Retirement Income Planning

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Retirement Income Planning

Planning for your retirement is not an easy task on your own.  There are a number of types of investments available and understanding the differences between them can become confusing and frustrating.  One thing that sets us apart from most insurance agencies is our ability to understand your retirement income goals, design a retirement income plan with your goals in mind and monitor your retirement income plan throughout the years prior to and during your retirement.

Like our insurance agents, our investment agents are independent agents, which means they are not limited to the companies they can use when placing your money in a specific fund.  There are four main types of retirement investments we focus on with our clients.  They are Individual IRA’s, Roth IRA’s, Permanent Life Insurance and Annuities. 

Individual IRA’s are mainly used when a person’s place of employment changes and the money in a company offered 401K needs to move into an individual IRA.  The same tax laws apply to both types of plans, but individual IRA’s allow the owner to invest in a number of types of holdings.

 A Roth IRA is basically the opposite of an Individual IRA.  Contributions to an individual IRA are done pre-tax and withdrawals are taxed where contributions to a Roth IRA are taxed when added to the IRA and tax free when withdrawn from the account.  Another feature of a Roth IRA is if you decide to give it to your heirs, their withdrawals will be income tax free as well.

Owning a permanent life insurance policy is a great way to create a savings account for yourself while you are alive and provide a death benefit for your loved ones upon your passing.  The two types of permanent life insurance are whole life and universal life.  They are similar in what they offer but differ in their structures.

An annuity is an investment used to provide set payment amounts to the owner upon retirement.  The owner purchases an annuity either through monthly premiums or in one lump sum.  This type of investment gives the owner peace of mind there will be a steady stream of income upon retirement.

Our agents look forward to reviewing these retirement options in more detail and assisting you in designing your retirement plan.  Call us at (248) 546-9400 or complete our Contact form to get started today.

Jensen Insurance Agency



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