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Planning & Advice
What will retirement look like for you? Have kids and want to send them to college? Is your dream to travel the world one day? What about your emergency fund? You need a financial plan.
Let Legacy Planning Group help you navigate life's big transitions and bring clarity to your decision-making.
Certain questions take on paramount importance when approaching the retirement years. First, how long should you expect retirement to last? Second, how much is this new phase of life expected to cost? Third, what sources of income do you anticipate having? Fourth, what investment strategies can help you pursue the goals you have for retirement?
When approaching certain milestones or adjusting to unexpected changes, new risks are introduced. You may find yourself willing to forego return potential for steady income. A change in your mindset may drive changes in how you shape your portfolio and the investments you choose to fill it.
Are you properly insured? Who are the beneficiaries listed on your accounts? When should you start saving for college? Are you doing what is best for your family? Protecting your income and lifestyle is one of the most loving things you can do for your family, by making sure they’re taken care of even if you can’t be the one there to do it.
Protecting Your Income
Your changing definition of risk
As your life changes, so does the help you require. Whether you are approaching retirement, celebrating a milestone, or adjusting to a sudden unexpected change — you may experience a change in mindset. It’s less about finding the “best-performing fund” and more about consistent performance. It may be less about a risk continuum—that stretches from conservative to aggressive—and more about balancing the objectives of maximizing your income and sustaining it.
At Legacy Planning Group, we will be here for you every step of the way.
Annuities are versatile tools that can help you save for retirement and generate income in retirement.
An annuity is really just a long-term contract between you and an insurance company. You pay a set amount (either in a lump sum or a series of payments) and the insurance company agrees to pays you back over time, either beginning immediately or at some predetermined point in the future. The repayment can be set for a specific period of time, or for life.
Similar to a 401(k), growth within an annuity is tax-deferred, which is why they’re sometimes used as a retirement or estate planning tool. But unlike a 401(k), you won’t be eligible for a tax deduction based on your contributions to an annuity.
There are two main types of annuities.
Fixed annuities offer a guaranteed payout, usually a set dollar amount or a set percentage of the assets in the annuity.
Variable annuities offer the possibility to allocate premiums between various subaccounts. This gives annuity owners the ability to participate in the potentially higher returns these subaccounts have to offer. It also means that the annuity account may fluctuate in value.
Indexed annuities are specialized variable annuities. During the accumulation period, the rate of return is based on an index.
It's a great idea to set an annual date to review your policies, accounts and beneficiaries and make sure they still correctly reflect your wishes. Here's a list of some life events that may signal you to sit down and review what you have and your plans for them:
If you’d like, you can set your beneficiary review date to coincide with our annual account review, and we can do it together. Let’s get together soon.
Investing involves risk including the potential loss of principal. No investment strategy, including diversification, asset allocation and rebalancing, can guarantee a profit or protect against loss.
Neither LPL Financial, nor its registered representatives or employees, provide tax or legal advice.
*Guarantees are subject to the claims-paying ability of the issuing insurance company.