Culotta
Your Retirement Planner

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You can no longer rely on Social Security to cover your retirement. People are living longer, health costs are rising, non-traditional retirement plans are being eliminated, and the cost of living is increasing.  Culotta Insurance & Investments is here to help you start planning safe investments today to safeguard your retirement.

Retirement Planning
Retirement income plans are not just for the wealthy. As you near retirement, the traditional strategy has been to move growth-seeking products to more conservative fixed-income products. This may have worked fine back when retirement was only expected to last five to ten years.

These days, however, people are living longer. It's not unusual for someone retiring at age 65 to live to age 90 or longer. Consider that you may need to plan for your nest egg to last potentially 25 to 30 years.

IRA Rollovers
When you change jobs or retire, here are four things you can do with the money in your employer-sponsored retirement plan:

  • Leave the money where it is
  • Take the cash (and pay income taxes and perhaps a 10%federal penalty tax if you are younger than age 59½ )
  • Transfer the money to another employer plan (if plan allows)
  • Roll the money over to an IRA
Rolling over from one qualified plan to another qualified plan allows your money to continue growing, tax deferred, until you receive distributions in retirement. We can help you determine if a rollover is the right move for you, and the best vehicle to help conserve and grow your rollover assets.

Annuities
Annuities can be exceptional complements to a well-rounded portfolio -- they have the advantage over traditional retirement plans of allowing you to invest unlimited funds, tax-deferred.

Life Insurance
Life insurance isn't for those who have died, it's for those who are left behind. When shopping for life insurance, consider needs such as replacing income so your family can maintain its standard of living, as well as paying for your funeral and estate costs. As a rule of thumb, you should seek coverage between five and seven times your gross annual income. As far as the various types of policies go, they can generally be placed into one of two categories: Term and Permanent.

Term insurance generally provides coverage for a specified period of time, and pays out a specified amount of coverage to your beneficiary only if you die within that time period. You pay the same amount of premium from the first day of the policy until the term ends. Permanent insurance, on the other hand, does not need to be renewed. A permanent insurance policy will stay permanently ineffect for the rest of your life so long as premiums continue to be paid.

Long-Term Care

As the oldest baby boomers begin to wind through their 50s, one of the biggest concerns may not be outliving income, but outliving good health.

For seniors, home health care can cost $50,000 or more per year, and nursing home care can run as high as $80,0002. Does your retirement plan account for this large a number? Twice that for a married couple? Consider that you have to exhaust all of your financial means before Medicaid will pay for long-term care. And neither your group nor major medical insurance will cover long-term care.

We can help evaluate your situation and determine if purchasing a long-term care insurance policy is the right move to insure your future.

To learn more about our long term care planning services or to schedule a free, no-obligation consultation, please click here or call at 601-657-4271.


Culotta Insurance and Investments | Phone: 601-657-4271 | Toll Free: 844-AGENT4U | PO Box 306 Liberty, MS 39645 | Privacy Policy