Retirement
Retirement Planning
&
Safe Money Products
At Mangram Financial Services, we help our clients understand the value of using "Safe Money Products" to form a solid foundation for their retirement plan. We use the term “Safe Money Products” to refer to low risk, financial products sold by an insurance company, such as cash value life insurance and annuities, that allow for principal protection and growth. As with any financial tool, safe money products have some risk, so you want to be sure you talk to a financial professional to help you understand the risks before purchasing any product.
Life Insurance
Life insurance is a crucial step in planning for your future and the future of your loved ones. It can also be an essential retirement planning tool. Please ask us how.
Learn more about life insurance here
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Annuities
An annuity is an insurance contract sold by insurance companies. Annuity contributions earn interest that can grow tax-deferred in the accumulation phase and can provide income for life in the income payment phase.
Learn more about annuities here
Retirement Resources
Thinking about Retirement? Know your numbers
When planning to retire, you will need to answer the following questions:
How much income do you require in retirement?
What are your retirement income sources?
How much will you receive from each of them (and at what age)?
What are the tax consequences of using each income source? Does this change with age?
What are your health insurance sources?
Know what is/will be covered by Medicare
Know what is/will be covered by your former employer
Contact you former employer's benefits administrator
Pre-Retirement To Do List:
Contact Social Security
Contact your Employer's Pension administrator
Contact your 401K, 403b, IRA, etc. plan administrator(s)
Contact your insurer(s)