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annuity: Maximizing the "Bank of You Concept"; Setting Up Your Own Private Bank - 01/14/10 05:54 PM
Not only is the average american unable to save money but there is a serious negative savings rate taking place that is piling up the debt owed in this country at a pace that is mind-boggling. These families are spending huge amounts of money to finance debt on the largest purchases such as, homes, major appliances and autos.
During a lifetime the interest paid on these purchases can add up to hundreds of thousands of dollars. Infact 34.5 cents of every dollar is being spent on interest to finance our american lifestyle through banks and finance companies.
It is possible to … (0 comments)
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annuity: Annuities, How They Work And Their Tax Advantages - 01/14/10 05:45 PM
Even though an annuity is sold like securities by insurance companies, they are much different from insurance policies. The best way to explain annuities is to imagine a hybrid product that combines the advantages of long-term investments with the advantages of life insurance. With an insurance policy you typically pay monthly premiums, whereas an annuity generally has you making a lump sum payment upfront to guarantee a periodic payout immediately or starting at some future date that you choose.The exciting part is these payments continue as long as you live.
In case you are thinking you do not have a … (0 comments)
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annuity: Advantages And Disadvantages Of Investing In Annuities - 01/14/10 05:42 PM
Annuity Pros(Advantages)
One of the largest benefits touted is that annuities offer you tax-deferred income, as annuity income is taxed only when you elect to receive it. So you can avoid taxes on annuities if you never want to use it, however that usually is not the objective. It is taxed evenly no matter when you put the money in if it is annuitized ("flip the switch" and start taking income from the annuity). If you take it out some other way i.e. IRS rule 72t, withdrawals etc. then it is taxed LIFO (last in first out). The purported advantage … (0 comments)
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annuity: Using Life Insurance As An Estate Planning Tool - 01/14/10 05:38 PM
Life Insurance policies are absolutely critical to an Estate Plan and is one of the first things that a Financial Planner will check when working on an Estate Plan.
There are four critical areas of the Estate Planning process that make Life Insurance a crucial component to Estate planning:
Wealth Accumulation. Life Insurance can be used to increase your family's wealth after the death of a family member.
Debt Retirement. Experiencing loss of income from a deceased family member can be catastrophic to a family budget and wreak irrevocable harm.
Income replacement. Funding an income stream for your family after … (2 comments)
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Leon Williams
Sacramento,
CA
More about me…
LUCA Financial Services
Office Phone: (800) 867-0850 x 4
Cell Phone: (916) 470-5004
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