Financial Services | Up North Retirement
As you grow older, your assets should grow with you. By planning in advance, you can prepare for retirement and build your financial portfolio.
We specialize in a variety of insurance and retirement solutions such as personalized pension planning, wealth transfer, accumulation products with little to no risk, and the ability to leave a legacy for your loved ones. We do this all with NO FEES. To help you plan for your future and to ensure you achieve financial freedom, please feel free to contact us today for a free consultation.
There are many different financial services on the market. For example, you could invest in an annuity to ensure a retirement income for yourself in the future. You could also have someone make investments on your behalf or invest in an investment vehicle, like an IRA. Financial services are, in most cases, designed to help you optimize your wealth, so use them as tools to solidify your financial stability.
Annuities are retirement products that allow the person who purchased them to invest safely with high growth potential and guaranteed income.
Annuities are a very useful financial service because they are tax-deferred. This allows you to save more money over time and capitalize fully on the compounding value of your investment. These plans have no IRS contribution limits, so you can invest as much as you like to prepare for retirement. Though, keep in mind that annuities are subject to ordinary income tax when you withdraw them.
Withdrawing from your annuity fund early may result in a tax penalty. If you take money out of the account before age 59 and a half, you will be subject to a 10% IRS penalty. You could also be subject to annual charges that can affect your returns in the long term.
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The Social Security Administration provides financial protection to the American people. You can receive Social Security benefits if you are age 62 or older and you have paid appropriately into the program. Social Security benefits are also provided to people who are retirement age, disabled, or survivors of a deceased veteran.
Social Security is also one of the most successful anti-poverty programs in American history.
These are tax-advantaged investment accounts that you can leverage to save tax-deductible income. In some cases, income withdrawn from these accounts may be tax-free as well. There are several types of IRA accounts available, and they all offer specific benefits. Though, keep in mind that you may face a 10% penalty if you withdraw from the account early. Also be aware that IRAs have annual contribution limits, and you must have earned income recently to contribute to your IRA.
Other financial services include 401k plans and principal protection. 401k plans are defined-contribution plans, which allow employees and employers to make contributions to an account up to a limit set by the Internal Revenue Service. The money in the account is used to invest in an assortment of stock and bond mutual funds. Other investment vehicles may be included as well.
A principal protected note (PPN) is a fixed-income security that guarantees the investor a return equal to their initial investment. This principal balance is protected regardless of how any underlying assets perform.
We are a full-service independent agency that specializes in senior solutions to ensure that our clients achieve financial freedom.