“But in this world, nothing can be said to be certain, except death and taxes”… Benjamin Franklin
Everyone plans to retire at some point, but every individual’s retirement looks very different. Some want to retire early and travel the world. Others look forward to quality downtime and more experiences with family. You may want to continue to work part-time or become a snowbird. Whatever your preference may be, our customized retirement plans provide detailed income and expense reports to help you achieve your goals. In addition to regular living expenses, it is critical to account for the two largest and often overlooked expenses: Taxes and Healthcare.
With healthcare expenses on the rise, we have dedicated resources to help you understand, evaluate, and apply for Individual or Married Couple’s Long-Term-Care, Medicare Supplement, Medicare Advantage plan, Disability, or Critical Illness Living Benefit Plans, as well as Dental and Vision.
As taxes continue to rise, we’ve often found that the adage of dropping into a lower tax bracket once you retire is oftentimes false. Thankfully for retirees, taxes in retirement can be controlled through careful planning. We specialize in evaluating your current and future tax liabilities. Then, we customize a savings and investment plan to minimize your total tax exposure before, during, and after retirement.
Additionally, we’ll help you navigate and optimize some of your most critical decisions: When is the best time to start your pension? What is the best filing strategy for Social Security? What rate of return and contributions do we need to make to achieve success?
Once the plan is finalized, we’ll meet on a regular basis to ensure you’re on track with your targeted goals. Variables are factored in so that you can have peace of mind knowing that you are securely on track for the retirement you desire and deserve.
Did you know that there are over 550 possible ways to file for Social Security benefits for a married couple today? Or that the Bipartisan Budget Act of 2015 eliminated numerous beneficial filing strategies and voided many others?
With no changes to the current structure, Social Security is projected to run out of money in 2033. From that time on, it will only be able to pay about 78% of all benefits for the next 60+ years. (OASDI Annual Report from Board of Trustees, 2018)
Social Security is the largest source of income in retirement for many working families , and nearly 44% of retirees live on Social Security alone. Because of so many rules and complexities, we are certified through the National Social Security Association or The Corporation for Social Security Claiming Strategies and are well versed in all aspects of Social Security Benefits.
Maximization or Optimization? Figuring out how to get the most money out of Social Security is easy, given you and your spouse’s ages, benefit amounts, and life expectancies, but our process seeks to optimize your benefit, incorporating the rest of your financial plan into the picture.
You may get the most money if you wait until you’re 70, but if it causes you to spend down your savings beforehand, it could cost you.
Whatever your financial situation, we’ll help you understand the different Social Security filing strategies, and how to best use them to meet your goals.
Since 1985, corporations have eliminated over 84,000 pension plans, and that number is increasing every year. (What Went Wrong, the Betrayal of the American Dream, Donald Barlett and James Steele.) Today’s retirement looks very different from generations past. Aside from Social Security benefits, many retirees have no guaranteed sources of income, but instead have employer sponsored 401(k) plans. It’s important to know what that 401(k) or IRA account translates into in terms of a guaranteed monthly paycheck.
What is the best option to take your pension? Is it worth paying an insurance company to guarantee you an income stream? How much risk do you need to take on to meet your income expectations? Our solutions focus on more than just a rate of return on a portfolio; they focus on how to turn that nest-egg into the retirement of your dreams.
Most financial plans focus on income requirements for housing, transportation, healthcare, food, and travel, but many leave out what is often the biggest expense retirees face: Taxes. Many people assume that they will drop into a lower tax bracket in retirement, but we’ve found that’s often not true. We’re currently in one of the lowest income tax environments in recent history, and the current brackets are set to expire in 2025. (2018 Tax Cust and Jobs Act)
Our financial planning expertise puts taxes at the forefront of every decision we make. A keen focus on the tax treatment of retirement assets allows us to minimize your overall tax burden, both today, and throughout your retirement.
Protect what you’ve spent a lifetime building. It is one of the greatest gifts you can give to your heirs. A financial plan is not complete without a comprehensive estate plan in place. Without an estate plan, assets may be subject to the costly and lengthy probate process and may lead to years of fighting between your heirs. For high net worth families, the combined federal and state estate tax could erode over 50% of your assets upon death.
A comprehensive estate plan ensures that your intentions are carried out, assets are protected, and taxes are minimized or even eliminated. In addition, your end of life medical wishes will be documented, and all your assets will be organized and accessible for your executors when the time comes.
When you register for an Online Review or a Live Workshop, you get the opportunity to have a personal One-on-One Meeting with your Educator/Advisor to get your custom Postal Employee Benefits Kit with a Tax-Free Evaluation including a complimentary Retirement Analyzer Plan!
For more information about your Postal Benefits & Retire-Ready Income for Life Report, Schedule an Online Review, Register for a Seminar, or Meet with your Postal Benefits Coach.
1. Start SMART
Knowing how your money works, how to navigate the tax laws effectively and how to build a reliable and dynamic plan is the foundation of the Smart Income Strategy, Inc. philosophy.
2. Grow SMART
Significant growth means having a well thought out plan, one that includes life’s variables, such as education, home purchases, and travel. Your personalized financial plan will help you continue to live wealthy and Smart.
3. Retire SMART
This is an exciting, but sometimes uncertain time. Can you maintain the lifestyle you’ve become accustom to? Retiring comfortably is more complicated than ever, that’s why we exist – to make a Smart Retirement a Reality.
Our Eduecational Workshops are designed to help you understand some of the foundational philosophies we follow when helping guide our clients through each of their life stages. Our no-obligation, strictly informational seminars will help you discover the answers to your questions.
Attend one of our free, no obligation seminars, or schedule an Online Review to learn more about how we can help you make your wealth outlive the next generation.
When you register for an Online Review or a Live Workshop, you get the opportunity to have a personal One-on-One Meeting with your Educator/Advisor to get your custom Postal Employee Benefits Kit with a Tax-Free Evaluation including a complimentary Retirement Analyzer Plan!
For more information about your RETIRE-READY Income for Life Report, Schedule an Online Review, Register for a Seminar, or Meet with your Professional Retirement Coach.
This material has been prepared for informational and educational purposes only. It is not intended to provide nor should be relied upon for accounting, legal, tax, or investment advice. Postal Benefits Information Center is not a federal government agency.
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