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There was a day when the local savings ‘n loan office was all anybody needed.  The time of ‘It’s a Wonderful Life’ with Jimmy Stewart.  Of course, that’s a distant memory.  We have never lived in a more complicated and hazardous financial world, where it is nearly impossible to keep things simple.  There are many areas of retirement finance that require specialized knowledge, experience and expertise. Quite frankly in today’s world, retirement certainty requires proactive planning with a trusted advisor.

PSP & Associates offers highly personalized, comprehensive services to help you plan for and protect your financial future for retirement. At PSP & Associates, our expertise spans the following services:

Financial Analysis

Recognizing that each person’s financial situation, retirement dreams and future goals, as well as potential problems and risks, are as different and unique as one cactus from another in the Sonoran Desert, PSP & Associates offers a comprehensive review and analysis of your current financial situation and existing financial plan. No “cookie-cutter” or computer-generated plans here.  Through a thorough financial analysis, PSP & Associates will clearly define your unique financial DNA – from there a detailed, customized plan will be designed to ensure you meet your retirement goals.

Retirement and Investment Planning

As retirees switch their focus from the accumulation phase of earning and saving for retirement to the preservation phase, where they are no longer working and receiving that paycheck, it is important that they realize that they must preserve what they have worked a lifetime to save.

PSP & Associates specializes in showing Baby Boomers and retirees how to increase rates of return while also protecting their retirement assets against a market downturn. Mere hoarding of the principal in ultra-safe, low or no yield investments offers no protection against inflation, no guarantee of income, no asset protection in case of severe medical or disability occurrences. “Money in the mattress”, money in CD’s is really NOT a plan at all.  By focusing on capital preservation and true asset diversification, PSP & Associates assists Baby Boomers and retirees on how to safely blend investment strategies.

You can no longer rely on Social Security to cover your retirement. People are living longer, healthcare costs are rising, non-traditional retirement plans are being eliminated, and the cost of living is increasing.

To learn how we can protect your retirement savings and develop a true diversified portfolio, please call us at (623) 544-3424.

Income Planning

One of the common pitfalls of Baby Boomers and retirees is not having a solid reliable income plan for retirement. It seems simple; take your monthly budget minus your income from your pension, social security and whatever you still need, withdraw it from your retirement savings. This is not income planning, this is living in survival mode.

When and how you withdraw money from your retirement savings is just as important as how you save and protect your money.  Withdrawal fees, penalties and taxes can take a surprising bite out of savings if drawn on prematurely or late.  You need to know the tax laws and understand the “fine print” of the financial products, investments and accounts you own – and frankly, few people ever read much of this until it’s too late and they get “zapped”.  Also, there is a right time to convert portions of idle savings into guaranteed lifetime income.  This, and the options for creating a guaranteed, certain “paycheck” every month from some of your savings needs to be discussed.  The good news is that people are living longer; the bad news is that people aren’t prepared.  Your income plan needs to protect you against out-living your savings and the rising costs of healthcare.

Tax Analysis and Strategies

Tax Reduction
Most people think if they have their taxes professionally prepared that they have their tax situation under control. If you’re not taking a step back and evaluating the types of investments you have and their tax consequences, you are probably paying more than your fair share of taxes. It is important to understand that where you invest your money and how you withdraw it in retirement can have huge implications on the taxes you pay. Without a well-coordinated tax and investment strategy, don’t assume that you have your taxes under control. 

Social Security Taxes
Up to 85% of your Social Security retirement benefits may be taxable. Many retirees are not aware of this, nor do they know how to reduce or eliminate tax on social security.

PSP & Associates can work directly with your CPA to make sure you are not overpaying taxes, and that your financial portfolio is organized in the most tax-advantageous manner possible. We can assist you with lowering your taxable income while increasing your spendable income. We also provide consultation on capital gains deferral, income tax reduction, compound-interest strategies and more.

Estate Taxes
Do you know what your tax bill will be to your loved ones?

Inheritance tax, estate tax and death duty are names given to various taxes which arise on the death of an individual.  Estate tax taxes the personal representatives of the deceased, while an inheritance tax taxes the beneficiaries of the estate. 

To learn more about our tax analysis and reduction strategies, call to schedule your complimentary consultation, at (623) 544-3424.

IRA & 401(k) Rollovers

When you change jobs or retire, there are four things you can do with the money in your employer-sponsored retirement plan:


  • Leave the money where it is
  • Take the cash (and pay income taxes and perhaps a 10% federal penalty tax if you are younger than age 59½ )
  • Transfer the money to another employer plan (if the plan allows)
  • Roll the money over into an IRA

Making the right choice is critical!

Your 401(k), IRA, pension, 403b or 457 may harbor hidden, ticking tax bombs that can rob you of a significant amount of your hard-earned savings. 

PSP & Associates can help you roll over your retirement savings accounts – thus helping you avoid unnecessary taxes, penalties, and fees – and build a comprehensive retirement plan.

Estate Planning

Estate planning is simply determining, while you’re still alive, where your assets should go after you do.  Procrastination is the leading cause of why retirees have not properly planned for retirement.  Without a properly structured estate plan, your wishes may not be fulfilled, and your loved ones could be hurt both emotionally and financially.

A simple will is rarely up to the task of protecting your legacy for your loved ones and favorite charities.  You may think you’ve “locked in” everything that is to happen with your savings, investments and assets by responsibly getting your will(s) done, but the tax man may have other ideas.  Direct transfers to selected individuals or charities can be affected through different means, often by-passing probate and taxes.  A will drawn up as a do-it-yourselfer project through an internet provider or even wills prepared by attorneys may well “hold water” – but you may not be aware of the other options and tools for control over your estate.  PSP & Associates will work with you to customize a strategy to meet your long-term goals and needs. Whether you are trying to minimize the impact of taxes or simply guarantee your heirs will receive what you originally planned, PSP & Associates will work with your or our attorneys in planning today, and with your heirs in executing future strategies.

Our analysis of your estate considers best strategies for:
  • IRA Legacy Planning
  • Life Insurance for your family’s protection in the event of your passing
  • Probate avoidance
  • Charitable Giving for multiple tax-breaks, income tax deductions, avoidance of capital gains on highly appreciated assets, and no estate taxes on your charitable gifts
To learn more about our estate planning services, please call us at (623) 544-3424.

IRA Legacy Planning

IRA accounts have become one of the largest types of assets inherited by beneficiaries. If they are structured improperly for distribution upon death the government can end up being the largest beneficiary of these accounts.

However, a properly structured IRA may yield substantially more money for your beneficiaries.

PSP & Associates can show you how to leave a legacy to your children, grandchildren, and great-grandchildren, while minimizing taxes that are due.

Life Insurance
Life insurance is an estate planning tool that can be used to provide your family with the financial security they will need in the event of you or your spouse’s passing. Whether you look to give your family an immediate source of income or to reconcile your estate, PSP & Associates can assist you in adding a life insurance component to your portfolio.

Asset Protection

As you know, life is full of surprises. There are a variety of circumstances that can happen at any time. Within a brief period, your nest egg that you’ve worked so hard to save could be wiped out by a long term illness or market volatility. There are multiple strategies and tools that may be integrated into your financial plan to protect your assets.

PSP & Associates can help you select and refine the appropriate asset protection and asset diversification strategies that will protect your retirement savings.

To learn more about our asset protection services or to schedule a complimentary consultation, please call us at (623) 544-3424.

Long Term Care

One of the biggest concerns for aging Baby Boomers and retirees may not be outliving income, but outliving good health.

Home health care can cost $50,000 or more per year (1), and nursing home care can run as high as $80,000 (2). Does your retirement plan account for this kind of possibility?

Considering that you have to exhaust virtually all of your financial means before Medicaid will pay for long-term care and neither your group nor major medical insurance will cover long-term care, it’s critically important to plan ahead and protect yourself from these costly expenses.

There are, however, many different and creative options beyond long term care that are available today to protect your estate. The key is to have a plan.

PSP & Associates can assist you and your family with long-term care planning. Perhaps you don’t need long-term care today; but being prepared for a long-term illness now can alleviate stress and associated costs in the future, whether you purchase long-term care insurance or not.

(1) Genworth Cost of Care Survey, 2010
(2) MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs, 2009

To learn more about our long term care planning services, please call us at (623) 544-3424. 

Income Security for the Surviving Spouse

Incredibly, 4 out of 10 women over age 65 who are living alone wind up entirely dependent on Social Security for all of their income.  Women tend to out-live men, some 15 years or more of widowhood is common.  But wife or husband, living alone after the loss of a spouse create new, different and additional costs and needs – such as for in-home assistance, a driver, more trips to visit family or relocation.  The unexpected, premature death of a spouse can be devastating if the spouse who passed away was receiving a pension or other income with poor survivor benefits.  Ordinary life insurance may or may not be a sufficient answer to these matters.  PSP & Associates can assist you in creating an income plan that includes the best income security for the surviving spouse.  And assures that the surviving spouse has a financial advisor already up to speed, in place, proven worthy of trust, who can be a calm competent ally in determining financial needs for the surviving spouse immediately following the death of a spouse, and after.

To learn more about providing support for a surviving spouse, please call us at (623) 544-3424

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Investment advisory services are offered through PSP Financial Services, LLC, an Arizona Registered Investment Advisor. Phillis Sax Pilvinis is also a licensed insurance agent with the state of Arizona.