Roll Overs Information
If you have any of these: 401(k), ROTH 401(k), 403b, IRA, ROTH IRA, SEP IRA or a SIMPLE IRA, we want to congratulate you, but you need to know that........
These are for the most part employer-sponsored retirement savings plan. It allows you, the employee, to invest part of your paycheck before or after taxes. If money is placed in these account before taxes, you will pay the taxes when you withdraw the money from the account. Many employers offer matching programs as part of their employee benefits package. These plans started replacing pension funds in the 1980s when the cost to run pension plans rose.
Where is the money I have on this plan invested?
The money you have in these type of retirement savings plans is a spread of mutual funds made up of stocks, bonds and money market investments. You as the Employee choose how thee money is invested.
Is my retirement savings plans at risk with fluctuations of the economy?
Yes, because your money held on these plans is invested in mutual funds made up of stocks, bonds and money market, your retirement savings are affected by fluctuations of the economy, therefore at risk of loosing value at any time. If you or someone you know had one of these plans during the down-turn of the economy in 2008, you understand the risk of having your retirement savings on any of these savings plans.
What happens if I don't Roll-Over my monies out of my employers plan?
Upon attaining retirement, your employer's plan sponsor will give you payout options including transferring the balance of your account to any Life Insurance company. Your money is placed into an Annuity on your behalf that will start paying you a fix monthly income until you die. You will have no control of your money. If you die, nothing is paid to your beneficiary. If you have an emergency and need extra money for anything, the money in such annuity can't be withdrawn.
Where can I Roll-Over my retirement savings and be protected from fluctuations of the economy and keep control of my savings?
Your retirement savings could be protected from fluctuations of the economy by a transaction usually referred to as a Roll-Over. The balance of your retirement savings account is transferred into a Fixed Index Annuity. This is a financial contract 100% safe from fluctuations of the economy.
What are the benefits of a Fixed Index Annuity?
In a Fixed Index Annuity, the balance (your principal) is Guaranteed (not to loose value). If you died, the balance of your account is paid to your Beneficiary. You can Roll-Over your employer sponsored retirement or pension plan into a Fixed Index Annuity until you are age appropriate to start retirement income withdrawals. Annuities can be structured to give you income for the rest of your life. You can also withdraw funds if you have an immediate need for cash (replace the home air conditioner, pay medical expenses, pay for nursing care)
Who issues a Fixed Index Annuity?
An Annuity is a financial contract, issued by a life insurance company. The contract can be structured with different options: Monthly Income for a certain period, Income for Lifetime, or plain savings until you do have a need for the money.
Get started today! Let us turn your unsecured retirement savings into secured retirement income! Fill out a request form today, and let our agency illustrate an Annuity contract for you. All it takes is a few minutes to provide your information and start earning peace of mind that your retirement savings will be 100% safe.