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MB & Associates - Insurance And Financial ServicesWe represent you, not specific insurance or financial companies.Retirement Plans
While we all have different visions and goals for retirement, one thing remains constant: planning for retirement is a responsibility not to be taken lightly. Social Security is the largest source of income for most elderly Americans today, but Social Security was never intended to be your only source of income when you retire. You also will need other savings, investments, pensions or retirement accounts to make sure you have enough money to live comfortably when you retire. A secure, comfortable retirement is every worker’s dream. And now because we’re living longer, healthier lives, we can expect to spend more time in retirement than our parents and grandparents did. Achieving the dream of a secure,comfortable retirement is much easier when you plan your finances.
Fixed index annuities (FIA) can be a valuable planning vehicle for retirement savings.They offer protection from market downturns and guarantees that you expect along with growth opportunity to help build your retirement savings.
Fixed Index Annuities could be qualified (tax deductible) and non-qualified. Examples of qualified accounts are Traditional IRA, SEP IRA, 403B, 401K.
A Traditional IRA is a personal retirement plan to which eligible participants can make tax-deductible contributions each year.
A Simplified Employee Pension (SEP) is an IRA, which is funded exclusively by employer contributions. A SEP provides a means of retirement savings for self-employed persons and employees of small businesses. The SEP can be a simple alternative to more complicated and costly qualified plans.
A Roth IRA is a personal retirement plan into which eligible participants can make after-tax contributions. The Roth IRA was introduced as part of the Taxpayer Relief Act of 1997. A benefit of a Roth IRA is that an owner may take distributions from it tax free, provided that the account is at least five years old and the account holder is 59 1/2 or older.
A 403(b) tax-sheltered annuity is a retirement savings program that allows employees to save pre-tax dollars, which grow on a tax-deferred basis until distributions are taken.
Only employers categorized as either public education institutions or 501(c)(3) organizations can set up a 403(b) plan for their employees.
Choosing the right accumulation vehicle for retirement is important. With so many choices, make sure to ask your financial professional which one is more suitable for you.
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