Tag Archives: Power of Attorney

What Is An Annuity?

Retirement Readings

October 19, 2016

WHAT IS AN ANNUITY?

In planning for financial security in retirement, an annuity can satisfy two basic objectives:

1. To accumulate retirement assets on a tax-deferred basis: If you’re already contributing the maximum to IRAs and any employer-sponsored retirement plans and need to save more for retirement, a deferred annuity may be the answer to your retirement savings need.

2. To convert retirement assets into an income that you cannot outlive: On the other hand, if you’re near or at retirement, an immediate income annuity can be used to convert existing retirement assets into a lifetime income.

An annuity is a long-term savings plan that can be used to accumulate assets on a tax-deferred basis for retirement and/or to convert retirement assets into a stream of income.

While both are insurance contracts, an annuity is the opposite of life insurance:

  • Life insurance provides financial protection against the risk of dying prematurely.
  • An annuity provides financial protection against the risk of living too long and being without income during retirement.

If you are already contributing the maximum to an IRA and/or an employer-sponsored retirement plan, an annuity can be an excellent way to save for financial security in retirement.

Contact my office if you’d like additional information on the role an annuity might play in your retirement planning.

MESSAGES
from the Masters…

THINKING LIKE A FARMER

by Jim Rohn

One of the difficulties we face in our industrialized age is the fact we’ve lost our sense of seasons. Unlike the farmer whose priorities change with the seasons, we have become impervious to the natural rhythm of life. As a result, we have our priorities out of balance. Let me illustrate what I mean:

For a farmer, springtime is his most active time. It’s then when he must work around the clock, up before the sun and still toiling at the stroke of midnight. He must keep his equipment running at full capacity because he has but a small window of time for the planting of his crop. Eventually winter comes when there is less for him to do to keep him busy.

There is a lesson here. Learn to use the seasons of life. Decide when to pour it on and when to ease back, when to take advantage and when to let things ride. It’s easy to keep going from nine to five year in and year out and lose a natural sense of priorities and cycles. Don’t let one year blend into another in a seemingly endless parade of tasks and responsibilities. Keep your eye on your own seasons, lest you lose sight of value and substance.

QUOTES
from the Masters…

On Personal Responsibility

“It is not what happens that determines the major part of your future. What happens, happens to us all. It is what you do about what happens that counts.”

— Jim Rohn

“Our ultimate freedom is the right and power to decide how anybody or anything outside ourselves will affect us.”

— Stephen Covey

“The amount of satisfaction you get from life depends largely on your own ingenuity, self-sufficiency, and resourcefulness. People who wait around for life to supply their satisfaction usually find boredom instead.”

— Dr. William Menninger

On Overcoming the Negative

“The greatest pleasure in life is doing what people say you cannot do.”

— Walter Bagehot

“As long as you think the problem is out there, that very thought is the problem.”

— Stephen Covey

“Hatred is the most destructive force on earth. It does the most damage to those who harbor it.”

— Nido Qubein

“You are positive, creative and happy to the degree to which you eliminate negative emotions from your life.”

— Brian Trac

Published by The Virtual Assistant; © 2016 VSA, LP

 © 2015 BenefitConsultantInc | All Rights Reserved

 

Retirement Planning: A Document Checklist

Retirement Readings

June 15, 2016

Retirement planning

DOCUMENT CHECKLIST

You may find this Document Checklist of assistance in your planning. Please contact my office if we can be of further assistance.

Document

Location

Personal

Birth Certificate

 

Marriage License

 

Pre- or Post-Nuptial Agreement

 

Will

 

Trust(s)

 

Living Will(s)/Power(s) of Attorney

 

Mortgage Papers

 

Automobile Titles/ Papers

 

Income Tax Returns

 

Gift Tax Returns

 

Insurance Policies

 

Employee Benefit Documents

 

Passport

 

Military Records

 

Medical Records

 

Citizenship Papers

 

Warranties

 

Current Bills

 

Funeral/ Burial Documents

 

Other:_______________

 

Business Ownership

Partnership/ Incorporation Documents

 

Buy-Sell Agreement

 

Section 303 Stock Redemption Agreement

 

Business Valuation/Appraisal

 

Business Tax Returns

 

Other:_______________

 

MESSAGES
from the Masters…

FOUR WAYS TO MASTER CHANGE

by Sheila Murray Bethel

We are living in exciting age of unprecedented change. Today’s accelerated rate of change presents us with unique challenges and opportunities. When change brings success, keep your ego from getting out of hand. When the change is negative, use your sense of humor to get through it. Once you learn to handle change, you can take your skills, talents, and abilities and help others change. Let’s look at four ways to enhance your mastery of change.

1. Don’t Fight It.

The natural tendency is to protect what you know and value, what has become familiar and comfortable. Unfortunately the world will change with or without you. So you must adapt again and again. You make your life so much more complicated when you fight the change. You cause yourself stress and can actually become ill. Remember the old Serenity Prayer: God grant me the serenity to accept the things I cannot change, The courage to change the things I can and the wisdom to know the difference.

2. You don’t have to like the Change.

No one ever said you have to like the changes you are experiencing. However, you do have to understand them so you can progress. Study, explore, and read everything you can about the current matters that affect your perception and handling of change. Life is not always about “liking.” It is about doing the best you can, with what you you’ve got and getting on with it–right now!

3. Know what to defend against change.

There are some things we should resist changing because change does not always translate into better. Change for the sake of change alone can destroy valuable situations, assets, and relationships. Many values deserve to be defended. Ask yourself what you will change and what you will defend.

4. Have a Sense of Humor.

Humor can give you a momentary “emotional vacation.” A sense of humor can conquer pretense, and diffused anger and hostility. It can take an impossible situation and change it into an acceptable one. The old axiom, “if you take yourself too seriously, no one else will,” is key. The most effective people are spontaneous and can use humor to express their feelings, and to encourage others.

When you set out to be a change master and to make a difference in this world, there is no guarantee that it will be easy. By learning about change, serving others and helping them to learn to change, you will indeed be making a difference.

QUOTES
from the Masters…

 

On Integrity

 

“Always do right! This will gratify some people and astonish the rest.”

— Mark Twain

“A “NO” uttered from deepest conviction is better and greater than a “YES” merely uttered to please, or what is worse, to avoid trouble.”

— Mahatma Gandhi

“The virtue of man ought to be measured, not by his extraordinary exertions, but by his everyday conduct.”

— Blaise Pascal

 

On Kindness

 

“I believe…that every human mind feels pleasure in doing good to another.”

— Thomas Jefferson

“The world is my country, all mankind are my brethren, and to do good is my religion.”

— Thomas Paine

“Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.”

— Leo Buscaglia

“Because the soul has such deep roots in personal and social life and its values run so contrary to modern concerns, caring for the soul may well turn out to be a radical act, a challenge to accepted norms.”

— Thomas Moore