If you want to make the most of your retirement, planning is key. One way of doing this is getting an investment portfolio which facilitates personal investment management and helps with organizing budget and savings. An investment portfolio is basically a cohesion of investments an institution/individual has. If this is done in an efficient way,… Continue Reading
Oil prices rose; Britain’s benchmark stock index plummeted as Muammar Gaddafi “tightened his grip on Tripoli,” yet failing to exert that control over eastern Libya. The premier’s loyal security forces allegedly forced protestors out of the capital’s streets which was undergoing major chaos as close to 300 civilians have been killed according to a Human… Continue Reading
Retirees who withdrew a lump sum from their retirement plans would seemingly benefit from an immediate annuity. In theory the sum can be changed into monthly, quarterly or annual payments “that represent a portion of principal plus interest” and will last over a lifetime. But this has risks: a) getting a lifetime of regular payments… Continue Reading
It’s important that the client reads the small print before signing an annuity contract. There can be various additional fees that might not be so clear. These include: the fee incurred for an early withdrawal which usually starts at 7 percent and then drops a percent each year until the seventh year; mortality fees of… Continue Reading
Annuities can be purchased via insurance companies, agents, stockbrokers or banks. To get the best deal vis-à-vis fees and quality, shop around carefully. Here is what you need to do: Learn about the insurer and then compare contracts. Since there are so many discrepancies in these areas, it is important you do all your homework… Continue Reading
Payouts will be taxed in different ways depending on whether you have a qualified or non-qualified annuity. In the first case, this is basically some kind of retirement plan and will be privy to all tax benefits/penalties Congress established. Benefits include: no payment of income tax on withdrawal of nondeductible/after-tax amount imputed into the plan;… Continue Reading
There are two ways of withdrawing your deferred annuity: a one-time payment or monthly payment. Monthly payments are more common. The amount of money you will receive depends on: size of your contract; your life expectancy; if payments continue after your death; if you have chosen the minimum requirement payment options. If you opt for… Continue Reading
There are different types of annuities, dependent on: how the money is paid in; withdrawn and how it is invested. The most basic ones are: single-premium (where you make the investment in one go); flexible-premium (series of payments); immediate (payments begin once annuity has been funded – popular with retirees); deferred (receive payouts a long… Continue Reading
Investors can benefit from annuities in the following two ways: saving money for a long-term project and a guaranteed income for a set period of time. Annuities are great for funding a retirement or for large education fees when it is set in the child’s name under “Uniform Gifts to Minor Acts.” When the money… Continue Reading
An annuity is a when you get a certain amount of money paid to you “for a fixed or contingent period,” often for your entire life “either in prior installment payments or in a single payment.” There are different types of annuities as well as a variety of tax aspects, dependent on what the… Continue Reading