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 Davis 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 Davis 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 as safe and stable retirement.