Retirement Solutions

Retirement Income Planning

Generating reliable streams of retirement income used to be a straightforward process with little deviation. Investors would assemble a balanced portfolio of stocks and bonds (in the tried and true 60/40 stock-bond ratio) and withdraw four percent per year during their retirement years. These withdrawals would supplement income streams from social security, pensions, part-time employment, and other investments such as rental property. Today, the typical 60/40 strategy is largely ineffective…and following it may even put you at financial risk with regards to having enough income in retirement. Studies show that retirement strategies relying on traditional 60/40 balancing with no annuity have a higher risk of failing to provide required retirement income needs. By helping you combine traditional investments with annuities, we can help increase the odds of meeting your retirement income goals over your lifetime.

We can help you explore:

  • Fixed Index Annuities

    Fixed index annuities combine guaranteed lifetime you can’t outlive with a death benefit that allows you to pass remaining principal to your beneficiaries. Fixed index annuities also guarantee 100% principal protection and provide a minimum growth guarantee for the life of a contract…even if the markets never go up. Lastly, fixed index annuities allow you to participate in stock market growth while also providing 100% protection against stock market declines.
  • Hybrid Annuities

    With hybrids, retirees have the potential to realize growth rates of 5 to 7 percent in addition to potential gains from positive market performance. These products also offer the ability—within limits—to have guaranteed income levels indexed to inflation with no market downside risks. There are even options offering control of account assets to cover unexpected expenses, as well as the ability to leave the full value of the account to heirs minus any withdrawals.
  • Deferred Annuities

    Deferred annuities delay payments of income until the policyholder elects to receive them, such as at age 85 and after. Deferred annuities have two primary phases: the wealth-building phase in which the policy owner makes contributions; and the income phase, whereby the plan is converted into an annuity and retirement income is generated.

    To learn more about annuities, visit this page on our annuity website.

Tax-Free Retirement Strategies

We believe people with a robust portfolio need specialized solutions in order to protect their income from taxes, stock market risk and unforeseen circumstances. Generating tax-free income during retirement is a sophisticated solution for those seeking to protect their savings and live a more tax efficient retirement. Our tax-free retirement income strategies help you avoid tax liabilities or early retirement penalties later down the road. With a host of coverage options, flexibility, and tax advantages, certain permanent life insurance products can be a valuable part of your overall tax, retirement, and legacy planning strategies. Clients seeking tax-free retirement income planning options may be interested in learning more about fixed index universal life (FIUL) insurance. FIUL provides death benefit protection, but it also enjoys the potential to accumulate cash value based on positive stock market performance. That gives it the opportunity for greater accumulation potential than traditional universal life insurance; and the built-in annual floor ensures that the cash value will not decrease due to market volatility. Just like fixed index annuities, the cash value of an FIUL is not directly invested in the market, which protects your principal 100% from loss.

Tax-free retirement income strategies can provide:

  • Tax-free income during retirement
    You can live a tax efficient retirement. Generate retirement income by tapping into your available cash value – income-tax-free – through policy loans that can help supplement your income, pay off debts, or pay for emergencies and unexpected events. These strategies allow you to grow your savings without facing constraints such as Roth contribution limits.¹
  • Tax-free death benefit for your loved ones
    With tax-free income strategies, you’ll enjoy the peace of mind knowing that when you die, your beneficiaries will receive an income-tax-free death benefit.
  • Opportunity to accumulate wealth
    You may be able to accumulate wealth with tax-free strategies. Your policy’s cash value has the potential to grow with the markets! Your premium payments can also help increase your policy’s cash value and grow tax-deferred. All gains are locked in annually and guaranteed to never decrease because of market downturns. This solution for generating income during retirement is a sophisticated way to secure your savings.

1: Loans/Withdrawals may reduce cash value and/or the death benefit. They may also cause the policy to lapse. Depending on the status or classification of the policy the withdrawal may not be tax-free. Individuals should consult their financial professionals.

Long Term Care Insurance

Like many people planning for retirement, you may have a portion of your assets ear-marked for long term care. Let us show you how to shift that risk and leverage up to 9x your money – plus, if you never need the care or you change your mind, you can access the cash value. Since nursing home or in-home care needs can come out of nowhere, you should seriously consider long-term care insurance for a more secure retirement. According to the U.S. Department of Health and Human Services, nearly 70 percent of people turning age 65 will need long-term care at some point in their lives. Unfortunately, less than one-third of Americans aged 50-plus have a plan in place to protect their retirement assets should long-term care expenses arise. Long-term care insurance is designed to cover a variety of services such as personal care either at home or in a nursing home. Factors impacting the costs of individual long-term care policies include age, health, scope, and length of coverage. As a leader in modern retirement planning, we can help you with a variety of quotes for LTC insurance from a broad range of companies. Give us a call at 972-473-4700 or schedule an appointment. We look forward to hearing from you!

Estate and Legacy Planning

We believe that estate and legacy planning starts with … you. Protecting your lifestyle in the here and now gives you the freedom to explore how you can continue to make an impact long after you’re gone. Once a solid financial plan is in place for you, we can help you evaluate and implement smart ideas that will leave a lasting impression on the people you love and the causes you believe in.

Protecting Your Lifestyle

Retirement Income

Long-Term Care

Asset Preservation

Spousal Income Needs

Securing Your Family’s Future

Estate Planning

Living Trusts

Estate/Asset Protection

529 Planning

Giving Back to Your Community

Legacy Planning

Civic, Religious, Community Groups, Favorite Charities

Other websites by DeWitt & Dunn Financial Services:

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