[et_pb_section admin_label=”Section” fullwidth=”on” specialty=”off”][et_pb_fullwidth_header admin_label=”Fullwidth Header” title=”Success Story ” background_layout=”light” text_orientation=”left” header_fullscreen=”off” header_scroll_down=”off” parallax=”off” parallax_method=”off” content_orientation=”center” image_orientation=”center” custom_button_one=”off” button_one_letter_spacing=”0″ button_one_use_icon=”default” button_one_icon_placement=”right” button_one_on_hover=”on” button_one_letter_spacing_hover=”0″ custom_button_two=”off” button_two_letter_spacing=”0″ button_two_use_icon=”default” button_two_icon_placement=”right” button_two_on_hover=”on” button_two_letter_spacing_hover=”0″ subhead=”September 2017″] [\/et_pb_fullwidth_header][\/et_pb_section][et_pb_section admin_label=”section”][et_pb_row admin_label=”row”][et_pb_column type=”4_4″][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”left” use_border_color=”off” border_color=”#ffffff” border_style=”solid” saved_tabs=”all”]<\/p>\n
Success Story of the Month<\/em><\/strong><\/p>\n [spacer height=”03px”]<\/p>\n By David S. Edge<\/p>\n [spacer height=”03px”]<\/p>\n One phone call saved us lots of money!!!<\/strong><\/p>\n [spacer height=”03px”]<\/p>\n Gerry and JoAnn simply could not believe how many choices there are and were glad they had attended one of our many Medicare Workshops before deciding on their Medicare plan option.<\/p>\n [spacer height=”03px”]<\/p>\n Months later, they were now getting ready to retire and were planning their exit strategies on how they were going to be debt- [spacer height=”03px”]<\/p>\n They were excited about the possibility of being able to pay off\u00a0their house, but what they did not realize was that they could [spacer height=”03px”]<\/p>\n Cashing in your 401K to pay off your house isn\u2019t always the best use of that money.<\/strong> What if you invested that money in a guaranteed principal account that pays you income while protecting your principal face amount of cash in the account? This way when you finish paying your house off with this income stream, you still have that principal amount of money to now generate income cash to pay your everyday living expenses! You also don\u2019t have to pay Uncle Sam taxes on the withdrawn 401K money you cashed out, and you don\u2019t run the risk of paying a higher Part B premium every month! It\u2019s a win\/win\/win!<\/p>\n [spacer height=”03px”]<\/p>\n After reviewing Gerry and JoAnn\u2019s retirement funds and what they were currently invested in, we were able to make some improvements in their retirement cash flow! Now they could make their house payment without spending any of their principal money! When their house would be paid off in six more years, they would now have that income cash to spend!<\/p>\n [spacer height=”03px”]<\/p>\n Everyone has their hopes and dreams of what they want their retirement years to become. Some want to be debt free, some want to travel, some want to remodel their home or downsize. Some folks just want to be financially worry-free.<\/p>\n [spacer height=”03px”]<\/p>\n <\/p>\n Whatever your retirement goals, come meet with <\/p>\n [\/et_pb_text][et_pb_image admin_label=”Image” src=”https:\/\/americanretirementadvisors.com\/wp-content\/uploads\/2017\/09\/Slide5.png” show_in_lightbox=”off” url_new_window=”off” use_overlay=”off” animation=”left” sticky=”off” align=”left” max_width=”250px” force_fullwidth=”off” always_center_on_mobile=”on” use_border_color=”off” border_color=”#ffffff” border_style=”solid”] [\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Success Story of the Month [spacer height=”03px”] By David S. Edge [spacer height=”03px”] One phone call saved us lots of money!!! [spacer height=”03px”] Gerry and JoAnn simply could not believe how many choices there are and were glad they had attended one of our many Medicare Workshops before deciding on their Medicare plan option. [spacer […]<\/p>\n","protected":false},"author":1,"featured_media":7412,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\n
\nfree by paying off their house. They had decided to cash in one of their 401K accounts to accomplish their goal. They knew they would have to pay taxes on the withdrawal, but they really didn\u2019t want a house payment anymore since they weren\u2019t going to be working. Just before they transferred the money out of the account, they remembered something we told them; \u201cdon\u2019t make any financial decisions without calling us first for a free review for possible financial implications\u201d.<\/u><\/em><\/strong><\/p>\n
\ntrigger unexpected expenses. By cashing in one of their 401K\u00a0funds, their income would rise to over $170,000 on their joint tax return. They would then have to pay an increased amount for their Medicare Part B monthly premium. It increased from $134 each to $187.50 each. In a nutshell, they made and reported too much income and were now being penalized<\/strong> by Medicare. Additionally, they had to pay taxes on the cash they took out of the 401K!<\/p>\n
\nus to review what your possibilities are, and what they could be! Let\u2019s meet and make a plan!!<\/em><\/strong><\/p>\n