5 Things You May Not Know About Your IRA

Josh MellbergWith all the retirement terms surrounding nest eggs, savings accounts and tax deferment, it can be a challenge to know everything about all your financial investments and retirement income planning options. One area of confusion is the individual retirement account, or the IRA.

IRA’s and 401(k)s are both qualified retirement plans. A 401(k) is a plan that some employers make available to their employees. On the other hand, an individual may open an IRA on his or her own. There are two main types of IRAs: traditional and Roth IRA. This article focuses on the traditional IRA, which has different features than a Roth IRA.  IRAs are often used by those who have maxed out their employer contribution plans.  They can be opened in conjunction with other retirement income vehicles, but many individuals confuse their value and purpose. While you might have some basic understanding of your IRA, here are 5 things you may not know:

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1. There Are Contribution Caps
A good way to build up your retirement assets, is to contribute a portion of your earnings throughout your entire working life. This will give you more time to create a nest egg with the potential to last as long as you live. However, there are contribution caps for IRAs. Each year, the IRS creates these IRA limits, which means you may not be able to contribute as much as you want. 

2. Contributions Must Be Cash
When you make annual contributions to your IRA, it must be done in cash. This is true in all cases except for rollover contributions.

3. Losses May Be Tax Deductible
There are several tax advantages to IRAs, such as deferral of taxes on the growth of the account, or its annual earnings. However, upon distribution, you will need to pay any taxes due on the amount you receive from the account. On the other hand, IRA investments that lose value can be potentially tax deductible. They cannot offset the gains and taxes you must pay, but you can deduct losses in certain circumstances.

4. There Are Required Distributions
Once you reach 70 ½ years old, you are required to start taking distributions from your IRA. This is similarly true for other qualified retirement plans, like your 401(k). How much you are required to take out will depend on a specific formula, but you could incur tax penalties if you do not start to take distributions by this age.

5. An Annuity Can Be Used In An IRA
An annuity is an insurance product that can be used for an IRA. However, there are no additional tax deferral benefits than what are inherent in an annuity. In addition, the future benefits of an annuity are based on the financial strength and claims paying ability of the issuing insurance company.  

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Call today and we’ll put you in touch with one of our licensed insurance professionals at J.D. Mellberg to find the best retirement income strategy for your needs. Be more confident you will not outlive your money with lifetime** payments from the right annuity option.

Call us today at 1-877-805-0151


Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC.

This article is not intended to provide legal, tax or investment advice. See a licensed professional in these areas for applicability to your situation.

This article is meant to provide general information on issues that many people consider in making the decision as to whether or not they should buy annuities; and if they do decide to buy, which types of annuities and which annuity benefits and additional riders will best suit their goals and needs. This information is not designed to be a recommendation to buy any specific financial product or service.

By responding to this offer you may be put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/CA0K73712/TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer.

JDM044019

Josh Mellberg
March 20, 2019 @ 5:00 am

Will I Outlive My Retirement Money?

Josh MellbergOne of the most common questions seniors ask themselves when approaching retirement is whether they will outlive their money. After years of working hard and putting money aside for retirement, it seems that financial income planning for seniors should be straightforward. However, it's not an exact science to determine how much one will need in retirement.

Why Seniors Make This Mistake

With the improvements in modern medicine, people are living longer today than ever before. For those entering retirement, this could be a concern in terms of finances, as it is possible to outlive retirement planning. According to the Social Security Administration, a man turning 65 today could expect to live until the age of 84.3. For a woman turning 65, they could live to be 86.7 on average. Of course, these figures are just averages, and it is possible for seniors to live even longer. In fact, one in four seniors turning 65 today will live past 90 and one out of 10 will live past 95.1

Many take their best life expectancy guess to try to determine how much money they may need in retirement, but that estimate could be wrong and leave them in a vulnerable position. While Social Security benefits will last a lifetime, it typically is not enough to live on alone.

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The Annuity Answer

Because no one can predict how much is needed for retirement, more seniors are turning to annuity products to help meet their retirement goals.  An annuity is a contract between you and an insurance company in which you make a lump sum payment or series of payments and in return obtain regular disbursements beginning either immediately or at some point in the future. Many annuities can provide a predictable stream of income once you start receiving payments.  During the first years, usually 5-10 years, a surrender charge may apply if you decide to withdraw some of your funds.  If you decide an annuity is right for you, please see your contract for guarantees*, terms, exclusions and limitations.

When people are young, accumulating funds and the rate of return is the focus in retirement income planning.  However, as people get older, their focus shifts to protecting assets and ensuring a stable income later on. Furthermore, seniors may need to take their money out of the stock market when downfalls occur, thereby reducing their assets.

With the right annuity for their needs, seniors can help ensure they can meet their retirement goals. A steady stream of income is important for retirees to help maintain their lifestyle, and for many, the right annuity can help provide a financial answer.

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Call today and we’ll put you in touch with one of our licensed insurance professionals at J.D. Mellberg to find the best retirement income strategy for your needs. Be more confident you will not outlive your money with lifetime** payments from the right annuity option.

Call us today at 1-877-805-0151


1 Social Security Administration, https://www.ssa.gov/planners/lifeexpectancy.html, last accessed March 07, 2019,

If you are unable to access any article referenced in this report, please call 1-877-805-0151 to request a copy.

*Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC.

Annuity withdrawals are subject to ordinary income taxes, and if taken before age 59-1/2 may incur an additional 10% federal penalty.

This article is meant to provide general information on issues that many people consider in making the decision as to whether or not they should buy annuities; and if they do decide to buy, which types of annuities and which annuity benefits and additional riders will best suit their goals and needs. This information is not designed to be a recommendation to buy any specific financial product or service.

By responding to this offer you may be put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/ CA0K73712/ TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer.

JDM043619

Josh Mellberg
March 18, 2019 @ 5:00 am

Is An Annuity Right For Me?

When it comes to retirement income planning, there are many options that can help provide income later in life. Many employees may take advantage of their employer's 401(k) retirement plan, but you can also increase your financial confidence with an annuity.

 

According to the Investopedia, 10,000 baby boomers retire every day1. That means many are leaving the workforce and relying on their savings and other assets to help fund their life after retirement. While some might also include Social Security as part of their retirement income, it typically is not enough to live on alone. It is therefore important that those approaching retirement make smart choices that will help them for the rest of their lives. 

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What Is An Annuity?

An annuity is a contract between you and an insurance company in which you make a lump sum payment or series of payments and in return obtain regular disbursements beginning either immediately or at some point in the future. Funds accrue on a tax-deferred basis.  Many annuities can provide a predictable stream of income once you start receiving payments.  During the first years, usually 5-10 years, a surrender charge may apply if you decide to withdraw some of your funds.  If you decide an annuity is right for you, please see your contract for guarantees*, terms, exclusions and limitations. For those who already have other pension plans, annuities can be a supplement to help meet your financial goals.

Social Security and pension plans will help provide income to last your entire life, but an annuity can also help provide additional funds to help maintain your lifestyle in retirement.

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Benefits Of An Annuity

One of the advantages of an annuity is more financial confidence in meeting your retirement goals.  Many annuities allow you to choose to receive payments until your death, and this helps ensure you won’t outlive your retirement funds.

Individuals who own these annuities take advantage of any interest earnings that accrue over the years and tend to have more financial confidence knowing there will be a stable income source in retirement. Since the recession, many Americans have felt reluctant to invest their money back into the stock market. As such, fixed, fixed indexed and immediate annuities have become more popular and there are more options than ever before. For many consumers, this is a great time to make an annuity part of their retirement income strategy, helping turn their wealth into a steady income.

Call today and we’ll put you in touch with one of our licensed insurance professionals at J.D. Mellberg to find the best retirement income strategy for your needs. Be more confident you will not outlive your money with lifetime** payments from the right annuity option.

Call us today at 1-877-805-0151


1 Barbara Friedberg, “Are We in a Baby Boomer Retirement Crisis?”, Investopedia, October 22, 2018, https://www.investopedia.com/articles/personal-finance/032216/are-we-baby-boomer-retirement-crisis.asp

If you are unable to access any article referenced in this report, please call 1-877-805-0151 to request a copy.

*Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC.

Annuity withdrawals are subject to ordinary income taxes, and if taken before age 59-1/2 may incur an additional 10% federal penalty.

Joshua Mellberg and J.D. Mellberg Financial are not associated with, nor endorsed by, any government agency, including the Social Security Administration.

This article is meant to provide general information on issues that many people consider in making the decision as to whether or not they should buy annuities; and if they do decide to buy, which types of annuities and which annuity benefits and additional riders will best suit their goals and needs. This information is not designed to be a recommendation to buy any specific financial product or service.

By responding to this offer you may be put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/CA0K73712/TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer.

JDM043519

Josh Mellberg
March 14, 2019 @ 6:08 pm

Could grandmotherhood affect retirement?

In retirement, there are some lifestyle concerns that may not necessarily affect men. Though the financial aspects of retirement are similar for both genders, you may have seen retired women becoming much more involved in the process of raising children than men, especially in recent years.

A report from the National Bureau of Economic Research noted women between 58 and 61 years old who are helping to raise their grandchildren are nearly a third less likely to work full time as those without grandchildren. As a result, during the prime years prior to retirement, some women aren't able to maximize employer-sponsored retirement plan contributions and save enough money to carry themselves into retirement.1

Likewise, this predicament is particularly concerning in relation to times of economic uncertainty. Because recessions are accompanied by high levels of job loss, some grandmothers are having to take a larger role in the upbringing of their grandkids to help out their recently laid-off children.

"Grandmothers typically have years of experience reconciling a work-life balance"



Some women choose to retire early to help out with their families, which means they may have to receive Social Security benefits sooner or withdraw funds from retirement accounts at a younger age – both of which could have a negative impact on the overall financial futures of those grandmothers.

Coming up with a strategy
If women choose to leave the workforce early, they may not be eligible to receive certain benefits, and those who opt to aid in child-rearing may have tougher times confronting the financial realities of retirement. The Social Security Administration indicated women can be expected to live past 86 years of age, which means some grandmothers may have to stretch their retirement incomes over the span of two or three decades, which may be difficult under many circumstances.2

However, women nearing retirement could choose to take on reduced roles in the workforce in favor of helping their families while simultaneously remaining eligible for retirement benefits. Further, grandmothers typically already have years of experience in reconciling a work-life balance and may be better equipped to handle retirement and grandmotherhood accordingly.

The key is to create a retirement strategy that encompasses the factors that could affect one's life, including family and careers. Having the right financial strategy for your unique situation is important when addressing concerns of financial stability in the future.

To help develop a financially sound retirement strategy, consider purchasing an annuity, which can particularly help provide a guaranteed* income you can't outlive.**  Annuities can provide a supplemental income stream for grandmothers who leave the workforce to help raise their grandchildren.

Get in touch with Joshua Mellberg or one of our licensed insurance professionals at J.D. Mellberg to find the best retirement income strategy for your needs. Be more confident you will not outlive your money with lifetime payments **from the right annuity option.

Call us today 1-877-805-0151.
By responding to this offer you may put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/ CA0K73712/ TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer.

*Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC.

**Some annuities may have a lifetime income guarantee as part of the base policy; others may have riders available that provide this benefit. Riders may also be available for benefits like an annual increase to help combat inflation or for as much as doubling your income in case of a qualifying health event. These annuities are not long-term care and are not substitute for such coverage. Optional riders may be available with a charge.

1 Lumsdaine, Robin L. and Vermeer, Stephanie J.C. "Retirement Timing of Women and The Role of Care Responsibilities for Grandchildren," page 19. © National Bureau of Economic Research Working Paper Series, December 2014. http://www.nber.org/papers/w20756.pdf

2 "Calculators: Life Expectancy," Social Security Official Website, last accessed 2/6/2015. http://www.ssa.gov/planners/lifeexpectancy.htm

If you are unable to access the article(s) referenced above, please call 1-877-805-0151 to request a copy.

JDM062018Josh Mellberg
December 20, 2018 @ 5:00 am

Ways to help keep finances in top shape

Many U.S. workers may be just one emergency away from draining their bank accounts. Expensive surgeries, unemployment or unexpected home repairs could force individuals to pay hundreds of thousands of dollars in a short period of time. As a result, long-term financial interests may be at stake every day in which personal finances are not adequate to meet demands.

Not only do workers need to cover their routine expenses, but also the costs associated with the unexpected. And knowing how much to set aside is hard to determine, especially if there is little income left over at the end of each month for saving. However, taking the time to craft a strong practical budget that addresses unplanned events may be the only way to help secure income for retirement.



Here are a few tips to help maintain a good financial budget in the face of emergencies:

“The goal is to cut any financial fat wherever it exists and to update budgets accordingly.”

Always have backup
Without a reserve account, individual have few options against unexpected costs. The Wall Street Journal recommended it's a best practice to have at least three to nine months worth of income stashed away at any given point in time.1 This backup cash allows individuals to maintain their standards of living and afford the unexpected expenses in the meantime, tiding them over until things are back to normal.

Cut the fat
Reducing unnecessary expenses or costs that have become unduly burdensome is key to staying on top of out-of-control budget problems. Main St, an online resource for financial advice, indicated fluctuations in the economy are a given, but financial fortitude should be something that all workers should practice.2 If gas becomes too expensive, then look for alternate transportation options. If employers reduce sponsored contributions to retirement plans, then search for other financial vehicles. The goal is to cut any financial fat wherever it exists and to update budgets accordingly.2

Manage debt loads
Debt may be one of the biggest inhibitors to savings. Because many of us tend to have high debt loads, interest continues to build up, siphoning off valuable financial resources each month. By paying down these debts more quickly and keeping debt-to-income ratios below 28 percent, individuals can help ensure they are not putting their pocketbooks at risk of disaster, according to The Wall Street Journal.1

By having a budget in place, workers can insulate themselves from unplanned expenses and keep their retirement assets safe from harm by not having to withdraw from those assets early.

For greater financial confidence, consider purchasing an annuity to help be sure you will have retirement income when you need it.

Get in touch with one of our licensed insurance professionals at J.D. Mellberg to find the best retirement income* strategy for your needs. Be more confident you will not outlive your money with lifetime payments** from the right annuity option.

Call us today at 1-877-805-0151.


By responding to this offer you may put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/ CA0K73712/ TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer.

*Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC.

**Some annuities may have a lifetime income guarantee as part of the base policy; others may have riders available that provide this benefit. Riders may also be available for benefits like an annual increase to help combat inflation or for as much as doubling your income in case of a qualifying health event. These annuities are not long-term care and are not substitute for such coverage. Optional riders may be available with a charge.

1 Moyer, Liz. "5 tips for passing a personal finance stress test." The Wall Street Journal. March 11, 2015. http://blogs.wsj.com/briefly/2015/03/11/5-tips-for-passing-a-personal-finance-stress-test

2 Notte, Jason. "How to expect the unexpected from your personal finances." Main St. April 6, 2015. https://www.thestreet.com/story/13094166/1/how-to-expect-the-unexpected-from-your-personal-finances.html

If you are unable to access the article(s) referenced above, please call 1-877-805-0151 to request a copy.
JDM067118  Josh Mellberg
December 18, 2018 @ 5:00 am

Limit Risk in Your Retirement Strategy

Having a retirement income strategy with the capacity to meet your financial needs during your golden years is a goal that most workers wish to achieve. Unfortunately, without confidence in your financial decision-making, your strategy could become stagnant or even begin declining in value.  

To help avoid this, it's necessary that you take the time to regularly assess the strengths and weaknesses of your financial assets. Though you want to have an adequate number of different types of assets, not keeping a close eye on your strategy can leave your financial future up in the air.  

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Re-evaluating your assets every so often will help you make any corrections or to rebalance for greater financial stability. You can do this based on a set timeline or by setting predetermined thresholds based on market conditions.  

"In your later years, you're looking for guaranteed*, stable retirement income."

 
Due to factors like inflation and interest rates, your beginning balance of assets could be quite different at the end of the year. Allowing this variation to continue over a longer period of time could perhaps create a situation where you're not truly controlling how your assets are growing.  

Transition toward more protected assets While in your younger years, you were focused on accumulating wealth, now things are changing.  When you retire, your steady paycheck – your normal stream of income – will stop, and it’s time to think about how you can use what you have accumulated and how you are going to make it last.  

That's because in your later years, you're predominantly looking for guaranteed,* stable income that can be counted on rather than the potential for huge rewards on a risky bet. It's best to transpose some of your assets toward protected financial vehicles, with benefits that are accounted for and can be relied upon.  

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By reducing your susceptibility to risk, you are helping to ensure your financial future isn't derailed. For additional income, an annuity can help provide monthly payments on your own terms.  

Get in touch with one of our licensed insurance professionals at J.D. Mellberg to find the best retirement income strategy for your needs. Be more confident you will not outlive your money with lifetime payments from the right annuity option.  

Call us today at 1-877-805-0151.
By responding to this offer you may put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/ CA0K73712/ TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer.
*Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC.
**Some annuities may have a lifetime income guarantee as part of the base policy; others may have riders available that provide this benefit. Riders may also be available for benefits like an annual increase to help combat inflation or for as much as doubling your income in case of a qualifying health event. These annuities are not long-term care and are not substitute for such coverage. Optional riders may be available with a charge.

JDM061918Josh Mellberg
December 17, 2018 @ 5:00 am

Seniors Moving in With Kids Becoming More Common

A new trend in the U.S. that had seen little media coverage is seniors moving in with their children to help make ends meet.1 “Poor economic times, elderly parents living well beyond their retirement savings, and a cultural shift to more family-centric living are all responsible for this growing phenomenon.”2

The reason for much of this change seems to be partly due to medical illnesses and increased need for care, but also the financial inability for many seniors to afford to live on their own. Because millions of retirees live on fixed incomes, they may have less money to be used for "extras.” And if seniors outlive their retirement savings, few options may be open to them. That's why many are moving in with their adult children and their families.

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Baby Boomers typically had small families, and now those same senior Boomers are living longer. That means living situations may be even more strained in a matter of years when fewer family member caregivers are available.

Living Comfortably
To help avoid this predicament, saving for retirement should begin early. This will not only increase the amount of money available to you post-retirement, but may be able to keep you living independently, as well. You will potentially maintain greater financial confidence by purchasing an annuity for another steady income stream in retirement, which will help protect you against unexpected expenses and depleted savings.

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Additionally, annuities accrue interest tax-deferred and might allow you greater maneuverability in later life. By the time you retire, you should be able to spend with greater confidence, knowing that your finances are in order and your future is more insulated from economic volatility. An annuity provides an alternate source of income with regular payouts or withdrawals* to help support your preferred lifestyle.

Get in touch with Joshua Mellberg or one of our licensed insurance professionals at J.D. Mellberg to find the best retirement income strategy for your needs. Be more confident you will not outlive your money with lifetime payments** from the right annuity option.

Call us today at 1-877-805-0151.
By responding to this offer you may put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/ CA0K73712/ TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer. *Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC. **Some annuities may have a lifetime income guarantee as part of the base policy; others may have riders available that provide this benefit. Riders may also be available for benefits like an annual increase to help combat inflation or for as much as doubling your income in case of a qualifying health event. These annuities are not long-term care and are not substitute for such coverage. Optional riders may be available with a charge. 1 Patrick Kiger. “More Older Adults Are Moving in With Their Children.” AARP, Feb 05, 2018. https://www.aarp.org/home-family/friends-family/info-2018/adults-live-with-children-fd.html 2 “How You Can Lower Your Housing Costs.” Simply Seniors, accessed Dec 7, 2014. http://simplyseniors.com/mobility_and_housing/communities/moving_in_with_your_kids/ If you are unable to access the articles referenced above, please call 1-877-805-0151 to request a copy.  Josh Mellberg
December 14, 2018 @ 5:00 am

Helping to Protect Your Income Before And During Retirement

Retirement strategies predominantly focus on how to maximize your income for a more exciting and confident financial future. While this is certainly a goal to have in mind, it's also important to note that a good retirement strategy may span many decades and continue to be a factor even after you've left the workforce. Rather than creating a strict retirement goal, you should update your strategies periodically over time for even greater retirement funding potential.

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One way to do this is to reassess your income strategy at every step of the way. If you've steadily climbed your way toward the top of your profession, then you'll have more income. As opposed to financing large new purchases, additional money can be set aside for retirement.

"Utilize your earning potential and assets to your advantage."



Certified financial planner Wes Moss noted that in your 40’s, when your career is well underway, bonuses should be applied to savings, according to USA Today. Further, Moss suggested saving more than 20 percent of your income when you're 50 or older.1

This approach not only links current income levels to future retirement confidence, but it also helps put you in the habit of making smart financial decisions throughout your life. As a result, your retirement funding will be all the more financially stable.

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One of the greatest concerns among seniors is that they will outlive their income. Because many depend on just one or two retirement income sources, such as Social Security benefits or pensions, their options for retirement income may be limited. That's why you want to make it a priority to utilize your earning potential and the assets you have to your advantage.

MarketWatch indicated homes are typically one of the largest assets people have2. Increasing the value of your home and making larger mortgage payments can increase your home's equity. Then, if you retire and decide to move to a new vacation home or simply downsize to something more manageable, you'll be profiting off your home.

By limiting overspending, your living expenses will be lower, and more of your money can be directed toward retirement funding. In the case where additional retirement income is needed, an annuity is an insurance product that may help keep your financial future on the right track with guaranteed* income.

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Get in touch with one of our licensed insurance professionals at J.D. Mellberg to find the best retirement income strategy for your needs. Be more confident you will not outlive your money with lifetime payments** from the right annuity option.

Call us today at 1-877-805-0151.
By responding to this offer you may put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/ CA0K73712/ TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer.
*Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC.
**Some annuities may have a lifetime income guarantee as part of the base policy; others may have riders available that provide this benefit. Riders may also be available for benefits like an annual increase to help combat inflation or for as much as doubling your income in case of a qualifying health event. These annuities are not long-term care and are not substitute for such coverage. Optional riders may be available with a charge.
J.D. Mellberg Financial is not affiliated with nor endorsed by any government agency, including the Social Security Administration. 1Hellmich, Nanci.  “Smart ways to save for retirement at every age”, USA TODAY, January 26, 2015. http://www.usatoday.com/story/money/personalfinance/2015/01/26/retirements-savings-at-every-age/21771099/
2 Clements, Jonathan, “4 ways to avoid having to pinch pennies during retirement”, MarketWatch, January 26, 2015. http://www.marketwatch.com/story/4-ways-to-avoid-having-to-pinch-pennies-during-retirement-2015-01-24?page=2
If you are unable to access the article referenced above, please call 1-877-805-0151 to request a copy.Josh Mellberg
December 12, 2018 @ 5:00 am

What's The Key to a Happy Retirement?

Every day, individuals who are in their pre-retirement years may be found sitting at kitchen tables contemplating the date they plan to retire. This momentous decision is the crowning achievement of a life of hard work and should not be taken lightly. If you're unsure about what you want your life after retirement to look like, you should start with developing goals for your retirement.  What do you think you need to have a happy retirement? Here are three tips to help you define your goals:

1. Enjoy the little things Whether it's spending more time with your grandchildren or stealing away with your significant other to a foreign country, it's important that you make time for things you genuinely enjoy. Yes, you'll still have monthly bills and everyday pressures to deal with, but at this point in your life, your focus should be turned to enjoying your retirement.

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Picking up a new hobby or reconnecting with old friends may provide additional value to your retirement lifestyle. Not every decision should come down to budgets and expenditures. Rather, use your personal interests to help design your retirement goals.

2. Make the transition smooth Heading into retirement shouldn't be a race, but entering it shouldn't be a screeching halt either. Early in your work life, you started putting money away for your future. Now that you are nearing your retirement, you should design a retirement income strategy that fits your retirement goals and helps provide the necessary income to accomplish the things you always wanted. This approach will help make the transition into retirement seamless and less stressful.

Remember, a comfortable, financially confident retirement should be both a reality and a state of mind. But how you get there is important. By taking the time to develop a retirement income strategy you help protect the assets you have accumulated as well as provide an income to help meet your financial obligations throughout your retirement.

"A confident retirement is a financially stable retirement."

 
3. Stay on top of finances At the end of your work life, retirement is the time when your assets should be working for you. However, you should still reevaluate your financial needs routinely and make sure you're not overspending or impacting your assets in a negative way.

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Purchasing an annuity may be a good tool to have in your retirement income strategy.  It can help provide additional, guaranteed* retirement income that will last throughout your retirement.**

Get in touch with Joshua Mellberg or one of our licensed insurance professionals at J.D. Mellberg to find the best retirement income strategy for your needs. Be more confident you will not outlive your money with lifetime payments** from the right annuity option.

Call us today at 1-877-805-0151.
By responding to this offer you may put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/ CA0K73712/ TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer. *Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC. **Some annuities may have a lifetime income guarantee as part of the base policy; others may have riders available that provide this benefit. Riders may also be available for benefits like an annual increase to help combat inflation or for as much as doubling your income in case of a qualifying health event. These annuities are not long-term care and are not substitute for such coverage. Optional riders may be available with a chargeJosh Mellberg
December 10, 2018 @ 9:42 pm

An annuity may be the right gift this holiday season

As the holidays approach, millions of Americans will be flooding shopping malls and online retailers to find that perfect gift for a friend or family member. As you look for those uncommon gifts for loved ones, like clothes, electronics or gift cards, why not consider treating yourself to a gift as well: a more confident financial future.

With more and more baby boomers retiring in the next two decades, higher costs and fewer individuals contributing to Social Security,^ coupled with the fact that fewer companies offer pension benefits today, individuals need to be more responsible for their own retirement funds. To help protect you from retirement shortages, purchasing an annuity may be the right gift to give yourself.

Save More
You can help put your retirement income planning strategy on the right track this holiday season by saving more money while you're still in the workforce. Some of these savings could be used to purchase an annuity.  If an annuity is right for you, it can supplement your income to help you afford the lifestyle you want during retirement.

Tax-Deferred
One of the important benefits of an annuity is that it provides tax-deferred growth. By growing tax-deferred, your money is able to grow faster and accrue interest, making every dollar count for even more.

Set Your Own Schedule
With an annuity, you have more control of your retirement income.  Annuities allow you to select your own payout schedule. You may want to access your money in a lump-sum payment or you may want to set your annuity payouts to begin monthly for however long you want. Annuities can help provide guaranteed* payments for the rest of your life,** which gives you more financial freedom and confidence knowing you can expect a payout stream for as long as you live.

So do yourself a favor and make your financial future a top priority this holiday season by exploring what an annuity might do for your retirement future, and possibly purchasing that gift for yourself, an annuity.

There are different types of annuities and different annuity benefits.  Get in touch with Josh Mellberg or one of our licensed insurance professionals at J.D. Mellberg to determine if an annuity is right for you.  They can help you find the best annuity for your needs.

Be more confident you will not outlive your money with lifetime payments** from the right annuity option.

Call us today at 1-877-805-0151.
  *Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC.

**Some annuities may have a lifetime income guarantee as part of the base policy; others may have riders available that provide this benefit. Riders may also be available for benefits like an annual increase to help combat inflation or for as much as doubling your income in case of a qualifying health event. These annuities are not long-term care and are not substitute for such coverage. Optional riders may be available with a charge.

^Not affiliated with nor endorsed by any government agency, including the Social Security Administration.

By responding to this offer you may put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/ CA0K73712/ TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer.Josh Mellberg
December 7, 2018 @ 8:43 pm