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Nate Strickland

Retirement, Small Business, Insurance
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“For age and want, save while you may; No morning sun lasts a whole day--Poor Richard”
Firm:

Strickland Risk Advisors

Job Title:

Principal Agent

Biography:

Nate started his career in the insurance and financial services industry in 2015 as a comprehensive financial planner. After gaining that experience he decided to get into the “family trade” and become an insurance specialist instead of a financial generalist. As a fourth generation funeral service and life insurance agent he seeks to be an advocate for the life insurance industry.

Nate has found a niche working with small business pension plans, life insurance, and funeral expense planning.

As a Texas A&M graduate he supports Aggie Athletics and the Corps of Cadets. He enjoys spending time with his wife Mara and his sons Lucas, Patrick, and Simon. Nate also likes following Astros baseball.

Nate is licensed in Life, Accident, Health and HMO and General Lines Property & Casualty by the Texas Department of Insurance.

Education:

BA, Administration, Texas A&M University
Graduate Courses, Finance, Texas A&M University-Commerce

Disclaimer:

This website profile  is provided for informational purposes only and should not be considered tax or legal advice. You should consult your tax, legal, or accounting professional regarding your individual situation. The website profile should not be considered financial planning or investment advice.

All Answers
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    Retirement, Retirement Savings, Investing, Retirement Plans
What are the most practical retirement or investing options to consider when beginning investing late in life?
0% of people found this answer helpful

Planning for their retirement should involve more than optimizing investments. This is part of it but there is way more involved. I don't know their income level, debt, employer info such as 401k or pension, or current life insurance. But I'll share with you some ideas:

1. If married, whole life insurance. Are they in decent health? This will be the most practical thing you can do assuming they have no or minimal coverage in force. Term life won't work here because you need something that will pay out not if they pass away but when. The policy shouldn't be structured for cash value accumulation but rather the death benefit. Not to be negative here but they have missed the 30-40 year window for exponential growth. It is time to realize that if they are married the surving spouse will not have much money if they live into 70s and 80s. Consider purchasing a limited pay whole life policy on each so that the death benefit can provide some supplemental money once in retirement. At 55 the premiums for a modest policy should still be reasonable but will continue to increase drastically with each year. If they are not married you want to make sure they will have their burial expenses covered at a minimum unless you want to be responsible for that.

2. The good news is the IRS allows catch up contributions. They can increase the amount they can save based on their age. If they are employed and their employer offers a 401k they should take advantage especially if there is an employer match. The same catch up contribution rule is true for both traditional and Roth IRAs

3. Are they in debt? Retiring higher interest debt will be crucial.

4. Can they work longer and delay Social Security to maximize monthly benefit?

April 2018
    401(k), Insurance, Life Insurance
Is whole life insurance a good option for my family of three if I have multiple retirement accounts and insurance policies already in place?
100% of people found this answer helpful
April 2018
    401(k), Choosing an Advisor, IRAs, Real Estate, Life Insurance
Should I get indexed universal life insurance (IUL)?
50% of people found this answer helpful
April 2018
    Debt, Estate Planning, Taxes, Insurance, Life Insurance, End of Life
What are the tax implications of a life insurance policy loan that is still outstanding when the insured passes away?
100% of people found this answer helpful
April 2018
    Investing, Insurance, Life Insurance, End of Life
Should I consider getting acceleration life insurance or whole life insurance?
April 2018