- Retirement Planning
- Income Tax Planning
- Social Security Claiming Strategies
- Medicare Supplement Planning
- Income Planning
- IRS/ROTH Planning [also 401(k), 457 and 403(b)]
- Estate Planning
- Long-Term Care Planning
- College Funding Planning
- Comprehensive Financial Planning
- Guaranteed, reliable, predictable income for life
- Tax Advantaged Income
- Income Continuity for Surviving Spouse
- Avoiding running out of assets
- Minimizing income tax liabilities
- Reducing or eliminating:
- market risk (is risking it all smart?)
- interest rate risk (is there anything better than zero?)
- longevity risk (living too long)
- inflation/deflation risk
- credit risk (global debt)
- mortality risk (dying too soon)
- morbidity risk (getting sick along the way)
- demographic risk (aging society)
- liquidity risk (or lack of)
Income Tax Planning
- It’s not what you make that counts, it’s what you KEEP!
- Tax strategies that optimize your after tax income.
- IRA to ROTH conversion processes: Are they good for your unique circumstances?
- Using the Internal Revenue Code “diamonds” and leveraging your ability to pay less taxes.
- Maximizing your tax deductions, especially the ones you (and your CPA) don’t know about.
Social Security Strategies
- Our certified national Social Security advisory training helps you optimize your benefits.
- Widow/widower benefits planning: How and when do you become qualified?
- Ex-Spouse benefits: Explaining eligibility criteria.
- Windfall Elimination Provision (WEP): A threat to some.
- Government Pension Offset (GPO): Navigating possible benefits reductions.
Claiming benefits isn’t just an age thing. It’s a tax-efficient income thing. Once you make a claim (and it’s the wrong one,) it is almost always irreversible. Take time and make certain you’re making the right choices.
Medicare Supplement Planning
- Comparing Medicare B and Medicare C (pros and cons)
- What Medicare supplemental plans are approved and available
- Why Plan G? That is the question, know what to look for.
- Medicare D: What are the top three plans available?
- What if you’re still working when you become eligible at age 65? What should you do?
- Active or passive? What do you have? What will you have in the future?
- Making tax-efficient choices: If you have to pay taxes, then pay at the lowest rates practical for you.
- When to take the IRA withdrawals: Is it smart to wait until you’re 72?
- Are your income sources/resources “insured”? If not, why not? Do you want that option?
- What about the “survivor’s” income?
- Are there Special Needs circumstances?
Tax-Deferred Account Planning
Keep Em – Convert Them – Pay the least in taxes? Is a ROTH in your future? How?
- Do you have up-to-date documents?
- Revocable Living Trust
- Living Will (aka Directive to Physicians) Do you want DNR (Do Not Resuscitate) to be included?
- General Durable Power of Attorney
- Healthcare Durable Power of Attorney
- Are there other efficient ways to avoid probate?
- Beneficiary designations
- Lady-Bird Deed
- “Beneficial” owner car title
- Special Needs Trusts: Keep their welfare benefits intact after you die and they are one of your heirs
- Life insurance trusts
- Charitable trusts
There are many potential tools to keep your estate affairs orderly and private—you get to choose now.
Long-Term Care Planning
- What is the current plan to cover these expenses when they occur?
- Avoiding mandatory Medicaid (government-sponsored long-term care): Spend down – what are the rules?
- If not long-term care insurance, then what?
- Being tax smart: How you pay for the plan you use. Get a tax deduction.
- Be tax smart on the benefits you receive when you claim them. How about tax free?
- Expenses must be paid. Either by you with a plan, by your family without a plan or by the government and they take everything.
College Funding Planning
- If this applies to your family (including grandkids) are you being tax smart in how you’re doing it?
- Optimizing the potential for grants and loans.
- Using the right financial planning tools so that if plans change you can too.
Did you know 529s can be expensive and inflexible?
Comprehensive Financial Planning
- An integrated coordinated holistic approach to your financial future.
- Discounts mean something is getting left out.
- Use an “a la carte” method to personalize your plan.
- Remember you get what you pay for!
In most cases you should include all eight areas of financial planning in developing your flight plan for Succeeding at the Business of Retirement.
Choose an advisor capable of serving in all eight disciplines, otherwise you could face a committee of different specialists and no coordinated integrated agenda.
S & V., Meyerland, TX
C, Conroe, TX
Over the past 10 years, you’ve shown incredible grace and patience in helping us prepare and plan for getting older. Thank you for making certain we now live without fear of running out.
Dr. N and S. The Woodlands, TX