NEWS FROM SUMMERLIN BENEFITS CONSULTING

Life insurance isn't just about providing financial security for your loved ones; it can also be a strategic tool for building wealth and planning for the future. One option that stands out, especially for younger adults, is Fixed Indexed Universal Life (FIUL) Insurance. But what makes FIUL a compelling choice for those in their thirties and forties? Let’s explore!

Have you ever received a 100-page financial plan from your advisor only to find out that less than 10 of those pages were useful? Typically, only a few pages of a financial plan will focus on strategy and investment choices; the rest usually cover fee breakdowns, risk and return explanations, and regulatory compliance disclosures. This may seem overwhelming when only a fraction of the pages are actually helpful! You’re not the only one that may be thinking, “Is this standard or should I consider finding a new advisor?”

When you think of "retirement planning", you probably don’t associate this topic with someone in their twenties. But saving for retirement is becoming more and more important to the younger generations for many reasons.

The Tax Cuts and Jobs Act of 2017 (TCJA) made many changes to U.S. tax law. However, some of those changes included sunset provisions that will cause them to expire at the stroke of midnight on January 1, 2026, unless Congress acts to extend them. For today’s retirees, these changes will have significant impact. The three key components of the TCJA that will impact retirees in 2026 are going to be the changes pertaining to income-tax, estate taxes, and gift taxing.

Those who feel underprepared for retirement will need to be extra strategic when navigating their retirement income plan. Obviously the primary goal is to have enough income in retirement so as not to outlive your means, however one should also anticipate and account for potential risks when developing or tweaking their plan.

This year, we will experience record-breaking levels of Americans entering retirement. In fact, nearly 11,000 people per day are expected to turn 65 this year. Experts have begun calling this wave of retirement the “silver tsunami”, or “peak 65”.

We are well into the new year and resolutions are in full swing. Maybe this year it’s not about eating better or getting more exercise, but instead about your financial health, which can have a profound impact on living comfortably down the road. Even if you are several years off from retiring, there’s no time like the present to take a deep dive into your retirement plan to make sure you feel confident about your future.

As a grandparent, you hold a special place in the family structure. Your wisdom, experience, and unconditional love have a profound impact on the lives of your children and grandchildren. “And how does this relate to retirement planning?”, you may ask. Well, being an involved grandparent requires time, attention, and for some- travel and financial means.

There is no “one size fits all” answer to how much is enough when it comes to retirement. That is why retirement planning is often thought of as a complicated and taxing topic. But it doesn’t have to be. At Summerlin Benefits Consulting, we believe in making things simple for our clients. Below, we will outline some of the basic steps one should take when determining how much they will need to have in their retirement nest egg to live comfortably when they retire.