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Retirement Resources2025-09-26T15:53:57+00:00

Rockford Retirement Planning

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Should People In Rockford Buy An Annuity To Help With Retirement?

If you are reading this article it is likely you have at least heard of an annuity and are looking for some objective clarification on the following: What is an annuity? What are the different types of annuities? Are annuities expensive? Should I consider buying an annuity for retirement? Before we get into explaining annuities if you are getting close [...]

January 30th, 2022|Uncategorized|
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Durable vs General Power of Attorney: Which is best for Retirees in Rockford?

Most people understand the concept of a Power of Attorney for health care but when it comes to finance it can be a grey area. See also: https://youtu.be/QdBQDHQrRqM   What is a Durable Power of Attorney? Here is the definition I found on Google. I think it is a really good one. A Durable Power of Attorney is one of the most [...]

January 30th, 2022|Uncategorized|
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Social Security Spousal Benefits: What Retirees in Rockford Need to Know

Social Security Spousal benefits are one of the most confusing and often misunderstood benefits when it comes to claiming Social Security. Some common questions that come up when I teach about Spousal benefits are: How Do Social Security Spousal Benefits work? Does A Wife Get Half of Her Husband’s Social Security? Can I Switch From My Social Security Benefit To [...]

January 30th, 2022|Uncategorized|
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Helpful Glossary

The Four Financial Advisor Business Models And How They Charge You

The Stock Broker

The Stock Broker business model is one where the Advisor does not charge you ANY fees at all and simply gets paid a commission for selling you a particular investment.

Mutual Fund / A Shares

Product may charge a Front end load of 3.75% to 5.75% on Average* as an upfront off the top charge in addition to annual management fees of about 1.44% per year**

Variable Annuities

Typically don’t carry a front end charge but in addition to annual management fees usually around 1% they may also charge a Surrender Charge of 6% or higher decreasing over a period of years if you take all of your money out.

Mortality and Expense Fees

Most Variable annuities also charge a fee for Life Insurance that can tack on an additional 1% per year or more on top of the other mentioned fees.

The Insurance Agent

The Insurance agent business model works very similarly to the Stock Broker Model above. The Insurance agent Advisor does not charge you ANY fees at all and simply gets paid a commission for selling you a particular Insurance Product.

Fixed Annuities

Most have a back-end surrender charge that decreases over a period of years. You only pay this charge if you take all of your money out early or withdraw more than the allowed percentage in a given year. Typically you have access to 10% without a fee.

  • NOTE: Unlike Variable Annuities Fixed Annuities typically don’t have ANY front end or ongoing annual management fees or life insurance costs built in.
  • Life Insurance: Most life insurance plans charge Front end fees and back-end fees as well as ongoing costs to cover the charge for the death benefits.

The Fee-Only Advisor

A Fee-only Advisor business model is one where the Advisor charges a fee for advice or for managing money.

The Hybrid Advisor

A Hybrid Advisor is a business model that is a blend of two or more of the business models above.

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555 S Perryville Rd, Suite 209,
Rockford, IL 61108

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Investment Advisory Services offered through Retirement Wealth Advisors, LLC. (RWA) a Registered Investment Advisor. Rockford Retirement Planning, Inc. (RRP,Inc.) and RWA are not affiliated. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision. This information is designed to provide general information on the subjects covered, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that RRP,Inc. and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney.

Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Any references to protection benefits or lifetime income generally refer to fixed insurance products. They do not refer, in any way to securities or investment advisory products or services. Fixed Insurance and Annuity product guarantees are subject to the claims
‐paying ability of the issuing company and are not offered by Retirement Wealth Advisors, LLC.

Social Security/Government Program Disclosure: Antonio Filippone of Rockford Retirement Planning, Inc and Retirement Wealth Advisors, LLC are not affiliated with or endorsed by the Social Security Administration or any other government agency MDRT Disclosure: The Million Dollar Round Table is a trade association to help insurance brokers and financial advisors establish best business practices and develop ethical and effective ways to increase client interest in financial products, specifically risk-based products like life insurance, disability, and long-term care. Annual qualification requirements include demonstrating a set annual production requirement and agreeing to a code of ethics but are not based on client experience or performance. For more information regarding the Million Dollar Round Table eligibility, please see https://www.mdrt.org/membership/requirements/. Membership in no way constitutes an endorsement from Million Dollar Round table or any client.

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To implement your financial plan, we take a hands-on approach to ensure everything is aligned with your goals. This includes rearranging your assets to match your objectives and timeline, and aligning your income plan with expected investment returns for long-term sustainability. We continually optimize and reassess the plan to adapt to any changes in your life or the market. Through ongoing monitoring and regular reviews, we help keep your financial strategy on track and responsive to your evolving needs.

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Your Financial Plan is a personalized roadmap designed to help you make informed decisions about your future. It includes income scenarios to explore how different sources of income will support your goals over time. We evaluate investment options tailored to your needs and risk tolerance. An asset timeline outlines when and how to use your resources efficiently, and a tax map helps you plan ahead to reduce tax burdens and keep more of your money working for you.

Your Financial X-Ray

The Financial X-Ray is a detailed assessment designed to give you a clear snapshot of your financial health. It includes a review of your income needs, ensuring you have enough to support your lifestyle now and in retirement. We conduct an investment risk analysis to see if your portfolio aligns with your goals and comfort level. We also look at tax impacts that may affect your income, helping you keep more of what you earn. Finally, we identify potential risks, obstacles, and concerns that could stand in the way of your financial success, so you can plan with confidence.

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