Services Designed to Protect Your Wealth

We offer various insurance-related services to help you reduce personal, retirement and business risks. We must conduct a thorough assessment of your situation before providing strategy-based services. All services are backed by actuarial science and are data-driven. 

Retirement Income Planning

Retirees and near-retirees often worry if they have saved enough for retirement, if they will run out of money in retirement, and what will happen to them if their expenses go up when on a fixed income. Our firm can help you calculate your expected expenses and income flow in retirement, considering your needs and lifestyle.

To fully understand your retirement income, you must know how to draw down and manage your income and create new income streams, if needed. Defined Benefit Pensions, 401(k)s, savings, inheritances, business income, and annuities are all possible income streams to consider. Each has its own regulations, timelines, options, and tax ramifications.

At Retirement Income Planning Services, we help our clients work through any complexities of retirement income planning, explain the options, and help establish additional income streams with an annuity when suitable. We also specialize in creating self-funded retirement plans. We want to help you achieve your goal of being able to retire and stay retired with enough income to last a lifetime when possible.

Tax Minimization Strategies

Many people in retirement or nearing retirement are concerned about how taxes can affect their nest eggs. Tax rates, rules, and regulations tend to evolve over time-based on the economy, market, and politics, making it difficult to project your tax burden when on a fixed income in retirement. 

There are insurance products available that can help mitigate taxes. The money you can save in taxes can be allocated to other areas of your budget. Saving on taxes could mean the difference between having enough and having too little for comfort when on a fixed income. 

We work with clients to see if tax minimization strategies utilizing insurance are suitable for their situations. We also partner with CPAs and accountants to help ensure all tax mitigation strategies are in line with current law and each client’s unique situation.

Long-Term Care & Disability Insurance

Most of us have traditional health care insurance through an employer or Medicare to help us access and pay for needed care. However, there are situations when your usual health care coverage won't apply. Not being adequately covered for long-term care needs and disability can pose a financial and health care risk to you if left unmanaged. 

Many employers offer Disability Insurance. It can replace part of your income if you become disabled or injured while on the job. The problem is that coverage is sometimes insufficient or not offered, putting your income at risk. We can help source a disability policy to meet your needs so that you can replace lost income during a challenging time. 

Long-term care insurance can help fund and provide needed care in case of a long-term illness or disability. Typically, care is provided in-home or in a facility when the insured can no longer perform "activities of daily living" independently. Long-term care insurance helps to ensure that you have access to and can fund the care you need when you need it most. We can look at the options and find a policy that meets your needs and budget.

Legacy Planning

Thinking about one's mortality is uncomfortable, so much so that it's a task that is easily put off until another day. Problems can occur if legacy issues are never addressed and the person passes away without their affairs in order, leaving the surviving spouse or family members to not only grieve but manage through complicated and often expensive estate issues. 

Proactively making and documenting legacy decisions can help smooth the transitional period following a death. Wills, estate planning documents, power of attorney documents, notating beneficiaries on all accounts, and having adequate life insurance are all areas to address. 

At Retirement Income Planning Services, we can help you think through and address legacy concerns and work with an estate attorney to prepare your documents so that you don't leave your legacy to chance. We can also work with you to find life insurance and annuity policies to help ensure your spouse, family member, or favorite charity or cause are remembered after passing.

Business Planning

In addition to day-to-day operations, business owners must keep their eye on overall business planning. They often have questions regarding what will happen if a key person leaves the business, if they are paying too much for employee benefits, and the financial and tax ramifications to consider when selling a business.

The first step is partnering with a knowledgeable professional with solid business experience and a proven track record of helping other business owners. Getting information, exploring strategies, and ultimately implementing strategies can help put a business owner's mind at ease, knowing they have been proactive and planned for the future.

Our firm can help business owners establish key person insurance, source employee benefits, and help set up buy-sell agreements. As always, we work with CPAs and attorneys to address all legal and tax issues.

Advanced Life Insurance Strategies 

Do you need a large life insurance policy but want to avoid liquidating assets or other funds to make the premium payments? If you are concerned about affording life insurance for this reason, there are alternative ways to access the insurance coverage you need.

Advanced Life Insurance Strategies utilizes a product called Premium Finance Life Insurance. It is designed to offer higher payout amounts and is funded by securing a loan to pay the premiums. The payout amount is usually substantial enough to pay off the loan balance and leave funds to the beneficiary. This type of insurance is an option when the purchaser does not want to liquidate assets or other monies to pay the premiums.

At Retirement Income Planning Services, we have experience working with clients who need Advanced Life Insurance Strategies. We can explain the pros and cons, source policies, and help set up the insurance coverage you need.