Magnolia Wealth Strategies - Shalimar, FL
Magnolia Wealth Strategies – Shalimar, FL 32579
Financial Services to Help You and Your Business
No matter what financial circumstances you are in, our Financial Services Representative in our Shalimar office is here to help you through the ins and outs of life’s many events. Our financial services and products can help you plan and weather any of the inevitable events and changes that happen throughout life, both personally and professionally.
529 College Savings Plan
A 529 college savings plan is a tax-advantaged way to save for college and pay for higher education expenses. Unlike some other savings vehicles, a 529 college savings plan may allow you to make sizable contributions. The funds may generally be used for any qualified college or higher education expense.
If you need a tax-deferred investment to provide a guaranteed stream of income for life or a specified number of years, it might be worth considering an annuity. An annuity is a contract between an insurance company and an annuity owner. In exchange for a purchase payment, or series of payments, the insurance company guarantees to pay a stream of income in the future.
Disability Income Insurance
A sudden interruption of income-due to an extended period of sickness or injury-can have serious financial consequences for many of today’s employees. You may receive group long term disability benefits through your employer. However, you will need to make sure the benefits available through your group long term disability coverage are adequate for your needs. An individual disability income insurance policy can help supplement your group long term disability benefits and protect a larger portion of your income. Disability income insurance policies have exclusions and limitations.
Individual Retirement Account (IRA)
An IRA is a tax-deferred personal savings account that allows you to save for retirement without a company-sponsored plan. Throughout your lifetime, you can make tax-deductible “contributions” to your IRA, which you can then invest in basic securities such as stocks and bonds. With a traditional IRA—the most common type of IRA—income taxes are deferred until you withdraw them, so you don’t pay annual federal (and, in many cases, state) income taxes on your earnings.
The purpose of life insurance is to help provide your loved ones with financial protection after you die, in exchange for the premiums you pay to your insurer during your lifetime. Some life insurance policies can provide you with financial protection for the short term, while others accumulate cash value, offering a living benefit that can be used for supplemental retirement income, funding for a child’s education, or cash for emergencies.
Mutual funds are professionally managed portfolios of stocks, bonds or other securities that pool the money of a group of investors who have common financial goals. The value of mutual fund shares will fluctuate so that when redeemed they may be worth more or less than their original cost.
SpecialCareSM is a program that provides access to information, from what you need to know in order to provide the best care to your loved one, to how to manage the needs of yourself and other family members. If you are caring for a person with a disability or other special need—a spouse, a child, sibling, dependent parent or other relative or friend—you should consider our SpecialCareSM program.
A trust is a fiduciary arrangement through which the trustee manages assets for the benefit of third parties. A trust is commonly used to transfer wealth to heirs or to favored charitable organizations. Insurance products, such as life insurance policies, annuity contracts and disability policies, may be used to fund trusts in appropriate circumstances.