Protection, Retirement, and Legacy Planning: Where to Start

Most families try to do financial planning in pieces — a life insurance policy here, a 401(k) there, maybe a will when they finally get around to it. The result is a collection of products that don't actually work together.

A better approach is to think in three stages, in order: Protect, Grow, Preserve. Each stage builds on the one before it.

Stage 1: Protect what you've built

Before you focus on growth, make sure a single bad event — a death, disability, or major illness — can't undo years of progress. This is the foundation.

Core protection checklist:

• Life insurance equal to 10–15× the household's income (more if children are young)
• Disability income coverage to replace 60–70% of income if you can't work
• Critical illness or living benefits that pay out for cancer, heart attack, or stroke
• An emergency fund of 3–6 months of expenses in a high-yield savings account

Skipping this stage is the most common — and most expensive — financial planning mistake.

Stage 2: Grow toward retirement income

Once your family is protected, the focus shifts to building income you can't outlive. The goal isn't a number — it's a paycheck.

The retirement income pyramid:

1. Guaranteed base — Social Security, pensions, fixed index annuities with income riders. This covers essential expenses.
2. Growth layer — 401(k), IRA, brokerage. This funds discretionary spending and inflation adjustments.
3. Tax-advantaged buffer — Roth IRA, indexed universal life (IUL) cash value. This creates flexibility to manage tax brackets in retirement.

The mix between these three depends on your age, tax bracket, and risk tolerance — but every retirement plan should have all three layers.

Stage 3: Preserve and transfer wealth

The final stage is what most families never get to — making sure what you've built actually reaches the next generation, tax-efficiently and on your terms.

Legacy essentials:

• An up-to-date will and durable power of attorney
• A revocable living trust if you own real estate or have minor children
• Beneficiary designations on every retirement account and life insurance policy (these override your will)
• A permanent life insurance policy to create an income-tax-free legacy
• A written plan for heirs — not just money, but values and intentions

Permanent life insurance is uniquely powerful here because it passes income-tax-free to beneficiaries and bypasses probate.

Where families typically get stuck

• Buying products without a plan. A great policy in the wrong stage is still a mistake.
• Treating planning as a one-time event. Marriages, births, business changes, and tax law updates all require a refresh.
• Working with siloed advisors. Your insurance, investments, and estate plan should reinforce one another.

The 90-minute starting point

You don't need to figure this all out alone. Most families can map their entire Protect / Grow / Preserve picture in about 90 minutes with a licensed advisor:

1. A 20-minute discovery call to understand your goals
2. A 30-minute data review of what you already have
3. A 40-minute strategy session to build the gap plan

At Artis Insurance Group, that first call is always free and no-pressure.

Book your free strategy call or download the Life Insurance Guide to start with the protection stage.