This week’s article provides an easy answer to the question ‘What is an Indexed Annuity?’ “An indexed annuity is a type of annuity contract that pays an interest rate based on the performance of a specified market index, such as the S&P 500. It differs from fixed annuities, which pay a fixed rate of interest, and variable annuities, which base their interest rate on a portfolio of securities chosen by the annuity owner. Indexed annuities are sometimes referred to as equity-indexed or fixed-indexed annuities.” If you are interested in learning more or have any questions, call us. We’re always here
With deadlines for filing tax returns approaching we are beginning to remind people that the deadline for making their permitted annual deposits into their retirement accounts is also approaching. Even if you have a Roth IRA you may want to consider the different options you have to both accumulate wealth for retirement, or if you are already retired and taking income from your savings, to obtain growth potential without being vulnerable to major long-term downturns in the market. Call us, we’re happy to explain some choices you have and discuss how they may fit into whatever stage of retirement planning
Lately, we have been asked about taxes and life insurance. Specifically whether or not beneficiaries of a life insurance policy have to pay income taxes on that money, or whether the estate has to pay taxes on it. The simple answer is, usually, no. However, there can be nuances involved. For example, taxes can depend on how the life policy is owned, or how the beneficiary is identified. Because of this, we thought we would share this informative article. Take a look, and then call us if you have any questions. We’re always here to help. P.S. Give the office
This week’s article tells us “experts want you to start saving as soon as possible, no matter what amount you can afford to put away.” The first goal is to simply get into the habit of saving for the future because the future comes sooner than you think, and “the second is to take advantage of as many compounding returns as you can: The longer your money is invested in the market—even if it’s a smaller amount—the longer it has to grow and generate increasingly larger returns.” The article also tells us “this turns most of us into market watchers.