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Are You Different Than Most People Thinking Of Retiring To Florida?
There are many reasons Florida continues to be one of the most popular retirement destinations in America. With more than 1,250 golf courses, 1,800 miles of coastline, tropical temperatures and one of the lowest tax rates in the country, Florida lures retirees like no other state. Whether you're currently a Floridian or you're thinking of retiring to one of the many havens in Broward, Palm Beach or Collier Counties, like most retirees across the country, there are various realities you'll need to face.
To begin with, as with most planning regardless where you're located, Florida retirement planning requires getting answers to common questions most retirees face including:
- What’s the best way to keep my money growing without losing it?
- How can I get the most amount of income with the least amount of risk?
- How can I make sure I don’t outlive my money?
- How can I minimize taxes for my beneficiaries and myself?
Getting quality, reliable information to the above questions and many more is the first step towards a retirement that lives up to your expectations. A reliable financial planner should also help determine the most efficient mix of investments (stocks, bonds, exchange traded funds, mutual funds, annuities, etc.) that best matches your objectives given your current stage of retirement.
For example, if you’re like one of the many baby boomers out there getting ready to retire, you should most likely be thinking about how to maximize income from the nest egg you’ve accumulated during working years.
In later stages of retirement, the financial issues are more likely to focus on asset preservation as well as the most efficient means of transferring your estate.
Florida retirement planning should also include attention to various forms of insurance as well. For example, a quality financial advisor should also discuss the pros and cons of using life insurance in retirement as well as whether or not Long Term Care should be included in the plan. With the Department of Health and Human Services estimating that at least 60 percent of people over age 65 will require some form of long-term care support, it's obvious this form of insurance should at least be considered. Unless you're a high net worth individual or someone willing to bet against the odds, Long Term Care insurance might very well play an integral role in your retirement plans.
What else should you be looking for in Florida retirement planning advice? Many experts suggest working with an independent financial planner, someone that is not only able to suggest the right mix of investments that best suits your needs, but one that provide choices from many providers, not just a limited selection. In addition, make sure the financial planner you select will take as much time as necessary to explain all investment options as well as the advantages and disadvantages of each. A planner that doesn't take the time to make sure an investor understands these critical points is simply not doing you the justice quality planning requires. With the right preparation and well rounded quality advice, your retirement years can be everything you've ever dreamed of. For quality Florida retirement planning advice, be sure to contact Alan Haft and his partners today.