Miami, FL Retirement Planning and Annuities

 

Bonuses on principal when
account is opened

Earn up to 6% on your
retirements dollars

100% safety on principal and
interest earned guaranteed

Allows you to create your
own income for life guaranteed

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Tax deferred
interest

Creditor
protected

 

An annuity is a type of investment in which you contract to put in payments for a certain amount of time, or pay one large amount of money. In return, you will receive payments at regular intervals sometime later down the road. Usually, these annuities are obtained through insurance companies. Your contribution is then invested in sub-accounts — usually consisting of stocks and bonds that generate income for you that changes depending on how the contract is structure.

In most cases, annuities are used as retirement vehicles. There may even be penalties if you withdraw money from your annuity before you reach a certain age. Many annuities feature a regular payout that is not affected by market fluctuations. As a result, many folks are taking their retirement plans and putting them into annuities; they are worried that a market crash could wipe them out. An annuity provides stability, safety of principal and interest earned.

Meet your senior years comfortably with a plan designed by Group One.

The quality of your life during your retirement depends on how much you will be able to save during your younger years. However, saving money without an established plan is not enough. It is essential to develop a plan that guarantees your peace of mind knowing that you will have the necessary financial resources to lead a comfortable retirement life.

Social security

The monthly income of more than half of the people who are at the retirement age depends 90% on the social security check. This is why it is important to develop your own plan that will guarantee adequate income once you arrive at this stage of your life.

Using Permanent Life Insurance as an Alternative Funding Vehicle

Why would anyone use permanent life insurance (universal life or whole life) as a funding vehicle to pay for college education? There are several good reasons. (We assume that the life insurance policy will be written on one of the parents.)

1. Life insurance is a “self-completing” plan. Let’s assume dad is the breadwinner in the family. If he dies when a child is young without fully funding a prepaid college plan, there will be a significant shortfall when the child goes to college. But if dad owns life insurance, it would pay an income tax-free death benefit to the beneficiary (presumably the surviving spouse) who can use that money for the child’s college education.

2. Cash value in a life policy will not only grow tax-deferred, but can be removed tax-free (within limits) for college expenses, through policy loans.

3. After borrowing from the policy, it will still have cash value that can grow for years to come. When the parent is in retirement, he or she can access that cash through withdrawals and policy loans. A prepaid college plan does not allow this.

4. Money in a permanent policy is not a countable asset when a child applies for college financial aid.

If you are interested in learning more about your retirement options, please contact us at: 844-572-8048 for a no cost or no obligation conversation so we can address these issues for you. It’s never too late to start.

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