Your Retirement and Caregiving for Aging Parents

Retirement Planning: "Either we learn from what our parents did right or maybe we learned from what they didn't do right."— Michelle Alleman   In this episode of Life Happens with Kim Hegwood, we explore the various benefits of life insurance in retirement planning. We cover different programs offered by Alman Group and how they can help one plan for retirement. The discussion includes how life insurance can play different roles in retirement planning, including long-term care money alongside the policy. We also consider the importance of planning and budgeting for retirement goals like traveling. Taxes are a prevalent concern, and we offer ways to reduce taxes, including the use of tax-free products available through IRS code 77. Our guest speaker shares her story of becoming a cancer survivor and her passion for helping families plan for their future. We end the episode with tips on avoiding long-term care and life insurance needs and the importance of obtaining these products when young and healthy to reduce costs.   [00:02:15] Learn from family experiences, be prepared for retirement, a personal story of career change after parents' death. [00:03:37] Individual opportunities require clarity and exploration of available options. Education can help preparation. [00:04:34] Preparation is vital when caring for elderly parents. [00:04:46] Uncertain future for Social Security at age 65. [00:05:13] Prepare for retirement and avoid outliving your savings. [00:06:22] Focus on fixed income sources for retirement, access to other sources, and potential tax changes. [00:08:03] Tax-free retirement options are available to regular people but are often unknown. [00:08:20] Helping people make informed decisions for their retirement goals and budgeting for expenses like travel. [00:09:57] Tax-free options like Roth IRA have limitations. IRS code 77.2 offers tax-free products but requires medical qualification and long-term investments. No quick retirement program exists.   How to Contact Michelle [email protected] 281-384-3855 Virtual Business Card Link (all Social Media links are included here): https://www.allemanfinancial.com/micheleacard   Bio: Michelle Alleman is a cancer survivor who was diagnosed with leukemia at the age of 57. Despite being a healthy and active person, Michelle faced this unexpected challenge with courage and grace. Her experience with cancer has even strengthened her passion for helping families in need, a role she has been dedicated to for the past 20 years. Michelle has been happily married for 35 years and going strong. She looks forward to sharing more of her story and inspiring others with her resilience. She is a financial services expert that has dedicated the last 20+ years to helping families, nationwide, navigate financial success. As Co-Founder of Alleman Financial, along with husband Mike, she has helped thousands of individuals prepare for the unexpected. In 1988, Michele received a bachelor’s in accounting from University of Southern Louisiana (now University of Louisiana). She is often referred to as the “cyborg” of her industry due to her tenacity and resilience. It has become her mission to educate her clients on retirement planning and protecting their hard-earned money/assets.   _____________________________________________________________________ Contact Kim Hegwood- Elder Law Attorney Website: https://yourlegacylegalcare.com Instagram: https://www.instagram.com/yourlegacylegalcare/ Facebook –https://www.facebook.com/YourLegacyLegalCare LinkedIn-https://www.linkedin.com/company/yourlegacylegalcare/ YouTube- https://www.youtube.com/@yourlegacylegalcare   Your Legacy Legal Care 1150 Clear Lake City Blvd., Suite 100 Houston, TX 77062 (281) 218-0880