RETIREMENT PLANNING

IRA

An IRA is an individual retirement account. It is designed to do one thing: make you fund your retirement. Of course, no two people have the same retirement needs, so finding a suitable IRA is contingent on two factors: time and your rate of investment. Depending on your age, longer term investment may not be an appropriate strategy. Conversely, if you’ve just entered the workforce, a long term investment is probably a sound decision.

ROTH IRA

Established by the Taxpayer Relief Act of 1997, a Roth IRA is an individual retirement plan that bears many similarities to the traditional IRA. he biggest distinction between the two is how they’re taxed. Contact us to learn if you are eligible for a Roth IRA. At Downey Financial Group we are dedicated to helping you identify the pitfalls and pros of the IRA market.

IRC 403(b) Tax-Sheltered Annuity Plans

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A 403(b) plan (also called a tax-sheltered annuity or TSA plan) is a retirement plan offered by public schools and certain 501(c)(3) tax-exempt organizations. Employees save for retirement by contributing to individual accounts. Employers can also contribute to employees' accounts. 

SEP-SIMPLIFIED EMPLOYEE PENSION

Is a Simplified Employee Pension (SEP) an appropriate solution for you? A SEP doesn’t suffer from some of the costly starting fees associated with other retirement plans. At Downey Financial Group, we can provide the details to help you understand the ramifications and benefits of a SEP.

LONG TERM CARE | LTC HYBRID PRODUCTS

There is no question that people are living longer. Although the life span of Americans continues to increase, many individuals don’t thoroughly plan for how they will support themselves when they reach their golden years. If you are determined to take care of yourself and your living expenses as you get older, and are looking for coverage that will help pay for care, purchasing long term care insurance (LTC) is a must.