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How to Invest to Travel in Retirement?
Manage episode 408427704 series 3033836
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What should be our strategy so my husband and I can travel in retirement, live comfortably, and leave a good sum to kids and grandkids? On this week's Get Ready For The Future Show, we're answering YOUR questions!
I know LTC (long-term care) coverage is expensive, but should I get it anyway? What's the difference between a fixed and variable annuity? What are the parameters for backdoor Roth contributions?
And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com!
Originally aired 3/20/2024
Disclosures:
All investing involves risk including loss of principal. No strategy assures success or protects against loss. Diversification does not protect against market risk.
Fixed and Variable annuities are suitable for long-term investing, such as retirement investing. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to age 59 ½ are subject to a 10% IRS penalty tax and surrender charges may apply. Variable annuities are subject to market risk and may lose value.
Riders are additional guarantee options that are available to an annuity or life insurance contract holder. While some riders are part of an existing contract, many others may carry additional fees, charges and restrictions, and the policy holder should review their contract carefully before purchasing. Guarantees are based on the claims paying ability of the issuing insurance company.
Contributions to a Roth vehicle offer tax deferral on any earnings in that account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Limitations and restrictions may apply.
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