Hi folks, Kate here….
As I know many of you are at a BIG (and I mean B-I-G) cross-road in life….. either voluntarily or involuntarily, I have spoken to so many folks who are overwhelmed and confused.
Whether you’re retiring (preparing to collect on pension, 401K, social security or all of them) or just planning how to pivot to a new life-after-AT&T and understanding what options make the most sense for your cash-balance pension, your 401K, and individual IRA, etc. you really need to speak to an advisor who can offer you solid advice on what’s best for you, given your unique situation.
There are many options you’re faced with or questions you probably have, like I did:
- Do I leave my money in the AT&T 401K plan? Why or why not?
- What benefits are there to an individual IRA? (Trust me, there are BIG differences between IRA and 401K you need to know about)
- If I roll the money over, will I need to pay taxes?
- How can I get more money into a Roth IRA or at least get Roth-IRA style tax benefits?
- How can I maximize my retirement income?
- How can I stabilize my retirement income, and be sure it doesn’t run out?
- Should I take my cash balance pension, or leave it in the AT&T Pension Plan? And why?
- What do I need to know about Social Security?
- How best can I protect my spouse but not decrease my Pension Payout via the survivor benefit?
What I can say is EVERY SITUATION IS DIFFERENT and there is no “one size fits all” plan. And how on earth do you know if your current financial guidance is really the best? Most folks, if they’re paying for planning services (fee based) aren’t going to want to spend additional money to get a 2nd opinion and compare the advice they receive.
This is one area I can surely help. My husband stood witness to my downsizing. We’ve been married for 18 years (not nearly as long as I’ve been an employee) but I’ve been with AT&T for our entire marriage. He understands this space. And he also understands how companies devise these plans and what’s good for the company vs. what’s good for the plan participants and how to know what’s right for individuals.
If you are confused by all the surplus paperwork, and the decisions you need to make about your finances, he’s available to chat. Yes, even if it’s just to get a “second opinion” on your current plan. And, since he’s my husband, you can consider him a “friendly” in that – he’s truly a trustworthy advisor and a great problem solver. I wouldn’t risk my reputation if it weren’t so.
I can relay several situations where he’s helped clients get money back when a previous advisor placed them into a financial instrument that was not right for them, AND THEY LOST MONEY…… money which they never thought could be recouped, nor ever thought to try. As he is licensed and understands the laws and regulations around banking and insurance, he was able to provide folks with the right information to get refunded their lost money. He truly enjoys helping people and they trust him and usually continue to work with him.
Trust me, you can trust him to give it to you straight up.
So here’s my intro — and I took that headshot (below), as I’m not only a mom but our local web developer and graphic artist, but photographer as well. 🙂
Good planning — or any planning — is always better than none. But, an effective plan isn’t developed and then on auto pilot. You need to reassess your decisions and direction at least once a year.
This is especially important during times of big “transitions” in life — getting a new job, leaving a job, retiring, the death of a loved one, kids leaving home, etc.
If you currently don’t have anyone to help you understand the choices, tax implications, and pros and cons of either your existing strategy OR if you really just need a “2nd opinion” on your existing plan or planner, please know that you can reach out to my husband for assistance as this is what he does.
Best of luck to everyone
Preparing your best future!
When it comes to preparing for the future it’s important to work with someone who has the foresight and proven experience to help you navigate life’s changes successfully.
That’s where we come in. Whether you’re just starting out, growing your family, getting ready for retirement, or looking for a way to protect all that you’ve worked for, I can help you find the right solutions to make the most of today, tomorrow, and the years to come.
Louis H. Seaman | Financial Services Professional at New York Life Securities, LLC
Feel welcome to contact Lou directly, or you can email me (Kate) at email@example.com if you prefer email.
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Life is full of ups and downs
With some planning, you can help smooth out the bumps along the way. I can show you life insurance and financial products that can help. Contact me to get started