In fact, now that you are living on a “fixed income” it is more important than ever to maximize what you’ve saved to be able to do what you want to do.
Before they became our clients, many of them didn’t realize that some of the most important work we do is for people who have already retired. Much of the time, that’s when the most important decisions are made. After all, the money you have now must last for the rest of your life, no matter how long that is, and no matter what the frequently volatile financial markets do. This requires careful planning and may require considering options that are new to you.
You may have worked with someone in financial services prior to retirement to grow your retirement accounts. Work with Third3rd Financial Partners and we will help ensure you have a secure retirement income plan. Schedule a conversation today and we’ll guide you through our process to protect your financial future.
The success of most businesses is tied in to the talent, passion, and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with funding non-qualified plans, supplemental employee retirement plans, split dollar arrangements, and more.
Today’s labor market is competitive, and finding quality employees that have the experience, values, and knowledge necessary for the job can be a challenge. Then, after you’ve put your team together, you still have to figure out how to keep them motivated and happy to be there. Offering benefits that are the right fit for your business can help to reduce employee turnover, which in turn also helps your long-term stability. Even though it’s an added expense, it’s typically much less than what it takes to hire, train, and retain new employees.
Succession planning allows owners to retire from their business within their own time frame, while preparing for the company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business. I can provide financial strategies for succession planning.
Key person life insurance offers a death benefit that helps indemnify an employer for the loss of one of its most important assets—the key person. This can help assure continuity of the business for employees, customers, and creditors, and protects against losses in sales, momentum, and credit. It can also be used to assist with recruiting and developing a replacement for the diseased employee.
A buy-sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to help ensure that the arrangement is properly funded so that there will be money if the event occurs due to the death of an owner.
Deferred compensation is a written agreement between an employer and an employee in which the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed to them at a predetermined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees. I can provide funding strategies for deferred compensation.