It wasn’t that long ago that managing your financial lives meant keeping track of dozens – if not hundreds – of documents like trusts, wills, powers of attorney, insurance policies, investments and more. They were squirreled away in drawers, boxes, grocery bags and who knows where else.

But thankfully, Generational Vault – your virtual safety deposit box – is an easier way to keep track of all those vital documents.

Generational Vault’s engine has three dynamic parts:

A secure portal for sharing and storing important documents
Third-party daily investment and banking data
Snapshots of financial assets and expenses, monthly newsletters, market commentaries and meeting alerts
Generational Vault never sleeps; it’s your 24-7-365 team of specialists working around the clock to protect your accounts!

Reach out to us today to discuss how Generational Vault can help you organize and safeguard the most important documents in your life.

Medicare and retirement health strategy.

While there is no shortage of things to prepare for in retirement, it’s critical to also address your health needs and concerns by crafting a comprehensive health care strategy. There are various ways to accomplish this, with Medicare being the most important for many Americans.

Medicare generally provides health insurance for most people age 65 and older, and others who have received Social Security disability benefits for at least 24 months, have end-stage renal disease or have amyotrophic lateral sclerosis (also known as Lou Gehrig’s disease). Medicare is similar to Social Security, since it is a federal program that you have paid into throughout your career. Just like Social Security, you want to maximize this benefit in retirement.

Medicare is split into four parts:

• Part A: Hospital insurance – covers the costs of health care at medical facilities. Offers coverage for medically necessary inpatient care at hospitals, skilled nursing facilities, hospices and some home health services.
• Part B: Medical insurance – covers the costs of health care outside medical facilities. Offers coverage for doctors’ services, hospital outpatient care, mental health and some preventative health care services.
• Part C: Medicare Advantage (MA) plans – policies you can purchase from certain private insurance carriers that provide the same (or more) coverage as Parts A and B.
• Part D: Prescription drug coverage offered through private Medicare-approved insurance companies.

Many people with Part A do not pay a premium because they have already paid enough into the system. As with Social Security, a certain portion from each one of your paychecks is deducted to pay for Medicare. When you’ve had Medicare tax withheld from you or your spouse’s pay for at least 40 calendar quarters, then you may be eligible for free Part A coverage.

The monthly premium associated with Part B is set according to income level, although most people will pay a standard monthly premium amount and a small yearly deductible. Individuals who have an annual income greater than $88,000 and couples who have a joint annual income greater than $176,000 will have an extra charge added to their premium due to their high income level. Parts C and D are provided via private insurance companies so the monthly premiums of these policies depend on the extent of their coverage and can vary between companies.

We are not affiliated with, or endorsed by, the Social Security Administration or any other government agency.

medicare.gov/your-medicare-costs

Make sure you maximize your Social Security benefit.

If you’re like many retirees, your Social Security benefit represents years and years of savings and hard work, and may be the foundation upon which you plan to build and grow your retirement income. Though most Americans have some basic familiarity and knowledge on the topic, far less are able to determine — on their own — the best way to file so they are able to maximize their benefit and carefully integrate it into the rest of their retirement plan.

At Senior Resources of Nevada, Inc., we help our valued clients develop a clear understanding of their Social Security benefit, and both educate and inform them on the optimal time to start accepting their benefit. Delaying your benefit may potentially increase your benefit amount by as much as eight percent per year. 

There is a lot to know about Social Security, and it is important for you to be educated so that you head into retirement with a plan on exactly how you will rely on your benefits. Our firm is committed to helping you get the most you can out of your benefit, so you can take one step closer toward the comfortable and enjoyable retirement you’ve been working so hard for! In order to ensure you are maximizing your Social Security benefit, you should have a firm understanding of this complex matter.

We have put together an informative brochure that helps answer the following questions:

• What is your Social Security benefit amount?
• When is the best time to start accepting your benefit?
• Are there different options if you are married?
• Does earning additional income while you are on Social Security impact the value of your benefit?
• Do you pay tax on your benefit?

 Please contact us to receive your brochure today! 

Visit SSA.gov

Optimize your assets for retirement.

Many Americans entering retirement come to find that the right strategy can be just as important as the actual dollar amount they have saved. You’ve worked hard for years to save for retirement, and now that time is upon you. Perhaps you’re now wondering if all the pieces are in place for you to enjoy a happy and worry-free retirement. Do you have the proper strategy in place to help ensure you have the retirement you’ve always wanted?

Our organization prides itself on providing retirement strategies to Carson City, NV and the surrounding communities. We take an extensive look at each client’s unique mix of assets — this includes everything from your bank accounts, pension, and Social Security benefits, to your estate plans, wills, taxes, insurance policies and more. Our services and strategic partnerships allow us to integrate all aspects of our clients’ wealth into a coordinated effort. Our end goal is to create financial clarity for you and your loved ones, and to promote multi-generational wealth.

We offer:

• Insurance planning
• Beneficiary review
• Retirement strategies
• Financial needs analysis
• Analysis of present and future expenses
• Estate preservation
• Income planning

When you work with us, we organize all of your financial, estate and tax preparation materials into a customized binder. Crafting your comprehensive retirement strategy is a coordinated effort on our part, and is done so using an all-inclusive view. Although many financial services professionals focus on specific products, our experience has proven that our clients’ needs are best fulfilled focusing on processes, and most importantly, people. Making a recommendation on a retirement strategy is not a one-size-fits-all proposal. When you speak with Senior Resources of Nevada, Inc., we provide you a framework that aims to satisfy your retirement income budgeting needs to go along with a risk tolerance that satisfies your growth expectations. A retirement strategy simply isn’t something you do once, but something that may be ever-evolving throughout your retirement, and knowing who to turn to for advice can make a world of difference.

Life insurance offers multi-faceted retirement solutions.

Although some people view life insurance as a way to replace lost income or pay off debt after the passing of a loved one, it also can offer a number of potential benefits that may make it a valuable tool to accomplish different financial goals in retirement.

First and foremost, life insurance may provide peace of mind and a degree of comfort for the policyholder (the insured) that their loved ones (the beneficiaries) are taken care of financially in the event that they pass away. In addition, life insurance can be a sensible solution for many small business owners to help protect the financial future of their business if something should happen to them. Life insurance is also one of a few types of products that may offer helpful ways to reduce or avoid certain taxes.

In addition to a death benefit, however, life insurance is also one of a few types of products that may offer helpful ways to reduce or avoid certain taxes. Some of these benefits may include:

Death benefits:

• Policy death benefits paid to beneficiaries may be income tax-free.
• Some life insurance policies may allow the death benefit to be accelerated out before the insured’s death due to terminal or chronic illness, and that benefit may be income-tax free.

Tax-free exchanges:

• The insured may exchange their existing life insurance policy for a new life insurance policy and the investment gains on the original contract may be tax free.
• The insured may exchange their existing life insurance policy for an annuity and the investment gains on the original contract may be tax free.

Policy cash values:

• Cash values may grow tax-deferred during the insured’s lifetime.
• Income from cash value, when properly structured, may not be subject to income taxes.

As an independent insurance firm, we are able to shop dozens of insurance carriers to find rates and product solutions to fit your specific needs and goals, meaning we are not relegated to simply one line of products or one brand name like a captive agent. In addition, we offer complimentary reviews on your existing life insurance contracts.

Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Policy loans and withdrawals will reduce available cash values and death benefits, and may cause the policy to lapse or affect any guarantees against lapse. Additional premium payments may be required to keep the policy in force. In the event of a lapse, outstanding policy loans in excess of unrecovered cost basis will be subject to ordinary income tax. Withdrawals are generally income tax-fee, unless the withdrawal amount exceeds the amount of premium paid. Policy loans are not usually subject to income tax unless the policy is classified as a modified endowment contract (MEC) under IRC Section 7702A. However, withdrawals or partial surrenders from a non-MEC policy are subject to income tax to the extent that the amount distributed exceeds the owner’s cost basis in the policy. Tax laws are subject to change. Clients should consult their tax professional. Keep in mind that most life insurance policies require health underwriting and, in some cases, financial underwriting.

It wasn’t so long ago that retirement meant a pension and a gold watch, but today’s world looks much different than it did for past generations. With increased market volatility and historically low interest rates, generating retirement income has become more complex. Additionally, with the loss of pensions and the rising cost of health care, the burden of retirement falls heavier on the shoulders of individual Americans than it ever has before. But you don’t have to carry it alone.

The New Generation Retirement® system is a holistic approach to retirement planning. It consists of five steps that incorporate three hallmarks of our company: fiduciary, transparency and technology. Through this planning process, you’ll be confident that we’ve given careful consideration to asset allocation and risk, income planning, asset maximization, legacy planning and tax strategies.

The Five Steps
1. Selecting a Financial Services Professional
Step One explains my role as a financial services professional and introduces The New Generation Retirement system.

2. Fact and Feeling Finding
Step Two encompasses detailed questions about your financial well-being. This begins with the Color of Money Risk Analysis and incorporates the elements of discovery and client feedback to approach your specific situation.

3. Strategy
Step Three incorporates three hallmarks of our company: fiduciary, transparency and technology.

4. Recommendations and Implementation
Step Four uses technology to determine if there are parts of your strategy that include creating new accounts or purchasing new financial products. We utilize forward-thinking technology such as electronically-generated and pre-populated forms with e-signature capabilities to make this process as easy as possible.

5. Ongoing Relationship
Step Five addresses your long-term success and incorporates adjustments as you deal with potential life changes or desired modifications. Helping you thrive in a new generation of retirement goes beyond any initial recommendation and is based on our ongoing commitment to your retirement goals and objectives. Why choose %%COMPANY NAME%% ? The New Generation Retirement System is based on three hallmarks of our company: fiduciary, transparency and technology.

• Fiduciary
Providing you with a fiduciary level of service means we are legally bound to always do the right thing for you and your family by only offering strategies that serve your best interest. Our commitment to you as a fiduciary is also an assurance to act with transparency throughout our relationship.

• Transparency
Our commitment to transparency ensures that each step of our work together is recorded and that every document and report is easily accessible to you. This is visible through a strong foundation of technology.

• Technology
The right technology can make managing and organizing your retirement an easier process. When you partner with our company, you receive access to Generational Vault – a secure online portal that allows you to easily organize, manage and access your financial life. Generational Vault serves as the vehicle to document and record our commitment to act as a fiduciary and be transparent throughout our relationship.

Insurance solutions to help meet a variety of goals.

Some retirees are concerned with the impact a market loss may have on the future of their income and assets. Others are looking for a reliable income stream. Still others actually underestimate the impact of a market loss.

For that reason, we offer a number of insurance solutions that can be used to protect more than just your physical assets. They can also be used to help protect your future. Whether they’re right for you depends on your unique retirement goals. Our firm helps individuals protect their retirement assets while still achieving growth by offering a variety of insurance products as part of a retirement strategy.

With the right strategy, you can potentially earn money with your money through the use of fixed annuities* and life insurance. Our firm can help you create a dependable and sustainable source of retirement income to be used now, in the future or whenever you need it most.

We offer the following services or can refer you to a trusted financial services professional who does:

• Fixed and Fixed Indexed Annuities
• Life Insurance
• Long-Term Care
• Health Insurance
• Medicare Supplements

Contact us to explore if one of our insurance solutions could fit within your retirement strategy.

*Annuities are designed to be long-term insurance products. Early withdrawals may impact annuity cash values and death benefits. Taxes are payable upon withdrawal of funds. An additional 10% IRS penalty may apply to withdrawals prior to age 59 ½. Income benefit riders may be offered either built-in or for an additional cost.  Annuities are not guaranteed by FDIC or any other governmental agency. Keep in mind that most life insurance policies require health underwriting and, in some cases, financial underwriting.  Guarantees are based on the claims paying ability of the issuing insurance company. Fixed Indexed Annuities are insurance products and not considered a security or investment. Some restrictions may apply. We are not endorsed by, or affiliated with, the Social Security Administration or any other government agency.  Call for specific details and availability.

Mary Ware, her husband and two children reside in Carson City, Nevada. In her 26 years of experience, Mary has enjoyed helping Nevadans protect their retirement money, and continues to serve her clients in New Mexico and Texas. Mary is assisted by her daughter, Lauren Ware, who is learning the business and all it has to offer the clients Mary serves. Over the course of 26 years Mary has helped people protect millions of dollars in retirement assets and not one of those people has ever lost a dime from market downturns.

There is something amazing about the ability to help people have peace of mind about their finances. Mary is able to have her own peace of mind knowing her client’s finances are safe. It is Mary’s desire to give you that safety and peace of mind.