 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
Maximizing Your Guaranteed Lifetime Income
| Class Dismissed. Retirement is Here. You've worked hard for your money. Its time to put your money to work for you. Call us to find out how we can help ensure you will have enough guaranteed lifetime income to live the retirement you want. Teachers First Financial 800-593-2275 |
Multiple options exist to ensure that you can receive the highest possible
guaranteed income from your retirement savings - without ever running
out of money. The best results are generally gained by leveraging assets
in a combination of strategies - the marriage of two or more concepts to
achieve the highest result. Read below for some brief information on a
few of these concepts, including Enhanced Income Annuities, Life
Settlements, and Reverse Mortgages.
guaranteed income from your retirement savings - without ever running
out of money. The best results are generally gained by leveraging assets
in a combination of strategies - the marriage of two or more concepts to
achieve the highest result. Read below for some brief information on a
few of these concepts, including Enhanced Income Annuities, Life
Settlements, and Reverse Mortgages.
A relatively new option is to obtain a medically underwritten
guaranteed income annuity. With a typical annuity, a 65 year old
retiree might expect to receive an 6% payout on their retirement
annuity. On a $200,000 retirement asset, that would be $12,000 per
year in retirement income.
With Enhanced Income Annuities, that same individual may qualify
for 10, 12, even 15% on that same retirement asset. This payout is
an GUARANTEED LIFETIME INCOME STREAM that lasts
as long as you are alive, it can never run out. You can choose to
receive the higher payout amount, or a portion of the asset can be
carved out to provide that same $12K in retirement income - freeing
up remaining money for other goals; travel, gifting, other investments,
etc. - it's entirely up to you.
guaranteed income annuity. With a typical annuity, a 65 year old
retiree might expect to receive an 6% payout on their retirement
annuity. On a $200,000 retirement asset, that would be $12,000 per
year in retirement income.
With Enhanced Income Annuities, that same individual may qualify
for 10, 12, even 15% on that same retirement asset. This payout is
an GUARANTEED LIFETIME INCOME STREAM that lasts
as long as you are alive, it can never run out. You can choose to
receive the higher payout amount, or a portion of the asset can be
carved out to provide that same $12K in retirement income - freeing
up remaining money for other goals; travel, gifting, other investments,
etc. - it's entirely up to you.
Enhanced Income Annuities
Life Settlements
Most educators do not continue their group life insurance coverage after retirement - often times it is cost
prohibitive to do so. Before you abandon a potentially valuable asset - get a fair market value quote on your
group life policy. A secondary market now exists that allows policy owners to sell their policy to large
institutional investment groups - some of whom include PeachTree Financial, AIG, Credit Suisse, Deutsche
Bank, Wells Fargo and others. Policies are purchased for more than the cash value but less than the death
benefit. Even policies that have 0 cash value can be sold for a cash payment - that group policy you may be
letting go could be worth 10, 20, 30 even 40% of the death benefit - an asset you may think of as worthless
could in fact bring you tens of thousands of dollars to improve the quality of your retirement. A life
settlement on your group life policy, leveraged with an Enhanced Income Annuity, can provide a substantial
boost to your income in retirement. See our News page to review the Wharton School study on Life
Settlements.
prohibitive to do so. Before you abandon a potentially valuable asset - get a fair market value quote on your
group life policy. A secondary market now exists that allows policy owners to sell their policy to large
institutional investment groups - some of whom include PeachTree Financial, AIG, Credit Suisse, Deutsche
Bank, Wells Fargo and others. Policies are purchased for more than the cash value but less than the death
benefit. Even policies that have 0 cash value can be sold for a cash payment - that group policy you may be
letting go could be worth 10, 20, 30 even 40% of the death benefit - an asset you may think of as worthless
could in fact bring you tens of thousands of dollars to improve the quality of your retirement. A life
settlement on your group life policy, leveraged with an Enhanced Income Annuity, can provide a substantial
boost to your income in retirement. See our News page to review the Wharton School study on Life
Settlements.
Reverse Mortgages
In some situations, reverse mortgages can be a highly effective planning tool for increasing retirement income.
The proceeds of a reverse mortgage are generally tax-free, have no income restrictions, and do not affect
Social Security or Medicare benefits. You retain the title to your home and do not ever have to make
repayments as long as you live in your home; in fact, the note is not payable until after the death of the
surviving spouse. You can access your largest dormant asset - the equity in your home - for any number of
purposes - additional retirement income, travel, gifting, etc. Again, the proceeds from the Reverse Mortgage
can be leveraged to create a much larger asset. For example, a $500K home could generate a $25K annual
life insurance premium payment to fund a $1.5M death benefit - thereby replacing a fully taxable $500K
asset with a potentially tax-free $1.5M asset that could be left to your loved ones.
The proceeds of a reverse mortgage are generally tax-free, have no income restrictions, and do not affect
Social Security or Medicare benefits. You retain the title to your home and do not ever have to make
repayments as long as you live in your home; in fact, the note is not payable until after the death of the
surviving spouse. You can access your largest dormant asset - the equity in your home - for any number of
purposes - additional retirement income, travel, gifting, etc. Again, the proceeds from the Reverse Mortgage
can be leveraged to create a much larger asset. For example, a $500K home could generate a $25K annual
life insurance premium payment to fund a $1.5M death benefit - thereby replacing a fully taxable $500K
asset with a potentially tax-free $1.5M asset that could be left to your loved ones.
Estate and Retirement Planning is a highly individualized discipline. The concepts described
above aren't appropriate for everyone, but used correctly can create tremendous leverage
and provide otherwise unattainable benefits. Contact Us to see how these might work for
you.
above aren't appropriate for everyone, but used correctly can create tremendous leverage
and provide otherwise unattainable benefits. Contact Us to see how these might work for
you.
| |||||||||||||||||||||||||||||||||
Enhanced Income Annuities are medically underwritten - they are based upon age and health, and are
calculated based on medical history alone - there is no need for a physical exam. There is no cost to receive
a quote, and the payouts can be structured on a single life or joint life expectancy for a married couple
wanting to ensure payments continue in the same amount for as long as either is alive.
calculated based on medical history alone - there is no need for a physical exam. There is no cost to receive
a quote, and the payouts can be structured on a single life or joint life expectancy for a married couple
wanting to ensure payments continue in the same amount for as long as either is alive.
| Teachers First Financial 72 Sharp Street Suite A2 Hingham, MA 02043 (781) 331-2275 (800) 593-2275 |
Teachers First Financial ... "The Retirement Resource for Massachusetts Educators" |
|
|
