Retirement is suddenly approaching and you haven’t saved enough! What can you do? Owning a bunch of bank CDs won’t do it. Paying off the house isn’t enough. You need a PLAN! This is where it starts. Start right now with our practical and inspiring list of Nine Ways to Catch Up on Retirement Funding.
Employer-sponsored qualified retirement plans such as 401(k)s are some of the most powerful retirement savings tools available. If your employer offers such a plan and you're not participating in it, you should be. Once you're participating in a plan, try to take full advantage of it.
Protect Your Retirement
If you want to have a safe and secure investment then consider the
Prentiss Group’s U. R. the Bank program. It’s one way to assure your
money will be there when you need it. Learn more – click here.
Now, here are the details of employer-sponsored retirement plans...
The Prentiss Group offers a variety of retirement strategies for your peace of mind. We go out of our
way to make sure your retirement funds are safe and secure. Make sure and ask about our GRIP Program which stands for Guaranteed Retirement Investment Program that is designed to give you the safety and security you deserve in this volatile economy. Now, here's what you need to know about 401 (k) plans.
Retirement plans established under Section 401(k) of the Internal Revenue Code, commonly referred to as "401(k) plans," have become one of the most popular types of employer-sponsored retirement plans.
A 401(k) plan is an employer-sponsored retirement savings plan that offers significant tax benefits. You contribute to the plan via payroll deduction, which can make it easier for you to save for retirement. Perhaps the most important feature of a 401(k) plan is your ability to make pretax contributions to the plan. Pretax means that your contributions are deducted from your pay, and transferred to the 401(k) plan, before federal (and most state) income taxes are calculated. This reduces your current taxable income. You don't pay income taxes on the amount you contribute--or any investment gains on your contributions--until you receive payments from the plan. For example, Melissa earns $30,000 annually. She contributes $4,000 of her pay to her employer’s 401(k) plan on a pretax basis. As a result, Melissa's taxable income is now $26,000. She isn’t taxed on her contributions ($4,000), or any investment earnings, until she receives a distribution from the plan.
You may also be able make Roth contributions to your 401(k) plan. Roth 401(k) contributions are made on an after-tax basis, just like Roth IRA contributions. Unlike pretax contributions to a 401(k) plan, there's no up-front tax benefit--your contributions are deducted from your pay and transferred to the plan after taxes are calculated. But a distribution from your Roth 401(k) account is entirely free from federal income tax if the distribution is qualified, as discussed below.
Many 401(k) plans let you direct the investment of your 401(k) plan account. Your employer will provide a menu of investment options (for example, a family of mutual funds). But it's your responsibility to choose the investments most suitable for your retirement objectives. Protect Your Retirement
If you want to have a safe and secure investment then consider the
Prentiss Group’s U. R. the Bank program. It’s one way to assure your
money will be there when you need it. Learn more – click here.
As the FDIC bails out banking blunders you have to wonder if your bank CDs are safe. There's no need to panic but with all of the ups and downs of this market you have to do your homework. Can you count on bank CDs as a safe and sensible investment in this economy? Bank CD rates are up but with all the banks in trouble right now do bank CDs make sense when you need both security and yield with your investments? While the highest bank CD rates might get your attention, most CD rates are floating around 2to 3% with a few spikes here and there.
Learn more about bank CDs by watching this brief and informative video we produced.
We're not saying you should dump your bank CDs but we are saying you should know your options. What if you could earn two or three times what your bank CDs earn while enjoying certain tax benefits? Wouldn’t it be worth learning more? By the way, if we give you a formal proposal, we’ll also give you, FREE, Ellen Hoffman’s "The Retirement Catch-Up Guide." We never put our client’s hard earned money at risk. Call to learn more or click here to request a proposal.
Alternatives to Certificates of Deposit When you deposit your money into a bank CD will your bank write you a bonus check just for investing? Not likely - but we will.* For a limited time, you can get a check back just for investing. Use if for a little fun money or simply reinvest it to earn even more.
In today's corporate environment, cost cutting, restructuring, and downsizing are the norm, and many
employers are offering their employees early retirement packages. But how do you know if the seemingly attractive offer you've received is a good one? By evaluating it carefully to make sure that the offer fits your needs.
What's the severance package?
Most early retirement offers include a severance package that is based on your annual salary and years of service at the company. For example, your employer might offer you one or two weeks' salary (or even a month's salary) for each year of service. Make sure that the severance package will be enough for you to make the transition to the next phase of your life. Also, make sure that you understand the payout options available to you. You may be able to take a lump-sum severance payment and then invest the money to provide income, or use it to meet large expenses. Or, you may be able to take deferred payments over several years to spread out your income tax bill on the money.
Safer Investment Options
If you want to have a safe and secure investment then consider the
Prentiss Group’s U. R. the Bank program. It’s one way to assure your
money will be there when you need it. Learn more – click here.
Should you tap your retirement funds to help pay your child's college expenses? Well, you can. But is it a good idea?
The double problem with double dipping
Financial professionals generally recommend using your retirement funds for one purpose only--retirement. Why? Because frequent dips into your retirement funds will reduce your ultimate nest egg. Plus, there will be less money available to take advantage of the twin benefits of tax deferral and any compounding earnings. Depleting your retirement funds too soon can create a dire situation. Remember, there is financial aid available to help pay for college, but none for retirement.
Before you dip, take this trip...
If you want to have a safe and secure investment then consider the
Prentiss Group’s U. R. the Bank program. It’s one way to assure your
money will be there when you need it. Learn more – click here.
You know how important it is to plan for your retirement, but where do you begin? One of your first steps
should be to estimate how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors. However, by doing a little homework, you'll be well on your way to a comfortable retirement.
Safety First
If you want to have a safe and secure investment then consider the
Prentiss Group’s U. R. the Bank program. It’s one way to assure your
money will be there when you need it. Learn more – click here.
As our economic roller coaster continues, it seems as thought this is a good time to remember the basics. "This too shall pass" is important to remember during the good and the not so good times. Here's a review of the basics. Send this to a friend or loved one who is in a panic about their financial future....
You may have a very idealistic vision of retirement--doing all of the things that you never seem to have time to do now. But how do you pursue that vision? Social Security may be around when you retire, but the benefit that you get from Uncle Sam may not provide enough income for your retirement years. To make matters worse, few employers today offer a traditional company pension plan that guarantees you a specific income at retirement. On top of that, people are living longer and must find ways to fund those additional years of retirement. Such eye-opening facts mean that today, sound retirement planning is critical.
Safety First
If you want to have a safe and secure investment then consider the
Prentiss Group’s U. R. the Bank program. It’s one way to assure your
money will be there when you need it. Learn more – click here.
But there's good news: Retirement planning is easier than it used to be, thanks to the many tools and resources available. Here are some basic steps to get you started.
Determine your retirement income needs
Many experts suggest that you need at least 60 to 70 percent of your preretirement income to enable you to maintain your current standard of living in retirement. But this is only a general guideline. To determine your
specific needs, you may want to estimate your annual retirement
expenses.
As the economy gyrates and our minds spin we must keep in mind that old saying, "This too shall pass." Funny thing is, we should have been saying that when the boom was on. All good things and bad things come to an end. That's life right? So, in the short run, this is a good time to keep closer tabs on all things financial. When I hear of someone struggling to make ends meet and they still have 300 digital channels coming in on their satellite dish or they eat out for fast food five days a week, I don't have a lot of sympathy. Who's causing this economic st
all anyway?
There's always an upside to the downside when we have the courage to look at our lives and our spending habits. The word "overindulgence" describes the lifestyle of far too many Americans. Now, I'm not against enjoying nice things and "if you've got it flaunt it" is fine by me but during this little economic squeeze I think we have a great opportunity to re-evaluate our priorities. Yes, check your investments, play it safe, pull in your spending a bit but more importantly, use this time to check your bigger picture.
It's much more meaningful to give your children memories than money. I have one child in college and one about a year away and I definitely realize I can always find ways to make money but I have very few opportunities to make memories with my growing kids. So, maybe the big boy toys and the over-sized entertainment upgrades aren't that important as we weather out this economic storm. Maybe what's really important is reducing my electrical bill by shutting off this darn computer, unplugging the TV and going outside to play a little ball with the boy. I might even lose a few inches around the waistline in the process. That's a much better way to tighten the old belt during this little economic bump in the road.
News Release: Trying to Find Life Insurance Over 50 and Retirement Planning Issues Addressed with National Author’s Retirement Catch-Up Guide Giveaway. www.GuaranteeMyMoney.com. Like getting life insurance over 50,
getting caught up on your retirement planning can be just as difficult. To help educate clients on how to catch up when they haven’t been on top of their retirement planning or they’re looking for life insurance over 50, the firm is giving away national author and Business Week Online columnist’s book, “The Retirement Catch-Up Guide – 54 Real-Life Lessons to Boost Your Future Resources Now!” One solution to retirement planning and life insurance over 50 is the Prentiss Group’s new fixed rates of return that are guaranteed safe in their U. R. The Bank program.
The firm uses this premium financing Program to create higher rates of return so that premium financing can be used for those looking for life insurance over 50. Premium financing allows the insurance applicant to finance, over time, premium payments that might otherwise be cost prohibitive.
Ellen Hoffman’s book will be given away to any new client who allows the firm to make a written proposal to them. The proposal may be for someone looking for life insurance over 50, premium financing, or any of their Guaranteed Retirement Income Plan® products. Ellen Hoffman was recently interviewed about today’s challenging economy and what retirement strategies make the most sense on Vitality Talk on the Vitality Radio Network. That interview can be heard at www.GuaranteeMyMoney.com.
“It’s never too late. No matter how old you are or how little you’ve saved, you can become retirement-prepared, says Hoffman. Glenn Duggins, CEO for the Southern California retirement and estate tax planning firm says, “Her message fits in perfectly with the Prentiss Group’s guaranteed, safe, and sensible financial products. The recently announced U. R. the Bank program addresses the country’s insecurities right now. “Our U. R. The Bank product is designed for those who want to make two or three times what their bank CDs are making. It is designed for people who need help financing their insurance premiums and obtain insurance over 50. It’s designed to beat the odds so many Americans are willing to play in stocks and mutual funds.”
This program competes directly with the billions of dollars tied up in under-performing CDs or certificates of deposits. While many people feel secure knowing there is little risk with their FDIC insured bank CD, they may not realize that this poor investment may be costing them a fortune in lost opportunity. By the time someone earns 2.7% and then pays taxes on it, there just isn’t much left. The alternative is the U. R. the Bank program which is likely to pay as much as triple what many CD’s pay. “Giving away the free Retirement Catch-Up Guide is just another way to encourage people to learn more about managing their money. It’s a great book and we’re hoping to give away a lot of them,” said Duggins. To get a free book, consumers simply need to visit www.GuaranteeMyMoney.com or call the company direct at 888-474-7967.
Learn more about the pros and cons of Certificates of Deposit (CDs). watch this video with Prentiss Group VP, Joshua Duggins.
The Prentiss Group is your Retirement and Estate Tax Planning Specialist in Southern California. Visit www.GuaranteeMyMoney.com for more information. U. R. the Bank is part of the Guaranteed Retirement Income Plan® or GRIP. ###
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