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Financial Planning Frequently Asked Questions (FAQ)
Q: What is Financial Planning?
Q: What kind of Planning do I need?
Q: What if I die or become physically or mentally incapacitated?
Q: College is expensive. What can I do?
Q: I’ve heard of a Reverse Mortgage, what is it?
Q: When I die I want my spouse, children, and heirs to be secure. How do I do this?
Q: Can I maximize my contributions to charity?
Q: What is Financial Planning?
A: Financial Planning helps you Accumulate, Protect, and Distribute Assets. TOP
Q: What kind of Planning do I need?
A: Well, there is Retirement Planning, which can occur before and after the fact. It might include:
Roth, Traditional, Rollover IRA’s, & 401k
Mutual Funds
Annuities (Fixed, Variable) & 403b
Avoiding IRA/Annuity 10%penalty before 59˝
Required Minimum Distributions at 70 ˝
Q: What if I die or become physically or mentally incapacitated?
A: That is where Insurance Planning comes to the rescue. It might include:
Life Insurance (Term, Universal, VUL)
Mortgage Insurance
Disability Income
Long Term Care
Q: College is expensive. What can I do?
A: Plan NOW or Pain later. Education Planning might include:
Uniform Gift to Minors (This might be dangerous) Why?
Coverdell Education Plans
529 Plans
Q: I’ve heard of a Reverse Mortgage, what is it?
A: This can be a beneficial way to unlock tax-free money in your home after age 62 without the pain of expensive mortgage payments.TOP
Q: What if I own a business and want to help my employees and myself save for the future and ensure business continuity?
A: Business Planning is especially crucial these days. To maximize everyone’s benefits, Business Planning might include:
Simple IRAs, SEPs, & 401k
Profit Sharing & Pension Plans
Buy/Sell Agreements
Q: When I die I want my spouse, children, and heirs to be secure. How do I do this?
A: Estate and Tax Planning will protect your Family's Assets from these pitfalls:
Bankruptcy & Law Suits
Death & Divorce
Investment Inexperience
Loss of Government Benefits
Federal Estate & Income Tax
Through the use of proper and up to date Wills, Living Wills with Health Care Nominees, Powers of Attorney, and Trusts
Q: Can I maximize my contributions to charity?
A: Charitable Planning achieves tax deductions, now. A Donor Advised Fund may allow the charitable contributions to supersede the tax deduction over time! TOP
A: Call us for your free financial check up. It is that easy to take care of all these complex issues.
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