You work hard for your money, and it should work just as hard for you.
The right financial solutions can help you get there and can help protect you from unnecessary exposure to risks. In fact, there are financial solutions that can:
- Protect your family’s financial future
- Protect the assets you’ve worked so hard for
- Help put your savings on auto-pilot
- Help you avoid paying unnecessary fees or high interest rates
- Lower your tax bill
- Provide professional investment management
- Help to ensure a health crisis won’t put you in debt
It seems easier to save for a short-term goal like buying a new TV, than to think about investing to help you pay for the bigger things in life. But if you are looking to buy a new home, want to get a head start on retirement or want to have an emergency fund grow over time – mutual funds1 can help you reach your goals. They simplify investing for the average person, who may not have the time or desire to research every stock and bond out there.
Because of the thousands available, trying to choose mutual funds that may be best for you can be pretty intimidating. But it’s not hard to narrow down the field when you understand the basics. You can learn more about how mutual funds work below and when you’re ready, contact us today and?we’ll help you get started.
Get to know how mutual funds work.
What: A mutual fund is a pool of investments usually a combination of stocks, bonds, and cash instruments.
How: They’re managed by professional money managers who often charge a fee. Money managers choose investments based on the objective of the mutual fund. Examples could include growth, income or value investing.
Objectives: Mutual funds are managed based on specific investment objectives. Based on this, you should research mutual funds that fit your investment risk tolerance and time horizon. As an example, if retirement is right around the corner, you may want to select a fund that has less risk exposure, such as bond funds or money-market funds.
Risk: Some mutual funds are low-risk, meaning they can potentially earn less while others are high-risk and can potentially earn more. One way to spread out your risk is to diversify the types of mutual funds you own. Although diversification does not ensure a profit or protect you from loss, you can decide how much risk you are comfortable with to help determine the right mutual funds for you.
Time: Do you have specific goals with different time horizons? Mutual funds offer a variety of options to meet your short and long-term savings goals.
It’s amazing when you really stop and think about all the effort you put into protecting your family. You provide a roof over their head, a safe, loving environment and the encouragement to tackle each day confidently. You do all this naturally because you love them. Life, unfortunately, doesn’t give us any guarantees that we’ll always be around to provide for our loved ones. That’s where life insurance can help. It helps provide some financial security in the event of the unthinkable. With each monthly payment you know you’re helping to protect your family with a way to help cover medical bills, funeral costs, mortgage or rent, college tuition and many other living expenses. That’s peace of mind for you knowing that regardless of what happens, you’ve provided for them.
Retirement savings you can count on.
Consider an annuity1 for steady income payments for life.
Before you retire, you count on a steady paycheck to pay the rent or mortgage and to take care of your needs, big and small. Wouldn’t it be nice to keep a monthly payment during retirement for as long as you live? You may need the security of regular income during your retirement, which could last as long as 20 or 30 years. Purchasing an annuity might be the right answer for you because it can give you the control over how long the annuity is invested, when you receive your benefits and how often you are paid. Talk to the Christian Insurance Agency to learn more about annuity options or get a simple explanation below to help you decide which type of annuity might be right for you.
Get to know how an annuity works.
How It Works: An annuity is a contract between you and an insurance company. The insurance company invests your money for you and depending on your contract and selections that you make, an annuity may be able to provide a regular source of income that you do not outlive.
Tax Advantages: Earnings on annuities are not taxed until withdrawn from the contract, making annuities an attractive savings option for retirement.2
Income Payments: It’s a great way to help supplement what you currently have coming to you—through pensions, Social Security, savings—and what you’ll actually need to live.
Payment Period: Depending on the type of annuity you choose, your payments can last for a set period of time or for the rest of your life. With some annuities, the income can be extended to your spouse after you die.
IRAs make saving for retirement automatic and easy.
A way to start working on a comfortable retirement today.
Saving for retirement can seem like a goal that can wait a few years when you’re busy taking care of life’s day-to-day expenses. But getting started early may help you reach your retirement goals sooner. An Individual Retirement Account (IRA) could be an attractive savings choice to help you reach those goals as it offers some tax deferral and can to help your retirement savings grow faster than similar taxable investments.
We will?make it easier to take the next step. We can help you set up an automatic deposit that goes straight from your paycheck into an IRA. You’ll get used to not seeing or spending that money. And you can start focusing on your financial future while still providing for your family today.
Get to know how an IRA works.
Savings: Think of an IRA as a basket that holds savings, also known as investments.
Investments: You can put investments like mutual funds, stocks, bonds, annuities, certificates of deposit (CDs) or other financial products into your IRA basket.
Benefits: Traditional and Roth IRAs each offer different tax benefits, so talk to your tax advisor or contact us to learn more.
The Christian Insurance Agency can help you choose an IRA which is right for you.
A way to save for retirement that gives you tax benefits. Contributions are taken pre-tax from your paycheck. While you will pay taxes on withdrawals, you’ll likely be in a lower tax bracket when you retire and owe less in taxes on your withdrawals.
Another way to save for retirement. You can wait until retirement to take out your money or withdraw some of your funds without penalty for certain situations like buying your first home or paying for certain medical expenses. You won’t be taxed on those withdrawals because both are considered eligible expenses.
A helpful option for your retirement savings when you leave a job. You can move your savings from your employer’s retirement plan into a direct rollover IRA tax-free. Each time you change jobs or when you retire, you can move that money into this same rollover IRA without paying penalties to keep your retirement savings in one place.
Start a 529 college savings plan for as little as $15.
Give your child the gift of a college education.
A college education can mean a better future for your child. But college is expensive and is becoming more so every year. In fact, in 2028 a four-year private education could cost $300,000 or more.1 The figures may seem daunting, but the good news is that planning ahead and saving now can put the college of their choice within their reach and your budget.
Whether your child is still toddling around the house or already eyeing the keys to your car, every little bit will help him or her go to college. While there are many ways to pay for college, including student loans, scholarships, grants and work-study, a popular, easy way is to fund a 529 college savings plan. You can add as little as $15 with a deposit or have a set amount taken out of your paycheck each time so it’s an expected part of your monthly budget. Plus, anyone can add to your child’s account. Grandparents, friends and even some purchases can help your money grow.
Get to know how college savings plans work.
State-sponsored. Most 529 college savings plans are state-sponsored programs that help you save for college. Through the plan, your money is invested into various options to help it grow with interest. Every state has at least one plan, with many states offering a variety of options. Investors should consider whether the investor’s or designated beneficiary’s home state offers any state tax or other benefits that are only available with an investment in the home state’s plan.
Professionally managed. Each state chooses an investment company to professionally manage its plan, but you can participate in any state’s plan.
Tax-advantaged. Your money grows tax free, meaning you don’t pay tax on the interest it earns.
Flexible use. You can transfer money not used by one child to another child or to yourself, without penalty, to pay for college expenses. You can also choose a school in a state other than your 529 plan state. For example, you can live in Pennsylvania, enroll in a 529 plan in Minnesota and use the funds for a school in Nevada.
Supplemental Health Insurance
Insurance protection can help ease your mind when you’re faced with the need for medical treatment.
You may have health insurance through your employer, but it may not be enough to cover out-of-pocket expenses associated with health conditions. That’s where supplemental health insurance can help. The right coverage can help with doctor bills, hospital stays and even nonmedical expenses like child care and transportation if you’re dealing with an accident, disability, cancer or critical illness. It’s a simple way to help keep you and your family financially secure.
Ready to Learn More?
Contact Christian Insurance Agency today to help you decide on which financial products are best for you and your family!