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Retirement Planning Services


At Leonard Financial Group, we help our neighbors manage their wealth through a variety of investment and insurance services.  

Explore this page to learn about how we can help you!


Retirement Savings (retirement income strategies)

Retiring well isn’t just for the wealthy.


With fiduciary financial planning, we can help you set your financial future up for success.

Times are changing, and so are life expectancies. A recent study shows that for a married couple age 65, there is now a 50 percent chance that at least one spouse will live to age 94. 

This means that you may need to plan for your retirement savings to potentially last 25 to 30 years.

A longer life means the greater possibility of outliving your savings. For most Americans, developing a retirement income strategy designed to last for a longer lifetime is an urgent need.

In fact, when surveyed, sixty-one percent of Americans said they were more afraid of outliving their assets than they were of dying.

Choosing fiduciary financial planning as early as possible means giving yourself a better plan for retirement.

A significant loss in the years just prior to and/or just after you retire will 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).

With proper planning time, your investment portfolio can recover from most losses.

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 guaranteed* income throughout your retirement.

At Leonard Financial Group, we never make two retirement plans alike.
Call us today to discuss your best options for retirement.

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Income Planning

The secret ingredient of wealth accumulation? Time.


The longer you invest, the more potential your money has to compound interest. Similarly, getting started sooner means your investments may recover more effectively from losses.

If your portfolio has not fully recovered from losses in recent years, you may wish to consider a more aggressive allocation to make up for lost ground and get back on track to accumulating wealth.

With fluctuations in the stock market, it’s important to remember that more conservative retirement strategies typically have only a portion of the assets invested in the stock market. Allocations can be set aside for more conservative investments and/or secured* income contracts such as annuities. Annuities are long-term vehicles designed to generate supplemental income during retirement. They have minimum guarantees backed by the strength and claims-paying ability of the issuing insurance company. After all, the last thing you want to do is lose more ground during the next market correction.

* Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing carrier.

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Investment and Tax Planning



As you approach retirement, rising taxes may be a concern. It’s 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.
Insurance products only allow you to defer paying them until retirement — when you may be in a lower tax bracket.
While few financial vehicles avoid taxes altogether, we’ll still help you find the most practical option for your situation.

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.

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Estate Planning



Estate planning is simply determining (while you’re still alive) where your assets should go after you die. Without a properly structured estate plan, your wishes may not be fulfilled, and your loved ones may suffer unintended consequences.

While the concept is simple, the financial products, planning, and implementation process can be complex. Due to estate tax laws and modern vehicles to help protect and transfer your assets effectively, it’s important to work with experienced estate planning professionals who stay current in this field and advise clients on a day-to-day basis.

We can refer you to professionals to help meet your individual needs.

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Other Financial Services

We also offer the following financial services:

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.

IRA Asset Planning

IRA accounts have become one of the largest types of assets inherited by beneficiaries. If you don’t anticipate needing your IRA money in retirement, you may wish to consider a legacy planning strategy that potentially reduces taxes and potentially increases the payout your beneficiaries will receive upon your death.

You may want to use some of the value in your IRA to provide your beneficiaries a regular stream of income while leaving the balance of IRA assets invested for tax-deferred growth. The result may yield substantially more money paid out over the course of your beneficiaries’ lifetimes. We can help you evaluate your financial situation to determine if IRA legacy planning could help you meet your goal of structuring a long-lasting inheritance for your beneficiaries.

Trusts
Annuities

Today, 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 will reduce the contract value and the value of any protected benefits. Excess withdrawals above the restricted limit typically incur “surrender charges” within the first five to 15 years of the contract. 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.

Probate
IRA & 401(k) Rollovers

When you change jobs or retire, there are four things you can generally do with the assets in any employer-sponsored retirement plan:

  • Leave the money where it is
  • Take the cash (and pay income taxes and perhaps a 10 percent additional federal tax if you are younger than age 59½)
  • Transfer the money to another employer plan (if the new plan allows)
  • Roll the money over into an IRA
  • Rolling over from one qualified plan to another qualified plan allows your money to continue growing tax-deferred until you receive distributions in retirement. We can help you determine if a rollover is the right move for you.

If you decide to cash out of an IRA, we can help you find suitable vehicles to help you reach your retirement income goals.

Charitable Giving

Creating a charitable gift-giving plan may provide you with multiple tax breaks: an income tax deduction, the avoidance of capital gains on highly appreciated assets and the reduction or elimination of estate taxes on the charitable contribution upon your death.

With changes in the tax environment, there may be compelling reasons to integrate philanthropy into your financial and estate planning.

We can refer you to a qualified professional to help you decide if this is a good option for you.

Strategies for Financial Independence

To schedule a time to discuss your financial future, contact us at contact@leonardfinancialgroup.com or call us at 321-259-6239 today!

By contacting us, you may be offered information regarding the purchase of insurance and investment products.

Your investment advisor is not permitted to offer, and no statement contained herein shall constitute tax or legal advice. You should consult a legal or tax professional on any such matters.


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1 http://www.rdmarketinggroup.com/Files/AG%20Secure%20Lifetime%20GUL%20and%20LIS%20Client%20Guide.pdf Prepared by Ernst & Young Insurance and Actuarial Advisory Services practice. The analysis uses the Annuity 2000 mortality table with Scale G2 mortality improvements.
2 State of the Insured Retirement Industry: 2012 Recap and a 2013 Outlook, Insured Retirement Institute
* 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.

Strategies for Financial Independence
To schedule a time to discuss your financial future, contact us at contact@leonardfinancialgroup.com or call us at 321-259-6239 today!

By contacting us, you may be offered information regarding the purchase of insurance and investment products.
Your investment advisor is not permitted to offer, and no statement contained herein shall constitute tax or legal advice. You should consult a legal or tax professional on any such matters.

Schedule a meeting