Mutual Funds

Go ahead and treat yourself to the retirement that you have been dreaming of. Investing in an IRA is another way that you can achieve your goals. The two most popular IRA’s are Traditional and Roth.

  • Traditional – Accounts can be opened by anyone that has earned income up to the age of 70 ½. All of the moneys in the account are “pre-tax” dollars, meaning that when you withdraw funds they will be taxable at that point. You are able to contribute on an annual basis using after-tax dollars and then claim the contribution on your next tax return. Currently the annual contribution limit is $5500. For those over the age of 50, catch-up contributions are allowed bringing the annual limit to $6500. A traditional IRA is subject to Required Minimum Distributions once you have reached the age of 70 ½, and distributions taken prior to age 59 ½ may be penalized as an early withdrawal.
  • Roth – Roth IRA’s are funded using after-tax dollars and no deductions are allowed when filing taxes. The benefit to a Roth is that all earnings will grow free of income tax. The contribution limits of a Roth are the same as above – $5500 per year and $6500 per year for age 50 and over. Withdrawals will be subject to penalties on earnings if taken prior to age 59 ½ and accounts that are less than 5 years old. There are no age based distributions required with a Roth IRA.

Federal income tax laws are complex and subject to change. Neither Nationwide nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.Financially preparing to send a child to college can understandably be a stressful process. 529 savings plans were developed to offer tax advantages to help reduce the burden of paying for a child’s education. These plans will allow you to invest the money you are saving for college in an account that will grow free of taxes on all the earnings. As a quick example – if you invest $50,000 over 10 years that grows to be worth $75,000, the $25,000 will not be taxed if it is used for qualified expenses1. Anyone can contribute to an account including parents, grandparents, friends, or other family, although $14,000 per year per child is the most that any one person can contribute. Contributions are used to purchase mutual funds. 529 funds can be used to pay for most institutions with very few exceptions. The list of qualified expenses is vast so always check to be sure that what you are purchasing qualifies, but does include room, board, and tuition. Any funds not used or spent on ineligible items will be subject to penalties.

Some states do offer tax advantages to residents of that state for investing in a plan that is sponsored by that state. Be sure to check with an advisor to see what is offered where you live.

¹This is example is for illustrative purposes only and is not a result of any specific situation.Providing your employees with quality benefits creates a more healthy and productive workforce. For the typical employee, their largest source of retirement funds can be accumulated in a plan that they participate in at work. There are several benefits to establishing a plan for your business:

  • Great ability to attract/retain employees
  • Help employees prepare for retirement
  • Help business owners prepare for retirement
  • Contributions are tax-deferred
  • Employers matching contributions are deductible to the employerThere are several plan types available to match the needs of a single employee business to one with several thousand employees. Typical plan types are 401(k), 403(b), Profit-Sharing, SIMPLE, and SEP. It will vary by type of plan, but in a standard 401(k) plan there are four parties.
  • Plan Sponsor – the employer
  • Financial advisor –Provides employee education and conduct plan reviews
  • Recordkeeper – Provides access to investments, fiduciary support, and provides participant account statements, as well as on-line tools for account management
  • Third-Party Administrator – Provides plan design, handles IRS filings and compliance issues, administers and processes participant loans

retirement programs graph

No two businesses are the same, and their retirement plans should not be either. Let us consult with you to tailor a plan to your goals.

Federal income tax laws are complex and subject to change. Neither Nationwide nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.Another effective way to keep your employees happy is with a plan that can provide benefits to them through a single business policy. A policy is issued to the business as a Master policy and provides coverage to all eligible employees. Depending on the coverage item, it may even cover their family. Since these plans are issued on a group level, the cost is considerably lower than if it was issued individually. Some benefits can be provided by the employer, and others may be voluntary so that employees can choose what they would like to have.

Employees benefits can provide
  • Life insurance
  • Accidental death and dismemberment
  • Short term disability
  • Long term disability
  • Dental
  • VisionWe will work with you to develop a benefits package tailored to your business and employees that you both will feel secure about.

Get a free insurance quote thats works for you.

Insurance Product of Interest
This field is for validation purposes and should be left unchanged.