Niki Baron - Independent Insurance Agent

11/04/2023

Oh this clever cat.

05/04/2021

HAPPY TEACHER APPRECIATION DAY!
Thinking of you this special week. We realize that teaching is often a thankless job, and we see how you pour your heart and soul into daily lessons. Your passion is inspiring as well as your hard work and sacrifice. I help teachers get to the retirement the so deserve with setting up their 403b and 457b's. There are many changes and you may be eligible for an upgrade. Contact me for a free pension review!
Thank you for making our world a better place for our children!

03/29/2021

So here you are a Teacher. You sign a contract, create lesson plans and now you have CalSTRS retirement. You are in the break room and you overhear another teacher talking about something called a 403(b). There's a company that comes to our benefits fair every year. I bet they can help you. So, you go to the fair and you sign up for your own 403(b) contributing $200 a month, which is a lot for you at the time.

Time passes... you are busy with your personal life and career. Occasionally, someone comes out to the school or the benefits fair and wants to talk to you about retirement planning but you already you are not ready and besides, you already have a 403(b).

Skip ahead. You only want to teach at most, 5 more years and you want to know your options. So you attend a CalSTRS seminar and listen. Because ideally you would like to retire now at 55.

So, you want to know if you retire right now at 55, earning $110,000 per year from XYZ school district, what will you receive from CalSTRS?

At age 55, you will receive $46,200 per year, $3,850 per month before taxes. 42% of your income.

CalSTRS tells you on their website that you will need at least 80% of your income to live comfortably.

What about your 403(b) you've been putting away $200 a month away for the last 30 years. Surely it must be worth something. And it is, it's worth $300 a month pre-tax. So now your retirement income $49,800 or 46%.

You meet with CalSTRS and are told that if you to go age 60, instead of $46,200 per year you will receive $66,000 a year or $5,500 before taxes. Throw in your 403(b) and you now receive 63% of your income.

You have now worked 5 years longer and you are still short of your goal.

And it doesn't have to be that way. No one ever told you that if you had just contributed a little bit more each year, as little as $25 each month every year, you would have been able to retire on your terms. No one ever told you that there was a "time bomb" called the "GAP" hiding inside of CalSTRS.

So what now? Well, it's never too late to find out where you are, where you need to be, and the best plan to get there.

Schedule your no obligation pension review with me today!

02/09/2021

If you are planning to retire within the next 10 years, after decades of working, you may finally see retirement on the horizon. But now isn’t the time to coast, and you should consider taking these steps to enjoy a comfortable retirement lifestyle. Examining your income in advance of your target retirement date gives you time to make necessary adjustments. Start by envisioning a realistic picture of the financial resources you may need to support your plan. In this blog, we discuss a step by step plan to retire in 10 years.

Planning to retire within the next 10 years, after decades of working. In this blog, we discuss a step by step plan to retire in 10 years...

02/04/2021

RMDs distribution is the amount of money that can be withdrawn from the traditional IRA (Individual Retirement Accounts). This is done by the owners, and the qualified retirements plan participants who are eligible based on retirement age.

RMDs distribution is the amount of money that can be withdrawn from the traditional IRA. This is done by the owners, and the qualified retirements plan...

02/03/2021

The Answer is Yes: Social Security benefits are commonly available. However, whether you need to pay burdens on your Social Security benefits relies upon your pay level. If you have different wellsprings of retirement pay. For example, a 401(k) or low maintenance work. At that point, you ought to hope to pay annual assessments on your Social Security benefits.

Social Security benefits are commonly available. Whether you need to pay burdens on your Social Security benefits relies upon your pay level...

12/01/2020

Some people don’t know how they can save more for their retirement. The best way to do this is by introducing an annuity in your retirement income plan. Annuities can help you save from tax benefits, and have other perks as well. There are many annuity types provided by insurance companies. You don’t need to look at different websites to search for every annuity type. In this article, you will learn about different types of annuities in retirement income and how they can benefit you in the long term. 5 types of annuities are

Some people often confuse how they can save for retirement. The best way to do this is by introducing Annuities in your retirement income...

11/30/2020

Whether you are near your retirement age or just starting your career, sometimes your savings, retirement plans, and finances may make you anxious. As a result, you start looking for the right lifetime income products in addition to your retirement plans. An annuity is one such lifetime income product that will help you financially secure yourself in retirement investment. Originally annuities were designed for people who were retiring and, therefore, needed a fixed monthly income. So, why not add it to your retirement plans? If you are planning to add annuities to your retirement investment, here is everything you need to know

An annuity is one such lifetime income product that helps financially secure in retirement investment. If you are planning to add annuities...

11/24/2020

Planning for retirement is a multistep process that evolves over time. To have a comfortable, secure, and fun retirement there is a need to build a strong financial cushion. Planning for retirement starts with thinking about your retirement goals and how much time it will take to meet those goals. Also, retirement is not as easy as it may sound. You also have to consider health insurance. This article will give you an insight into different plans and ideas that should be considered before retirement

Planning for retirement starts with thinking about your retirement goals. Here we provide you the best guide planning for your retirement...

11/23/2020

A progressive taxation structure is one that imposes a lower tax rate on low-income earn compare to higher-income earners. The rationale behind this is that people who have a lower income will be able to spend a greater percentage of their income to maintain their standard of living instead of paying hefty taxes. Those who are richer can typically afford the basic necessities in life and therefore they can be subject to higher tax rates. The tax system of the United States is basically considering a progressive nature

A progressive taxation structure is one which imposes a lower tax rate on low-income earners compared to higher-income earners. To maintain their...

11/20/2020

You might not think about it now, but in the future, the chances are high that you may need some help in taking care of yourself. How will you pay for your medical needs? You can buy long-term insurance to prepare yourself for any medical mishaps. Long-term insurance plans cover those areas that regular health insurance doesn’t pay attention to. This includes assistance with routine or daily activities like dressing, bathing, sanitary services, laundry, and many basic needs. Long-term insurance covers the cost of necessities when you have any disease or disorder. Most long-term care insurance policies will help you pay for services like

You can buy long-term care insurance to prepare yourself for any medical mishappenings. Long-term care insurance plans cover those areas...

11/17/2020

Believe it or not, a Roth IRA is an excellent way to save your money for your retirement years. This saving account allows your investment to grow tax-free. A Roth IRA is similar to a Traditional IRA, however, the only difference between the two is how they’re taxed. Roth IRAs’ contributions are not tax-deductible; but, it allows you tax-free withdrawals of your money upon satisfaction of certain conditions. With traditional IRA deposits, you get a tax deduction on your contribution but you have to pay at the time of withdrawal of your money. Of course, like other tax-advantaged retirement accounts, ROTH IRA has some specific rules which you need to know for 2020

There are some rules regarding your ability to contribute to a Roth IRA. If you earn the income above the income set by the IRS...