Retirement planning is essential to securing a level of comfort for you and your family when you retire. The most important steps to a happy retirement are saving and investing your money. After working for a long time, a big rest is exactly what you need. Whether you want to travel, pick up a new hobby, or just relax in your retirement, it’s important to plan for those “golden years”.
We can help you plan for your retirement years with a wide variety of investment vehicles and insurance products as shown below.
A 401(k) plan allows you to postpone receiving a portion of your salary until you retire. You chose the amount of income you’d like to “send to the future,” or defer annually. Advantages of a 401(k) include:
- Chance of lowering your income rate by deferring a portion of your taxable income.
- Ability to access the money for certain situations like buying a house, college fees, or in some hardship situation.
- Your Social Security contributions and benefits will not be impacted by your 401(k) plan.
- Your account is transferable – so you can take it with you from job to job.
Securities offered through First Heartland Capital, Inc. Member FINRA & SIPC. UNICO Financial Advisors is not affiliated with First Heartland Capital, Inc.
Long Term Care
Lifetime Asset Protection
One of the numerous benefits of a partnership policy is that it allows you to keep an equal amount of money as you had in long term care insurance benefits and still qualify for Medicaid rather than having to spend-down your savings to meet Medicaid requirements (which is now $2,000).
For example, if your long term care insurance benefits totalled $250,000 and you exhausted the benefits, like everyone else you can keep $2,000 in cash, plus because you had a Partnership policy you can keep an additional $250,000 and qualify for Medicaid benefits. Wouldn’t your lifestyle be better with $252,000 than $2,000?
Long-term care insurance includes coverage for any of the following types of benefits:
- institutional care (convalescent facility, nursing home, extended care facility or personal care facility);
- home care (including home health care, personal care, homemaker services, hospice or respite care);
- community-based care (including adult day care, hospice or respite care).