Iron Horse Financial

Secure a Steady Stream of
Income After Retirement

For many of us, working is how we secure our money.
Go to work, get paid, spend money, repeat.

This ideology is so ingrained in our culture and in ourselves that we don’t realize it’s there. We do it, we teach our children to do it, and generations before us have done it. And it seems to work for most of us.

But what happens when you want to stop working but still need income?

That’s where retirement income comes into play.

When choosing a retirement income strategy, most of us don’t have adequate knowledge, so we pick whatever is offered.
But ordinary retirement incomes frequently miss the mark. Some retirement incomes fall short of providing all the money you need to survive during retirement years. Others are often heavily taxed. Iron Horse Financial can help you discover a plan to get the most out of your money with the least amount of taxes when you’re ready for that retirement life.
Let us clear up some of the confusion and talk about the standard and overlooked types of retirement income and how we can help set you up with an option that is best for you.

Types of Retirement Income

Social Security

Social Security is a federal government program that you pay into that “provides you with a source of income when you retire or if you can’t work due to a disability.” (USA.gov) Started in the 1930s, social security was never meant to be your sole income after retirement. It was meant to be just enough money to keep you out of the poor house (back when there were actual poor houses). Today, social security is more of a supplement to whatever other retirement income you may have.

Pensions

A pension is mainly paid for by a former employer to a former employee. The employee adds money to the plan while the employee is working for them. Once the employee retires, the employer then distributes that money to the employee in monthly increments. Pensions have almost completely gone away in the United States. A few Unions still offer pensions, but the number of employers offering pensions are on the decline.

Annuities

An annuity is a type of income contract where an insurance company pays you regular payments after you have either paid a lump sum or made regular payments. The amount and frequency of the payments depend on the specific contract. Annuities are tax free while accumulating (when you put money in) but any growth (money earned by the account beyond your investment) is taxable.

401K

A 401K is a retirement savings and investment plan that is offered by many companies to their employees. Part of an employee’s paycheck is put directly into an investment account and matched, either fully or partially by the employer. 401Ks are expensive to the employer, require a massive amount of reporting to the IRS, and the employee will have to pay taxes on the money once it is distributed.

Do Better
with Iron Horse Financial

In helping clients prepare for and coast through retirement for over 20-years, Iron Horse Financial
has discovered the plan that is best for most is a Protected Retirement Plan.

Protected
Retirement Plan

The Protected Retirement Plan (PRP) is a hybrid life insurance and investment strategy that offers both a death benefit and a cash benefit that generates tax free income payments during retirement.
The PRP is based off of an Indexed Universal Life (IUL) policy, which uses investments with the most secure companies in order to provide you a consistent, dependable income at retirement. In addition, the PRP will also protect your legacy with a guaranteed life insurance benefit.
This type of retirenment income strategy is ideal for those who want to make sure their loved ones are taken care of financially if they were to die prematurely, while also ensuring you have predictable income during retirement.

Be Prepared
in the Best Way Possible

Retirement planning can be intimidating. Let the team at Iron Horse Financial and their partners help take the anxiety out of building and utilizing income during retirement. We offer guidance on the above mentioned options as well as additional strategies to create the best retirement income plan for you.
Not only that, we’ll hold your hand each step of the way through all life’s seasons and adapt with you to meet new goals and dreams as life expands.
Don’t put it off any longer, start eagerly anticipating the fun and freedom of your golden years with a solid income at retirement plan set in place.
To get started, click here to schedule a strategy call with Iron Horse Financial now.