Financial Services: Personal & Business
With today’s unpredictable financial climate, choosing the right investment vehicle has become a challenge. Whether you need a guaranteed income for life, college fund, compensation package for a key employee, or a retirement plan, we can customize a program fulfilling all of your financial objectives:
Annuities are unique financial products offered only by insurance companies. After depositing a sum of money with an insurance company, you can choose an immediate or deferred monthly income for a guaranteed fixed period or for life. This type of investment vehicle may be a good addition to your investment portfolio. Another benefit of an annuity is its tax deferred status and the fact that the amount you place into your annuity is unlimited, unlike 401Ks or IRAs.
Individual Retirement Accounts provide another form of retirement funding. The amount you can put away is limited based on current IRS rules. Funds are tax deferred and there is a broad spectrum of investment opportunities available (including stocks, bonds, mutual fund and REITs, to name a few).
Education Savings Accounts (ESA):
Provides an opportunity to save money for future educational expenses for your children. Basically, the money going into the ESA account has already been taxed so the real benefit is the future growth which is income tax exempt as long as proceeds are used for educational expenses according to IRS code. Eligibility is based on individual or joint income.
Nonqualified Deferred Compensation Agreements & Plans:
A nonqualified deferred compensation agreement (NCA) is a contractual agreement whereby the Employer agrees to compensate the Employee at some future date for services rendered. Nonqualified deferred compensation plans (DCP) are tax deferred funding vehicles employers purchase to ensure that future funds promised to the employee are available when the employee elects to retire and begin receiving plan benefits.
Pension & Profit Sharing Plans:
An employer-sponsored plan meeting IRS requirements whereby the employer contributes money into an approved retirement vehicle on behalf of the employee. The payments are deductible to the employer and tax deferred to the employee.
Also an employer-sponsored plan whereby the employee contributes a set amount of money into an approved investment vehicle and the employer may or may not contribute to the plan. In 401K plans, unlike pension – profit sharing plans, the employee is responsible for making the proper investment choices.
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