Keys for your 40’s
One way to find out if you have sufficient coverage is to get insurance needs analysis. This process will find any gaps in your auto, home, health and life insurance policies, showing you where your weaknesses lie and allowing you to proceed accordingly. One idea you might consider, especially if your assets top $1 million, is purchasing an umbrella insurance policy, adding an extra layer of protection over your auto and home insurance.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual, nor intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.
There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.
Withdrawals from qualified retirement plans and Traditional IRAs are subject to income taxes, and if made prior to age 59 1/2, a 10% penalty may apply.
Withdrawals from the Roth IRA account may be tax free, as long as they are considered qualified. Limitations and restrictions may apply. Withdrawals prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Future tax laws can change at any time and may impact the benefits of Roth IRAs. Their tax treatment may change.
Insurance policy guarantees are based on the claims paying ability of the issuing company.