Freedom Financial Systems

Planning for retirement is a multistep process that evolves over time. To have a comfortable, secure, and fun retirement there is a need to build a strong financial cushion. Planning for retirement starts with thinking about your retirement goals and how much time it will take to meet those goals. Also, retirement is not as easy as it may sound. You also have to consider health insurance. This article will give you an insight into different plans and ideas that should be considered before retirement #RetirementSavings #InsuranceAgency #InsuranceMarketingAgency #AnnuityInvestment #Annuity #RetirementPlan #Retirement

A progressive taxation structure is one that imposes a lower tax rate on low-income earn compare to higher-income earners. The rationale behind this is that people who have a lower income will be able to spend a greater percentage of their income to maintain their standard of living instead of paying hefty taxes. Those who are richer can typically afford the basic necessities in life and therefore they can be subject to higher tax rates. The tax system of the United States is basically considering a progressive nature

You might not think about it now, but in the future, the chances are high that you may need some help in taking care of yourself. How will you pay for your medical needs? You can buy long-term insurance to prepare yourself for any medical mishaps. Long-term insurance plans cover those areas that regular health insurance doesn’t pay attention to. This includes assistance with routine or daily activities like dressing, bathing, sanitary services, laundry, and many basic needs. Long-term insurance covers the cost of necessities when you have any disease or disorder. Most long-term care insurance policies will help you pay for services like #RetirementSavings #InsuranceAgency #InsuranceMarketingAgency #AnnuityInvestment #Annuity #RetirementPlan #Retirement

Believe it or not, a Roth IRA is an excellent way to save your money for your retirement years. This saving account allows your investment to grow tax-free. A Roth IRA is similar to a Traditional IRA, however, the only difference between the two is how they’re taxed. Roth IRAs’ contributions are not tax-deductible; but, it allows you tax-free withdrawals of your money upon satisfaction of certain conditions. With traditional IRA deposits, you get a tax deduction on your contribution but you have to pay at the time of withdrawal of your money. Of course, like other tax-advantaged retirement accounts, ROTH IRA has some specific rules which you need to know for 2020 #RetirementSavings #InsuranceAgency #InsuranceMarketingAgency #AnnuityInvestment #Annuity #RetirementPlan #Retirement

The current pandemic has caused people to lose their employment. This unexpected loss in income has caused many to tap into their savings. According to a survey by Magnify Money & Lendingtree, three out of ten Americans have tapped into their retirement savings in the last two months. The survey also shows that people mostly spent that money to pay for groceries and housing bills. One of the reasons people are dipping into their retirement savings is the new provisions of the... CARES Act. The CARES Act allows people to access their 401k or IRA during the pandemic without any penalty. The Act covers many people, including those who have become unemployed due to COVID-19. However, financial experts say that early access to your retirement funds is not an ideal option. However, it might be a necessary option if you have been jobless for the last six months and do not have money to fulfill the basic needs of yourself & your family #RetirementSavings #InsuranceAgency #InsuranceMarketingAgency #AnnuityInvestment #Annuity #RetirementPlan #Retirement See more