Orchestrating Your Retirement Accounts

Orchestrating Your Retirement Accounts

An orchestra is merely a collection of instruments, each of which brings a unique sound. It is only when a conductor leads them that they create the beautiful music imagined by the composer.

The same can be said about your retirement strategy.

The typical retirement strategy is built on the pillars of your 401(k) plan, your IRA, and taxable savings. Getting the instruments of your retirement to work in concert has the potential to go far in realizing the retirement you imagine.

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What is an Annuity?

What is an Annuity?

Individuals hold more than $2.0 trillion in annuity contracts; a tidy sum considering an estimated $7.4 trillion is held in all types of IRAs.¹

Annuity contracts are purchased from an insurance company. The insurance company will then make regular payments – either immediately or at some date in the future. These payments can be made monthly, quarterly, annually, or as a single lump-sum. Annuity contract holders can opt to receive payments for the rest of their lives or for a set number of years.

The money invested in an annuity grows tax-deferred. When the money is withdrawn, the amount contributed to the annuity will not be taxed, but earnings will be taxed as regular income. There is no contribution limit for an annuity.

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Your Emergency Fund: How Much is Enough?

Your Emergency Fund: How Much is Enough?

Have you ever had one of those months? The water heater stops heating, the dishwasher stop washing and your family ends up on a first-name basis with the nurse at urgent case. Then, you’re driving to work, giving yourself your best, “You can make it!” pep talk; you see smoke seeping out from under your hood.

Bad things happen to the best of us, and instead of conveniently spacing themselves out, they almost always come in waves. The important thing is to have a financial life preserver, in the form of an emergency cash fund, at the ready.

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