Retirement
Planning your retirement shouldn’t be an overwhelming process. In fact, it should provide peace of mind. At Advanced Insurance Concepts, we are dedicated to providing you with an easy transition.
How to Save Money
There are several ways in which you can ensure that you will have financial stability during your retirement:
- IRAs: Traditional Individual Retirement Accounts (IRAs) are individual accounts that you contribute to yourself. Typically, contributions are tax-deductible. They money can also increase while in the account, and you don’t have to pay taxed on any investment, that is, until you make a withdrawal.
- 401(k): A Traditional 401(k) plan is offered by companies to their employees as a retirement account. Similar to the Traditional IRA, the money grows on a tax-deferred basis.
- Annuities: An annuity isn’t necessarily an account, but it can certainly help you have a steady flow of income in your retirement. It is a contract between an insurance company and you where you make either one lump-sum payment or multiple payments in return for the insurance company to give you regular disbursements as soon as possible or in the future.
Tips to Follow
Although investing and saving money are one of the most important factors when it comes to retirement planning, there are other factors to consider. Here are some tips to follow to ensure you start your retirement plan off right:
- Set retirement goals. By setting these goals, it’ll give you an idea of what you want your retirement to look like and how much money you will need by the time you do retire to make the goals a reality.
- Think long term. Long-term thinking can involve investing as well as thinking about which insurance policies would benefit you and your family, such as long-term care insurance or even an indexed universal life insurance policy.
- Work with a professional. By working with a professional, you will have a better idea of how your retirement will pan out as they will be helping you every step of the way. Your retirement is meant to be a time for YOU to enjoy. Let an experienced professional help you achieve that.
We're Here to Help!
We Are Dedicated to Helping You!
At Advanced Insurance Concepts, we are dedicated to helping your retirement transition be simple and as stress-free as possible. For more information on how we can help, give us a call today at 816-476-8191.