Dependable Retirement Planning Advisors

Berwyn Retirement Planning

A Berwyn retirement planning consultant can help you take your IL retirement goals to the next level by maximizing your savings and investment strategies. If you've been making minimum contributions to a retirement plan through your employer, your Illinois retirement planning consultant may recommend that you increase your contributions to the maximum to increase your earnings for the future. If you haven't considered opening an IRA or a Roth IRA as an independent source of retirement income, your advisor can introduce you to the advantages of these accounts.

The city of Berwyn has a long history, and many of the buildings in this community reflect its past. Berwyn is known for having a large number of classic, Chicago style bungalows, which are still in use today. Health care, education, city government and retail are among the top employers in Berwyn, and in their leisure time, residents can the city's cultural and recreational activities. As you build your career in Berwyn, you can prepare for a more secure, stable retirement with the help of a Berwyn retirement planning specialist.

Preparing for Health Care Needs

Planning an income for your retirement years is one of the most important goals of Berwyn retirement planning. However, preparing for your future medical needs is another vital aspect of planning for your future as a senior citizen in Illinois. Relying on Medicare isn't enough for most Berwyn seniors. Many older adults in IL and throughout the country may need custodial care, rehabilitation, home health care services and other services that are limited or simply not covered by Medicare.

Supplemental Medicare insurance can help you cover some of the services and treatments that are excluded from Medicare coverage. A supplemental Illinois plan may also cover Medicare coinsurance or copayments and may assist you with the costs of prescription medications. Your Berwyn retirement planning consultant can help you choose a plan that will protect your financial interests after you've retired. When you're older, and taking care of your health becomes an even greater priority, you'll appreciate this advance planning.

If you decide to retire before the age of 65, you'll need a health insurance plan that can fill the gap in your medical services before you become eligible for Medicare. Short term health insurance can cover your needs in Illinois during the years before you reach age 65. As art of your Berwyn retirement planning strategy, consider how you'll provide for your health needs if you stop working before your federal health benefits begin.

Long term care insurance can be a valuable addition to your Berwyn retirement planning strategies. With long term care coverage, you can have access to a wider range of options if you need extended custodial care, home health care, skilled nursing or hospice treatment as an elderly adult. Rather than relying on Medicare and private insurance, which offer limited coverage for these services, you can count on long term care insurance to meet your needs as a senior citizen in Berwyn.

Estate Planning in IL

You don't have to be a millionaire to have an estate, or to require estate planning services. Your estate consists of all of the real property you own, along with savings or investment accounts and other assets. To ensure that your property is distributed according to your wishes, you must plan your estate in advance. Otherwise, any property that you've willed to your survivors may be held up in probate rather than being distributed to your loved ones as you intended.

When you take time to plan your estate with the help of a Berwyn retirement planning specialist, you relieve your spouse, children or other heirs of the responsibility of diving up your property. During a period of grief, your loved ones can concentrate on commemorating your life instead of trying to figure out your intentions. A thorough estate plan can prevent family disagreements and resolve any questions about your property ahead of time. If you become incapacitated, your power of attorney can communicate your wishes on your behalf.

Life insurance is an important component of Berwyn retirement planning. A life insurance policy protects your loved ones financially if you should become terminally ill or die unexpectedly. Because life insurance benefits are not subject to income tax, your loved ones can use the payout from your policy to replace your income, cover funeral and burial costs or pursue personal goals without an excessive tax burden. Inheritance tax may apply if your estate exceeds a certain value.

Preparing for the final stages of your life is part of a Berwyn retirement planning strategy. In addition to your Last Will and Testament, you should have an advance directive to communicate your intentions for treatment if you should become unable to make your own decisions. A certified planner can advise you on how to protect your family against any contingency.

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Retirement Planners In Berwyn

Jim Hagedorn, CFA
Jim Hagedorn, CFA
1 N. Wacker Dr.
Chicago, IL 60606

Kyle Nolan
Kyle Nolan
1515 W. 22nd Street
Suite 850W
Oak Brook, IL 60523

Sam McElroy
Sam McElroy
1901 N. Clybourn Ave
Suite 302
Chicago, IL 60614

Paul Garrett
Paul Garrett
101 W. 22nd Street
Suite 200
Lombard, IL 60148

Timothy Creath, CLU, ChFC
Timothy Creath, CLU, ChFC
903 Sienna Drive
Schaumburg, IL 60193

Michael Cirelli
Michael Cirelli
27575 Ferry Road
Suite 100
Warrenville, IL 60555

Wesley Kotys, CFP, AAMS
Wesley Kotys, CFP, AAMS
175 Lincolnway, Suite D
Valparaiso, IN 46383

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This website provides information related to the subjects covered. Before making any financial or legal decisions, a professional should be consulted.