Atwater Village – Life insurance expert Mark Simon (California Insurance License #0E41454), of , recently helped a client transfer their dormant 401k into an insurance-based investment vehicle that combined market growth potential with no market loss potential. The switch provided Mark’s client with financial stability and peace of mind, creating a solid plan for retirement savings.
The client in question was a music industry professional in her late thirties. She had a 401k from a previous job, but had stopped contributing to it following a career move. She was concerned she would lose money from her 401k, both due to market risks, and because she was no longer contributing to the fund, as it was with her previous employer, while still incurring fees. As her concern about exposure to market losses grew, she looked for an alternative that would preserve investment upsides while minimizing downsides.
Mark Simon designed a product which included market growth potential with no downside risk. If the market index strategy on which the product is based goes up on a point to point basis, then her account value goes up. If, however, the strategy chosen went down on a point to point basis, her money is safe from losses, simply experiencing 0% growth. Additionally, when the client retires, she will enjoy pay out installments that will not end until her passing, similar to a pension or Social Security. Furthermore, Mark designed a solution which the pay outs can increase even after she starts to receive them.
Mark Simon, principal at , protects and preserves retirement nest eggs. Many of the products he prepares provide tax free growth and distribution. He specializes in: IRA distributions, section 101A of the Internal Revenue Code, estate distribution strategies,and multigenerational IRA plan development. For more information, or to schedule a consultation, contact Mark via phone at or via email at [email protected].