Wealth Management
WHAT WE OFFER
Our Process
Set Financial Goals
Prioritize Goals
Initiate a Plan of Action
Review and Update The Plan Regularly
Goal of Financial Independence
ESTATE
Estate planning is the process of arranging ownership and use of assets to help meet lifetime financial objectives in a tax efficient manner, and simultaneously help provide for survivors' needs and the disposition of property at death. A carefully implemented estate plan can help to create and conserve assets during life Minimize death taxes and estate settlement costs Assure that cash is available to pay unavoidable taxes and costs Provide an orderly distribution of assets that meets the estate owner's objectives and intentions Provide peace of mind and family harmony.
RETIREMENT PLANNING
Retirement planning is the process of planning for one's income needs during retirement. Usually, there are three main sources of retirement income:
The Retirement Planning section of Advanced Markets Online focuses on employer-sponsored retirement plans and other related subjects. This includes an examination of Qualified retirement plans in all their manifold varieties—defined benefit plans, defined contribution plans of the money purchase pension and profit sharing types, target benefit plans, Keogh plans for the self-employed, and section 401(k) plans Simplified employee pension plans (SEPs) SIMPLE retirement plans Individual retirement accounts or annuities (IRAs), including Roth IRAs Section 403(b) plans, also called tax-sheltered annuities or TSAs Rollovers, direct rollovers, and direct plan-to-plan transfers Section 457 deferred compensation plans for certain employees in the government and not-for-profit sectors of the economy Pension income supplemental life insurance.
EDUCATION FUNDING
The cost of a college education is continuously rising. At the same time, a college degree is a superior investment of both time and money. How and when families begin to save for college makes a substantial difference in the amount of money that will be available and the range of choices a student will have. Starting early gives the money set aside the greatest amount of time to potentially grow. Today there are more tax-advantaged ways to save for college than ever. The best way to save for college depends on diverse factors including how many years away college is, your income, your risk tolerance, how much you have available to set aside for college, further savings and investment plans, and other factors.
INVESTMENTS
BFS offers customized solutions to help you develop a sound, long-term investment strategy. We also provides assistance in funding retirement plans for companies of all sizes, ranging from simple IRAs to full-service defined contribution and defined benefit plans.
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ANNUITIES
An annuity is a unique financial vehicle designed to help people accumulate money for their retirement and/or turn a lump sum of money into a guaranteed stream of income for life. Guarantees are based on the claims-paying ability of the issuing insurance company.
Fixed Deferred Annuities: A Fixed Deferred Annuity is a product that is designed to help you accumulate funds for your retirement. The money in your annuity earns a fixed rate of interest and your money accumulates on a tax-deferred basis, meaning you do not pay taxes on your earnings until you actually withdraw them from your policy. Annuities are long-term retirement savings vehicles. Early withdraws maybe subject to early withdraw charges. Distributions are subject to income taxes and if made before 59 ½ a 10% federal income tax penalty may also apply.
Variable Deferred Annuities: A Variable Deferred Annuity offers the advantage of tax deferral and can be used to accumulate money for retirement. The policy’s accumulated value – and sometimes the amount of monthly annuity benefit payments – fluctuates with the performance of your investment account. There are fees, expenses and risks associated with the contract. Please be aware than assets allocated to the investment divisions are subject to market risks and will fluctuate in value.
Fixed Immediate Annuities: A Fixed Immediate Annuity pays a guaranteed rate of interest, resulting in a guaranteed stream of income where payments begin immediately. Immediate annuities are generally bought with one lump sum payment, which is then "immediately" converted into a series of scheduled payments.
