services

Financial Services

At Engolio Financial Group we employ a variety of strategies and methods to ensure that our clients are prepared for a financial sound future:


It is important for your financial professional to see a complete, 360 degree view of your financial picture, including how  your retirement assets are integrated and work with one another.  We will then use several tools, one being the Retirement Analyzer, to begin a written plan for your future.  This interactive online plan will allow you to use your specific financial information and make changes when and where they are needed to form a sound plan.

Retirement Planning

Retirement income strategies are not just for the wealthy. As retirement nears, the traditional strategy has been to move growth-seeking products to more conservative, fixed-income products.  According to a recent study, for a married couple age 65 there is now a 50% chance that at least one spouse will live to age 94. 1 This means that you may need to plan for your retirement savings to potentially last 25 to 30 years.

One drawback to a longer life is the greater possibility of outliving your savings – creating all the more reason to develop a retirement income strategy designed to last a longer lifetime. Sixty one percent of Americans surveyed said they were more afraid of outliving their assets that they were of dying. 2

A significant loss in the years just prior to and/or just after you retire could negatively impact the level of income you receive over the course of your life.  In fact, if a loss occurs earlier in life, there is also the chance that you may have more time to recover (versus a loss occurring later in retirement).  Why?  Simply because a smaller pool of assets is left to sustain you throughout your retirement years, and your assets may not have as much time to recover.

We can help you design a guaranteed* retirement income strategy which incorporates insurance and annuity vehicles to create opportunities for long-term growth as well as guarantee* income throughout your retirement.

1http://www.rdmarketinggroup.com/Files/AG%20Secure%20Lifetime%20GUL%20and%20LIS%20Client%20Guide.pdf. Prepared by Ernst & Young Insurance and Actuarial Advisory Services practice. The analysis uses the Annuity 2000 mortality table with Scale G2 mortality improvements.

2 State of the Insured Retirement Industry: 2012 Recap and a 2013 Outlook, Insured Retirement Institute

*Guarantees are backed by the financial strength and claims-paying ability of the issuing company, and may be subject to restrictions, limitations or early withdrawal fees. Annuities are not FDIC insured.

Your insurance professional is not permitted to offer, and no statement contained herein, shall constitute tax, legal or accounting advice. You should consult legal or tax professional on any such matters. For guidance on your securities holdings, please consult with a broker/dealer representative or registered investment advisor.

Wealth Accumulation

You may be able to use time to your advantage when investing for wealth accumulation.

The longer you invest, the more potential your money has to compound interest. If your portfolio has not fully recovered from losses in recent years, you may wish to consider a more aggressive allocation to make up for lost ground and get back on track to accumulating wealth.

However, with fluctuations in the stock market, it is important to remember that more conservative retirement strategies typically have only a portion of the assets invested in the stock market. Allocations can be set aside for more conservative investments and/or secured* income contracts such as annuities. Annuities are long-term vehicles designed to generate supplemental income during retirement. They have minimum guarantees backed by the strength and claims-paying ability of the issuing insurance company. After all, the last thing you want to do is lose more ground during the next market correction.

* Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing carrier.

Asset Protection

Because the market does not provide security, you may want your financial strategies to include some guaranteed* income products. For example, annuities, which are insurance products with guarantees*, can provide a source of supplemental income throughout your retirement.

Twenty-first century asset protection calls for more than just strategic asset allocation. Including products like annuities in your retirement income strategy can help protect* your money from declines due to market losses.

Diversifying your retirement assets among a variety of vehicles—both through insurance products and investments, depending on what is appropriate for your situation—may offer you the best chance of meeting your retirement income goals throughout your lifespan.

*Guarantees are backed by the financial strength and claims paying ability of the issuing insurance company.

Your insurance professional is not permitted to offer, and no statement contained herein, shall constitute tax, legal or accounting advice. You should consult with a legal or tax professional on any such matters. For guidance on your securities holdings, please consult with a broker/dealer representative or registered investment advisor.

IRA & 401k Rollovers

When you change jobs or retire, there are four things you can generally do with the assets in any employer-sponsored retirement plan:

  • Leave the money where it is
  • Take the cash (and pay income taxes and perhaps a 10 percent federal penalty tax if you are younger than age 59½)
  • Transfer the money to another employer plan (if the  new plan allows)
  • Roll the money over into 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.

If you determine to cash out of an IRA, we can help you find suitable vehicles to help you reach your retirement income goals.

For guidance on your securities holdings, please consult with your own broker/dealer representative or registered investment advisor.

Your insurance professional is not permitted to offer, and no statement contained herein, shall constitute tax, legal or accounting advice. You should consult with a legal or tax professional on any such matters. For guidance on your securities holdings, please consult with a broker/dealer representative or registered investment advisor.

By attending an event or meeting, you may be offered insurance products for sale.

Annuities

In the past, retirees could typically count on three sources of retirement income that divided roughly into thirds. The three sources of income have traditionally been government funded Social Security, employer-sponsored components and individual savings. With this traditional scenario, both the government and employer-sponsored components of the strategy were considered predictable—reliable income sources that may also be adjusted for inflation, like Social Security benefits. Only one-third of the plan, individual savings, was the responsibility of the individual. Today, however, due to employer-sponsored plans evolving from guaranteed pension payouts to more defined benefit contribution plans, which generally result in a payout in retirement based upon level of individual participation, the majority of the burden for retirement income seems to have shifted to the individual. For this reason, you may want to consider a guaranteed* fixed income component to your retirement strategy. In short, adding an annuity may be an opportunity to help ensure a portion of your retirement income will be guaranteed*.

An annuity is a contract you purchase from an insurance company. For the premium you pay, you receive certain fixed and/or variable interest crediting options able to compound tax deferred until withdrawn. When you are ready to receive income distributions, this vehicle offers a variety of guaranteed* payout options. Most annuities have provisions that allow you to withdraw a percentage of the value of the contract each year up to a certain limit. However, withdrawals can reduce the value of the death benefit, and excess withdrawals above the restricted limit typically incur “surrender charges” within the first five to fifteen years of the contract. Withdrawals will reduce the contract value and the value of any protection benefits, and because they are designed as a long-term retirement income vehicle, annuity withdrawals made before age 59½ are subject to a 10 percent penalty fee, and all withdrawals may be subject to income taxes.

* Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by carrier. Annuities are NOT FDIC insured.

Your insurance professional is not permitted to offer, and no statement contained herein, shall constitute tax, legal or accounting advice. You should consult with a legal or tax professional on any such matters. For guidance on your securities holdings, please consult with a broker/dealer representative or registered investment advisor.

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. A general rule is that you may want to 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. In a level premium term policy, you pay the same amount of premium from the first day of the policy until the term ends. A permanent insurance policy, on the other hand, will stay permanently in effect for the rest of your life so long as premiums continue to be paid.

Your insurance professional is not permitted to offer, and no statement contained herein, shall constitute tax, legal or accounting advice. You should consult with a legal or tax professional on any such matters. For guidance on your securities holdings, please consult with a broker/dealer representative or registered investment advisor.

Also offered at no cost is the Portfolio Stress Test to determine your current risk and exposure to the current stock market.  This is also an interactive tool to let you take a look at your investment so that you can understand it today – and so that you can understand what would happen if there were future changes – a stock market crash or decline for instance.