Search Our Site

Home Page
Meet our Staff
Little Rock Office
Conway Office
Rogers Office
Sherwood Office
Frequently Asked Questions
Helpful Tips
Helpful Tools
Insurance Resources
Auto Insurance
Business Insurance
Health Insurance
Home Insurance
Life Insurance
Long Term Care
Motorcycle Insurance
Retirement Planning
Medigap Insurance

Note: Our Site Directory includes links to all our information.

Little Rock Office
1111 S. Bowman, Ste B-4
Little Rock, AR 72211
(501) 224-6666
(888) 214-3149
FAX (501) 224-0477

Conway Office
269 Hwy 65 North
Conway, AR 72032
(501) 327-4666
(888) 563-5656
FAX (501) 327-4684

Rogers Office
2894 W. Walnut Ave. Ste A
(479) 633-0505
(877) 633_0505
FAX (479) 633-9595

Sherwood Office
8210 Hwy 107 (JFK)
Sherwood, AR 72120
(501) 392-0300
(866) 861-8368
FAX (501) 392-0302

Click these links for more information about:

Term Life Insurance
Whole Life Insurance
Universal Life Insurance

Retirement Planning

Retirement Index
Retirement Strategies
Medicare Part A
Medicare Part B
Medicare Supplements
Annuities

Why do we earn money? The most obvious reason is to provide ourselves with the necessities of life: food, clothing and shelter. In our early years we cannot wait to get out of mom and dad's house, get a job and be on our own.

None of us, however, wants the undertaker to pick us up at work! Actually we would really like our golden years to be -- well, golden. We want them to be free from financial worry, and we'd really like to be able to afford "things" as our reward for reaching the golden years

Social Security is not designed for comfortable living. Did you read our section about how Social Security calculates your benefits? Many financial planners suggest that you will need 80 - 90% of your working income to maintain your lifestyle when you retire and are on Medicare. Be sure to look at the charts showing the 2006 details about Medicare Part A and Medicare Part B.

According to the 2004 Sources of Income Report prepared by the Social Security Administration, Social Security provides 39% of typical income for a current retiree. Qualified Retirement Plans like an IRA or 401K provide only 19%. Other Assets provide 14%, Other Sources 3% and Earnings provides 25%. Earnings?

When people think of retirement planning, the normal tendency is to think stock market and investment securities. That is certainly a very viable option, especially when coupled with life insurance.

Stocks, bonds and other investment securities are usually dependent upon a time factor. You spend years accumulating a proportioned investment portfolio in order to provide a more comfortable retirement for yourself and your family. But -- what if -- your life is cut short by premature death? None of us wants to think about that possibility, but it is a possibility. The time gap in your investment planning can be covered with life insurance.

Suppose you receive an inheritance of some sort. It possibly could be the death proceeds of someone's life insurance policy. A growing number of people are using those types of financial windfalls to purchase annuities. A Gallup Poll showed that 60% of annuity purchasers have a total family income of less than $75,000 per year, and that 40% have a total family income of less than $50,000. Click here to read more about annuities.

Medicare Supplement Insurance is another retirement strategy that is used by more and more people. You should know that Medicare changed in 2006. There are more options than the original Part A, Part B program. Medicare Advantage Plans have been added, and there are several choices among different kinds of Advantage Plans. To help you better understand, you can click here to download a pdf version of the 104-page official booklet from Medicare.

The 2006 changes in the Medicare program also affected MEDIGAP policies, another name for Medicare Supplement Insurance Plans A - J that have been around for quite some time are still available. Plans K and L have been added to give you more choices.

For more information about how McGhee Insurance Agency can help you plan for your retirement years, click on the links in the left column.

Back to Top of Page