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Protect Your Family

Planning for College

Planning for College

Every parent knows the feeling – one minute, you’re holding a little miracle in your arms, the next, you’re trying to figure out how to pay for braces, piano lessons, and college. There are ways to start planning now for the future. 

Life Insurance Needs**

Life Insurance Needs**

If your family relies on your income, it's critical to consider having enough life insurance to provide for them after you pass away. But too often, life insurance is an overlooked aspect of personal finances. Learn more about assesing your life insurance needs and why its important. 

Roth IRA Tax Benefits*

Roth IRA Tax Benefits*

As you are building your wealth and saving for retirement, a Roth IRA could be a tax-advantaged solution for you to invest your money and boost your retirement savings.

To help make the most of your Roth IRA and the compound interest that comes with it, add your contributions as early in the year as you can. The earlier you add funds into the account, the sooner the compound interest takes effect and the more you can save. And to start saving for retirement as early as possible, there isn't an age restriction on when you can open a Roth IRA. If you are earning taxable income, you can open an account and begin contributing. This allows you to begin saving without having to wait for an employee-sponsored retirement account.

If you’d like to learn more about using a Roth IRA to build your future wealth, contact the office. 

Value of Protection

Value of Protection

The uncertainties of life are wide-ranging, and many of them can threaten the financial security of you and your family. An inability to earn a living to support yourself or your family due to a death or disability can be devastating. How can you protect yourself and your family in times of uncertainity?

*Converting from a traditional IRA to a Roth IRA is a taxable event.

A Roth IRA offers tax free withdrawals on taxable contributions.

To qualify for the tax-free and penalty-free withdrawal or earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take place after age 59 ½ or due to death, disability, or a first-time home purchase (up to a $10,000 lifetime maximum). Depending on state law, Roth IRA distributions may be subject to state taxes.

**The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable by having the policy approved. As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications.