That is a question that many Americans are asking. And it’s not surprising why. From retirement presentations and dinner seminars to weekend financial talk shows and radio commercials, safe money is a common theme in many public forums.
Generally speaking, a broad definition of safe money is “the money you can’t afford to lose.” Since everyone has different needs, goals, and situations, this concept means different things to every person. For some, safe money could be lifelong savings they have built up and need to preserve. Or it might be accumulated wealth that needs to be protected from risk, as it will be a source of retirement income.
For others, it could be a stockpile of money they will need at a certain time, like funding their children’s college education, paying off the mortgage, or buying a luxury item for which they saved a long time. Yet for some other Americans, safe money might be a future account balance – a sum of money that they want to grow safely and efficiently.
So, the answer to “what is safe money?” is it depends. Your own needs, goals, and situation provide the financial context of its meaning. But boiling down to the essentials, safe money is about security and protection… money that is safe and as free from unnecessary risk as is possible. Read More
Brent Meyer, President and Founder of SafeMoney.com and a wealth brokerage owner, recently joined Protect Wealth Academy (PWA) for an insightful discussion. PWA educates investors on asset protection, tax minimization, and wealth creation. With over 23 years in the financial services industry, Meyer shared his expertise on annuities, life insurance, and retirement planning strategies. He emphasized the importance of planning for a long retirement and offered effective strategies for growth, income, and protection using guaranteed insurance contracts.
Why SafeMoney.com Was Started:
Meyer noticed a gap in accessible, practical retirement planning information.
SafeMoney.com aims to provide unbiased financial education and clarity for consumers.
Common Retirement Myths:
Many believe they are retirement
-ready due to disciplined savings, but longevity risk and inflation can impact their plans.
Fee-based planning can also pose conflicts of interest, as advisors might prioritize fee-generating accounts.
Annuities and Their Role:
Annuities are often misunderstood; they are not investments but transfer-of-risk strategies.
They provide contractual guarantees and should be part of the retirement portfolio foundation.
Effective Wealth Creation Strategies:
Fixed index annuities offer tax-deferred growth without contribution limits.
Cash value life insurance policies provide tax-free income and are useful for minimizing taxes in retirement.
Understanding Life Insurance:
Indexed universal life insurance offers growth potential linked to market indices with protective features like caps and floors.
Common Estate Planning Mistakes:
Procrastination and not considering the impact of taxes can undermine estate plans.
Life insurance can provide liquidity and cover estate taxes, ensuring beneficiaries receive the full estate value.
Preparing for Long-Term Care:
With high costs for nursing homes and in-home care, early preparation is essential.
Life insurance with living benefits can help cover care costs without depleting retirement savings.
Future of Retirement Planning:
Economic conditions and longer life expectancies may drive a shift toward annuities for guaranteed lifetime income.
For more insights and strategies on retirement planning, visit SafeMoney.com and explore their resources.
Are you considering different annuity options for your retirement portfolio? An annuity is a type of insurance product, purchased from a life insurance company and/or an annuity company. Annuities are popular retirement options due to the safety they offer for your money, the potential for tax-deferred growth, and their reliability for giving permanent, lifelong income.
That being said, sometimes it can be confusing when you try to make sense of different annuity types, contract features, benefits, and downsides. Since you would commit a sum of your money to an annuity contract for a period of time, it’s prudent to do research and develop an understanding of your annuity options before committing to any financial decision. Here is a short guide to help you get started on understanding the different annuity options. Read More
A number of recent studies indicate that today’s Americans have a higher life expectancy compared to previous generations. The Social Security Administration suggests that after reaching the standard age of retirement, 65, U.S. men and women may anticipate living at least a couple of decades more.
There is no denying the fact that a longer life is a reason to celebrate. However, this increased longevity certainly adds new challenges in the process of retirement planning. While living a longer life is a worthy milestone for most, whether it will be enjoyable is largely based on the question of whether its quality is high. So, it’s prudent to pay careful attention to longevity risk in retirement planning – that way you are well-prepared for the uncertainty of potentially spending decades in your post-work life stage. Read More
Are your retirement nest eggs secure? Have you considered what happens to your hard-earned savings after you’re gone? One question often looms large for retirees and those planning for retirement: are annuity death benefits taxable?
The short answer is: it depends. Annuity death benefits are taxed as ordinary income, but the specific tax treatment depends on whether the annuity was qualified (funded with pre-tax dollars) or non-qualified (funded with after-tax dollars). For qualified annuities, the entire amount is taxable. For non-qualified annuities, only the earnings portion is taxable.
As you plan for retirement, selecting the right annuity type — whether a qualified vs non-qualified annuity — can shape your financial security in significant ways. When you understand the implications of each type, you can optimize tax advantages and income benefits.
In this article, we’ll talk about a qualified vs non-qualified annuity. This can help you make informed decisions that align with your retirement goals and financial objectives.
Have you ever heard of a market value adjusted annuity? If you are planning for your retirement income, then you may be considering an annuity as one of your options. Of course, there is a number of possibilities when it comes to purchasing annuities. So, it is important to understand clearly what annuities are so you can make sound financial decisions.
In cases when you are looking for tax deferral and an instrument which can offer safe growth and reliable future income, a fixed annuity can be the perfect option. These typically entail an average contract of seven to twelve years and guarantee a minimum annual interest rate. While the duration of the contract and interest rates are important to consider, you should also take into account whether the annuity is subject to a Market Value Adjustment (MVA). It’s common for an MVA to be attached to fixed annuities, and as you probably noticed, it’s these contracts with an MVA that are called “market value adjusted annuities.”
Before making a decision, it’s important to know what a market value adjusted annuity is. So, let’s get into it. Read More
Retirement income planning already is difficult. But for small business owners, it poses even more challenges. Despite being used to the hustle-and-bustle of day-to-day tasks and operations, even businesspersons have to slow down at some point.
Eventually entrepreneurs get to an age when they can’t run their companies like they did before. As a company owner, you likely will face this someday. You may have to reduce your involvement, or it may even be time for an exit. If that’s in the cards, you might have to sell your business or let someone else in the family take it over.
In any case, there’s retirement at the end, and moving into retirement means you have to make plans to safeguard your financial future. In practice, this means being able to pay the bills today while saving enough to live off tomorrow (when your business can be no longer a source of personal income for you – or less income).
Retirement income planning, however, is not a linear thing. It entails holistically evaluating your lifestyle alongside your income and making projections for your life after retirement; then putting in place protections to ensure you can enjoy a lifestyle that’s right for you as long as you live.
If you are confused about what you should do to retire happy and comfortably, you are not the only one. Many small business owners – not to mention several Americans in general – are in the same boat as you. Read on for some helpful tips to assist you with enjoying more lifelong retirement income certainty. Read More
Sure, life happens and we make mistakes. We learn and try not to repeat them. But in retirement income planning, the margin for error is smaller. Just one or a few mistakes could derail your goals or even put your retirement on the rocks.
If you are someone who plans to retire within the next 10 years or sooner, now is the perfect time to start putting your financial house in order. However, as you devote attention to daily tasks in the workplace and your household, it can be hard to make your post-work future a priority. But retirement can come sooner than you think, and it’s prudent to start preparations before your time has passed.
So, meet with your financial professional to discuss your goals, review the status of your retirement assets, and evaluate your financial picture. And as you near your retirement, it’s important to refrain from critical income planning mistakes. From bad saving and spending habits to easy-to-overlook risks and planning pitfalls, here are six critical retirement income planning mistakes you should avoid. Read More
Are you looking for help on how to retire safely and comfortably? “Safe Money Advisors,” or financial professionals offering safe strategies, can provide solutions to help you reduce risk and manage uncertainty. But so many are promoting themselves online and elsewhere. Whom can you turn to for the guidance you need?
As you consider different candidates, conduct careful due diligence. Just like doctors and lawyers and their specialties, not all financial professionals specialize in retirement planning. Any advisor you meet should state clearly their focus on retirement issues, and communicate that expertise. As you meet with them, pay attention to the language and concepts they use – do they speak of the need to plan for income, financial protection, risk management, and lifestyle goals?
Here are some other variables to weigh as you evaluate different Safe Money Advisors to help with your financial future. Read More
Start a Conversation About Your Retirement What-Ifs
Start a Conversation About Your Retirement What-Ifs
Already working with someone or thinking about getting help? Ask us about what is on your mind. Learn More
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What Independent Guidance
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Stories from Others
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