services
Meeting your needs is always our number one priority
Sheehan Financial offers a variety of strategies for retirement income, and managing financial and investment risk options for clients in retirement or getting ready to retire. Once we discover what’s truly important to you and what you want, we can then help you plan now through a comprehensive approach for your financial and retirement goals.
INVESTMENTS
If you’re concerned about volatility in the stock market and these uncertain economic times, we can put together a diversified investment portfolio that matches your risk and aims to safeguard a portion of your assets from market corrections1. Your current investments may still reflect choices you made prior to retirement. So now is the time to see if investments, strategies and market allocations are needed to potentially reduce the risk of negative impacts in a volatile market2.
1. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
2. Asset allocation does not ensure a profit or protect against a loss.
LIFE INSURANCE
Are you and your family protected from unforeseen events that would impact the ability to cover your expense? Life insurance can offer that protection through a tax-free death benefit, while also providing other tax-advantaged benefits throughout retirement. Depending on your financial situation, a well-designed life insurance plan can provide income, flexibility for financial emergencies, legacy benefits for your heirs and retirement distribution planning. Additional benefits include the ability to offset the potential costs of long-term care if you need it in the future. 1
INDEXED ANNUITIES
If you’re looking for conservative retirement income, an indexed annuity strategy can potentially reduce risk while striving to provide a positive rate of return so you get to stay on track for your retirement goals. Indexed annuities offer principal protection, a portion of market growth, and living as well as death benefits. Depending on your needs, indexed annuities may be part of a comprehensive retirement approach. 1
1. Fixed Indexed Annuities (FIA) are not suitable for all investors. FIAs permit investors to participate in only a stated percentage of an increase in an index (participation rate) and may impose a maximum annual account value percentage increase. FIAs typically do not allow for participation in dividends accumulated on the securities represented by the index. Annuities are long-term, tax-deferred investment vehicles designed for retirement purposes. Withdrawals prior to 59½ may result in an IRS penalty, and surrender charges may apply. Guarantees are based on the claims-paying ability of the issuing insurance company.
Fixed and Variable annuities are suitable for long-term investing, such as retirement investing. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to age 59½ are subject to a 10% IRS penalty tax and surrender charges may apply. Variable annuities are subject to market risk and may lose value.
BENEFITS & RETIREMENT DISTRIBUTION PLANNING
Sheehan Financial focuses on strategies to distribute your income from deferred accounts and compensation plans to mitigate penalties. While we may be in a tax friendly environment now, that can change and it makes sense to start planning now. We can help with Roth IRA conversions, retirement distribution planning and rollover services for 401(k)s, Thrift Savings Accounts and other employment contribution accounts you may currently have1. Integrating tax strategies now aim to reduce the potential impact when you turn 70 1/2 and Required Minimum Distributions from these accounts start.
1. Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.
RETIREMENT PLANNING
Our goal is to work with you to help provide income for the rest of your life so that you may have the confidence to enjoy your retirement. This planning includes an analysis of your Social Security benefits, any pension, savings and employer compensation plan you have. As is the case with all the planning we do, our comprehensive approach is based entirely on your needs and not an off-the-shelf template that may not work for your unique situation.
LEGACY & ESTATE PLANNING STRATEGIES
Through the life and annuity strategies we develop we want to ensure that your beneficiaries receive your remaining assets. If applicable we work collaboratively with qualified estate planning attorneys if assets need to be placed in trusts with the goal of ensuring the proper distribution to your family and beneficiaries1.
1. LPL Financial representatives offer access to Trust Services through The Private Trust Company N.A. an affiliate of LPL Financial.
