Filed under: Annuities, Safe Investments, Safe Money, Secure Investments | Tags: Annuities, Annuities for Retirement Investing, Fixed Annuities, Guaranteed Retirement Income, Hybrid Annuities, Investing for Retirement, Norhill Financial, Retirement Investing, Safe Investing, Safe Money Expert, Safe Money Investments, Safe Money Strategies, Secure Investing, Secure Investments, Variable Annuities, Warren Elkin, Zero Risk Investments
In uncertain times, you can’t play it too safe with your money. You need solid, sound, safe and secure investment strategies that will provide for you and your family long after your initial investment is made. One of the best strategies today is the purchase of an annuity. With their unique features like converting your savings into lifetime payments, annuities offer a high level of security for your retirement.
An annuity is a type of investment in which you put in payments for a certain amount of time, or pay one large amount of money as part of a contract. In return, you will receive payments at regular intervals sometime later down the road. Usually, these annuities are obtained through insurance companies or representatives that represent multiple companies. Your contribution is then invested in sub-accounts usually consisting of stocks and bonds. This account then generates income for the insurance company and for you as well, depending on how the contract is structured.
In most cases, annuities are used as retirement vehicles. There may even be penalties if you withdraw money from your annuity before you reach a certain age. Many annuities feature a regular payout that is not affected by market fluctuations. As a result, many people are taking their retirement plans and 401ks and putting them into annuities. This is a very safe investments as that a market crash could eliminate your money entirely. An annuity provides stability, as long as the insurance company issuing the annuity remains viable.
There are two main kinds of annuity: fixed and variable. The fixed annuity offers a payout that is guaranteed and you know exactly what you are going to get and when. It may be a set dollar amount or a set percentage of the assets in the annuity. These types of annuities generally pay a lower rate of return since they are considered relatively safe.
Variable annuities, on the other hand, offer a possibility of higher returns. With a variable annuity, the rate of return varies, and you can boost your returns. However, it is important to be careful with these since, unlike with a fixed annuity, your principal is not guaranteed. That means with a variable annuity you could lose your initial investment.
There are also hybrid annuities that combine aspects of fixed and variable annuities. There are some annuities that guarantee that you can withdraw a certain percentage of your initial account value while you live, while at the same time offering the potential for growth with a variable rate of return.
Warren Elkin of Norhill Financial is your safe money strategist. When it comes to your hard earned dollars, he can keep your money secure as it grows. Warren Elkin can be reached toll free at 877-476-5051- or by email at elkininc@aol.com. To learn more about him check out www.warrenelkin.com.
Filed under: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments | Tags: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments
By Warren Elkin, www.warrenelkin.com
If you have lost or quit your job you will need to make plans to deal with your 401k plan. Too often people are so overwhelmed by their circumstances to understand the full ramifications of simply withdrawing the money. If you withdraw the money you are automatically charged a 25% penalty on the total savings, plus there are additional tax ramifications. Why decimate your retirement fund if you don’t have to?
A smarter choice is to simply roll the monies over to another account, whether it is your new employers 401k, a roll over IRA or an annuity. Putting the money in an IRA offers you the most flexibility in terms of withdrawals and distributions. Annuities offer upfront bonuses and a guarantee of retirement income no matter how long you live. Either way you will want to consult with a financial expert who can differentiate between the different roll over plans and what you require daily.
Should you have any questions, or want to talk to me directly, please call me at your convenience at 877-476-5051 for a complimentary consultation or email me at warren@warrenelkin.com. You can also find more helpful information on my site at www.warrenelkin.com.
Filed under: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments | Tags: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments
By Warren Elkin, www.warrenelkin.com
Reverse mortgages are widely advertised, but when it comes time to research them, there is surprisingly little information about their impact on your financial future.
Reverse mortgages are meant to be a solution for Seniors who have faithfully built equity in their home and now find themselves without enough income to retire. A reverse mortgage allows you borrow against the equity in your home without having to make a monthly payment and without having to move.
There are several things to consider however.
Reverse Mortgages can be expensive. The generally have large closing costs and are always more cost effective over longer periods of time. If you are only planning on staying in your home for a short period of time you might want to consider other options.
There are possible tax implications from getting a reverse mortgage that can affect your eligibility for government assistance and your estate after your death. Make sure you know the facts before signing any mortgage papers.
Government insured Home Equity Conversion Mortgages (HECM) tend to be less expensive than private sector reverse mortgages. Talk to your financial advisor about the differences.
For more information on Reverse Mortgages, contact Warren Elkin America’s Safe Money Expert.
Should you have any questions, or want to talk to me directly, please call me at your convenience at 877-476-5051 for a complimentary consultation or email me at warren@warrenelkin.com. You can also find more helpful information on my site at www.warrenelkin.com.
Filed under: America’s Safe Money Expert, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments | Tags: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments
By Warren Elkin, www.warrenelkin.com
If you’ve been to a financial advisor in the past decade you probably at some time were encouraged to invest in mutual funds. You were probably told that mutual funds are a great safe investment that offers diversification. Then you were probably shown specific funds and shown a brochure that included a bio, sometimes even a picture of the fund manager, who on the brochure looks like the soul of responsibility.
Here’s what you typically don’t hear when you are being offered mutual funds.
Fund Managers are paid bonuses based on the performance of the fund. The shorter the timeline on their bonus, the more likely that your fund manager will take risks with your funds, in order to receive his bonus.
Mutual funds have hidden fees that are not included in their expense ratio. The more often a fund turns over, the higher the costs to the stock holder.
And, as for diversity, buying Mutual Funds does not guarantee diversity. In fact, because funds tend to gravitate to well performing stocks, you may find that a high percentage of your “diversified” mutual funds are actually invested in the same stocks as your 401K and other retirement investment.
Mutual funds have the potential to be a sound investment for some individuals but it is important to know all of the facts and to compare them to other investment strategies to determine what is right for you.
For more information about mutual funds or other investment strategies, contact Warren Elkin, America’s Safe Money Expert.
Should you have any questions, or want to talk to me directly, please call me at your convenience at 877-476-5051 for a complimentary consultation or email me at warren@warrenelkin.com. You can also find more helpful information on my site at www.warrenelkin.com.
Filed under: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments | Tags: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments
By Warren Elkin, www.warrenelkin.com
Twenty five years ago individual retirement accounts were the “new kid” on the retirement investment block. A quarter of a century later, most Americans are familiar with IRAs but would be hard pressed to tell you how the three different varieties can work for them to create a retirement nest egg.
The three main types of IRAs are Traditional IRA, Roth IRA and Simplified Employee Pension (SEP). Each one serves a different purpose and has its individual benefits.
Traditional IRAs are tax deductable in the year contributions are made. While this can mean a smaller tax bill, it also means that the funds will be taxed upon distribution.
Roth IRAs on the other hand offer no tax deduction in the year in which they are contributed, but there is no taxation upon distribution. This allows you to grow retirement funds tax free. However Roth IRAs have income restrictions. If you make more than $95,000 (AGI) as an individual or $150,000(AGI) as a couple, you are not eligible for a Roth IRA. Both Roth and Traditional IRAs have contribution caps yearly.
SEP Retirement Accounts are designed for the self-employed and small business owners. A SEP account allows you to contribute up to 25% of your yearly income (up to $46,000 for 2009). There are other restrictions on SEP accounts based on other criteria.
For more information on IRA accounts contact Warren Elkin, America’s Safe Money Expert.
Should you have any questions, or want to talk to me directly, please call me at your convenience at 877-476-5051 for a complimentary consultation or email me at warren@warrenelkin.com. You can also find more helpful information on my site at www.warrenelkin.com.
Filed under: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments | Tags: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments
By Warren Elkin, www.warrenelkin.com
The current market holds many pitfalls for the soon to be retiring. There are many equations floating around about what percentage of your income you will need in order to retire on time and not outlive your money. Unfortunately these equations are not always accurate and they frequently assume that you won’t be needing a great deal of health care of dental care past the age of 65. I doubt that you have worked hard your entire adult life to discover at the age of 70 that you can’t afford a simple trip to the dentist and yet it happens to some seniors. One thing you can do to protect yourself from devastating medical bills is to acquire supplemental health insurance now.
Another important consideration in your retirement plans should be inflation. What it costs to live to today will more than likely not be the same as what it costs to live in fifteen years. If you are on fixed income, how will you account for inflation?
One of the scariest consequences of faulty retirement planning is the notion of outliving your money. Are you betting that you will only live fifteen years into your retirement? What happens if live longer? Is there a possibility that you will outlive your retirement funds? This is a nightmare looming over many senior citizens heads. Remarkably, it doesn’t have to be a concern. There are easy solutions to these problems that offer guaranteed interest rates and the assurance that you won’t outlive your money.
For more information on these and other types of safe investments contact Warren Elkin, America’s Safe Money Expert.
Should you have any questions, or want to talk to me directly, please call me at your convenience at 877-476-5051 for a complimentary consultation or email me at warren@warrenelkin.com. You can also find more helpful information on my site at www.warrenelkin.com.
Filed under: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments | Tags: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments
Warren Elkin/ www.warrenelkin.com
Does your retirement fund need protection? It’s worth it to take a look at your current retirement portfolio and determine what steps need to be taken to protect your investments against further losses. There are many different choices you can make based on your current retirement savings status. The smartest thing to do is consult with a financial expert who understands the unique challenges facing investors about to retire.
One expensive but effectual way to prevent future losses is buying insurance on a portion of your portfolio called a put option. For a fee you can determine the margin beyond which you would like to be insured. If the stock were to go lower than that predetermined number and you were to sell it you would be guaranteed what ever amount you had insured for. This insurance can be cost prohibitive so buyer beware.
Currently one of the easiest and most secure ways to protect your retirement funds is to buy into a government regulated, interest guaranteed annuity. These funds provide peace of mind as they have a provision that ensures that you can’t outlive your money. The guarantee ensures that you are making money even in a weak market, but allows you to benefit in strong market as well. Isn’t that the kind of guarantee you want for your retirement funds?
Grow your retirement fund while protecting your investment, call Warren Elkin, America’s Safe Money Expert.
Should you have any questions, or want to talk to me directly, please call me at your convenience at 877-476-5051 for a complimentary consultation or email me at warren@warrenelkin.com. You can also find more helpful information on my site at www.warrenelkin.com.
Filed under: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments | Tags: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments
By Warren Elkin/ www.warrenelkin.com
Are fears about retirement keeping you up at night? You know you need a secure income for your retirement years, and the knowledge that you don’t have much time left is weighing on you. To complicate matters the market continues to barrage your current retirement savings. What are your options for retirement income? One thing is for sure, you need to make sure that you are diversified. 
Take a quick look at your current retirement situation. In all likelihood you will have some social security benefits coming to you, you might also have a pension or a 401k, do you have any IRA accounts? Mutual Funds? One smart way to secure income for your retirement years is a government regulated, guaranteed interest rate annuity. Annuities are a great way to diversify while giving you a safe investment with a reasonable rate of return.
Where else can you go in today’s market to get a guaranteed minimum 7% interest rate, more if the market performs better? Isn’t it time you put your worries aside and secured your financial future? Contact Warren Elkin, America’s Safe Money Expert today to find out how you can safely grow your retirement.
Should you have any questions, or want to talk to me directly, please call me at your convenience at 877-476-5051 for a complimentary consultation or email me at warren@warrenelkin.com. You can also find more helpful information on my site at www.warrenelkin.com.
Filed under: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Safe Money, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments | Tags: America’s Safe Money Expert, No Risk Investments, Retirement Investing, Safe Investments, Senior Citizen Careful Money, Senior Investing, Warren Elkin, Warrenelkin.com, Zero Risk Investments
By Warren Elkin/ www.warrenelkin.com
Confused about what to invest in with retirement just around the corner? Fearful about losing your hard earned nest egg? One safe investment option for seniors approaching retirement is an annuity. Annuities are great investment vehicles if you are seeking guaranteed income for the rest of your life. Right now there are strictly government regulated annuities on the market that offer a guaranteed interest rate. 
Choosing the right annuity can grant you principal protection and inflation protection. Annuities are ideal for anyone who is concerned about outliving their money. Annuities are also inexpensive in terms of fees and taxes.
Annuities can be purchased through a lump sum or by making regular payments over a period of time. Many come with an upfront bonus of between 5 and 10% on the initial deposit and some offer a 5% bonus on any deposits in the first year.
Unlike IRAs there are no limits on the amount you can invest in an annuity. Like a Roth IRA your funds grow tax-deferred. Annuities do not require probate upon death and are creditor proof.
To find out what annuity is right for you consult a financial expert such as Warren Elkin, America’s Safe Money Expert.
Should you have any questions, or want to talk to me directly, please call me at your convenience at 877-476-5051 for a complimentary consultation or email me at warren@warrenelkin.com. You can also find more helpful information on my site at www.warrenelkin.com.
Norhill Wealth Strategies 