Retirement Income Generator

Who is it for?

For Individuals in pre and in retirement ages 45-79

Over age of 45 and project that your retirement guaranteed income stream from social security, pensions, 401k will not be enough to cover your recurring expenses.

Objective: To design a pension that acts like social security to give one peace of mind to fill the Income Gap void.

One hour office or zoom meeting at no cost or obligation.

HERB MINNICHHOFER, EA

Retirement Income Generator

Enrolled Agent Representing Taxpayers before the IRS

Ramsey Solutions Master Financial Coach

Over 30 Years Experience

Hawaii Location: 425 Ena Road Honolulu 96815

California Location: 151 87th Street, Suite 8, Daly City, CA 94015

Website: www.herbminnichhofer.com

Email: herbminnichhofer@gmail.com

cell (650) 291-3135

CA INS # OC81493 EA # 102201

Agenda

  • Stanford University center of longevity study on aging
  • Educate on the options available of a 401K/403B plan when one retires or leaves a job for a new one.
  • Create a ‘rough’ Budget of Income and Expenses
  • Defining income stream of guaranteed income (pensions)
    • Social Security
    • Union/Governmental/other pensions
  • If no gap exists, a new pension might not be needed.
  • If the need is there, a future meeting to discuss various solutions to fill the gap is recommended.
  • Accumulation and Decumulation of Assets

Income Seven Bullet Points Statement of Understanding

  1. $10,000 minimum – ages to 80
  2. NOT INVEST IN STOCKS/BONDS/MUTUAL FUNDS/CRYPTOl
    A CONTRACT WITH AN INSURANCE COMPANY
    • Earns Interest based on how Index’s are doing: S/P500, Nasdaq 100 Bloomberg balance
    • Calculate EOY Point to Point with Cap or Spread/Participation rate
    • If cap is 7% and actual is 10% then get 7% credit
    • If cap is 7% and actual is 5% then get 5% credit
    • If cap is 7% and actual is 8% then get 0%
  3. Surrender 7 years- If you think you need more $, then NOT A GOOD PRODUCT for you.
    Treat it like social security raise of 0% to 5.5%+
  4. Cost is 1.25% of accumulation value- when value is $0, fee stops.
  5. 3 ways to increase income:
    • Accumulation – Performance of index each year
    • Auto increase each year prior to take income
    • De-cumulation phase- get increases like SSI