by Encompass Wealth Group | Apr 10, 2021 | Uncategorized
Financial Literacy Month Term of the Day ASSET-BASED LONG-TERM CARE Unlike traditional long-term care and its “use it or lose it” benefits, this is a life insurance policy that allows one to leverage the death benefit to pay for nursing care costs,...
by Encompass Wealth Group | Apr 8, 2021 | Uncategorized
Financial Literacy Month Term of the Day FIXED INDEX ANNUITY (FIA) Returns in this annuity category are typically linked to a fixed interest rate or performance from an underlying market index. FIAs provide principal guarantees and protection against market risk due...
by Encompass Wealth Group | Apr 6, 2021 | Uncategorized
Financial Literacy Month Term of the Day QUALIFIED ANNUITIES These annuity contracts are generally funded with pre-tax dollars, which is an automatic tax advantage since the tax isn’t assessed on these contracts until a future date when distributions are taken....
by Encompass Wealth Group | Apr 1, 2021 | Uncategorized
Financial Literacy Month Term of the Day NON-QUALIFIED ANNUITIES Annuity contracts that are funded with already-taxed dollars. Because annuities are a tax-deferred insurance product, it’s the initial premium payment(s) in a contract from which the measure for...
by Encompass Wealth Group | Mar 12, 2021 | Uncategorized
Do you know what has changed for I.R.A. beneficiaries? Provided by Nick Boeckman, CFP® New inherited I.R.A. rules took effect on January 1, 2020. The Setting Every Community Up for Retirement Enhancement (SECURE) Act became law on that day, altering the regulations on...
by Encompass Wealth Group | Mar 5, 2021 | Uncategorized
What role should taxes play in your investment decisions? Provided by Nick Boeckman, CFP® Will you pay higher taxes in retirement? Do you have a 401(k) or a traditional IRA? If so, you will receive income from both after age 72. However, if you have saved and invested...
