Thursday, February 26, 2015

How to use the forgotten products for retirement security - Don't Worry, Retire Happy



The two most neglected products in retirement are long-term care and life insurance. Longevity is the #1 retirement risk that can multiple all other retirement risks, especially experiencing a long term care event. If 70% of seniors today use some form of assistance, what will that number be if life expectancy continues to increase? No other event can impact your retirement lifestyle than the catastrophic cost of long term care.

Most retirement advisers recognize the need to diversify asset holdings. But few diversify assets by taxation or qualified and non qualified monies. The tax advantages of life insurance can be significant during the time before required minimum distributions and maximized Social Security benefits. The withdrawals of basis and policy loans of gain from a life insurance (policy kept in force for the life of the insured), has the potential of generating tax free income. Positioning those distributions, in the right order, can have a dramatic impact on retirement income.

Syndicated financial columnist and talk show host Steve Savant interviews author, platform speaker and PBS television media guest Tom Hegna, CLU, ChFC, CASL. This is episode 4 of 5 in the series, Don’t Worry, Retire Happy from Tom's PBS Special. Tom's books: Paychecks & Playchecks, Retirement Income Masters and Don't Worry, Retire Happy.

About Steve Savant

Steve Savant

As the National Marketing Spokesperson for Ash Brokerage, Steve Savant looks forward to meeting financial professionals in every way possible - in person or by video through conferences and social media.

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