At LKT Dynasty, we know you want to be financially secure and protected. In order to have that, you need a clear plan that eliminates your risk while building wealth. The problem is, there are too many options when it comes to financial planning which makes you feel overwhelmed and unsure of what the best path is for you. Our Agency offers a list of services to help make your life less stressful.
An eligible qualified rollover distribution is a distribution from a qualified retirement plan to another qualifying retirement plan. This type of rollover allows you to continue deferring your taxes.
Example of this type of rollover is retiring or leaving a career with a 401k.
Non-Qualified Money simply means it is money that has already been taxed.
In some cases a client will need to transfer funds instead of a rollover, simply put that means we are transferring money to the same type of vehicle. IRA to IRA.
Example of a transfer is moving funds in an IRA to another IRA vehicle.
Another Example would be a person has cash sitting in the bank and they would like for it to sit and grow in a vehicle to leave behind or use to kick in additional income later on in life.
Your Family Bank is allowing families to eliminate all debt in 9 years or less. That is including mortgages and student loans.
Here's a shocking fact about money; the average American spends about 60% of his or her lifetime earnings on taxes and interest payments. That means that for every $100 you earn, $60 of it is never really yours. It's paying the government, the bank you borrow money from, and any other institution to which you're paying interest.
You maybe thinking, "Well, that's just the way it is." But it doesn't have to be.
Tax-free wealth is a type of long-term investment which is a plan covered under Section 7702 of the Internal Revenue Code that is designed to provide tax-free income for retirement.
We are able to provide for tax-free wealth/retirement through a life insurance policy. These types of contracts can be used to generate tax-free income for retirement.
A tax-free retirement account or Section 7702 plan is funded through a permanent cash value life insurance policy.
You’ve assumed the greatest responsibility in life—raising your children. As part of that duty, you’re likely contemplating their college education. That’s an undertaking that can overwhelm almost any parent.
One of the advantages of cash value life insurance, like whole life, is that it is exempt from the formula used to determine eligibility for college financial aid. While assets such as brokerage funds and bank accounts are considered countable assets in determining the Expected Family Contribution (EFC) for college, the cash value in a life insurance policy is not. By positioning assets in cash value life insurance, a family can lower their EFC and improve the chances of qualifying for scholarships or grants.
We utilize Life Insurance for the living. Life Insurance is not just a death benefit. We help people create tax-free income, get out of debt in 9 years or less including their mortgage and student loans and create a Family Legacy. Life insurance also allows you to plan for life's unknown's.
What could Life Insurance do for you?
We take the stress out of Medicare. Within Medicare you have 2 distinct paths you can take and our goal is to make sure you clearly understand each of those for you to make the best decision for you.
You should be reviewing your plans with an Agent every year during Annual Enrollment Period.