Next Generation of Family Insurance Protection

Next Generation of Family Insurance Protection

Next Generation of Family Insurance Protection helps families protect their assets , and start the accumulation of retirement plans without all the risk .

The Importance of Life Insurance in Today’s Economy

Have you been wondering how the current economy will affect your long-term prospects for financial security? Have you put off investing – or even purchasing life insurance – due to concerns about market volatility or potential changes in your circumstances? If so, the purpose of this letter is to help put your mind at ease abou

Operating as usual

[03/11/16]   The Importance of Life Insurance in Today’s Economy

Have you been wondering how the current economy will affect your long-term prospects for financial security? Have you put off investing – or even purchasing life insurance – due to concerns about market volatility or potential changes in your circumstances? If so, the purpose of this letter is to help put your mind at ease about both.
First, while the current economic crisis is anything but normal, periodic fluctuations in the marketplace are. In fact, without these normal market ups and downs, the equity markets would essentially be closed to the average investor.

Second, protecting your family and investing for the future are long-term propositions. Historically, people who have “stayed the course” over a long-term investment program have not only avoided the classic error of “buying high and selling low”, they have also generally been rewarded – over the long term – with steady investment growth. (Of course, a plan of regular investing does not assure a profit or protect against a loss in a declining market.)

One positive result of the current economic uncertainty has been a renewed interest on the part of many Americans in protecting the future financial security of their families and loved ones. And the financial tool to which they are increasingly turning is life insurance. Life insurance is a simple, flexible, and affordable way to create certainty in a world that offers few certainties. Only life insurance can help give you:

The peace of mind that comes with knowing your family will be protected – now and in the future - regardless of what happens on the social scene or in the economy.
The ability to make plans - and then ensure that the funds will be there to carry out those plans – if you aren’t here to do it yourself.
It’s that simple, and it’s that powerful.

If you’re among the millions of Americans who are taking a second look at things - be it saving for the future, protecting the people who are important to you, or simply providing yourself and your family with a greater sense of security, we’d like to help.

[03/11/16]   Understanding RMDs

Tax-deferred plans can be a great way to save money for retirement, but you can’t defer your tax liability forever. Once you reach age 70½, you must begin taking required minimum distributions (RMDs) from these plans each year or face a 50% penalty on the amount that should have been withdrawn. If you are still employed, you may be able to delay minimum distributions from your current employer’s plan until after you retire, but you still must take RMDs from other tax-deferred accounts (except Roth IRAs). The RMD is the smallest amount you must withdraw each year, but you can always take more than the minimum amount.

Basic Rules
Even though you must take an RMD for the tax year in which you turn 70½, you have a one-time opportunity to wait until April 1 (not April 15) of the following year to take your first distribution. For example:

If your 70th birthday is in November 2015, you will turn 70½ in May 2016 and must take an RMD for 2016 no later than April 1, 2017.
You must take your 2017 distribution by December 31, 2017, your 2018 distribution by December 31, 2018, and so on.

Life Expectancy
Annual RMDs are based on the account balances of all your traditional IRAs and employer plans as of December 31 of the previous year, your age in the current tax year, and your life expectancy as defined in IRS tables.

Most people use the IRS Uniform Lifetime Table (Table III). If your spouse is more than 10 years younger than you and the sole beneficiary of your IRA, you must use the Joint Life and Last Survivor Expectancy Table (Table II). Table I is for account beneficiaries, who have different RMD requirements than original account owners. To calculate your RMD, simply divide the value of each retirement account balance (as of December 31 of the previous year) by the distribution period in the IRS table.

If you have multiple tax-deferred accounts, calculating RMDs can be complex. That’s one reason why people consolidate their retirement accounts as they approach retirement or retire. The administrator of your retirement plan may provide information regarding your RMD for a specific account, but you might also consult with your tax professional.

The information in this article is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.

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800 North San Jacinto Street
Conroe, TX
77301

Opening Hours

Monday 07:00 - 21:00
Tuesday 07:00 - 21:00
Wednesday 07:00 - 21:00
Thursday 07:00 - 21:00
Friday 07:00 - 21:00
Saturday 07:00 - 21:00
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