variety of hybrid financial products that pay for some or all of the expense of care while protecting your income and assets from having to be spent down in order to qualify for state or federal benefits. All of this is done while still providing for a secure and predictable retirement income.
Let us help you with your retirement and income planning needs.
Retirement and Income Planning
What is a Hybrid Product?
Traditional long-term care insurance has recently come under attack due to rising premiums, difficulty in the claims paying process, and the fact that it is a ‘use it or lose it’ product . . . If you don’t ever require care, the premiums you have paid are gone.
With this in mind, the financial services industry has developed new products that serve multiple purposes. For example, many life insurance products can now be used to pay for long-term care expenses through riders that are attached to the contract. If the long-term care rider is not needed, the cash value of the contract can be used to provide retirement income or the death benefit can be used to leave a tax-free sum of money to heirs. Some term policies have even begun adding these benefits as have annuity companies.
And, the exciting thing is that some companies now offer this type of product for IRAs and 401k rollovers.
Don’t let your former employer control your retirement funds. Rollover your existing 401k into a self directed IRA and take control of your money.
Planning for retirement can be full of great anticipation and great fear. More time with the grandchildren, travel, and new environments are all part of the unknown. The biggest fear, however, still remains that of financial instability. How can I grow my savings without risking loss? How do I protect them against inflation? Taxes? What happens to my spouse’s income if I pre-decease him or her?
At Badger Senior Solutions, we deal with these issues every day and we’ve helped thousands of retirees and near-retirees prepare for this stage of their life. Call us for a free consultation to see how you can ensure a safe and stable retirement.
(414) 531-0622
For more information visit harmonfinancialgroup.com
