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| Financial Services | Business Group Plans | Estate Planning |
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Financial Services Common sense planning for the future! We
offer a range of products to help you build and secure your future. Whether
your finanacial future includes paying college tuition, purchasing a new
home or retiring with security, we look forward to helping you reach your
goals. Traditional
IRA: This is a tax favored account that allows anyone under
the ago of 70 1/2 who has earned income from employment to contribute
up to $3,000/year, and is subject to certain income conditions. These
contributions are tax deductible, though earnings are tax-deferred.
Withdrawals are taxable and are required to begin at the age of 70
1/2. If you withdraw from the account prior to age 59 1/2 a tax penalty
may apply and there are federal restrictions.*
IRA Rollover: This is a tax favored account which savings are transferred from an existing, qualified retirement plan (i.e. 401 (k) plan) to a Traditional IRA. Though contributions and withdrawals follow the guidelines as a Traditional IRA.* Roth IRA: This is a tax favored account that allows anyone, regardless of age, with earned income from employment to contribute up to $3,000/year, and is subject to certain income conditions. Contributions are not tax deductible. Earnings are tax deferred. Withdrawals are tax-free under certain conditions, but if you withdraw from the account prior to age 59 1/2 a tax penalty may apply and there are federal restrictions.* Education IRA: A tax favored account that allows anyone to contribute on behalf of a child. These contributions can not exceed $2000/child per year. Limitations do exist on the contribution of any one person.* Annuity: This is a contract with an insurance company that you agree to deposit a specific amount of money with that insurance company. The insurance company agrees to pay a fixed rate of interest on your funds, as long as the contract exists. The interest you earn accumulates as tax deferred. Also available are variable annuities which pay a variable rate of return. Withdrawals are taxable and if you withdraw from the account prior to age 59 1/2 a tax penalty may apply and there are federal restrictions.* *Our agency does not provide legal or tax advice. For specific legal or tax advice based on your situation, please contact your attorney of tax advisor. . |
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AGENCY
LICENSE # 3664 |
Copyright @ 2007 Harris County Insurance Center - All Rights Reserved Offices in Houston, Baytown, and Pasadena Texas. | |
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