Taking Care of Yourself & OthersTaking Care of Yourself & OthersHFMA Women’s Session

April 16 2015April 16, 2015

Presented by:h l ® l d *Christy Barilotti, CFP ®,Financial Adviser *

Barilotti Wealth Strategies, LLC.

1819 JFK Blvd. Suite 360,

Philadelphia, PA 19103

(215) 964 9863(215) 964-9863

Christy@barilottiws.com

www.barilottiws.com

* Financial Adviser offering investment advisory services through Eagle Strategies LLC, A Registered Investment Adviser Christy Barilotti is an Agent with New York Life Insurance Company Christy Barilotti is a Registered

www.barilottiws.com

www.facebook.com/barilottiws

Adviser. Christy Barilotti is an Agent with New York Life Insurance Company. Christy Barilotti is a Registered Representative offering securities through NYLIFE Securities LLC (Member FINRA/SIPC), A Licensed Insurance Agency, 1819 JFK Blvd. Suite 360, Philadelphia, PA 19109.

Barilotti Wealth Strategies LLC is not owned or operated by Eagle Strategies LLC or its affiliates.

Ab YAbout You…

12 years out of the workforce to care for children oraging parents 1

7 out of 10 women will outlive their male counterparts7 out of 10 women will outlive their male counterpartsby 15 years 2

Average women is widowed at 56 and lives 20 more years without a spouse 2without a spouse 2

30% of women age 65 receive a pension 4

76% of married women are eventually widowed 276% of married women are eventually widowed

70% of nursing home residents are women 5

Women who were 65 in 2011 can expect to live an additional 20 years.4

1 www.caregiver.org/caregiver/jsp/content_node.jsp?nodeid=892 2. http://www.womans-connection.com/af_finance.htm. 3. Social Security- Vital t#74643D4 http://www.ssa.gov/pressoffice/factsheets/women.htm 5 www.ssa.gov/pressoffice/factsheets/women.htm

E l S d R i PlEmployer Sponsored Retirement Plans

401k

403b403b

Profit sharing

Deferred compensation

Company stock (NUA)

I di id l R i PlIndividual Retirement Plans

Roth IRA$5 500 contribution per year

Traditional IRA

$5,500 contribution per year $5,500 contribution per year ($6,500 if you are over 50)

No mandatory distribution age

, p y($6,500 if you are over 50)

Mandatory distributionsby 70 ½ g

Not tax deductible

Tax deferred growth

T f i hd l

y

Tax deductible

Tax deferred growthTax free withdrawals

Income Phase outs Taxable withdrawals

Contribution Limits if you have an employer p ysponsored plan

Neither Barilotti Wealth Strategies nor New York Life Insurance Company, or its agents, provides tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.

T D f d Al iTax Deferred Alternatives

Annuity

FixedFixed

Variable

Supplemental Life Insurance for Retirement PlanningSupplemental Life Insurance for Retirement Planning

Tax Deferred Growth

Tax Free Withdrawals *

• Withdraws will reduce your cash value and death benefit

Neither Barilotti Wealth Strategies nor New York Life Insurance Company, or its agents, provides tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.

How Do You Make Your Assets Last Y Lif i ?Your Lifetime?

4% withdrawal rate?

G d lif i i iGuaranteed lifetime income annuity

* Guarantees based on claims paying ability of the issuer on the actual slide.

A Y P i Y lf?Are You Protecting Yourself?

Protect yourself like a business

IInsurance

Legal documents

IInsurance

Health insurance

HSA (H lth C S i A t )HSA (Health Care Savings Accounts)

• Works with the High Deductible Health insurance plans

• Save up to $3 350 for an individual/$6 650 a family (55 andSave up to $3,350 for an individual/$6,650 a family (55 and older can save an extra $1,000- $4,350 for an individual/$7,650 family).

• F nds ithdra n for non q alified medical e penses ill• Funds withdrawn for non-qualified medical expenses will be taxed at your income-tax rate, plus 20% if you're under 65. Withdrawals for “qualified medical expenses” are free from federal income taxfrom federal income tax

• Contributions are 100% tax deductible from gross income.

IInsurance

Disability insurance

Group short and long term disabilityGroup short and long term disability

Salary only protected?

M IMore Insurance

What is “Long-term care”?

Almost 70% of people turning age 65 will need long-term p p g g gcare at some point in their lives.

•Many people think the phrase “long-term care” refers to an insurance policy While insurance may be part of youran insurance policy. While insurance may be part of your strategy, long-term care encompasses everything from long-term services and supports and finance, to where you live and how you will navigate the myriad of legal familylive and how you will navigate the myriad of legal, family, and social dynamics along the way.

L l DLegal Documents

Will

Li i illLiving will

Health care proxy

Durable Power of Attorney

Trust

Blended family?

Neither Barilotti Wealth Strategies nor New York Life Insurance Company, or its agents, provides tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.

Diffi l Di iDifficult Discussions

Telling your family your desires

A ki b h i fi i l i iAsking your parents about their financial situation

Talking to your children about your plans

Talking to your spouse about planning in case hepasses away

C i i h lf i f diConversation with yourself in case of divorce

N Wh ?Now What?

Review notes from today

G h d l hGather your statements and analyze them

Make an action checklist

Follow up on your checklist!

G i D dGetting Dressed