TYPES OF RETIREMENT PLANS
Individual Retirement Account (IRA)
Simple IRA Plans (Savings Incentive Match Plan for Employees)
SEP Plans (Salary Reduction Simplified Employee Pension)
Payroll Deduction IRAs
Defined Benefits Plans
Money Purchase Plans
Employee Stock Ownership Plans (ESOPs)
TYPES OF ANNUITIES
These are fixed interest investments issued by insurance companies. They pay guaranteed rates of interest, typically higher than bank CDs, and you can defer income or draw income immediately. These are popular among retirees and pre-retirees who want a no-cost, modest, and guaranteed fixed investment.
These allow investors to choose from a basket of subaccounts (mutual funds). The account value is determined by the performance of the subaccounts, and a rider can be purchased to lock in a guaranteed income stream regardless of market performance — a key hedge if subaccounts perform poorly. These are popular among retirees and pre-retirees who want a shot at capital appreciation in tandem with guaranteed lifetime income.
These are essentially fixed annuities with a variable rate of interest that is added to your contract value if an underlying market index, such as the S& P 500, is positive. They typically offer a guaranteed minimum income benefit, and the chance of principal upside pegged to a market-based index. A drawback is that upside potential is limited by a so-called participation rate, caps or a spread — all methods in which your return in a rising stock market is trimmed. Consequently, buyers of these annuities never keep pace with a robust market. These appeal to retirees and pre-retirees who want to conservatively participate in potential market appreciation without fuss and with downside principal protection.
These are basically a mirror image of a life insurance policy. Instead of paying regular premiums to an insurer that makes a lump-sum payment upon death, the investor gives the insurer a lump sum in return for regular income payments until death, or for a specified period of time, typically starting one to 12 months after receipt of the investment. Payments are typically higher than other annuities because they include principal, as well as interest, and so also offer favorable tax treatment. These are popular among retirees and pre-retirees who need a higher-than-average stream of income and are comfortable sacrificing principal in exchange for higher lifelong income.
These delay payments until a future date (greater than one year). They enable people to increase their income stream later in life for less money because the insurance company is not on the hook as long when income payments are deferred. These appeal to people who want guaranteed income in the future, not now, or who want to create a ladder of income over different periods later in life. For example, they may want to work in retirement but know that eventually, they will stop working and, at that point, and not before, will need guaranteed income from an annuity.
FORMS AND TABLES
New Client Packet
Risk Tolerance Questionnaire
Living Expenses Worksheet
VARIOUS FINANCIAL CALCULATORS
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Investment Advisory Services offered through Investment Advisor Representatives of Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA (www. finra.org) and SIPC (www.sipc.com), to residents of: AL, AR, AZ, CA, DC, FL, GA, IL, KS, KY, LA, MA, MD, MI, MN, MO, MS, NC, NE, NM, NJ, NY, NV, OH, NY, PA, SC, TN, TX, VA, VT, WA, WI, WV, WY. Cambridge and Slate, Disharoon, Parrish & Associates, LLC are not affiliated.
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9724 Kingston Pike, Suite 701
Knoxville, TN 37922
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(865) 357-7374 Fax
126 Stonehenge Drive, Suite C-3
Crossville, TN 38558