Retirement planning is
essential to securing a level of comfort for you and your family when you retire. We can
help you plan for your retirement years with a wide variety of investment vehicles and
insurance products. IRAs
Individual Retirement Accounts were established by the federal government to encourage
people to save for their retirement by providing a variety of tax advantages.
Traditional IRA
Contributions up to $2,000 annually may be deductible, and your earnings are
not taxed until you start withdrawing money.
Roth IRA
For many people, a Roth IRA may offer greater tax savings and withdrawal
flexibility than a traditional IRA. Eligibility depends on income.
Simple IRA
SIMPLE IRA plans are retirement vehicles, maintained on a calendar year basis,
for small employers (no more than 100 employees earning at least $5,000 for the preceding
year), which permits contributions under a qualified salary reduction agreement.
Annuities
Annuities can provide a series of payments that typically start at retirement
and continue for the rest of the contract owner's life. Annuities can provide retirement
income for either a fixed period of time or for the rest of an annuitant's life.
Retirement income payments can begin immediately with the purchase of an annuity or be
deferred to some time in the future.
401(k)
A 401(k) plan allows you to postpone receiving a portion of your salary until
you retire. You choose the amount of income you'd like to "send to the future,"
or defer annually. Advantages of a 401(k) include:
- Chance of lowering your income rate by deferring a portion of your taxable income.
- Ability to access the money for certain situations like buying a house, college fees, or in some hardship situations.
- Your Social Security contributions and benefits will not be impacted by your 401(k) plan.
- Your account is transferable—so you can take it with you from job to job
Long Term Care
Long-Term Care has been defined as "medically necessary assistance,
recommended by a physician for the treatment of a chronic illness or debilitating injury
on a long term basis. Recovery is usually not expected. Care is oriented toward helping a
person function, not toward a cure."
Long-term care is typically not covered by your health plan, disability coverage or Medicare. Medicaid does cover long-term care, but only after you have used up your assets paying for care.
All securities through Money Concepts Capital Corp. Member NASD/SIPC.