Retirement Planners Knoxville TN

Equity-indexed annuity returns are linked to the performance of a stock index, such as the Standard & Poor’s 500. Interestingly, many of these products allow you to participate in the gains of the stock market, but without any risk of loss each year. To further decrease risk, the insurance company guarantees a minimum interest rate, typically around one to three percent. This category of annuities was introduced about six to seven years ago, and has become the fastest growing type of deferred annuity due to its combination of safety and upside growth potential. Overall, when used properly, annuities can be a valuable retirement investment tool.

John Smartt
Financial Counseling & Administration
(865) 588-4159
2001 Partridge Run Lane
Knoxville, TN
Expertises
Ongoing Investment Management, Hourly Financial Planning Services
Certifications
NAPFA Registered Financial Advisor, CPA

Data Provided by:
R. Bryan Hankla
Resource Advisory Services, Inc.
(865) 560-0140
2099 Thunderhead, Suite 201
Knoxville, TN
Expertises
Helping Clients Identify & Achieve Goals, Ongoing Investment Management, Retirement Plan Investment Advice, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, CFP®

Data Provided by:
Mrs. Jennifer Davie Steffens, CFP®
(865) 971-2444
800 S. Gay Street
Knoxville, TN
Firm
First Tennessee Bank

Data Provided by:
Mr. Robert E. Claytor Ii, CFP®
(865) 971-2451
800 S Gay St
Knoxville, TN
Firm
First Tennessee Bank - Financial Planning
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Income: $250,001 - $500,000

Profession: Not Applicable

Data Provided by:
Mr. Matthew W. Odom, CFP®
(865) 329-1232
First Tennessee Plaza, Suite A
Knoxville, TN
Firm
UBS Financial Services Inc.
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Divorce Issues, Investment Management, Retirement Income Management, Risk Management, Wealth Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $250,001 - $500,000

Profession: Business Executives

Data Provided by:
Derek Kennedy
Kennedy Wealth Management, LLC
(865) 824-2834
200 Prosperity Drive
Knoxville, TN
Expertises
High Net Worth Client Needs, Middle Income Client Needs, Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Hourly Financial Planning Services, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, CFP®

Data Provided by:
J. David Lewis
Resource Advisory Services, Inc.
(865) 560-0140
2099 Thunderhead, Suite 201
Knoxville, TN
Expertises
Helping Clients Identify & Achieve Goals, Advising Entrepreneurs, Advising Medical Professionals, Ongoing Investment Management, Planning Issues for Business Owners, Retirement Plan Investment Advice
Certifications
NAPFA Registered Financial Advisor, MBA

Data Provided by:
Mr. William Gordon Savage Jr., CFP®
(865) 766-8681
900 S Gay St
Knoxville, TN
Firm
BB&T Wealth Management
Areas of Specialization
Asset Allocation, Banking, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $5,000,001 or more

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mr. Thomas A. Siler, CFP®
(865) 522-5183
800 S Gay St
Knoxville, TN
Firm
UBS Financial Services Inc

Data Provided by:
Christopher C. Martin, CFP®
(865) 521-8818
800 S. Gay St, Suite 2200
Knoxville, TN
Firm
Merrill Lynch Bank & Trust Co., Fsb
Areas of Specialization
Business Succession Planning, Comprehensive Financial Planning, Divorce Issues, Estate Planning, Insurance Planning, Investment Management, Retirement Planning
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable



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Preparing for Retirement? Here's Your Planning Guide for the Future

Preparing for Retirement?
Here’s Your Planning Guide for the Future

By: Byron Udell, JD, CLU, CFP, ChFC

Where do insurance products fit into your retirement plan? Obviously, life insurance is a key element in any sound financial plan. This is the case because if you should die prematurely before having built your retirement nest egg, there is no substitute to replace the income you would have earned during the balance of your career for the benefit of your spouse and children. The immediate and substantial lump sum your family would receive if you had life insurance would be a critical component to their future. To satisfy this element, most people choose term life insurance because it is extremely inexpensive and is now available with level guaranteed premiums for as long as 30 years. Example: A 40-year-old male non-smoker in excellent health can buy one million dollars of 30-year level premium term life insurance for less than $126 month. There are hundreds of carriers that offer term insurance, and the prices can vary greatly, so it pays to compare the rates of several companies online using an online service such as www.accuquote.com or www.term4sale.com.

But what if you die financially, not physically? Yes, a total or partial disability that causes your income to disappear is often more financially devastating than death. About 48 percent of all mortgage foreclosures are due to a disability of the breadwinner, yet only three percent are due to a death of the breadwinner. The odds of a disability lasting over 90 days, between age 30 and 65, is over 40 percent. As such, disability insurance needs to be another key component in your financial plan. Typically, you can buy coverage that will pay you about 60 percent of your pre-disability earnings, and if you pay the premiums personally, the benefits are paid to you income tax-free. Since the definition of disability is not ‘black and white’ like ‘life and death,’ the contractual provisions, specifically those defining disability, are critical. Seek the advice of someone who writes a multitude of carriers and who will understand the differences between the various contracts available. A good disability contract can be costly however, but not nearly as costly as not having it if you ever need it. Example: a 40-year-old healthy non-smoker should expect to pay over $3000 annually for a quality contract providing $5,000 per month of benefit payable to age 65 after a 90-day waiting period. For that price, the contract should also include a cost of living adjustment rider, which will increase the benefit based on the government published CPI figures.

What about savings? If you’re like most people, you may not yet be ready to risk your entire future savings in the stock market and all of its risks. But if you don’t, your savings may not keep up with inflation. And with safe, fixed rates on CD’s and other savings vehicles at 30-year lows, what choices are left?

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