"Nice to know
that I'll be well taken care of.
Thank you
Tom, for your
interest in my
physical welfare.
It is refreshing to know some
one cares about
something besides
making money.
God Bless you
and yours."
Leo Bors-
Phoenix, AZ

When should you start planning for your retirement? If you wait will you be better off? The longer you think about it the sillier questions like that should seem to you, but many people don't save money or wait until late in life to start saving for the time that they will no longer be able to earn an income.

Part of planning is making sure that you have the insurance you need so income and lifestyle won't be destroyed by an disability or accident. The greatest risk any of us face to our health and income is needing to provide long term care. If you need long term care you will be taken care of but the affect on your family could be devastating. Please view that section to learn more about this risk.

If you have invested and saved all your life, converting that into income and spending down your accounts requires a different type of planning in order to ensure that you can maintain your lifestyle and keep other commitments you may have made to your family or community. Current models mix insurance and investments to maximize your income and reduce the risk of unplanned intrusions of your capital.

Annuities are a contract with an insurer and the most common vehicle used to convert savings into a predictable income stream while protecting your principal and growing your savings in a tax free environment. There are many types of annuities. Just as you might have many lengths and sizes of screwdriver in a toolbox, these are a valuable tool if used in the right way and the right time. It is good to understand this tool and what it can and cannot do. Not sure what annuities are or how they might be used to convert your savings into income? Watch the presentation.

Top Five Retirement Concerns:

1. Inflation
   You know what inflation is but do you know how to defend against it? Let us help you by developing a time segmented strategy that mixes a blend of vehicles to work for you as you move through your retirement years.

2. Long Term Care
   It is a fact that people are living much longer now than they did just a couple of decades ago. While the cost might seem prohibitive, long term care planning may be an important piece of your retirement. Whether you buy insurance or make some other plan to deal with this problem, while the chances might seem slim the results of needing just a couple of years of long term care could have a devastating impact on your family.

3. Outliving Assets
   Living longer has another unintended consequence. Your estate is probably fixed at the time you stop earning an income so it is really important to have a budget that includes slowing down some of your spending. We can help you develop an inventory of your assets so you can have some reasonable expectations about lifestyle choices that are sustainable.

4. Health Care/Medical Expenses
   Medical expenses are rising far faster than the rate of inflation. Although there is some hope that health care reform will start putting the brakes on costs, you need to consider now whether this segment of your lifestyle is something that requires a great deal of investment and whether that is sustainable over the long run. You might live in an area where health care is difficult to find or very expensive. Medicare plans may have limitations or an ongoing cost that is not sustainable. Prescription drug plan limitations might mean that it is more cost effective to remain in a relatively expensive retirement plan. We can help you with this piece of the puzzle.

5. Loss of Spouse
   Losing a spouse isn't something that we like to think about and the remaining spouse is usually left with fewer assets or lower income as a result of this loss. It is important to gather all of your information and perhaps get help from an attorney that can help with estate and inheritance issues. One concern that is coming up with increasing frequency because of our current longevity is making sure that any planning done takes into account new Medicaid rules and tax law changes that give much more favorable consideration to certain insurance products.

Most people think of retirement planning as accumulating wealth but this is just one aspect of planning for retirement. Other aspects include protecting wealth accumulation during your entire life time, and after you stop earning an income deciding how you will take distributions in such a way that you continue to protect and grow portions of your savings to make sure you don't outlive your income or your ability to continue to appreciate a lifestyle you have become accustomed to.

Some avoidable risks you and your retirement account face are:

1. Becoming disabled and not being able to realize your financial objectives.
   -Fact: You are three times more likely to become disabled than to die during your working years.
2. Living a long life and needing long term care for a number of years.
   -Fact: Long term care is the biggest risk you face at any age. If you become disabled during your working years there is a good chance you will also need long term care.
3. Most working age people that become disabled return to the work force after recovery.
4. Being over invested in long term assets such as real estate or the stock market that need to be liquidated at a time not of your choosing that causes you to lose equity in your holding.
5. Your death might have devastating financial and personal consequences on your family unless you plan for this event.

Our focus is on communication and education so you can be a more active participant in creating a comprehensive retirement plan, properly allocated to accomplish your goals.

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