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THE BENEFITS OF RMD MAX
Would you like to satisfy and potentially double your RMD income?
This RMD Management program can help accomplish:
This option will increase your IRA payment anywhere from 51% to 94%, depending on the type of benefits that are desirable to you and address what is called Longevity Risk. Longevity Risk is the risk of living longer than your assets, or running out of money.
What type of benefits can I get from an RMD Max account?
Create an Income you cannot outlive - The insurance company will accept the risk once you open an RMD Max account. You no longer need to worry about the ups and downs of the stock market! With this account, you have essentially set up a "Personal Pension" for yourself. Keep in mind, we use large, highly rated companies to protect your hard earned retirement funds.
We often get asked, "How much money should I place in an RMD Max account? We recommend to place just enough money in the RMD Max account to satisfy your monthly household expenses, paired with your other pension-type income, Social Security, between SS and your RMD Max account, you will never worry about meeting your monthly expenses. This leads to a stress-free retirement! RMD Max accounts can also be set up in order to increase your income payments with rising inflation, so again, just like Social Security, if the cost of living increases, so does your income!
Most who reach retirement age have never secured some type of Long-Term Care, will this help with my Long-Term Care expenses? The easy answer to this is "Yes"! Many of our clients would like to own LTC coverage, but cannot pass the strict underwriting. In addition, there are no premiums. LTC premiums have been known to increase significantly, even double from one year to the next. RMD Max Wellness Withdrawals are fixed and "in writing", so you know exactly what your benefit will be if you trigger the benefit due to your health. Below are some of the enhanced options that can help aid in paying for Home Health Care, Nursing Care, Memory Care or Terminal Illness.
Enhanced Wellness Withdrawal - If you are unable to perform 2 of 6 Activities of Daily Living, your RMD Max income has the ability to double for up to 5 years. Example on $250,000 deposit, the account will guarantee income for a 71 year old of $13,338, if the Wellness Enhancer is used, income can double to $26,676 for a period up to 5 years.
Custom Income Payouts - If you find your health starting to decline, but not enough that you need Home Health Care, or need to move to a Nursing Home, we can customize an income program that can increase your income to meet your immediate and ongoing income needs. If the situation changes, again, we can make some changes to accommodate your needs.
You said RMD Max, when you say that, just how much can I "Maximize" my RMD income once I turn age 72? We're glad you asked this! Again, one option we mentioned above provided an Enhanced payment option that would double your income for a Wellness need. That income option even before starting a wellness benefit is 56% more than what a regular RMD would be at age 72.
RMD at age 72 is 3.65% of your IRA balance. If your IRA balance is $250,000 your RMD would be $9,125. The RMD Max account "with Wellness benefits" would be $15,625 annually, that is 71% more income than if you're just taking the minimum RMD each year! This account also provides Lifetime Income benefits, once you start the income, even if your balance goes to zero ($0.00), the insurance company will continue to pay you the contractual amount for the rest of your life. Again, if later in life, you need home health care, or nursing care and cannot perform 2 of 6 Activities of Daily Living (ADL's), the income amount would double* for a period of 5 years, increasing to $31,250. There is no underwriting to be eligible for this LTC benefit.
An example of an RMD Max account that I called "stripped" or "without Wellness benefits" (some people have family that are going to take care of them, or already have LTC insurance) this specific RMD Max account, at age 72, on an IRA balance of $250,000 would pay you $17,537, that's 92% more income than just taking your RMD each year. Again, this is also a lifetime income account, once you start the income, even if your balance goes to zero ($0.00), the insurance company will continue to pay you the contractual amount for the rest of your life.
Both of the above account options can be set up to guarantee income for life for both a husband and a wife. Depending on the timing and the company you chose, there may be a slightly lower, or higher income amount, you can contact us at 480-878-7444 for a personalized quote for you and your spouse.
By securing an RMD Max account, you are addressing the Longevity Risk in your retirement portfolio. All of our RMD Max accounts provide Income for Life, which is income you cannot outlive! Please call our office for further details, or to set up a time to see how much income we can create for you.*
NOTE: The income amounts shown above are subject to change and are current for one option, quote was made on April 4, 2022. Depending on the best company chosen for you, Home Health Care/Nursing Benefits have certain stipulations, we will certainly cover all benefits in full detail.
If you would like to see how we can help maximize the income from IRA without running our of money, please click the button below to schedule a no-obligation appointment with a Registered Investment Advisor
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