Income Maximization Planning
At Conry Financial Services, we combine our 53 years of professional experience with a keen understanding of our client’s goals and objectives and take pride in developing unique, safe, time-tested strategies to help seniors meet their financial goals. Income Maximization Planning is only one of the strategies used in our planning process.
Income Maximization Planning
Certain assets currently used for income, and to support your lifestyle, are often depleted during the course of your lifetime. Any intention to leave money to a surviving spouse, children and/or grandchildren, may also be subject to income taxes, as well as other taxes, at your death. In the absence of proper planning, your loved ones may not benefit form the assets you worked a lifetime to acquire.
Income Maximization Planning is a strategy that may enable you to leverage certain assets to serve as “double duty dollars”. Eligible assets may be positioned in such a way that they provide you with additional income, and when you pass, the full value of that asset will go to your spouse, children and/or grandchildren, income-tax free. Income Maximization Planning is typically indicated where current sources of income have been devalued due to market fluctuations, or have not kept pace with inflation, yet there is still a need to pass money to your loved ones. Such assets may include;
- Annuities
- IRA’s
- CD’s
- Savings Accounts
When insurance products serve to enhance our planning strategies, those typically used in the Income Maximization Planning process often include, but are not limited to;
- Life Insurance
- Annuities
- Long Term Care Insurance
- Life Settlements