College Savings Plans
An education savings plan to help families set aside funds for future college expenses.
Retirement Planning
The planning one does to prepare for life after you retire.
Disability insurance
Offers income protection to workers’ salary if that worker becomes disabled and is unable to work.
Estate Planning
A legal document that puts your future wishes regarding the distribution of your property. This includes instructions regarding the care of minor children. An estate plan goes much further than a will. Not only does it deal with the distribution of assets and legacy wishes, but it may help you and your heirs pay substantially less in taxes, fees, and court costs.
Most people with assets or a family should execute a will. However, not everyone needs an estate plan. The decision is a personal one and depends on more than the potential size of an estate. Consider the following key questions:
Are there children involved?
How large is the estate, and which state is it in?
If you have any type of retirement account, such as a 401(k), 403(b), IRA, or Roth IRA, can its distribution to the beneficiaries be “stretched”?
Is privacy important?
Would you like some money to go to charities?
If you own a business, have you thought about succession planning?
What life stage are you in? Is estate planning becoming more important?
Are there special circumstances to consider (like blended families or disabilities)?
403b's
Retirement Benefit Plans for non-profit organizations. A defined contribution retirement plan. Offered to employees of school, hospitals, and churches. Employees can contribute money from their paychecks into their accounts which work the same as 401k
Financial Planning
An ongoing process to help you make sensible decisions about money that can help you pursue your goals in life.
Life Insurance
Provide a measure of financial security for your family after your life.
Annuity
A contractual agreement that is designed to accept and grow funds and make payments until a specific time period.
Series of payments made at equal intervals. The payments may be made yearly, weekly, or monthly. An annuity which provides payments for the remainder of the person’s lifetime is a life annuity.
Stocks
Ownership of a corporation indicated by shares, which represent a piece of the corporation’s assets and earnings.
Bonds
Bonds are a more conservative and less volatile than stocks. A fixed income investment in which an investor loans money to an entity which borrows the funds for a defined period of time at a variable or fixed interest rate. Bonds are used by companies, municipalities, states and governments to raise money and finance a variety of projects. For example, a bridge.
Mutual Funds
Mutual funds are pools of money that are managed by an investment company. They offer investors a variety of goals, depending on the type of fund. The funds vary between generating income, rapid growth and preservation of capital.
ETF's
Exchange-Traded Fund that tracks an index
IRA's
IRAs are investment accounts that hold stocks, bonds, mutual funds, ETFs, and more. It's a type of tax-advantaged savings account intended to help you save for retirement.
401k's
Retirement Benefit Plans for profit organizations. A retirement savings plan sponsored by an employer, it allows the individual to save and invest a piece of their paycheck before taxes are taken out. The taxes aren’t paid until the money is withdrawn from the account