Beamalife Blog

taxes

What You Need to Know About Annuities and Taxes

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Annuities are tax-delayed. ... This ensures that taxes are not due until you collect income from your annuity. Withdrawals and lump-sum payments are classified as ordinary income. They don't profit

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Certificates of deposit

Annuity vs. CD: What’s the Difference and Which One Should You Choose?

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CDs and annuities individually. FDIC insures CDs up to $250,000 while state insurance commissions oversee fixed and indexed annuities. ... Annuities, however, provide tax-delayed growth, meaning you won't have to

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retirement plan

Annuity vs. IRA: Which is Better for Retirement?

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Both IRAs and annuities provide tax-advantaged insurance for retirement. An IRA is an account containing retirement savings, while an annuity is insurance. Annuities typically have higher costs and expenditures than

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annuity

Annuities Explained, and its Pros and Cons

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Retirement annuities have a very broad spectrum of investment products. The idea behind these products is to provide streams of income upon retirement. While there are numerous benefits associated with

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planning

What Are the Allowable Self Employment Plan Contributions

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You will contribute up to 25% of your adjusted net earnings from self-employment to an SEP IRA or annual dollar cap, whichever is lower. Contribution caps vary by program form

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puzzles

What are some Advanced Life Insurance Strategies Out There for Me?

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Choosing the right strategy over time minimize taxation as well as enhance estate and legacy for heirs. There are several aspects of the legislation that make insurance planning highly effective

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life saving

What are the Advantages of Investing in Life Insurance

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Is life insurance a smart investment? Life insurance pays your loved ones once you die. So, do you really need it? It does not benefit you, anyway. Some people view

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finding consultant

What are the Advantages of Financial Planning

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Financial planning comes along with numerous benefits for individuals and businesses for future planning. Having savings in the bank is helpful to businesses and individuals, especially during tough times. How individuals

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family

529 plan vs Life Insurance: What to Invest?

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Should I buy or invest in the life insurance or a 529 plan? Your financial goals, obligations, and flexibility are essential elements when choosing a life insurance or 529 plan.

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retirement

What is Advanced Life Deferred Annuity and How Does it Work?

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ALDA (Advanced Life Deferred Annuity) is longevity insurance. An ALDA is a long-term deferred annuity that does not pay out until you reach an advanced age. How advanced? It could

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