Retirement Planning

Retirement is a whole new time of life with new risks and many decisions to make, like how to generate reliable retirement income, and when and how to file for Social Security and Medicare. At New Course Financial, we provide retirement planning. Together, we will look at all of your sources of income, including Social Security, and help you design a retirement income plan, taking future income taxes into consideration.

Advance tax planning for retirement is imperative. Even your Social Security benefit can be taxed—up to 85% of it—which is why it’s so important to map out a retirement plan. If you have a lot of your savings held in taxable accounts like traditional 401(k)s, all of that money will be taxed, and you will have to begin withdrawing money annually at age 73 (age 75 starting in 2033) and pay ordinary income taxes on the withdrawals. These are called RMDs or required minimum distributions, mandated by the IRS whether you need the money or not.

There may be ways to convert some of your taxable money to lower your long-term tax liability and give you more spendable income throughout retirement. There may also be ways to leverage premium finance strategies to fund your retirement. Another thing we will consider is longevity, and how to protect your funds to help ensure that you don’t run out of money at some point. Annuities or permanent life insurance may come into play as we examine your options.

Other retirement risks to hedge include losing a spouse (and their Social Security or pension check), developing health issues (it’s important to choose the right Medicare plan and review it annually) or becoming incapacitated and requiring nursing facility or home care, which is not even covered by Medicare. In this case, new hybrid long-term care insurance policy with living benefits may help by providing long-term care coverage if you need it someday, or a death benefit for heirs if you don’t.

For Business Owners

We can help you utilize premium-financed life insurance to help you revolutionize your retirement plan for yourself, as well as your employees. One of the key benefits of this approach is that there is no need for ongoing contributions, payroll deductions, and other administrative burdens.

How We Help

Unique Strategies Geared to Your Needs

Not only do we deliver financial services you probably won’t find elsewhere, we also collaborate with an expanded team and pool of professionals in many disciplines in many different states. Our strategic partnerships—with experts in the tax, insurance and legal fields—were established to help you with nearly anything financial that you may need for your business or your family, including advanced services and proprietary strategies.

Tools You Can Use

Empowering you with strategies to help you succeed

Life Insurance Plans for Retirement Income
Living Benefits
Charitable Giving
Buy/Sell Agreements
Key Person Policies
Private Financing
Tax Reduction Strategies
Estate Planning

Employee Benefits & Retention Tools
Business Exit Strategies
Estate Planning for Farmers, Ranchers and Land Holders
Strategic Partnerships That Bring Value to Your Business
Retirement Planning
Medicare Services

Services