Thomas J. Marron
Lifetime Income - Strategies & Solutions

Corona Relief:

The CARES Act (Coronus Aid, Relief, & Economic Security Act) is providing $2 trillion of economic assistance to millions of Americans through the "Economic Assistance Payments," "Paycheck Protection Program," "Payroll Support Program," "Tax Credits," etc., etc., etc. What about "Section 2022?" What can it do for you and your family?

Section 2202 of the CARES Act opened the door for you to access to your retirement savings on a very favorable basis. 

Under the new law, individuals can take up to $100,000 as a distribution in calendar year 2020, and the normal 10% early withdrawal penalty for folks under 59 1/2 is waived. The IRS clarifies that the $100,000 is an aggregate limit for all plans (you cannot take $100,000 from each plan i.e. $100,000 from a 401(k) and another $100,000 from an IRA). You'll will still owe income taxes on the money you take out, but you're allowed three years to pay the taxes - 2021, 2022, 2023.

If your circumstances improve, the new law says that you can redeposit the money you took out back into your retirement account (or another eligible retirement account) as a rollover contribution within three years.

This may be a financial opportunity for you to not only survive but thrive through these current economic challenges. Professional guidance and assistance will be critical as you navigate your way through the options, implications, regulations, pros and cons in finding what's best for you. Call for a 15 minute assessment to see if we can be your guide. 401.885.2111.

"The Chinese use two brush strokes to write the word "crisis." One brush stroke stands for danger; the other for opportunity. In a crisis, beware of the danger - recognize the opportunity." 
- President Kennedy

Crisis: Danger & Opportunity - ELGL

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At the bottom of the dotcom crash in 2002, millions of Americans had just lost nearly half of their retirement savings. Their futures became uncertain. Their retirements postponed. Their dreams placed on hold. How could so many have been so unprepared - after the longest bull market in history? More than a dotcom crash, this was a family financial crisis.

People needed help, and hope. They needed strategies to rescue and recover, protect and grow their financial future. In the summer of 2002, I entered the financial services profession. "Why," my friends asked, "This must be the worst possible time!" Perhaps, I could be part of the solution. Perhaps, I could help rebuild some of those hopes, dreams, and plans. What if I could offer financial tools and resources so people would be better prepared next time? Of course, I could. So, I began.

During the 2008 financial crisis, my clients were ready. Their lifetime incomes were secure. Their lifetime savings were safe. Their dreams and hopes intact. Their families protected. Their futures bright.

I have the privilege and responsibility of working directly for a special group of individuals and families who are committed to building the financial security and freedom essential for the quality of life they desire and deserve. Each day, I commit myself to earning their trust and fulfilling my fiduciary responsibility. As an independent advisor, I do not work for any company.
Making a positive difference in the lives of my clients and their families is deeply fulfilling. Working one-on-one to custom design action plans that focus on their highest priorities is my job. Their financial success is my goal. I love what I do.

To identify each person's unique goals, challenges and concerns, I listen to understand. Together, we build a foundation of financial fundamentals that make educated decisions possible. We co-design a plan with strategies that are in their best interests and will take them from where they are to where they want to be. With a whole-hearted commitment to "making it happen," we begin.

Our action plan is the starting point. Now, there is more work to do. Charting progress, updating goals, and improving strategies are critical to our progress and ultimate success. Communication lines are always open. I am available to those I serve.

Because income for a two-person, three decade retirement must be reliable, predictable, flexible, and tax efficient, income planning is critical and challenging work. The results impact every aspect of our lives and the lives of those we love. Transforming those challenges into opportunities is what we do.

While money is not everything, it does seem to influence almost everything. For that reason, our comprehensive approach to financial planning includes strategies to protect the family, build wealth, manage taxes, leave a legacy, preserve the estate, and make a difference in the community.


What is your Bottom Line?
Are you prepared . . . for a two person, three decade retirement?
You will find answers during your complimentary consultation - "My Retirement Income Check-up!"

Just do it - call, text, or email.

Invest in yourself, your future, your life!                   401.529.7177  (text)                      401.885.2111  (call)

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