LONGER LIFE EXPECTANCIES CAN MEAN A NEED FOR MORE MONEY TO ENSURE A COMFORTABLE RETIREMENT. YET MANY FACE SAVING SHORTFALLS DUE TO CAREER AND FAMILY CIRCUMSTANCES, SOMETIMES BEYOND THEIR CONTROL. TO ADDRESS THESE REALITIES, YOUR ASSETS NEED TO WORK SMARTER. MASSMUTUAL FINANCIAL PROFESSIONALS . KNOW HOW TO LISTEN AND WILL GIVE YOU THE TRUSTED GUIDANCE YOU'RE SEEKING. I'LL HELP YOU CREATE AN EFFECTIVE APPROACH, CONSIDERING NEEDS LIFE PREDICTABLE INCOME, GROWTH POTENTIAL, AND ACCESS TO CASH FOR UNEXPECTED EXPENSES.
FINANCIAL PLANNING RETIREMENT PLANNING INVESTMENT PLANNING LIFE INSURANCE ASSETS MANAGEMENT
Harrison Xu, Mass Mutual Financial Professional I WILL HELP MANAGE YOUR MONEY TODAY!!
(917)545-6475; FREE CONSULTATION
Annuities can be an extremely valuable addition to your retirement plan, if you know how best to use them. They can help protect you against market downturns and provide a long-term source of income.
An annuity is an investment vehicle that is also considered an insurance product. They pay an income to recipients ("annuitants") and offer a predictable stream of income. They can be purchased on an immediate basis, meaning they pay an income stream immediately after you fund them, or on a deferred basis in which they take several years to grow before the income stream begins. Types *
Annuities can be fixed investments or variable. As fixed investments they grow at a guaranteed rate that can range from 2 percent to 5 percent although this range is not definitive as interest rates and overall market performance can change it during the time the annuity grows. As variable investments, they grow or decline based on the underlying investments you choose. Significance *
Annuities are meant to provide a stream of income for a guaranteed period of time. That period can be a certain number of years, your entire life, or for the lives of you and a joint annuitant. Potential *
Qualified annuities offer tax-deferred growth and can provide a tax-free income after you have retired. Misconceptions *
Many people think that if they die their estate will not get the funds in their annuity. While this is true of some annuities, it is not true of all. Expenses *
Annuities have a policy fee that is comparable to a mutual fund. They can be purchased inside IRAs (individual retirement accounts) and do not cost the annuitant commissions such as through purchasing stock.
DISABILITY INSURANCE By Ginger Applegarth MSNBC
Ask any financial planner or insurance agent what risk could be called "the forgotten risk," and, chances are, the answer will be disability. Their clients often come in the door questioning whether they have too little, too much or the right kind of life insurance, but rarely have they thought about how they could survive financially with no earned income.
In reality, disability insurance is as important as (and in some cases, even more important than) life insurance. Facing the numbers At any given age, the odds of becoming disabled are much higher than the odds of dying. Every year, 12% of the adult U.S. population suffers a long-term disability. One out of every seven workers will suffer a five-year or longer period of disability before age 65, and if you're 35 now, your chances of experiencing a three-month or longer disability before you reach age 65 are 50%, according to the National Association of Insurance Commissioners (NAIC). If you're 45, the figure is 44%.
These odds would not be a problem if people had substantial savings that could be drawn on in the event of a disability. But that's rarely the case, and any money that has been set aside has likely been earmarked for goals such as college or retirement. In a 2007 NAIC survey, 56% of adults said they would be unable to meet their expenses if they couldn't work for a year.
LIFE INSURANCE Income Replacement *
If you are a working spouse, chances are your family relies on your income to pay bills. A life insurance policy can help to replace that income when you're gone. Debt Payoff *
When you die, your family will still owe the debt you have. A life insurance policy can help them pay off that debt. Funeral Expenses *
Funerals are expensive. Life insurance policies give your family a means of paying for your funeral that won't affect their budget. College Tuition *
Left alone, your spouse may no longer be able to fund your children's college savings plans. A life insurance policy can provide funds to pay for their schooling. Estate Taxes *
If you have a large estate to pass on to your heirs, then there will be estate taxes to pay. A life insurance policy can provide the funds necessary and prevent the liquidation of your assets.