We believe in helping our clients live well by providing personal service and conscientious asset management. We also believe in doing business face-to-face, one-on-one. That’s why Puritan Advisors* make house calls. Something as important as your financial assets deserves personal attention. After all, we have to understand who you are and what you care about before we can make reliable suggestions for your financial future. We’re committed to recommending financial products that fit your personal needs and put your best interests first.
Are You Prepared?
You’ve reached a point in life where you’re thinking more about the future. You made some wise financial decisions when you were younger, but you’re wondering if you’ll be able to live the life that you want when you decide to retire or at least slow down a bit. Do you have enough? Where will your income come from when you are no longer working?
Protecting Your Family and Your Nest Egg
Do you have the financial means to handle unforeseen circumstances? Would your family be financially provided for if you weren’t there? Do you have any coverage in place to help cover the rising cost of health care in the later stages of life? Are your assets protected from creditors or judgments? Puritan Life offers solutions for all of these concerns. Talk with your Puritan Advisor* to learn more about our insurance products.
Retirement Income Planning
The ability to maintain a quality standard of living in retirement is the primary concern of most people planning for retirement. You’re probably no different. You want to know if you can still do the things that you love and enjoy life after you’ve stopped working. With proper retirement income planning, you can. Our experienced representatives can help you put together a retirement income plan to meet your needs and give you the comfort and peace of mind that your retirement income isn’t left to chance.
Is your investment portfolio positioned to best manage your risk and help you reach your goals? As your thinking is shifting more toward the future, your investment portfolio should also begin shifting to more secure and conservative investment products. It’s all too common for people to invest in high growth investment products early in life and then find themselves in retirement with the same high risk, high return investment products. Now is the time to revisit your investment portfolio and make sure that your investments match up with your life stage, circumstance and risk tolerance. A Puritan Wealth Management Investment Advisor can help you review your portfolio and suggest appropriate products for your situation and needs.
Puritan Life Can Help
Whether you are concerned about retirement income, insurance, investment management, or college funding – we’re here to help. Your Puritan Advisor* has a wealth of knowledge and can provide you with guidance and advice on which financial solutions are best suited to help you prepare for retirement.
Managing Retirement Income
You’ve worked hard and now you’re enjoying living life on your terms. Your retirement plan should provide a steady stream of income and protect that income so that you can continue to enjoy living the life you’ve worked so hard to attain. Puritan Life can help you manage your retirement, giving you the freedom to continue living the life you want.
Managing retirement income
Ensuring that your retirement income will last all the way through retirement is getting more difficult all the time. Corporate pensions are a thing of the past and overexposure to the volatile financial markets has left many retirees shaky. How are you generating a safe and steady income in retirement? Puritan Life offers a variety of retirement annuities and other insurance products that can help you reduce uncertainty in your retirement income. Proper retirement income planning can give you the peace of mind that your income is secured through your retirement years. Your Puritan representative can help you select the right products to meet your retirement income needs.
Retirement Income Protection
As you age, the risk of an early demise is replaced by the risk of outliving your assets. There are many potential expenses in your retirement years that threaten your retirement income. Medical expenses that aren’t covered by Medicare, extended stays in a long term care facility or home health care expenses can all quickly eat away at the retirement nest egg that you’ve worked so hard to build. Puritan offers insurance solutions such as Single Premium Life Insurance policies and Medicare Supplement Insurance that help provide you with protection against the rising cost of health care for seniors. Talk with your Puritan representative about how to help protect your retirement income today!
Puritan Life is committed to providing for all of your financial needs in retirement.
Leaving a Legacy
A Lasting Legacy Is More Than Just Money
At Puritan Life, we know leaving a legacy is more than balance sheets and tangible items. You have spent your life instilling values and character into your family. You have also spent a lifetime making sure you family is provided for, even in your absence.
Secure Your Family’s Future with Estate Planning
While a lasting and meaningful legacy is more than just money, proper estate planning provides control and privacy for you and your family. Estate planning is the process of preparing your estate for transfer to your heirs. It typically involves some legal and tax planning to ensure that the intent that you have for your estate is actually carried out. If done properly, you can help reduce your estate taxes and leave a financial legacy behind for your heirs to give them opportunities they otherwise wouldn’t have.
Maintaining Your Plan
Setting up an estate plan is the first step to ensuring your financial legacy. However, our lives are constantly changing. A periodic review of your estate plan is essential to ensure that your plan is still relevant to your life. At Puritan Life, we promise to help you understand your options when those changes occur. Contact your Puritan representative today for a plan review to help protect your estate and make sure that an out of date plan doesn’t keep your wishes from being carried out the way that you want.
Transition Your Estate
Proper planning can reduce taxes, avoid probate and minimize privacy concerns. The transition of your estate is a difficult time, but Puritan Life pledges to provide your family the same level of service that it provides for you. Insurance solutions such as annuities and senior life insurance can help provide peace of mind for you and your loved ones when it comes time to discuss final expenses, asset transfer and estate settlement. Don’t fear taxation and probate costs – let Puritan help you transition your estate. With proper planning and assistance from your Puritan representative you can help ensure the protection of your legacy and the smooth transition of your estate.
The Top Five Myths of Retirement Income Planning
As with all other transitions in a person’s life, beginning retirement can be an exciting, yet stressful time. Ideally, leaving the rat race behind is a welcome move for many; although a lack of proper planning or an ironclad investment strategy may make it more difficult than it needs to be. To smoothly transition into the “retirement” phase of your life, you need to be prepared for all that can happen. Do a double take on your retirement planning, and make sure that you haven’t fallen prey to any of the following retirement myths, as they can be hazardous to your retirement health.
Myth 1: Your kids are self sufficient.
Some parents may still have adult children living at home. Some may have already left the nest, and returned due to financial difficulties or emotional problems. If you’ve encountered a similar “failure to launch” scenario, you may find the comforts of retirement seem ever so remote. Even if your children are off to school, or have graduated from college, you never know when they may need your financial help. Make sure that you are covered, and consider these possible expenditures, whether your kids are out on their own or back at home with you.
Myth 2: Your home is paid for.
Many people can’t help but consider a home that’s paid for as the ultimate insurance for retirement. After all, owning your home outright is part of the American dream. Many people find themselves taking out second mortgages or refinancing their homes later in life to pay for college for the kids or to help them get through difficult financial times. With people changing jobs and moving more often during their career, the prospect of staying in one place long enough to pay a home off completely is less likely than it once was. These circumstances leave many people with a mortgage payment in retirement.
Myth 3: You have no credit card or consumer debt.
Frugal living will not always keep you in the clear. As you get older, unforeseen circumstances and expenses can put you in debt if you don’t have enough emergency reserves or proper protection in place to cover you. Healthcare costs are typically the highest expense for aging individuals. Even if you manage to avoid crippling levels of debt, or live within your means by making minimal use of credit cards, there will likely be excess expenses you still need to cover. In addition, you can no longer count on the potential for higher pay (one that comes with a day job or successful business) to keep your assets in the black – you’ve retired, remember? While your job is no longer there, your expenses still are and the prospect of debt in retirement is a real concern for many retirees.
Myth 4: Earn an average of 10-12% return on your investments.
No one can guarantee that the investment markets will continue to produce high returns consistently. The most recent economic calamity is proof that the market gives and the market takes back. Even the best financial analysts and economists cannot consistently predict what will happen in the markets. You may be able to mitigate some of your risk with greater diversification and by moving some money to more conservative instruments, but this typically decreases your returns. When you begin to move your portfolio from growth to preservation, you will earn less on your money and you need to account for that in your planning. Higher income producing investments can generate more of a tax burden that should be considered as well.
Myth 5: Insurance is a poor income planning tool.
Many types of insurance policies may be great tools, especially for people moving into retirement. Guaranteed minimum interest rates for the policy result in a guaranteed minimum return for what you’ve invested. Annuities can provide you with a guaranteed income stream that can help you maintain your lifestyle in retirement or augment your other sources of retirement income. Products such as universal life insurance allow you the flexibility of paying smaller or larger premiums, depending on your financial capabilities. Life insurance is also an excellent wealth transfer tool that can help you efficiently leave a financial legacy behind for your loved ones. When you’re evaluating different insurance products, remember to watch out for non-essential coverage, superfluous deductibles, inadequate limits and unnecessary riders.