Retirement Planning

future value of an annuity is a reciprocal of a sinking fund

The following are reasons acceptable by the IRS for a hardship withdrawal

i) Repairs of primary residences

ii) Funeral expenses

iii) Payments necessary to prevent you from being forced out of your home

iv) Home foreclosures

v) Payments of college tuition & other educational costs such as room & board, transportation, food, etc.

vi) Purchase of principal residence

vii) Unexpected or un-reimbursed medical expenses

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No. But most variable annuities and fixed deffered annuities are backed by the State Gurantee Association, which is a government agency similar to the fdic

How do you get information's on your retirement money from care corporation that you work for.

Withdrawals may be made from a deferred account [such as a 401(k)], but if the person making the withdrawal has not reached the age of 59 1/2 years, he will have to pay income taxes on the amount withdrawn, plus a 10% penalty (based on the amount withdrawn) for early withdrawal. There are a few exceptions where no penalty is assessed (link provided).

You mean qualified. It refers to the tax status of the funds inside it. If funds are qualified that is IRS/investment lingo for pre tax money, such as money in a 401K, IRA, or 403b. Non qualified obviously is money that income tax has already been paid on. Taxes in an annuity are defered until you use the money. In a qualified annuity all of the money would be subject to income tax upon withdrawal. In a non qualified annuity only the gains would be taxed. But since it is tax deferred you pay your income tax rate, not capital gains taxes. The original amount invested is not subject to tax when you withdraw it.

Western National Life Insurance Company (NASDAQ: NWLI) was upgraded recently to an "A" (excellent) rating from "A-" by A.M. Best Company based on a conservative investment portfolio. WNLIC holds "A-" (strong), "A1" (good) and "A+" (strong) ratings from Fitch, Moody's and S&P (respectively).

Despite AIG ownership, history and recent reports suggest that your annuity is quite safe with WNLIC and that you should not worry about the organization's ability to pay.

Which one of the following investment vehicles provides before-tax savings to be used in the retirement planning process?

In a fixed deffered annuity you get principle plus all earned interest.

In an income annuity, you may or may not, it depends on the company and the product chosen. This feature has only been around for a short time. So if it is an old annuity it most likely is set to pay out for a specific length of time, therefore you would not receive the principle back upon death. But the beneficiary or estate would receive the remaining payments.

Increasing the interest rate

Our uncle passed away August 29 Need to know if Life InsurANCE is still active: Earl L Frank accoun t number showing in trust is 281962 with $137,132.00 that shows up on trustee paperwork. please advice thx Radene kasper one of 4 beneficieres. Please reply

e mail : dene9@yahoo.com

The Rule of 90 allows early retirement with no reduction of your pension if the sum of your age plus years of service totals at least 90. Example: Age 58 with 32 years of service = 90.

no.

decreases towards the future value faster

The lifetime exemption was eliminated in 1997.

There is currently a new exemption that allows you to exempt up to $250,000 in capital gains ($500,000 if married filing jointly) if certain conditions are met and can be used as often as every two years.

Usually 1 - 3 working days.

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is my IRA annuity safe from creditors and mortgage foreclosure

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IRA brokerage account don't have trustee. They do have a custodial which would be the brokerage at which the IRA is held at.

The retirement pay of an army major is not known as there is no standard rate of retirement pay. The pay is determined by the type of retirement plan that is chosen.

You should save enough so that eventually you have 8 months' salary in a savings account.

The average cosmetologist retires at the age of 60 or so. They don't have a set retirement schedule but need to provide for themselves.