Unlike a taxable account, a fixed annuity enjoys the benefits of tax deferral. In
addition, many annuity companies offer a higher first year bonus rate. To be able
to offer these higher rates companies typically require you to keep the funds invested
for a period of time or suffer a surrender penalty for early withdrawal.
Health Savings Accounts (HSAs) were created by the Medicare bill signed by President
Bush on December 8, 2003. HSAs are a form of medical savings account that must be
accompanied by a high-deductible health insurance plan. HSAs allow individuals/employers
to set aside money on a pre-tax or tax-deductible basis and then withdraw the money
tax-free to pay qualifying medical expenses.
Long gone are the days of being buried in a pinewood box. Funeral expenses can vary
from several thousand dollars up to $15,000 and more depending on which services
you select. Funeral homes and crematoriums provide a list of expenses some of which
have been enumerated here.
Your chances of becoming disabled are far greater than your chances of dying. It
may surprise you that one out of three individuals will suffer a disability that
lasts at least 90 days. One out of ten will be permanently disabled prior to age
Deposits into an annuity are not tax-deductible, however you don't have to pay taxes
on the interest earned until you begin making withdrawals. This tax-deferral period
can have a dramatic affect on the growth of an investment.