Latest Stories in "In The News"

Clark Smith of Golden Years Financial Shares Retirement Planning Insights on FOX’s The Morning Blend

With over three decades of experience in financial advising, Clark Smith of Golden Years Financial remains a trusted leader in the retirement planning space. From his early days as the youngest Retirement Planning Specialist at Dean Witter Reynolds to managing a small hedge fund at Woodridge Partners, Smith has built a career on empowering clients to retire with confidence and clarity. 
Recently, Smith was featured on Fox’s The Morning Blend, where he discussed the key elements of building a successful retirement strategy. In the interview, Smith shared how his unique approach blends decades of Wall Street experience with a heartfelt commitment to client education. “Retirement planning isn’t just about growing your portfolio—it’s about protecting your lifestyle, your legacy, and your peace of mind,” Smith said. Watch the full interview here: FOX47 Interview – Clark Smith. 
Smith emphasized the importance of evaluating income streams, assessing tax implications, and implementing personalized, diversified strategies tailored to each client’s goals and risk tolerance. He also addressed the realities of market volatility and the growing need for comprehensive plans that adapt to life’s changes. “There’s a difference between simply retiring and retiring well,” Smith stated. “Our goal is to help you do the latter—with clarity, purpose, and protection.” 
Golden Years Financials’ advisory model is built on experience, transparency, and strategic insight. Through both investment management and insurance planning, Smith and his team deliver comprehensive retirement solutions that go far beyond traditional financial advice. 
About Clark Smith:
Clark Smith began his financial career in 1990 at Dean Witter Reynolds, where he became the youngest Retirement Planning Specialist by 1993. He later held senior positions at Prudential Securities and UBS before co-founding Woodridge Capital Portfolio Management in 2006. From 2008 to 2016, he managed a hedge fund with Woodridge Partners. After a short retirement, he returned to the industry and served as Senior Advisor and Head of Training for a midwestern firm from 2022 to 2024, where he mentored the next generation of financial professionals. 
Today, as a leader at Golden Years Financial, Clark Smith brings a unique combination of high-level investment experience and a deep commitment to guiding individuals through one of life’s most important transitions—retirement. 
Learn more: https://goldenyearsria.com 

Disclosures:
Insurance products are offered through the insurance business Golden Years Financial. Golden Years Financial is also an Investment Advisory practice that offers products and services through AE Wealth Management, LLC (AEWM), a Registered Investment Adviser. AEWM does not offer insurance products. Insurance products offered by Golden Years Financial are not subject to Investment Adviser requirements.
Investing involves risk, including the potential loss of principal. Any references to protection, safety or lifetime income generally refer to fixed insurance products, not securities or investments. Insurance guarantees are backed by the financial strength and claims-paying ability of the issuing carrier.
This interview is intended for informational purposes only and should not be used as the sole basis for financial decisions. It does not constitute personalized financial, legal, or tax advice. Golden Years Financial is not affiliated with or endorsed by the U.S. government or any governmental agency. The information shared is believed to be reliable but cannot be guaranteed. 

Leslie Hammock Founder of Retire By Design Interviewed on the Influential Entrepreneur Podcast Discussing How Life Insurance Fits into Retirement

Leslie Hammock discussing How Life Insurance Fits into Retirement
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-leslie-hammock-founder-of-retire-by-design-discussing-how-life-insurance-fits-into-retirement/
 In this episode of Influential Entrepreneurs, host Mike Saunders welcomes back Leslie Hammock, founder of Retire By Design, to discuss the crucial role of life insurance in retirement planning. Leslie shares insights from his 40 years of experience, emphasizing that life insurance is not merely an expense but a vital component of a well-structured retirement plan. He recounts his personal experience with his family’s life insurance, highlighting how it served as a financial safety net for his mother after the unexpected loss of his father. The conversation delves into the two main categories of life insurance—temporary (or term) and permanent—exploring how each type can fit into a comprehensive retirement strategy. Tune in to gain a deeper understanding of how proper life insurance can enhance financial security during retirement.
 The Role of Life Insurance in Retirement Planning
Life insurance is often viewed merely as a safety net for beneficiaries after one’s death. However, as discussed in the podcast episode featuring Leslie Hammock, founder of Retire by Design, life insurance can play a multifaceted role in retirement planning, offering both death benefits and living benefits that can significantly enhance financial confidence during retirement.
Understanding Life Insurance Types
Leslie categorizes life insurance into two main types: term insurance and permanent insurance.
Term Insurance

Temporary Coverage: Term insurance is designed to provide coverage for a specific period, typically ranging from 10 to 30 years. It is often recommended for younger individuals who are raising children and managing significant debt.
Cost-Effective: Term insurance generally has lower premiums compared to permanent insurance, making it an attractive option for those in their younger years.

Permanent Insurance

Lifetime Coverage: Permanent insurance, which includes whole life, universal life, and indexed universal life, provides coverage for the insured’s entire life, as long as premiums are paid.
Cash Value Accumulation: Permanent policies build cash value over time, which can be accessed during the policyholder’s lifetime. This feature can be particularly beneficial for retirement planning, as it allows for tax-free income through policy loans.

The Importance of Timing
Leslie emphasizes the importance of timing when it comes to purchasing life insurance. By the mid-50s, individuals should consider transitioning from term to permanent insurance. This is crucial because:

Health Changes: As people age, health issues may arise, making it more difficult or expensive to obtain new coverage.
Cost Considerations: Purchasing permanent insurance in your 40s is significantly cheaper than waiting until retirement age.

Living Benefits of Permanent Insurance
One of the most compelling aspects of modern life insurance policies is the inclusion of living benefits. These benefits can provide financial support while the policyholder is still alive, addressing various needs such as:

Chronic Illness: Coverage for long-term care, whether at home or in a facility.
Terminal Illness: Access to the death benefit if diagnosed with a terminal illness.
Critical Illness: Funds available for significant health events like cancer or heart attacks.

These living benefits can alleviate the financial burden of healthcare costs, allowing individuals to maintain their quality of life without depleting their retirement savings.
Tax Diversification and Retirement Income
Leslie discusses how permanent life insurance can complement other retirement vehicles, such as IRAs, by providing tax-free income. Key points include:

Tax-Free Loans: Loans taken against the cash value of a life insurance policy are not subject to income tax, making them an attractive option for accessing funds without incurring tax liabilities.
Flexible Financial Strategy: Permanent life insurance can serve as a financial resource for various needs, such as funding children’s education or covering unexpected expenses, without the need to withdraw from retirement accounts during unfavorable market conditions.

Holistic Financial Planning
Leslie highlights the importance of a holistic approach to financial planning. Rather than piecemeal planning, where different financial aspects are managed in isolation, a comprehensive strategy ensures that all elements—insurance, investments, and estate planning—work together effectively. This integrated approach can lead to better outcomes and a more confident financial future.
Leslie shared: “Financial planning isn’t a one-time event. It shouldn’t be piecemeal. Retirement and Estate Planning should go hand in hand.  I am committed to walking beside my clients every step of the way”
 Video Link: https://www.youtube.com/embed/ZlJTv25SW1c
 About Leslie Hammock
Leslie Hammock was born in Perry, Georgia, graduated from Stratford Academy, and later graduated from Mercer University in Macon, Georgia. He began his career with Mass Mutual. After a number of successful years, Leslie founded his own firm. Leslie has extensive personal and professional experience with an emphasis on Retirement and Estate planning strategies for professionals, business owners, and individuals working in both private and government sectors.
Leslie has been the recipient of the National Quality Award. He is also a long-time member of the International Association of Registered Financial Consultants (RFC), a member of the National Ethics Association, and an Independent Fiduciary Investment Advisor.
Leslie is an approved adult financial education instructor and holds classes at numerous local colleges on the subjects of Investment Planning, Retirement Planning, Social Security Maximization, Estate Planning, and many other topics.
Leslie is dedicated to developing lasting relationships with all his clients in their wealth accumulation and preservation objectives. He takes pride in his ability to provide clear, easily understood strategies using various financial products, services, and cutting-edge analytical technology.
Learn more: http://www.retirebydesign.com/
Disclosure: Securities and investment advisory services offered through Integrity Alliance, LLC, Member SIPC. Integrity Wealth is a marketing name for Integrity Alliance, LLC. Retire By Design is not affiliated with Integrity Wealth. IUL Disclosure: Indexed Universal Life Insurance is an insurance contract that, depending on the contract, may offer a guaranteed annual interest rate and some participation growth, if any, of a stock market index. Such contracts have substantial variation in terms, costs of guarantees and features and may cap participation or returns in significant ways. Any guarantees offered are backed by the financial strength of the insurance company, not an outside entity. Investors are cautioned to carefully review an indexed universal life insurance for its features, costs, risks, and how the variables are calculated.SSA & SSA Max Disclosures: Not associated with or endorsed by the Social Security Administration, Medicare or any other government agency. Maximizing your Social Security Benefits assumes foreknowledge of your date of death. If as an example you wait to claim a higher monthly benefit amount but predecease your average life expectancy, it would have been better to claim your benefits at an earlier age with reduced benefits.

Recent News and InterviewsLeslie Hammock Discussing The 5 Risks of Retirementhttps://businessinnovatorsradio.com/interview-with-leslie-hammock-founder-of-retire-by-design-discussing-the-5-risks-of-retirement/

 
 
 
 
 
 

Don Hanifin, Founder of DH Retirement Solutions, Interviewed on The Influential Entrepreneurs Podcast, Discussing Guaranteed Income & Tax Risk

Don Hanifin discusses the importance of guaranteed income & tax risk
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-don-hanifin-founder-of-dh-retirement-solutions-discussing-guaranteed-income-tax-risk/
 In this episode of Influential Entrepreneurs, host Mike Saunders welcomes back Don Hanifin, founder of DH Retirement Solutions. The discussion centers around the concepts of guaranteed income and tax risk in financial planning, particularly for retirement. Don emphasizes the importance of preparing for a long retirement, as the average American may spend up to 20 years in this phase of life. He highlights that 69% of people fear they haven’t saved enough for retirement, making it crucial to ensure a dependable income stream.
When planning for retirement, one of the most critical aspects to consider is ensuring a reliable and predictable income stream. This is where guaranteed income sources come into play. The primary sources of guaranteed income for retirees include Social Security, pensions, and annuities. Each of these sources plays a vital role in helping individuals manage their finances during retirement and mitigate longevity risk—the risk of outliving one’s savings.

Social Security

Social Security is a government program that provides monthly benefits based on an individual’s work history and earnings. It is designed to supplement, rather than completely replace, pre-retirement income. One of the key features of Social Security is its cost-of-living adjustment (COLA), which typically hovers around 3%. This adjustment helps retirees maintain their purchasing power over time, making Social Security a crucial component of a retirement income strategy.

Pensions

For those fortunate enough to have access to a pension, this employer-sponsored plan can provide a fixed income stream, often for life. Pensions may also include a cost-of-living adjustment, further enhancing their value as a reliable income source. The predictability of pension payments allows retirees to plan their budgets with greater confidence, knowing they have a steady income to cover essential expenses.

Annuities

Annuities are financial products that can offer a “contractually guaranteed” income stream, making them an attractive option for retirees looking to secure their financial future. Specifically, fixed indexed annuities are highlighted as a preferred choice because they are not subject to market fluctuations. This means that even if the market performs poorly, the money earned in the annuity is retained, providing a secure place to park funds until they are needed for income.  Annuities can be particularly beneficial in addressing longevity risk. As people are living longer and healthier lives, the need for a sustainable income that lasts throughout retirement becomes increasingly important. By incorporating annuities into their retirement strategy, individuals can ensure they have a reliable income source that can help cover their expenses for as long as they live.
Don shared: “The big takeaway is you’ve got a system where you can sit down with someone and put them through an analysis.”
Video Link: https://www.youtube.com/embed/7V9D3n5OyPs 
 
About Don Hanifin
With 29 years of experience in the financial services industry, Don is the founder and owner of DH Retirement Solutions, Inc. Based in Massachusetts and Connecticut, Don specializes in helping individuals and families navigate retirement income planning with a focus on optimizing income and reducing taxes.
Don works with clients to create comprehensive strategies that integrate life insurance, annuities, Medicare, and longevity care allocation planning. By taking a proactive approach, Don helps clients secure their financial future, ensuring they enjoy a comfortable and worry-free retirement.
A trusted advisor, Don provides personalized solutions that align with each client’s unique goals and financial situation, all while helping them maximize their retirement savings and minimize tax liabilities.
Insurance Licensed in MA & CT | Retirement Income Planning Expert
 
Learn More: http://dhretirementsolutions.com/
Recent News and Interviews

Don Hanifin Discusses How Life Insurance Fits into Retirement: https://businessinnovatorsradio.com/interview-with-don-hanifin-founder-of-dh-retirement-solutions-discussing-how-life-insurance-fits-into-retirement/
Don Hanifin Discusses Long-Term Care Risk: https://businessinnovatorsradio.com/interview-with-don-hanifin-founder-of-dh-retirement-solutions-discussing-long-term-care-risk/

 
 
 
 
 
 

Don Hanifin, Founder of DH Retirement Solutions, Interviewed on the Influential Entrepreneurs Podcast Discussing Long-Term Care Risk

Don Hanifin discusses long-term care risk
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-don-hanifin-founder-of-dh-retirement-solutions-discussing-long-term-care-risk/
 Don Hanifin, founder of DH Retirement Solutions, discusses the critical topic of long-term care risk in retirement planning. Don emphasizes the importance of understanding how long-term care can impact financial stability, likening it to a potential leak in a retirement income bucket. He addresses common misconceptions surrounding Medicare’s coverage of long-term care, highlighting the confusion that often arises from the government’s messaging. Don also notes a significant change in Medicare’s definition of long-term care set to take effect in 2025, which he brought to the attention of his peers during a national conference.
Long-term care (LTC) represents a significant financial risk in retirement, making it essential for individuals to understand its potential impact on household finances as part of effective retirement planning (CT & MA). In a recent episode of the podcast “Influential Entrepreneurs,” Don Hanifin, discussed the complexities surrounding long-term care and the importance of having a strategy in place.

High Monthly Costs: The episode outlines the staggering costs associated with various types of long-term care:
Home Care: Approximately $5,500 per month.
Adult Daycare: Ranges from $1,900 to $2,000 per month.
Assisted Living: Costs between $5,000 and $6,000 per month.
Nursing Homes: The most expensive option, with costs ranging from $13,000 to $20,000 per month – or more, depending on where you live.

These figures illustrate how quickly long-term care expenses can deplete a lifetime of savings, underscoring the necessity for individuals to plan ahead.

Lack of Awareness: Many people are unaware of the financial implications of long-term care. Don points out that while individuals often have strategies for unexpected events, such as a tree falling on their garage, they typically lack a plan for health conditions that may require long-term care, like Alzheimer’s. This lack of preparation can lead to financial devastation when the need arises.
Informal Care Costs: The episode also discusses the financial impact on family caregivers. According to the RAND Corporation, family caregivers lose over $500 billion in wages annually, with many spending their own money—averaging just under $7,500—on caregiving expenses. This financial strain can further complicate household finances, especially for those who may already be struggling.

Given the potential for long-term care to significantly affect retirement savings, it is vital for individuals to consider their options early. The podcast emphasizes the need for education and awareness regarding long-term care insurance and other financial strategies.

Insurance Options: Only about 3% of Americans currently have long-term care insurance, which can help mitigate these costs. However, many people are hesitant to invest in such policies, often due to misconceptions about their value. Don reminds us that just like auto or  homeowners insurance you do not pay “into” your policy – you pay “for” it (cash value is never built).  Insurance products are designed to leverage personal dollars against catastrophic loss.  Having essential coverage guarantees a person will have strong choices.
Alternative Resources: The episode also discusses alternative resources for funding long-term care, such as tapping into life insurance cash value or utilizing home equity. Additionally, hybrid policies that combine life insurance with long-term care benefits are becoming more popular, providing a safety net for those who may need care while also ensuring a death benefit for heirs.

In summary, long-term care represents a significant financial risk in retirement, with costs that can quickly escalate and threaten household finances. The lack of awareness and planning around this issue can lead to devastating consequences for individuals and their families. Engaging with financial professionals, like Don, can help individuals navigate these complexities and develop a comprehensive strategy to address long-term care needs effectively.
Don emphasizes that many people do not have a strategy in place for dealing with long-term care needs, often relying on the hope that they will not require such services. This lack of preparation can lead to devastating financial consequences, as the costs of long-term care can quickly deplete a lifetime of savings.
As a result of the limited coverage options and the low uptake of long-term care insurance, many families find themselves in the position of providing informal care. Hanifin notes that family caregivers often bear the brunt of this responsibility, with a significant impact on women who often take on the role of caregiver for aging parents.
Don shared: “Medicare and You. I suggest to people that attend seminars when we’re talking about Medicare or Social Security, keep that book by your bedside. It is nature’s most powerful natural sleeping pill.”
Additionally, AARP reports that informal caregivers spend an average of just under $7,500 of their own money annually to support their loved ones. This financial burden can strain family relationships and lead to feelings of resentment or burnout among caregivers.
Video Link: https://www.youtube.com/embed/uCUyam2nWGI
About Don Hanifin
With 29 years of experience in the financial services industry, Don is the founder and owner of DH Retirement Solutions, Inc. Based in Massachusetts and Connecticut, Don specializes in helping individuals and families navigate retirement income planning with a focus on optimizing income and reducing taxes.
Don works with clients to create comprehensive strategies that integrate life insurance, annuities, Medicare, and longevity care allocation planning. By taking a proactive approach, Don helps clients secure their financial future, ensuring they enjoy a comfortable and worry-free retirement.
A trusted advisor, Don provides personalized solutions that align with each client’s unique goals and financial situation, all while helping them maximize their retirement savings and minimize tax liabilities.
Insurance Licensed in MA & CT | Retirement Income Planning Expert
Learn More: http://dhretirementsolutions.com/
Recent News and Interviews:
Don Hanifin discusses how life insurance fits into retirement: https://authoritypresswire.com/don-hanifin-founder-of-dh-retirement-solutions-interviewed-on-the-influential-entrepreneurs-podcast-discussing-how-life-insurance-fits-into-retirement/

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