Deferred annuities offer powerful tax advantages. While annuity tax rules aren’t too complex, understanding them and naming beneficiaries properly assures the maximum tax advantage. Annuity interest is not taxed until it’s withdrawn. With a deferred annuity, the owner decides when to withdraw interest and pay taxes on it. The flexibility to wait until you need… Continue reading Deferred Annuities’ Flexibility Provides Powerful Tax Advantages
Tag: beneficiaries
Updating Beneficiaries When Life Changes is Crucial
Once you’ve bought an annuity or a life insurance policy and named your beneficiaries, you may never think about your beneficiaries again. But that could be a big mistake. If you get divorced and remarry but fail to change your beneficiary from your ex-spouse to your current spouse, your ex will receive the proceeds. Besides… Continue reading Updating Beneficiaries When Life Changes is Crucial
Estate Planning Is Not Just for the Ultra-Rich Anymore
Hollywood’s stereotype of estate planning usually features assorted nieces, nephews and cousins gathered in the drawing room of a 100-year-old mansion greedily waiting to hear what an eccentric rich relative left them. By the time the scene is over, no one is happy – and that part, at least, has some veracity. Thousands of people… Continue reading Estate Planning Is Not Just for the Ultra-Rich Anymore
How to Decide Who Merits Your Money as You Ponder Your Legacy
Not long ago, Jeff Bezos took to Twitter to ask the world for charitable-giving ideas. The Amazon.com founder sought a charitable strategy that looked at the long term and soon he was inundated with suggestions. Of course, Bezos has plenty of money to give, but you don’t need to be a billionaire to reach a… Continue reading How to Decide Who Merits Your Money as You Ponder Your Legacy
A Life Insurance Policy Could Be Your Retirement Salvation
Americans worry a lot about retirement. Will their savings hold out? Will Social Security still be around? Will healthcare costs gouge a great hole in their finances? What many of them may not be aware of, though, is that if handled correctly their life insurance policies could play a role in making retirement a little… Continue reading A Life Insurance Policy Could Be Your Retirement Salvation