You buy an annuity because it does what no other investment can do-provide guaranteed lifetime income for the rest of your life, no matter how long you live.
Were’ here to help you !
Our team started helping clients back in 2004. Over the past 20 years, we have successfully guided several thousand clients towards a happier retirement. We genuinely care about every person we are blessed to encounter and we are dedicated to simplifying and solving your health and financial challenges. Income planning is essential when it comes to protecting your family’s future, and we truly enjoy helping others achieve their retirement goals and attain peace of mind.
Retirement Planning
At Core Financial, we take the guess work out of retirement planning. We are here to listen to your concerns together, analyze what you have in place, and assist you in creating a smart plan -adjusting your current plan if needed by utilizing the tools we have to maximize your growth and provide you with the income you desire.
Your income planning is specific to you and we don’t assume there isn’t one way to retire. We help assess your unique scenario and how much you money need every month to life happily. Together, we’ll make a plan for guaranteed income plus growth. We have the ability to provide a one-page snapshot of all your assets showing how they work together to achieve your needs and desired guaranteed income for the next 30-40 years.
Some people make the mistake of pressing their luck by gambling in Wall Street casino, and going “all-in” every deal. This is obviously not wise and those who do it often struggle to sleep at night because they worry about what’s going to happen in this ever-increasing volatile market, which we believe is due for a significant correction. We believe it is wise to protect 30%-50% of your retirement savings in an option that cannot lose. We would the opportunity to talk with you about this in detail.
We have products that allow you to have excellent growth, while never risking your principal investment and retaining your gains at milestones. When we meet with our clients, most of them are using a one bucket approach for their retirement. We prefer to draw from multiple buckets for their income plan. We show our clients several options that will achieve solid returns regardless of potential volatility. Our clients walk away feeling confident in this strategy because we control their exposure and balance the risks with their hard-earned nest egg, extremely well. Our specialty is creating balance and peace of mind, resulting in a happier retirement.
Tax-Free Retirement
Whole Life Insurance can do it all. These policies offer a cash value component that accumulates as policy premiums are paid. This cash value typically grows with a guaranteed minimum rate of return. Of course, like the previous examples, it provides a death benefit (tax free), but the insured also has the ability to borrow against the policy’s cash value without creating a taxable event or paying taxes on the growth. These whole life policies not only provide financial security for your loved ones after you pass, they also offer the ability to accumulate cash value, positioning it as an investment tool and savings account you can tap into while you’re still living.
Fixed indexed Annuities
A fixed indexed annuity is simply a tax-deferred, long-term savings option that is designed with the potential to capture a portion of the market’s upside, with guarantees that you’ll experience no loss of premium due to market downturns. The money you place into your fixed indexed annuity and any earnings credited to you will not be lost due to a negative market. There are many types of fixed indexed annuities. Some are designed for growth and accumulation, others offer guaranteed income for life, and if you have concerns about the potential expenses associated with nursing home care, you can adapt your FIA to those life changing situations. Most products are equipped with liquidity features that give you access to some of your retirement savings as well. Annuities can play a vital part in your retirement accumulation strategy-offering both upside potential and premium protection against market risk.
Most investment companies (who do not offer fixed indexed annuities) recommend them as a wise addition to your portfolio.
Permanent life insurance and deferred income annuities with increasing income potential outperform investment-only approaches in our analysis.
Adding guaranteed lifetime income with a more aggressive asset allocation generates 29% more annual spending ability from one’s retirement savings (excluding Social Security) and reduces downside risk by 33%.
Life Insurance
Life Insurance can be a wonderful financial tool to protect you and your family.
First, you can create a policy that replaces your income, which your loved ones will receive tax free when you pass. These policies are considered term policies and usually require less premiums, and do not have cash accumulation.
Second, you can purchase a small policy (final expense) that helps take the burden off your family to cover end-of-life expenses. Most of these policies do not require medical exams and have very affordable rates.
Whole Life Insurance can do it all. These policies offer a cash value component that accumulates as policy premiums are paid. This cash value typically grows with a guaranteed minimum rate of return. Of course, like the previous examples, it provides a death benefit (tax free), but the insured also has the ability to borrow against the policy’s cash value without creating a taxable event or paying taxes on the growth. These whole life policies not only provide financial security for your loved ones after you pass, they also offer the ability to accumulate cash value, positioning it as an investment tool and savings account you can tap into while you’re still living.
Here at Core, we review all of your available options, which include all forms of life insurance. We want you to maximize all that you have accumulated, while also protecting the future needs of your loved ones.
Social Security
You have worked your entire life paying into the system, so it’s very important to us that you receive all the money you deserve from the government in retirement. Let us help you make sure you have a strategy regarding when you should take your benefits and help explain how the system works. We can clarify the differences between drawing this benefit at age 62 or waiting until full retirement age or beyond.
You can best maximize your social security benefit the longer you wait. You will receive 70% of the benefit amount if you start drawing income at 62. If you wait until full retirement age (age 67) you will receive 100%. Delay past full retirement age and Social Security increases your benefit 8% a year until you hit 70. Past 70 there is no additional advantage. If you take SS before full retirement age and are still working, your income is limited to $22,230 until the month before you turn 67. Your social security checks will typically increase by 3.2% based on the cost living, but it’s been quite a ride the last several years.
Taxation of your social security benefits work like this: If your total income is more than $25,000 for an individual or $32,000 for a married couple filing jointly, you must pay federal income taxes on your social security benefits. Below those thresholds, your benefits are not taxed. You will be taxed up to 50% of your benefits if your income is $25,000-$34,000 for an individual or $32,000-$44,000 for a married couple filing jointly and up to 85% if your income is more than $34,000 (individual) or $44,000 (couple).
If you are married and your spouse dies, and you are at full retirement you will receive 100% of your spouse’s benefit. If that amount is more than your personal benefit, you will receive their benefit and no longer receive your lesser benefit. If this occurs before full retirement age, the surviving spouse will receive between 71 ½ and 99% of the deceased worker’s basic amount. As you get closer to the full retirement age, the percentage goes up.
A person’s social security benefit is specific to the individual and the individual’s work history and income throughout reported life-long work . Social security is an essential part of a secure retirement. There is a tactical strategy WHEN you tap into social security income. It can be a permanent decision, or you can turn it on and off if it benefits you. We want to help you maximize your benefit and utilize this income that you’ve earned at the right time. We can help you make wise decisions.
Medicare Mastery
Heidi & Kevin have helped simplify and solve Medicare for more than 2,000 beneficiaries. We truly enjoy helping our clients make wise decisions about their health care so much, that we have a separate website dedicated to the single purpose of maximizing Medicare benefits for you. Check us out at CoreMedicare.com.
We are experienced, licensed experts on Medicare Supplements, Medicare Advantage Plans and Medicaid. We provide personalized, detailed, comparative analysis of your current health plan versus other options.
Final Expense
Final expense insurance is a whole life policy that pays medical bills and funeral expenses when you die. It’s also known as burial or funeral insurance. It’s a popular choice among seniors.
Most final expense plans have these features:
- Whole life insurance – no expiration if premiums are paid
- Cash value – insured may be able to take out a policy loan
- Fixed premiums as long as they’re paid
- Simplified issue – usually no medical exam (also called a life insurance exam) is required, just health questions on the application
- Easy application process
- Fast approvals – coverage can often be issued in days
- Affordable rates
Long Term Care
You’ve worked hard to make sure you have the financial security you want for you and your family. You have tried to prepare for the surprises that life may bring. Even the most well thought out strategy may not be enough to prepare you for the unexpected costs associated with long term care. It’s impossible to predict your chances of needing long term care, or how long you may need it. And it’s important to understand the financial impact a few years of long-term care may have. Most of us will need some extra help with everyday activities. The benefits of long-term care insurance go far beyond regular health insurance benefits.
Let’s face it, we are all living longer, which is fantastic, but with this, we also may be in need of long- term care in the future. Actually, about 70 percent of people over the age of 65 will require this type of care long term care which appears in variety of ways: home care, assisted living, adult daycare, respite care, hospice, nursing home and Alzheimer’s facility care. The average cost per year for these services and facilities range from $60,000 to $120,000 a year. This type of insurance can help the preservation of your hard-earned savings while also alleviating the burden on your loved ones, having to care for you. We can assist you in determining what plan might be best, whether it be traditional or hybrid and what fits your budget.
We’re Here to Help
Contact us to schedule a complimentary consultation today!