Common sense planning for the future! We start the journey with you by taking the time to listen and truly understand you personally. Together, we carefully chart a course to pursue your financial success. We recognize that each person’s situation is different, so we develop a financial plan that focuses on helping you accomplish your personal goals.
Horizon Insurance has partnered with Pillar Financial to help give you the highest level of service possible. We offer a range of products to help you build and secure your future. Whether your financial future includes paying college tuition, purchasing a new home or retiring with security, we look forward to helping you reach your goals.
Some of the products you might wish to consider:
• Traditional IRA
• IRA Rollover
• Roth IRA
• Education IRA
• 529 College Savings Plan
• Mutual Funds
• Employer Retirement Plans (i.e. 401 (k) plans, etc.), see Business/Qualified Retirement Plans
• Variable Universal Life Insurance, see Life/Health Insurance
Traditional IRA: This is a tax favored account that allows anyone under the age of 70 1/2 who has earned income from employment to contribute up to $3,000 per 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.*
Types & Uses of Retirement Plans for Business/Group/Employees*
Simplified Employee Pension (SEP) Plan: For self-employed people and small business owners who wish to make tax-deductible contributions of up to $40,000 or 25% of their income, whichever is less, and that of their eligible employees.
The primary reason of Estate Planning is to accomplish the distribution of assets, to whom you wish minimizing taxation. Having a successful estate plan assures your wishes for your heirs. The initial planning process includes taking an inventory of your assets and discussing with your trusted advisors, such as attorneys and accountants, your goals for the future.
Below is a brief list of items that should be considered to when taking inventory of your assets:
• Real Estate (home or other real estate ventures).
• Savings (bank accounts, CD’s or money markets).
• Investments (stocks, bonds, mutual funds).
• 401(k), IRA, pension and other retirements accounts.
• Life insurance policies/annuities.
• Ownership in a business(es).
• Motor vehicles (cars, boats, planes).
• Other personal property of worth.
The planning process is one that takes time and is ever changing. However, most people assume that estate planning is for the wealthy. Your loved ones are at risk of losing all that you have built in your lifetime. Without proper planning, you are in danger of the following:
• The transferring of your assets will be decided by the laws that govern your state.
• Court appointed administrators make the decision; where, who and how much of your assets are distributed. As well as receiving expenses for their work and a deduction to the total amount that could be given to your loved ones.
• When children are involved, it could result in a court appointed guardian.
• A family owned business could be sold without the families consent.
• Unnecessary estate taxes can be relinquished and administrative services can be incurred and deducted from your assets.
Note: As stated in our “Terms of Service” (TOS) agreement, descriptions of insurance coverage on this web site are for informational purposes only and may not apply, or be included on your policy. Please contact us to confirm coverage provided on your insurance policy or policies you are contemplating purchasing.