TitleHow Do You Feel About Retirement?

This may seem like a funny question, but too few people ever actually think about retirement. What do you want it to be like? The standard image seems to be an old couple sitting in rocking chairs on the front porch. This does not have to be you! Instead, you can have adventures, buy the boat you always wanted, travel the world, or spend time in an RV visiting your grand kids. Whatever makes you happy is what retirement should be all about.

At Gulf Coast Educators Insurance, we know that planning for retirement needs to begin with establishing lifestyle goals. It is important to decide how you feel about retirement in general, when you want to actually retire, and what you want to do when you get there. This requires some soul searching, but it is worth it to ensure that you actually enjoy being retired, instead of wishing you were back at work or doing something else.

Once you know what you want retirement to be like and when you want to stop working, we can help you create a financial plan for what it will take to get you there. Retirement costs money, and that money can come from multiple sources. As an educator or someone working for the school district, you likely have a better than average pension. You will also be entitled to some Social Security benefits. This is the good news. However, that is often not enough to retire the way you want to. If you would rather spend Christmas in Switzerland than at home or would like to spend your days fishing in the open ocean, you will need more money than the typical porch-dweller. Fortunately, we can help you get it by helping you plan ahead.
There are several tools that can help you save for retirement. These include annuities and IRAs. When investing in an IRA, one of the things we will help you decide is whether you want to pay taxes on that money today or if you want to pay taxes when you draw the funds. The answer to this really depends on your current financial situation and whether you need tax deductions now. If you can afford to pay taxes on the money today, that can often be a better way to go, simply because you can then grow your investments as much as you want and never have to pay for those gains. Once you reach retirement age, you can draw from your IRA as needed.

Annuities are also beneficial for retirement, and they can provide you with cash flow on a monthly basis. With a fixed annuity, you are guaranteed a set rate of return and can withdraw up to 10 percent of your annuity on an annual basis. Many people prefer this method because there is no risk involved. However, if you would prefer an annuity that is tied to the stock market, we can offer you an indexed annuity.

These are all options we can discuss with you when meeting to plan for your future retirement.

New Years Resolution

Have You Set Your New Year’s Resolutions Yet?

Happy New Year from the team at Gulf Coast Educators Insurance! We hope that you had a fabulous holiday season with friends and family. With the most wonderful time of the year in the rearview mirror, it is time to get excited about new possibilities. That is what the new year is all about: the opportunity to have more fun, accomplish what you have always wanted to, and achieve some of your goals. We are excited to help you do exactly that. While making your new year’s resolutions, here are a few things you should consider including:

Retirement Planning

The sooner you begin planning for retirement, the longer your money will have time to grow and the more comfortable you will be. Planning for retirement may seem daunting, and you may even feel like you do not have enough money to do it. In reality, most people can afford to start saving if they start small. We can show you how to do so, and even if that only means an extra $75 a month, your money will begin working for you. We can also review your current retirement plan, including your 403(b) Investment Plan to ensure that it is working for you to the maximum capacity.

When making your new year’s resolutions, you should always include your financial future because of how easily you can impact it with your decisions today. Failing to act is the worst thing you could do, since even small contributions toward retirement can add up to a great deal of money later on.

Protecting Your Family

Insurance allows you to protect your family financially from the disasters you could never anticipate or plan for. There is no way to tell if you will get into a car accident, but if you do, we can make sure you are covered fully. That way, your medical bills will be paid and your property restored. There is no way to tell if your home will be hit by a storm and flooded. Still, we can provide you with flood insurance that will repair your home, replace your belongings, and even pay for you to stay somewhere else temporarily. The types of coverage we offer is vast, so whether you own a home, car, truck, motorcycle, boat, or RV, we can make sure you have the right insurance coverage in place to provide for any necessary repairs or replacement.

Another way to protect your family is to buy a life insurance plan. One of your goals should be to ensure that your spouse and children could keep their lifestyle if you were no longer there to bring home a paycheck. Life insurance can do this for you. It can be there financially when you are no longer able to be.

Make 2016 an Amazing Year!

At Gulf Coast Educators Insurance, we hope you go out and accomplish all your goals this year. Simultaneously, our goal is to make sure you are protected in the process. Call us today to have your insurance policies reviewed or to discuss your retirement goals.

prop7335 October 16, 2015 No Comments

Baby Boomers and Retirement

Baby Boomers – Are you ready for retirement?

Baby boomers, those born between 1946 and 1964, are facing retirement. If you are a baby boomer, the big question, is will you be ready? Gulf Coast Educators Insurance has experienced and knowledgeable financial services agents on staff that can guide a baby boomer through the various retirement planning options.

It is never too late to start planning for retirement. Many baby boomers are working past retirement age in the hopes of adding more income to their savings plan. Other baby boomers have no savings and are relying on social security or pension plans. While other boomers want to save but are confused by the myriad of options available to them.

Currently, baby boomers are re-shaping the way to plan for retirement. Baby boomers are living longer and need more money to live on. Pensions are being replaced or eliminated altogether. Baby boomers need to manage their nest eggs now and throughout their retirement. Gulf Coast Educators Insurance offers financial services to help with retirement and savings. There are various financial saving options available such as:

• Annuities
• IRA’s
• 403 (b) Plans
• 457 (b) Plans
• Simple IRA’s
• SEP IRA’s

The financial service agents at Gulf Coast Educators Insurance are available to discuss all of these options. Each option has different saving options and benefits. Any of our agents at our three southwest Florida locations can help explain these options. To contact an agent at our Naples office, please call 239-591-0963. To speak with an agent at our Port Charlotte office, please call 941-391-5423. For an agent at the Fort Myers location, please call 239-997-0420.

Gulf Coast Educators Insurance wants to make sure that you have the necessary knowledge and planning for a healthy retirement plan. Please call one of our agents today to get started saving!

Florida Retirement Plans

What’s Your Investment Plan Preference?

A 402(b) or a 457(b) Retirement Plan?

Gulf Coast Educators Insurance offers many financial products to help educators invest in their future retirement. We have experienced and knowledgeable insurance agents available to explain all of the ins and outs of each of the different types of financial services that we offer. A sample of the investment plans available for educators include the 403b investment plan and the 457(b) investment plan.

The 403b investment plan is a retirement plan for public school employees, tax-exempt organizations, and ministers. There are different types of 403b plans available. They include:

•An annuity contract provided by the insurance company
•A custodial account
•A retirement account income

An employee’s payment to the plan are made before income tax is paid. The money is taxed as income when it is withdrawn from the plan. Another benefit from this plan is tax deferred earnings on plan contributions and the ability to take loans from a 403b account. To see if a 403b investment plan might be right for you, please contact one of our three Southwest, FL locations: Naples, Port Charlotte, or Fort Myers. To reach the Naples office, please call 239-591-0963. To speak with an agent at the Port Charlotte office, please call 941-391-5423and for our Fort Myers office, call 239-997-0420.

With a 457(b) plan, you select a portion of your income to be put into a tax-deferred savings plan. This plan has a pre-set selection of investment choices but you decide where you want to invest your contribution based on the options provided. There are advantages to this investment plan such as:
•Your contributions and earnings are tax deferred
•Your money has the opportunity to grow because of time and compounding
•You can make an emergency withdrawal as long as you meet the criteria
•Your account is protected by law from anyone taking control of your assets including your employer provided you have certain exemptions
•You may be able to take a tax credit for elective deferrals

Gulf Coast Educators Insurance has retirement planning specialists available to answer any questions you may have about the array of financial products that we offer. Please call any of our three offices at the above numbers to schedule an appointment to discuss your investment plan options. We look forward to helping you get on the path to securing your financial future. Please call us today!