Call Us CALL US TODAY | (800) 301-8818
Annuities IRA/401k ANNUITIES IRA/401K Read More
Tax Free and retirement plans TAX FREE RETIREMENT PLANS Read More
Social Security Benefits SOCIAL SECURITY BENEFITS Read More
Lifetime Income LIFETIME INCOME Read More
Life/Mortgage Insurance Insurance LIFE / MORTGAGE INSURANCE Read More
Final Expense FINAL EXPENSE/BURIAL INSURANCE Read More

Annuities


Annuities Quote Forms

Looking for coverage? Click any of the following links to submit a quote for quick, accurate and affordable rates.


Annuities Information

 

What is an IRA?

An individual retirement account (IRA) allows you to save money for retirement in a tax-advantaged way.

An IRA is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis. The three main types of IRAs each have different advantages:

  • Traditional IRA - You make contributions with money you may be able to deduct on your tax return, and any earnings can potentially grow tax-deferred until you withdraw them in retirement. Many retirees also find themselves in a lower tax bracket than they were in pre-retirement, so the tax-deferral means the money may be taxed at a lower rate.
  • Roth IRA - You make contributions with money you’ve already paid taxes on (after-tax), and your money may potentially grow tax-free, with tax-free withdrawals in retirement, provided that certain conditions are met.
  • Rollover IRA - A Traditional IRA intended for money "rolled over" from a qualified retirement plan. Rollovers involve moving eligible assets from an employer-sponsored plan, such as a 401(k) or 403(b), into an IRA.

Why invest in an IRA?

Many financial experts estimate that you may need up to 85% of your pre-retirement income in retirement. An employer-sponsored savings plan, such as a 401(k), might not be enough to accumulate the savings you need. Fortunately, you can contribute to both a 401(k) and an IRA.

  • Supplement your current savings in your employer-sponsored retirement plan.
  • Gain access to a potentially wider range of investment choices than your employer-sponsored plan.
  • Take advantage of potential tax-deferred or tax-free growth.

You should try to contribute the maximum amount to your IRA each year to get the most out of these savings. Be sure to monitor your investments and make adjustments as needed, especially as retirement nears and your goals change.

When you have earned income, you can contribute it to an IRA up to the maximum annual limit of $5,500. If you're 50 or older, you're allowed to contribute an additional $1,000. If you have more than one IRA, the total contribution to all your IRAs can't exceed the annual limit.

What is a 401k Plan?

A 401k is a qualified retirement plan that allows eligible employees of a company to save and invest for their own retirement on a tax deferred basis. Only an employer is allowed to sponsor a 401k for their employees. You decide how much money you want deducted from your paycheck and deposited to the plan based on limits imposed by plan provisions and IRS rules. Your employer may also choose to make contributions to the plan, but this is optional.

It is the employers (also called the plan sponsor) responsibility to run the plan in accordance with law, rules and regulations, and provisions of the plan itself. This includes deciding who is eligible for the plan, how much and when they can contribute, how much the employer will contribute to the plan, what investment options you will have, how often you can reallocate your investment assets, hiring the vendors necessary to run the plan, and what features the plan will have (will loans be allowed, will hardship withdrawals be allowed, etc.).

It is your responsibility to decide if you want to participate in the 401k, and if so, how much you will contribute each pay period. If you earn $750 each pay period and elect to defer 5% of your pay, $37.50 is taken out of your pay and placed in the 401k plan. These contributions are deducted from your salary on a pre-tax basis. This means that by contributing to a 401k, you actually lower the amount you pay in current income taxes. For example, instead of being taxed on the full $750 per pay period, you are only taxed on $712.50 ($750 minus your 401k contribution of $37.50 equals $712.50). You don't owe income taxes on the money contributed until you withdraw it from the plan.

Here are a couple of things to remember about 401k plans:

Don't put off participating in your 401k, even if you think you can't afford to. Time is your best guarantee that you will make your retirement goals, so the sooner you start contributing the better off you are going to be in retirement. Even just one or two percent will make a big difference.

A 401k is a retirement plan, not a savings account. Money placed in a 401k is not easy to access in an emergency. Some plans allow loans and hardship withdrawals, but the rules governing them are restrictive.

401k Rollovers

When you take a 401(k) from an old job, you have a few options on what to do with it. But for many people, a great choice is to convert the 401(k) into an IRA.

How to start your rollover

There’s a right way to roll over your funds from a 401(k) and a wrong way. You don’t want the 401(k) provider to cut a check in your name, and you don’t want to cash out your balance. In both scenarios, you’re at risk of owing up to a third of your balance to the IRS.

Take these four steps to roll over your funds without incurring any unpleasant tax surprises:

  1. Decide on a Roth or a traditional IRA. If you roll into a Roth IRA, you’ll owe taxes on the rolled amount. If you want to rollover your funds without incurring taxes, stick with a traditional IRA.
  2. Open a rollover IRA account. Call us to help you pick a provider that works best for you.
  3. Ask your 401(k) plan for a “direct rollover.” These two words are important: They mean that the 401(k) plan will cut a check directly to your new IRA account, not to you personally.
  4. Choose your investments. The 401(k) funds will enter the IRA as cash, so you’ll need to invest the money.

What is an annuity?
1 (800) 301-8818

An annuity is a long-term investment between you, the annuitant, and an insurance company, the annuity issuer. Under this contract, you pay after-tax funds to the annuity issuer, who then invests your principal to meet your financial objectives and pays you or your beneficiary back with earnings (subject to the claims-paying ability of the issuer).

If you have  a fixed annuity, your interest rate is guaranteed. With a variable annuity, your earnings are linked with the fluctuating performance of your investments and may be worth more or less than your principal when redeemed. In addition, you have added control in how your money is invested, creating a higher potential for growth. However, this option comes with a higher risk in return.

Unlike other investment plans, there is no limit to how much you can invest in an annuity. Your funds will steadily grow with a tax-deferred status, and you pay your regular tax income rate on only your earnings upon withdrawal.  

What annuity options are available?

 An immediate annuity can begin paying you right away. You can choose whether you want your income  guaranteed for a specific time period or if you want lifelong payments. The amount of your payments is calculated based on your principal and your life expectancy.

A deferred annuity is broken up into two phases:

Accumulation: This is when you add money to your annuity, whether you pay in a lump sum or you make a series of payments. You can continue to let your account grow tax-deferred for an indefinite amount of time.

Distribution: This is when you begin withdrawing money from your annuity whether you take out systematic withdrawals or you annuitize to supplement your finances with a regular stream of income for life.



Why buy an annuity?

An annuity is a good investment option for individuals who are willing to take a bigger risk in hopes of earning a bigger payout. Your earnings can then be used for supplemental income during retirement, guaranteed financial independence as you age, or a monetary legacy to leave behind for your loved ones. An annuity can help you continue living comfortably well into old age.

                                                                                                                          

Your Annuity value grows tax deferred and you get triple compound interest. Your principle earns interest and the interest compounds and the money saved in deferred taxes earns interest. You only have upside potential and 0% downside. You are protected from Probate, Creditors, Lawsuits, and Nursing homes if you have money in an Equity Index Annuity.

In addition, we specialize in Stretch IRA, Multi Generate IRA, or Legacy IRA. You can stretch your IRA to your children and grandchildren by leaving Legacy and you can insure your nest egg. We provide Safe $$ alternatives and Safe money solutions.

We can help you to overcome the fear of outliving your money by providing you the option to have a Lifetime Income Benefit. We also provide Tax Free Retirement plans by structuring different Index Universal Life Plans.

FOR MORE INFORMATION ON ANNUITIES, CLICK HERE   

                                                                            Proudly Serving All of Southern California

Facebook
LinkedIn
Twitter
YouTube
© Copyright. All rights reserved.
Powered by Insurance Website Builder