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LISTEN, UNDERSTAND, RESEARCH, HELP. Money management has a new reality. Financial-planning efforts must consider “the whole client.” We offer a multi layer approach that starts with education. We strive to gain your trust then deliver the results you seek. At Gelinas Financial Group, Inc., our passion is supporting our clients by adding value: You need information to make correct decisions. We’ll help you achieve higher levels of success and better process management through cutting-edge solutions, training, mentoring, and continuing education. Our objectivity and independence mean you get the financial-planning and risk-management solutions that meet the unique demands of your present situation. We offer our expertise in the following areas: Financial Planning Retirement Planning Insurance Investment Coaching Annuities More Hope is not a strategy. We meet with our clients regularly to scrutinize their investments and make adjustments.
The flexibility of Multi-Year Guaranteed Annuities
Gelinas Financial Group, GA, MYGA AnnuitiesWhen comparing CD's and multi-year guaranteed annuities here are a few things you should consider. CD: Banks typically issue CD's.  That provides the protection of the FDIC (up to $100,000).  The interest rate for bank CD's tends to be minimal.  Less than 1% in most cases.  CD's are taxed yearly.  You will be penalized if you take withdrawals. With CD's,  flexibility and growth are minimal. Multi-Year Guaranteed Annuities: Multi-Year Guaranteed Annuities tend to be more flexible and have much better growth.  The annuities are issued by insurance company and are not insured by the FDIC.  Do your homework and review the financial strength ratings of the insurance company before any investments.  State guaranty funds protect your multi-year guaranteed annuities-from $100,000-$300,000 (in most states) and up to $500,000 in states like Washington and New York.   You will receive a higher interest rate for the annuities and there are tax benefits also.   Any gains that you receive with your MYGA will not be taxed on a yearly basis, giving you a better return than a bank CD. If, however, you decided to cash out of your annuity before you turn 59 1/2, the IRS will penalize you by taking 10% of the interest gains.  Best option is to roll the money over into another annuity. You can also make withdrawals on the previous year's interest without any kind of penalty. If you want to explore MYGA and other annuities, please bookmark www.directannuities.com. This website is a great resource for current rates and can also help you with the application process.  Content provided by Transformer Marketing & Gelinas Financial Group
Shawna Kreis
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