Preserve Retirement Assets

Preserve your retirement assets with a coordinated strategy.
There are a number of strategies that may allow you to increase the funds available to you in retirement, further improve your monthly cash flow by reducing costs, and protect your assets from frivolous litigation and catastrophic illness. You can even ensure grandchildren will have the funds they’ll need for college while reducing your taxes, and get the appropriate tax deductions for certain current health care needs such as prescriptions, eye care, etc.

Preserve your retirement assets in this increasingly litigious society.
These days, we have found many retirees want to stay busy during their retirement years. Sometimes, it’s just about staying vital, other times it’s to provide a little supplemental income for the extra vacation or gifts for the grandchildren. You decide to capitalize on your years of professional experience – maybe some part-time consulting or a shift to the private sector, etc.

All goes well, and then it happens. Through no fault of your own, you find yourself in the middle of a frivolous lawsuit instigated by a litigious lawyer. Did you know your income from IRA and city deferred comp plans may be at risk? Without the proper insurance and trust protections in place, a lot of your and your family’s income from wages, pensions, and retirement accounts may be attachable in a settlement. Even with automobile and homeowner insurance, there are limits and deductibles on most policies, and you may be liable to cover part or all of the legal costs to defend yourself, depending upon the actual provisions contained within your policy. Fortunately, there are some relatively painless solutions. 

A personal umbrella policy that contains special liability limits and takes the size of your investable assets into consideration might be an inexpensive solution. Coordinate the umbrella policy coverage with the liability coverage in your auto and home insurance policy. To determine if an umbrella policy is appropriate for you, complete a cost benefit analysis of increasing the coverage on existing policies versus adding an umbrella policy. You may also consider a higher deductible on all your coverage for some premium savings.

Lineweaver Financial Group is independently owned and operated. Securities offered through Triad Advisors, LLC, Member FINRA / SIPC Advisory services offered through Lineweaver Wealth Advisors, LLC. Lineweaver Wealth Advisors, LLC, is not affiliated with Triad Advisors, LLC.


*: Article: 64% of Americans Aren’t Prepared for Retirement – and 48% Don’t Care.

1: Crain's Top 25 RIA: Based on assets under management

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