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    Discover the many opportunities available to help secure your financial future through the use of insurance products.

    Financial Services

    To develop a financial strategy for your future, it's important for your financial professional to see a complete, 360-degree view of your financial picture, including how your retirement assets are integrated and work with one another. Our financial strategies use insurance products, such as annuities, to help you meet financial goals. We can work in concert with tax professionals or attorneys in your or our network to advise you on specific aspects of your financial strategy.

    At Howard Financial Group, we offer you the following services:
    • Retirement Income Strategies
    • Annuities
    • Life Insurance

    • Asset Protection
    • Tax Minimization Strategies

    In addition, we can refer you to professionals who provide long-term care strategies.

    Your insurance professional is not permitted to offer, and no statement contained herein shall constitute, tax, legal or investment advice. You should consult with a legal or tax professional on any such matters. For guidance on your securities holdings, please consult with a broker-dealer representative or Registered Investment Advisor.

    To schedule a time to discuss your financial future, contact us at mark@howardfinancialgroup.comor call us at 912.429.7271 today!


    Retirement Income Strategies

    Retirement income strategies are not just for the wealthy. As retirement nears, the traditional strategy has been to move growth-seeking products to more conservative, fixed-income products.  According to a recent study, for a married couple age 65 there is now a 50 percent chance that at least one spouse will live to age 94. 1 This means that you may need to plan for your retirement savings to potentially last 25 to 30 years.

    One drawback to a longer life is the greater possibility of outliving your savings — creating all the more reason to develop a retirement income strategy designed to last a longer lifetime. Sixty-one percent of Americans surveyed said they were more afraid of outliving their assets than they were of dying. 2

    A significant loss in the years just prior to and/or just after you retire could negatively impact the level of income you receive over the course of your life.  In fact, if a loss occurs earlier in life, there is also the chance that you may have more time to recover (versus a loss occurring later in retirement).  Why?  Simply because a smaller pool of assets is left to sustain you throughout your retirement years, and your assets may not have as much time to recover.

    We can help you design a guaranteed* retirement income strategy that incorporates insurance and annuity vehicles to create opportunities for long-term growth as well as guarantee* income throughout your retirement.

    1 RD Marketing Group. 2013. “AG Secure Lifetime GUL with Lifestyle Income Solution.” Prepared by Ernst & Young Insurance and Actuarial Advisory Services practice (analysis uses the Annuity 2000 mortality table with Scale G2 mortality improvements).

    2 Insured Retirement Institute. December 2012. “State of the Insured Retirement Industry: 2012 Recap and a 2013 Outlook.

    *Guarantees are backed by the financial strength and claims-paying ability of the issuing company and may be subject to restrictions, limitations or early withdrawal fees. Annuities are not FDIC insured.


    Asset Protection

    Because the market does not provide security, you may want your financial strategies to include some guaranteed* income products. For example, annuities, which are insurance products with guarantees*, can provide a source of supplemental income throughout your retirement.

    Twenty-first century asset protection calls for more than just strategic asset allocation. Including products like annuities in your retirement income strategy can help protect* your money from declines due to market losses.

    Diversifying your retirement assets among a variety of vehicles — both through insurance products and investments, depending on what is appropriate for your situation — may offer you the best chance of meeting your retirement income goals throughout your lifespan.

    * Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company.


    Tax Minimization Strategies

    Rising taxes may be a concern for many individuals approaching retirement. It may be important to incorporate tax planning into your financial decisions.

    Investing in or purchasing a tax-deferred vehicle means your money can compound interest for years, free from income taxes, potentially allowing it to earn interest at a faster rate. Few financial vehicles avoid taxes altogether. Insurance products allow you to defer paying them until retirement — when you may be in a lower tax bracket.

    Please note that withdrawals will reduce the contract value and the value of any protection benefits. Additional withdrawals taken within the contract withdrawal charge schedule will be subject to a withdrawal charge. All withdrawals are subject to ordinary income tax and, if taken prior to age 59½, may be subject to a 10 percent additional federal tax.


    Long-Term Care Strategies

    As the oldest baby boomers begin to wind through their 60s, one of the biggest concerns may not be outliving income, but outliving good health.

    For retirees, home health care can cost $50,000 or more per year1, and nursing home care can run as high as $80,0002 per year. Does your retirement income strategy account for this kind of possibility? Would you be prepared for twice that amount as a married couple?

    Considering that you could have to reduce your financial means before Medicaid will pay for long-term care and neither your employer group nor major medical insurance will cover long-term care, you may want to consider planning ahead for these potential expenses.

    We can help evaluate your situation and determine if purchasing a long-term care insurance policy may be the right move to help you feel confident in your financial future.

    1 GenworthFinancial. March 2015. “Genworth 2015 Cost of Care Survey: Home Care Providers, Adult Day Health Care Facilities, Assisted Living Facilities and Nursing Homes.

    2 MetLife. November 2012. “Market Survey of Long-Term Care Costs.


    Annuities

    In the past, retirees could typically count on three sources of retirement income that divided roughly into thirds. The three sources of income have traditionally been government-funded Social Security, employer-sponsored components and individual savings. With this traditional scenario, both the government and employer-sponsored components of the strategy were considered predictable — reliable income sources that may also be adjusted for inflation, like Social Security benefits. Only one-third of the plan, individual savings, was the responsibility of the individual. Today, however, due to employer-sponsored plans evolving from guaranteed pension payouts to more defined benefit contribution plans, which generally result in a payout in retirement based upon level of individual participation, the majority of the burden for retirement income seems to have shifted to the individual. For this reason, you may want to consider a guaranteed* fixed income component to your retirement strategy. In short, adding an annuity may be an opportunity to help ensure a portion of your retirement income will be guaranteed*.

    An annuity is a contract you purchase from an insurance company. For the premium you pay, you receive certain fixed and/or variable interest crediting options able to compound tax deferred until withdrawn. When you are ready to receive income distributions, this vehicle offers a variety of guaranteed* payout options. Most annuities have provisions that allow you to withdraw a percentage of the value of the contract each year up to a certain limit. However, withdrawals can reduce the value of the death benefit, and excess withdrawals above the restricted limit typically incur “surrender charges” within the first five to 15 years of the contract. Withdrawals will reduce the contract value and the value of any protection benefits, and because they are designed as a long-term retirement income vehicle, annuity withdrawals made before age 59½ are subject to a 10 percent penalty fee, and all withdrawals may be subject to income taxes.

    *Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by carrier. Annuities are not FDIC insured.


    Life Insurance

    Life insurance isn't for those who have died — it's for those who are left behind. When shopping for life insurance, consider needs such as replacing income so your family can maintain its standard of living, as well as paying for your funeral and estate costs. A general rule is that you may want to seek coverage between five and seven times your gross annual income. As far as the various types of policies go, they can generally be placed into one of two categories: Term and Permanent.

    Term insurance generally provides coverage for a specified period of time and pays out a specified amount of coverage to your beneficiary only if you die within that time period. In a level premium term policy, you pay the same amount of premium from the first day of the policy until the term ends. A permanent insurance policy, on the other hand, will stay permanently in effect for the rest of your life so long as premiums continue to be paid.


    Strategies for Financial Independence

    To schedule a time to discuss your financial future, contact us at mark@howardfinancialgroup.com or call us at 912.429.7271 today!

    We are an independent financial services firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives.

    Your insurance professional is not permitted to offer, and no statement contained herein shall constitute tax, legal or investment advice. You should consult with a legal or tax professional on any such matters. For guidance on your securities holdings, please consult with a broker-dealer representative or Registered Investment Advisor.

     

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    *Guarantees provided by insurance products are backed by the claims paying ability of the issuing carrier.

    The Retirement Checklist is provided for informational purposes only. It is not intended to provide tax or legal advice. By requesting this report you may be provided with information regarding the purchase of insurance products in the future.