Archive For The “Personal Finance” Category
Getting Married? Here’s What You Need To Know…
By Jorge Hiram Garcia, Your Insurance Advisor | May 12, 2012
Thinking of getting married? Here’s what you need to know about your future partner, and his or her financial situation. They say love is blind, but if you walk into marriage blindly, you can end up in a financial mess not of your own doing. It is advisable to discuss potential financial concerns like bad [...]
Common Estate Planning Mistakes to Avoid
By Jorge Hiram Garcia, Your Insurance Advisor | March 6, 2012
Common Estate Planning Mistakes to Avoid Estate planning can be a confusing topic for many Americans.It is not uncommon for most people to make mistakes with their plans. Sadly, many financial and insurance professionals fail to advise their clients properly in this area. Here are some common mistakes that even the professionals fail to spot, [...]
Teach Your Child Financial Literacy
By Jorge Hiram Garcia, Your Insurance Advisor | February 28, 2012
Financial literacy means to have the ability to understand not just how money works, but also how to make financial choices, planning for future needs and wants, and managing life changing events such as the loss of a job, planning for retirement, paying for a wedding or paying for college. Financial literacy can also have [...]
A Quick Review of the IRA Contribution Rules for 2011 as of February 2012
By Jorge Hiram Garcia, Your Insurance Advisor | February 15, 2012
A taxpayer who has earned income from a job may be eligible to make an IRA contribution. However, that taxpayer might not be eligible to deduct the traditional IRA contribution, make the contribution to a Roth IRA, or make a contribution to a spousal IRA. If the taxpayer is age 70½ or older by the [...]
Good News for Your 2011 Tax Return
By Jorge Hiram Garcia, Your Insurance Advisor | February 15, 2012
There’s still time to make 2011 IRA contributions If you’re just beginning to think about completing their 2011 income tax returns, they you might also be thinking about doing some last-minute tax planning. A popular move at this time of the year is to make a last minute contribution to yoru IRA. 2011 IRA contributions [...]
Government Promoting Annuities…Finally
By Jorge Hiram Garcia, Your Insurance Advisor | February 9, 2012
Annuities are a great vehicle for retirement savings because they can help us make sure we have a guaranteed stream of income for a set period of time. We can even make sure we have a guaranteed income stream for life. The feds are now promoting annuities for these exact features to help retirees ensure [...]
Annuities: What is a Charitable Gift Annuity
By Jorge Hiram Garcia, Your Insurance Advisor | June 17, 2010
A Charitable Gift Annuity is a type of Single Premium Immediate Annuity. Charitable Gift Annuities can be a great way to for the average person to help or contribute a significant amount of money to their favorite charity or church. With a Charitable Gift Annuity, a person can transfer cash, or marketable securities to a [...]
Annuities: How Does A Single Premium Immediate Annuity Work?
By Jorge Hiram Garcia, Your Insurance Advisor | June 3, 2010
When you buy an annuity, you pay a certain amount of money called an insurance premium. This premium can be paid all at once in the beginning (called a single premium annuity), or it can be paid in installments (a flexible premium annuity). When an insurance company receives the premium from you, the premium is gathered and collected, or pooled, with the premium paid by all of the other people that buy annuities from the insurance company.
Annuities: What is A Single Premium Immediate Annuity?
By Jorge Hiram Garcia, Your Insurance Advisor | May 24, 2010
A Single Premium Immediate Annuity (SPIA), out of all of the annuities that we have talked about, is the one that is most insurance-like of all annuities. As we discussed before an annuity protects you from running out of income, or money, before you die. When you buy a single premium immediate annuity you are protecting yourself by assuring yourself a source of income for the rest of your life.
Annuities: Flexible or Single Premium Annuity
By Jorge Hiram Garcia, Your Insurance Advisor | May 23, 2010
Annuities create income security for consumers by providing guaranteed income for life, or for a predetermined period of time. This period of time is set at the time of purchase in the annuity contract between the purchaser and the insurance company. The money used to fund the annuity purchase is called the premium. When the [...]
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