Planning for your Financial Freedom at Retirement

Retirement takes planning, but it doesn't have to be complicated. Got Annuities LLC firmly believes that a successful financial plan doesn't have to require tremendous investment management skills on the part of the planner. We at Got Annuities LLC recommend finding a Certified Public Accountant (CPA) and a qualified financial consultant to strategize with from time to time and follow these simple guidelines.

1. Always contribute the maximum, every year, to your retirement fund, it could be a 401(k), 403(b), IRA, or Keogh. These accounts are pre-tax contributions and they compound tax-free until withdrawal. Take full advantage of any matching funds from your employer (it's free money). Also, fully fund a Roth IRA each year - if you qualify. The Roth IRA is "tax-free" compared to "tax-deferred" and will be a great addition to your income at retirement.
   
   
2. Have your bank set up an automatic 15% deduction from every pay check to be directly deposited into a variety of long term growth investment accounts. This may sound like a lot, but once you have it set up you'll hardly miss it - after all, you pay your creditors every month, shouldn't you pay yourself? We refer to this as "committed savings" (just like paying your taxes every pay check), but this time it is for you and will guarantee you will be saving money every month without any effort.
   
   
3. Invest your "committed savings" every month based on your personal financial goals and risk profile. Your individual retirement situation is unique and should be considered carefully when selecting mutual funds or other investment vehicles. Unsure of how to allocate your investment dollars? A qualified financial planner or an expert with Got Annuities LLC can help you determine the appropriate mixture of funds for your particular situation. Call our experts at 1-888-535-4131.
   
   
4. Provide your family with life insurance to protect your hard earned assets and their financial future in the event of an unfortunate accident. Determine the appropriate amount and type of life insurance plan that best suits your estate planning needs. You should have enough life insurance to pay off your debts, cover future lump sum expenses (i.e. funeral expenses), dependent college education, and to provide sufficient cash flow to support your family's needs without you. Use a conservative 8% rate of return when determining cash flows from a life insurance policy and don't forget to factor in inflation.
   

Click here for a calculator to help you determine your Life Insurance needs, click here for a Life Expectancy calculator, or contact a qualified financial planner at Got Annuities LLC, 1-888-535-4131.

In Summary - If you follow these simple guidelines:

a. fund all your retirement accounts to the maximum

b. contribute the maximum amount allowed to a Roth IRA (if you qualify) or a regular IRA account.

c. be sure you have created a "committed savings" plan of 15% of your net income to be invested in the appropriate investment vehicles

then you will be in a position to accumulate significant wealth that will compound over the long term, setting you well on your way to a financially independent retirement.