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Financial Services

To develop a personalized Financial Independence Roadmap, it's important for your financial professional to see a complete, 360-degree view of your financial picture, including how your retirement assets are integrated and work with one another. In addition to traditional market-driven strategies, our financial strategies and asset management services include the use of insurance products, such as annuities, to help you meet your financial goals. We also work in concert with tax professionals and attorneys in our network to advise you on specific aspects of your financial strategy.

At Lord and Richards, we incorporate the following services into your personalized Financial Independence Roadmap:
  • Retirement Income Strategies
  • Wealth Accumulation and Protection

  • IRA & 401(k) Rollovers
  • Life Insurance
  • Tax Mitigation Strategies 

  • Long-Term Care Strategies
 
In addition, we can refer you to professionals who provide the following services:
  • Trusts
  • Probate 
  • Charitable Giving
  • Estate Planning

  • Tax Planning 
  • IRA Legacy Plannning
Your investment advisor is not permitted to offer, and no statement contained herein shall constitute, tax or legal advice. You should consult a tax or legal professional on any such matters.

Retirement Income Strategies

Retirement income strategies are not just for the wealthy. As retirement nears, the traditional strategy has been to move growth-seeking products to more conservative, fixed-income products. According to a recent study, for a married couple age 65 there is now a 50 percent chance that at least one spouse will live to age 94.1 This means that you may need to plan for your retirement savings to potentially last 25 to 30 years.

One drawback to a longer life is the greater possibility of outliving your savings — creating all the more reason to develop a retirement income strategy designed to last a longer lifetime. Sixty-one percent of Americans surveyed said they were more afraid of outliving their assets than they were of dying.2

A significant loss in the years just prior to and/or just after you retire could negatively impact the level of income you receive over the course of your life. In fact, if a loss occurs earlier in life, there is also the chance that you may have more time to recover (versus a loss occurring later in retirement). Why? Simply because a smaller pool of assets is left to sustain you throughout your retirement years, and your assets may not have as much time to recover.

As part of your personalized Financial Independence Roadmap, we can help you design a guaranteed* retirement income strategy that incorporates insurance and annuity vehicles to create opportunities for long-term growth as well as guarantee* income throughout your retirement.

1 RD Marketing Group. 2013. “AG Secure Lifetime GUL with Lifestyle Income Solution.” Prepared by Ernst & Young Insurance and Actuarial Advisory Services practice (analysis uses the Annuity 2000 mortality table with Scale G2 mortality improvements).

2 Insured Retirement Institute. December 2012. “State of the Insured Retirement Industry: 2012 Recap and a 2013 Outlook.

Guarantees are backed by the financial strength and claims-paying ability of the issuing company and may be subject to restrictions, limitations or early withdrawal fees. Annuities are not FDIC insured.


Wealth Accumulation and Protection

In today’s turbulent market environment, protecting and growing your money can be a tremendous challenge.

The longer you invest, the more potential your money has to compound interest. However, sudden market downturns can cause setbacks that may be difficult to recover from, especially during your retirement years. Following the rule of 100, we recommend investing a percentage of your assets approximately equal to your age in more conservative instruments such as cash, high-quality bonds, certificates of deposit, fixed annuities and other bank or insurance-backed instruments.

However, in today’s interest environment, it may also be necessary to look for alternatives to some of the traditional low-interest investments so that your portfolio remains safe but also has the opportunity to grow and accumulate. At Lord and Richards we specialize in finding growth opportunities within the traditionally safe field of investment choices. Some of these vehicles protect or guarantee* your principal, while participating only in the upward move of a stock market index, and never in the downward move of the index. These vehicles include market-linked certificates of deposit, the cash value of indexed life insurance and fixed indexed annuities.

Additionally, for the remaining portion of your assets appropriate for growth-oriented vehicles, we will develop your personalized Financial Independence Roadmap using tactical management principles that demonstrate a willingness to move to cash during periods of extreme market volatility.

* Guarantees are backed by the financial strength and claims-paying ability of the issuing carrier or, when offered by banks, by the Federal Deposit Insurance Corporation.


Tax Mitigation Strategies

Rising taxes may be a concern for many individuals in or near retirement. It may be important to incorporate tax planning into your financial decisions.

Investing in or purchasing a tax-deferred vehicle means your money can compound interest for years, free from income taxes, potentially allowing it to earn interest at a faster rate. Few financial vehicles avoid taxes altogether. Insurance products such as annuities only allow you to defer paying them until you withdraw funds — when you may be in a lower tax bracket.

In addition, we incorporate strategies that can potentially eliminate certain future taxes such as Roth IRA’s, municipal bonds, certain kinds of trusts developed by our legal professionals and life insurance vehicles designed to accumulate and distribute funds without taxation when properly structured.


Long-Term Care Strategies

As the oldest baby boomers begin to wind through their 60s, one of the biggest concerns may not be outliving income, but outliving good health.

For retirees, home health care can cost $50,000 or more per year1, and nursing home care can run as high as $80,0002 per year. Does your retirement income strategy account for this kind of possibility? Would you be prepared for twice that amount as a married couple?

Considering that you could have to reduce your financial means before Medicaid will pay for long-term care and neither your employer group health insurance nor major medical insurance will cover long-term care, you may want to consider planning ahead for these potential expenses.

We can help evaluate your situation and determine if incorporating a long-term care solution into your personalized Financial Independence Roadmap is the right move to help you feel confident in your financial independence.

1 GenworthFinancial. March 2015. “Genworth 2015 Cost of Care Survey: Home Care Providers, Adult Day Health Care Facilities, Assisted Living Facilities and Nursing Homes.

2 MetLife. November 2012. “Market Survey of Long-Term Care Costs.


Estate Planning

We can work together with our network of legal professionals to help meet your estate planning needs.

Estate planning is simply determining (while you’re still alive) where your assets should go after you die. Without a properly structured estate plan, your wishes may not be fulfilled, and there may be unintended consequences for your loved ones.

While the concept is simple, the vehicles, planning and implementation process can be rather complex. Because of estate tax laws and the emerging vehicles to help you protect and transfer your assets effectively, it’s important to work with experienced estate planning professionals who stay current in this field and advise clients on a day-to-day basis.


IRA Asset Planning

IRA accounts are one of the largest assets inherited by beneficiaries. If you don’t anticipate needing your IRA money in retirement, you may wish to consider a legacy planning strategy that potentially reduces taxes and potentially increases the payout your beneficiaries will receive upon your death.

You may want to use some of the value in your IRA to provide your beneficiary(ies) a regular stream of income while leaving the balance of IRA assets invested for tax-deferred growth. The result may yield substantially more money paid out over the course of your beneficiary’s lifetime. We can help you evaluate your financial situation to determine if IRA legacy planning could help you meet your goal of structuring a long-lasting inheritance for your beneficiaries.


Trusts

There are many different types of trusts, and they can be complex to set up and execute. However, a trust can be a very flexible and advantageous means to transfer your assets in the future. Most trusts can also provide current benefits, such as tax deferral and deductions. Unlike a will, a trust may help avoid probate upon your death. To learn more about trusts and how they may benefit you, we will be happy to work together with a qualified estate planning attorney in our network who can assist you with these issues.


IRA & 401(k) Rollovers

When you change jobs or retire, there are four things you can generally do with the assets in any employer-sponsored retirement plan:

  • Leave the money where it is
  • Take the cash (and pay income taxes and perhaps a 10 percent federal penalty if you are younger than age 59½)
  • Transfer the money to another employer plan (if the new plan allows)
  • Roll the money over into an IRA

Rolling over from one qualified plan to another qualified plan allows your money to continue growing tax-deferred until you receive distributions in retirement. We can help you determine if a rollover is the right move for you.

If you determine to cash out of an IRA or qualified plan, we can help you find suitable vehicles to help you reach your retirement income goals.


Life Insurance

When considering whether to incorporate life insurance into your personalized Financial Independence Roadmap, consider needs such as replacing income so your family can maintain its standard of living, as well as paying for your funeral and estate costs. You may also want to consider incorporating living benefits that will provide supplemental funds for your own long-term care needs even before you die. Additionally, life insurance can be a powerful way to create wealth in order to have a greater impact on your family and the world around you when you pass on. There are two primary types of life insurance: term and permanent.

Term insurance generally provides coverage for a specified period of time and pays out a specified amount of coverage to your beneficiary only if you die within that time period. In a level premium term policy, you pay the same amount of premium from the first day of the policy until the term ends. These policies generally do not include an investment component or cash value.

A permanent insurance policy, on the other hand, will remain in effect for the rest of your life so long as premiums continue to be paid. Additionally, unlike term policies, permanent policies can also be structured to allow for the accumulation of cash value that can potentially be liquid and accessible to you throughout your lifetime. A variation of these policies, called indexed universal life insurance, allows your cash value to grow by participating only in the upward movement of a stock market index without participating in the downward movement of the index.


Probate

We can refer you to professionals to help meet your individual needs.

Probate is the potentially lengthy and costly legal process that oversees the transfer of your assets upon your death. If you do not create a will or set up a trust to transfer your property when you die, state law will determine what happens to your estate. This is called intestate. Without a will or some other form of legal estate planning, there is the chance that more of your property may not go where you want it to. We can refer you to a qualified estate planning attorney in our network of professionals who can assist you in these matters.


Charitable Giving

In addition to the joy of giving to others, creating a charitable gift-giving plan may provide you with multiple tax breaks: an income tax deduction, the avoidance of capital gains on highly appreciated assets and the reduction or elimination of estate taxes on the charitable contribution upon your death.

With changes in the tax environment, there may be compelling reasons to integrate philanthropy into your financial and estate planning.

We can refer you to a qualified professional to help you decide if this is a good option for you.


Strategies for Financial Independence

To schedule a time to discuss your financial future and how we can help you to develop a Financial Independence Roadmap, contact us at info@lordandrichards.com or call us at (720) 214-6801 today!

We are an independent financial services firm helping individuals create retirement strategies using a variety of investment tools to custom suit their needs and objectives.

Your investment advisor is not permitted to offer, and no statement contained herein shall constitute tax or legal advice. You should consult a legal or tax professional on any such matters.



5 Core Principles

At Lord and Richards we believe that 5 core principles from the Bible should shape our approach to investment advice and planning:

Fear the Lord

Eliminate Debt

Manage Risk as a Steward

Provide for One Another in Old Age

Consider Your Legacy

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Investment advisory services offered through Brookstone Capital Management, LLC, an SEC Registered Investment Advisor. Lord and Richards, Inc. and Brookstone Capital Management, LLC are independent companies.

The content of this website is provided for informational purposes only and is not a solicitation or recommendation of any investment strategy. Investments and/or investment strategies involve risk including the possible loss of principal. There is no assurance that any investment strategy will achieve its objectives.

These logos and trademarks used are the property of their respective owners and no endorsement by those owners of the producer is stated or implied.

*Guarantees provided by insurance products are backed by the claims-paying ability of the issuing carrier.

The report is provided for informational purposes only. It is not intended to provide tax or legal advice. By requesting this report you may be provided with information regarding the purchase of insurance and investment products in the future.