If you’re like many retirees, your Social Security benefit represents years and years of hard work, and may be the foundation upon which you plan to build and grow your retirement income. Though most Americans have some basic familiarity and knowledge on the topic, far less are able to determine — on their own — the right way to file so they may be able to maximize their benefit and carefully integrate it into the rest of their retirement strategy.

At GMac Family Financial, we help our valued clients develop a clear understanding of their Social Security benefit, and both educate and inform them on the right time to start accepting their benefit. Delaying your benefit may potentially increase your benefit amount by as much as eight percent per year.

There is a lot to know about Social Security, and it is important for you to be educated so that you head into retirement with a plan on exactly how you will rely on your benefits. Our firm is committed to helping you get the most you can out of your benefit, so you can take one step closer toward the comfortable and enjoyable retirement you’ve been working so hard for! In order to help ensure you are maximizing your Social Security benefit, you should have a firm understanding of this complex matter.

We have put together an informative brochure that helps answer the following questions:

1. What is your Social Security benefit amount?
2. When is the right time to start accepting your benefit?
3. Are there different options if you are married?
4. Does earning additional income while you are on Social Security impact the value of your benefit?
5. Do you pay tax on your benefit?

Please contact us to receive your brochure today!

We are not affiliated with, or endorsed by, the Social Security Administration or any other government agency.

One essential part of preparing for your retirement is determining your current and future tax liability and developing a tax strategy to minimize the amount of taxes you pay during retirement. Tax planning is an integral part in planning your legacy and can directly impact the amount of wealth you will be able to hand over to your heirs and beneficiaries. We recommend taking steps to ensure that your customized retirement strategy is able to take advantage of any possible tax credits and deductions to help secure and maintain what you’ve worked hard to save.

Utilizing the help of certified public accountants can be important to your business. Such a team can help monitor tax law changes specific to your retirement, provide sound and dependable tax strategy recommendations, and serve as your advocate in tax matters.

GMac Family Financial does not offer tax planning services.

Enjoy smooth sailing in retirement with proper income planning.

Income planning for retirement can be a daunting task for many retirees because there can be a lot to learn, and to many people a lot of the information is new. Whether you are just setting out on your retirement journey, or it is already well underway, you may be skeptical of whether you’ll have enough retirement income to maintain a comfortable and enjoyable lifestyle.

There are three major phases in the management of retirement income:

1. The accumulation phase
2. The distribution phase
3. The preservation or transfer phase
4. Determining how much retirement income you will need
5. Estimating how long your current income plan may last
6. Calculating how much additional income you may need
7. Evaluating your additional income sources

Because taxes play a major role in any retirement income planning process, our firm will utilize the most tax advantaged vehicles to accomplish your retirement income goals, such as traditional IRAs, Roth IRAs, 401(k)s, and IRA rollovers.

Keep in mind, while the numerous options for your retirement savings may seem overwhelming, all of us at GMac Family Financial are here to help you make sense of it all.

We do not provide legal or tax advice and you should consult an attorney or tax advisor for such advice.

It wasn’t so long ago that retirement meant a pension and a gold watch, but today’s world looks much different than it did for generations past. The burden of retirement falls more heavily on the shoulders of individual Americans than it ever has before, but you don’t have to carry it alone.

New Generation Retirement® is a holistic approach to retirement. It consists of a five-step retirement system that we will work through together. Through this process, you’ll be confident that you have given careful consideration to asset allocation and risk, income planning, asset maximization, legacy planning and tax strategies.

The Five Steps

1. Selecting a Financial Services Professional

Step One helps you understand the role of a financial services professional and introduces New Generation Retirement System.

2. Fact and Feeling Finding

Step Two encompasses thought-provoking questions about your financial well-being and how you feel about it. It begins with the Color of Money Risk Analysis and incorporates the elements of discovery and client feedback.

3. Strategy

Step Three arms you with a deep understanding of your goals and objectives, as we craft and present a holistic strategy based on your goals and objectives. Your takeaway from this step will be a series of insightful reports always accessible to you through your Generational Vault account.

4. Solutions and Executing

If there are parts of your plan that include creating new accounts or purchasing new financial products, Step Four lays out a clear, documented process to do so. This step is characterized by efficiency using forward-thinking technology such as electronically-generated and pre-populated forms with e-signature capabilities.

5. Ongoing Relationship

Our work together isn’t over when we have completed the retirement process and product selection. Step Five addresses how we continuously work toward your long-term goals and objectives and help you monitor your financial progress.

When you work with our company, each step is recorded in Generational Vault so you can be confident knowing that you have given careful consideration to every detail of your retirement strategy.

Why choose GMac Family Financial

With a focus on a new generation of retirees, our company uses the New Generation Retirement system, which is based on three hallmarks of creating a successful retirement strategy: stewardship, transparency and technology.

Stewardship

Providing you with a stewardship level of service means we have the responsibility to present solutions that are the right fit for you. Our commitment to you is that we will always keep our focus on your goals and objectives and will act with transparency throughout our relationship.

Transparency

Our commitment to transparency ensures that each step of our work together is recorded and that every document and report is easily accessible to you. This is visible through a strong foundation of technology.

Technology

The right technology can make managing and organizing your retirement an easier process. When you partner with our company, you receive access to Generational Vault – a secure online portal that allows you to easily organize, manage and access your financial life.
Generational Vault serves as the vehicle to document and record our commitment to act as a steward and be transparent throughout our relationship.

Although some people view life insurance as a way to replace lost income or pay off debt after the passing of a loved one, it also can offer a number of potential benefits that may make it a valuable tool to accomplish different financial goals in retirement.

First and foremost, life insurance may provide peace of mind and a degree of comfort for the policyholder (the insured) that their loved ones (the beneficiaries) are taken care of financially in the event that they pass away. In addition, life insurance can be a sensible solution for many small business owners to help protect the financial future of their business if something should happen to them. Life insurance is also one of a few types of products that may offer helpful ways to reduce or avoid certain taxes.

In addition to a death benefit, however, life insurance is also one of a few types of products that may offer helpful ways to reduce or avoid certain taxes. Some of these benefits may include:

Death benefits:

• Policy death benefits paid to beneficiaries may be income tax-free.
• Some life insurance policies may allow the death benefit to be accelerated out before the insured’s death due to terminal or chronic illness, and that benefit may be income-tax free.

Tax-free exchanges:

• The insured may exchange their existing life insurance policy for a new life insurance policy and the investment gains on the original contract may be tax free.
• The insured may exchange their existing life insurance policy for an annuity and the investment gains on the original contract may be tax free.

Policy cash values:

• Cash values may grow tax-deferred during the insured’s lifetime.
• Income from cash value, when properly structured, may not be subject to income taxes.

As an independent insurance firm, we are able to shop dozens of insurance carriers to find rates and product solutions to fit your specific needs and goals, meaning we are not relegated to simply one line of products or one brand name like a captive agent. In addition, we offer complimentary reviews on your existing life insurance contracts.

Many Americans entering retirement come to find that the right strategy can be just as important as the actual dollar amount they have saved. You’ve worked hard for years to save for retirement, and now that time is upon you. Perhaps you’re now wondering if all the pieces are in place for you to enjoy a happy and worry-free retirement. Do you have the proper strategy in place to help ensure you have the retirement you’ve always wanted?

Our organization prides itself on providing retirement strategies to Rowlett and the surrounding communities. We take an extensive look at each client’s unique mix of assets — this includes everything from your bank accounts, pension, and Social Security benefits, to your estate plans, wills, taxes, insurance policies and more. Our services and strategic partnerships allow us to integrate all aspects of our clients’ wealth into a coordinated effort. Our end goal is to create financial clarity for you and your loved ones, and to promote multi-generational wealth.

We offer:

• Insurance planning
• Beneficiary review
• Retirement strategies
• Financial needs analysis
• Analysis of present and future expenses
• Estate preservation
• Income planning

When you work with us, we organize all of your financial, estate and tax preparation materials into a customized binder. Crafting your comprehensive retirement strategy is a coordinated effort on our part, and is done so using an all-inclusive view. Although many financial services professionals focus on specific products, our experience has proven that our clients’ needs are best fulfilled focusing on processes, and most importantly, people.

Making a recommendation on a retirement strategy is not a one-size-fits-all proposal. When you speak with Gmac Family Financial, we provide you a framework that aims to satisfy your retirement income budgeting needs to go along with a risk tolerance that satisfies your growth expectations. A retirement strategy simply isn’t something you do once, but something that may be ever-evolving throughout your retirement, and knowing who to turn to for advice can make a world of difference.

Some retirees are concerned with the impact a market loss may have on the future of their income and assets. Others are looking for a reliable income stream. Still others actually underestimate the impact of a market loss.

For that reason, we offer a number of insurance solutions that can be used to protect more than just your physical assets. They can also be used to help protect your future. Whether they’re right for you depends on your unique retirement goals. Our firm specializes in helping individuals secure their retirement assets while still achieving growth by offering a variety of insurance products as part of a retirement strategy.

With the right strategy, you can potentially earn money with your money through the use of fixed annuities* and life insurance. Our firm can help you create a dependable and sustainable source of retirement income to be used now, in the future or whenever you need it most.

We offer:

• Fixed and Fixed Indexed Annuities
• Life Insurance
• Long-Term Care
• Health Insurance
• Medicare Supplements

Contact us to explore if one of our insurance solutions could fit within your retirement strategy.

*Annuities are designed to be long-term insurance products. Early withdrawals may impact annuity cash values and death benefits. Taxes are payable upon withdrawal of funds. An additional 10% IRS penalty may apply to withdrawals prior to age 59 ½. Income benefit riders may be offered either built-in or for an additional cost. Annuities are not guaranteed by FDIC or any other governmental agency. Keep in mind that most life insurance policies require health underwriting and, in some cases, financial underwriting. Guarantees are based on the claims paying ability of the issuing insurance company. Fixed Indexed Annuities are insurance products and not considered a security or investment. Some restrictions may apply. We are not endorsed by, or affiliated with, the Social Security Administration or any other government agency. Call for specific details and availability.