Having a 2nd chance at making a major retirement decision can be a great opportunity.
Grand Blanc, MI (PRWEB) August 30, 2012
“Having a 2nd chance at making a major retirement decision can be a great opportunity,” says Rick Barnett, President and CEO of Barnett Financial & Tax in Grand Blanc, Michigan. Barnett and his team have decades of experience, particularly with “Big 3” retirees. Their offices are located in Genesee County near Flint, the birthplace of General Motors. General Motors is in the final phase of its first wave of buyout offers, this most recent action impacted over 42,000 salaried retirees. Barnett Financial & Tax recently dealt with countless white collar G.M. retirees who were facing the same decision that Ford salary retirees are now facing. Rick and his team were able to crunch the numbers on a case by case basis and reach a level of certainty that each client was making the right choice for a clear path to retirement preparedness.
With Ford now making a similar offer to over 98,000 and of its salaried retirees and HP, EDS and many others likely to follow suit; Barnett Financial & Tax is expertly poised to help those retirees make the right decision too. Under the proper circumstances taking the buyout is an opportunity to take control of an earned benefit that can greatly affect a family. Buyout offers may allow a retiree to control taxes, maintain a high quality standard of living and particularly to leave money behind that would otherwise have stopped at the death of the pensioner. The changes brought about by an unexpected buyout offer, new tax codes affecting pension, and changes in the way estates are taxed at death are now annual occurrences. These types of major adjustments are largely beyond the control of the people and families whose daily lives are immediately affected. This external turbulence gives credence to Barnett’s theory that preparing for retirement is an ongoing process whether from a tax, estate or financial standpoint.
Barnett Financial & Tax, through its most recent experience with the GM retirees, knows that there is no one right answer to the buyout question. Each retiree has a unique situation and requires individualized treatment just like one would receive from a doctor. Multiple factors come into play regarding whether the continued pension or lump-sum buyout now being offered by Ford makes the most sense. Longevity, marriage, other investments, household budget, Social Security, taxes and various other considerations have to be carefully weighed before the Ford retirees will be able to make an informed decision. In what is sure to be a monumental financial and family choice, consulting the right firm during this second chance at being prepared for retirement is certainly crucial.
About Barnett Financial & Tax
Barnett Financial & Tax, Located in Grand Blanc, Michigan provides a team of highly qualified professionals, with backgrounds in Tax, Estate & Elder Law, accounting, and financial planning, who provide complete financial services for their clients. Further information about Barnett Financial & Tax can be found at http://www.BarnettMRPG.com.
About Rick Barnett
Richard A. Barnett is a Financial Planner with Designations as Certified Estate Planning Professional (CEPP), Christian Financial Consultant & Advisor (CFCA) and has a Master of Estate Planning (MEP).
Mr. Barnett has been quoted over the past 20 years in the Flint Journal, the Grand Blanc View and has had appearances as a financial authority on local channels WJRT TV-12, WNEM TV-5 and WEYI TV-25. Rick can be heard weekly as host of the "Barnett Financial Hour" Thursday mornings at 8am eastern time on Supertalk 1570am or streaming live at http://www.supertalk1570.com. Also Mr. Barnett has been asked to speak on various topics of tax, investments, estate planning, etc from General Motors, Delphi, Genesee County, Hurley & Genesys Medical Centers, Michigan Association of Christian Schools as well as dozens of other Corporations, Unions, Churches and Associations.