What Type of Money Do You Have?

There are four types of money. What type of money are you getting, earning, and inheriting? As always, we recommend that you contact your advisor for advisement on your particular situation.

Free Money-Best way to explain Free Money is by example. Although this example is not as popular as it once was, the best example is 401k matched-contributions. If your company still offers these contributions...maximize the match and contact your advisor.

Tax Free Money-Examples include Roth IRAs and Permanent Life Insurance.  A Roth IRA is ideal for many clients. Caps are subject to age and how much a client makes a year will determine if they can start an Roth IRA. A strategy used commonly is funding a personal Universal Life insurance policy and may minimize the tax responsibility. 

Tax Deferred Money–401k's, IRAs, Qualified Retirement Plans, & Deferred Compensation Plans. While there are restrictions and penalties on early withdrawals before 59 1/2 years of age.Contributions are pre-taxed and growth is tax-deferred, withdrawals are at a client's tax rate at that time of withdrawal. 

Taxable Money–While paying with after-taxed dollars for CDs, Mutual Funds, Stocks, you are also being taxed on the gain or income.  

There are strategies to help our clients protect themselves financially, build generational wealth, and leave a legacy. It is never too late to prepare for the future.

Families & widows without enough #lifeinsurance #estateplanning #LIAM18

In insurance, there is not much that is sadder than sitting down with a widow, and possibly the family, after experiencing a death of the breadwinner. What adds to that sadness is if the deceased expired without having or having enough life insurance and/or proper estate planning. 

At a time when the spouse that is left behind should be grieving, having an emotional focus, this spouse has to sort through finances, figure out how to afford final expenses, and to how to continue to pay bills. As the spouse sorts, figures, and plans to pay bills, now he or she must do it without the deceased spouse's pay check. 

Taking a small amount of time, personally, this real-life scenario could have been avoided. Avoiding this scenario could have been a direct result of sitting down with a professional life insurance agent and applying for a simple life insurance policy. Maybe a simple $100,000 policy could have taken care of final expenses, and helped the widow and family to possibly pay off balances and most importantly, focus on grieving. 

We have all experienced death, one way or another. What is also probably true is that most have heard the grieving is the closure that we all need to live and move on, as part of a healthy life. 

What should you do? What should be your next step, if this scenario may be possibly like yours? Contact a life insurance professional, and if you are in the Indiana and Kentucky area, give the professsionals at Advocate Insurers a call.  

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Advocate Insurers @AdvocateInsure1 #2018 #LIAM18 #ethics #lifeinsurance #estateplanning #socialmedia

Advocate Insurers is here and new. However, the foundation, ethics, and momentum are being built. Serving and advocating for both, consumers and clients will always remain the top priority and more importantly, our culture. Building relationships consistently, is an ongoing task within the journey. We look forward to years of doing business for you, successfully. 

Beneficiary designations in #lifeinsurance #estateplanning @jayjones41

Beneficiaries are important to any life insurance policy or most policies, in general. We feel, designations are quite under-served in the insurance world and in the video, you will be given an  example of why they are extremely important. as our company grows, advocating for the client the entire way is our mission. .Click on the link below to hear the example of why current and appropriate beneficiary designation is key! Life insurance is for your loved ones!

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What you need to know before buying #lifeinsurance... read more more from the @Suntimes @LIMRA #LIAM18 @jayjones41

https://chicago.suntimes.com/working/dennis-brown-nancy-coutu-jc-matthews-tatiana-walk-morris-life-whole-insurance-financial-advisor-estate-planning/

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Welcome to Advocate Insurers, Inc. #lifeinsurance #estateplanning @jayjones41

Welcome to Advocate Insurers Blog Page. AI values the client and serves as our main priority. Advocating for our clients is our culture. Evaluations, consultations, research, and simply getting to know our clients and their goals are part of the corporate strategy and the tools we utilize. These tools and strategies help to fulfill our responsibility to our clients.

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