The era of retiring with a pension and worry free Medicare is officially over. These days, J. Elvin explains to his clients that retirement is a three legged stool. It depends on a blend of Social Security, Medicare , and lifetime income. And, as more than half of current retirees are running out of money faster than they planned, time is of the essence to invest in an income resource.
Insurance companies have responded to this need with guaranteed lifetime income plans. These products offer surprisingly generous returns (4.5-7 percent compounded growth as opposed to fractions of a percentage elsewhere). They are backed by some of the nation’s most respected insurance brands.
One client came to J. Elvin with a modest $100,000 saved up to last the rest of her life. He turned it into more than $11,000 of guaranteed income after 10 years. Add that to Social Security, and the financial gap for a household disappears. It made comfortable retirement a real possibility. “These opportunities are not offered by the big banks. So many people remain unaware of this potential’ J. Elvin remarks. ‘I get great satisfaction from watching a client secure their financial future with a little help from me.”
As if financial concerns weren’t enough for his clients, S2S Silver Services also came along at a time when healthcare was about to go through a dramatic and rapidly changing time. “As a result of the Affordable Care Act, there have been many recent changes in company health plans,’ J. Elvin notes. ‘The trend is for some companies to drop spouses from their health plans, and many small companies are terminating their health plans entirely. Often, those companies refer their employees to me.”
With all of the above mentioned concerns, contact J. Elvin at S2S Silver Services. Let him look at your retirement planning thus far. Guaranteed lifetime income plans are a win for everyone. Even if you haven’t begun to plan, let him help you get started so that your retirement is reachable and comfortable.
Nearly 45 million people are enrolled in Medicare due to their age, and around 90% of Medicare participants rely on supplemental plans to complete their coverage. But if you are healthy and not currently taking any prescription medications, do you really need Medicare Supplement plans in addition to your regular policy?
No one likes to think that their health could fail at any point, or that it will likely decline as you age. But it is important to keep these thoughts in mind, especially since the average 65-year-old American has a 70% chance of needing long-term care services in their lifetime.
When you take into consideration that the average medical expenses of a 65-year-old couple can total around $218,000 over 20 years, it's clear why so many people choose to invest in long-term care insurance. For the same reasons, Medicare supplement plans could be a huge money saver in the post-retirement years to come.
If you are wondering whether long-term care insurance is the right financial decision for you, then keep reading to learn more.
I have received so many questions over the years regarding the safety of certain investments so I would like to share with you about "safe" and "no risk" investments. I would like to define what those terms mean and how they apply to financial planning. Customers often believe investment choices are supposed to become more conservative and less risky as they approach retirement. They don't always know how to evaluate an investment's risk.