Everyone needs a financial plan

Retirement

Traditional IRA

Even if you’re eligible for an employer sponsored retirement plan, a Traditional IRA can be a great way to supplement retirement income. Traditional IRA contributions are not taxed as income until they’re withdrawn at the time of retirement. This can lower the amount of taxes paid in the year the money is contributed, though when it comes time to withdraw the money it will be taxed as income.

Roth IRA

The advantages of Roth IRAs are almost the opposite of traditional IRA benefits. You can’t make tax-deductible contributions to a Roth IRA, but the money you put in a Roth IRA grows not just tax-deferred, but tax-free. In other words, you won’t have to pay any federal taxes on your earnings when you take money out, provided you meet certain requirements. 

Qualified Retirement Plan Rollovers

Qualified Retirement Plan rollovers are tax-free transactions in which your balance in a tax-qualified employer-sponsored retirement plan, such as a 401(k), tax-sheltered annuity 403(b), or governmental 457(b) plan, is rolled over to another tax-qualified account such as an IRA. When done properly, a rollover will preserve the tax-sheltered status of the retirement assets.

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Consult your own tax, legal and accounting advisors before engaging in any transaction. 

Investments

Stocks

If you choose to include stocks in your investment portfolio, this makes you a part owner, or shareholder, with a small stake in the companies that issue the stock. Many investment portfolios include a variety of stocks, to assure balance and diversification.

Bonds

Bonds are commonly referred to as fixed-income securities. Companies or governments raise money by issuing bonds to investors who then become debt holders. Bonds are designed to provide income to the bondholder in return for lending the money to the issuer. They can be a great way to both earn income and reduce risk.

Mutual Funds

Mutual funds are professionally managed pools of investments that allow participation by a number of investors. Investors participate proportionally in the gains and losses of the fund. There are many kinds of mutual funds from which to choose, each one based on a set of investment guidelines. Mutual funds provide an opportunity for the average investor to participate in a broadly diversified portfolio of investments.

Education

529 plans (qualified tuition plans) 

Also known as "qualified tuition plans," 529 plans are tax-advantaged savings accounts designed to encourage saving for tuition and related fees and costs. There are two types of plans: pre-paid tuition plans and college savings plans. Depending on the type of plan, eligible expenses may include tuition, mandatory fees, books, computers, and room and board.

Coverdell Education Savings Plans

Commonly referred to as an "education savings account" or a "Coverdell ESA" these accounts are tax-advantaged investment accounts designed to encourage savings to cover future education expenses. Qualified expenses for these accounts include elementary and secondary education in addition to higher education expenses such as tuition and fees.

Retirement

Life Insurance

Life insurance may be an important part of your retirement, estate or business plan, or simply offer peace of mind. Life insurance provides income to beneficiaries in the event of a policyholder's death. With many different types of life insurance policies, including term life, whole life, and universal life, it is important to choose the right type of coverage for your needs.

Long Term Care

Long-term care insurance can be an important financial planning tool. It is designed to cover extended care costs that are not normally covered by health insurance, Medicare, or Medicaid. Qualified costs covered under the plan often include living assistance, therapy sessions, or nursing homes.

Disability Income Insurance

Often called "income protection", disability income insurance provides protection against the risk that a disability will prevent the insured from being able to complete the core functions of their work, and provides replacement income under such circumstances.

Annuities

An annuity is a contract that guarantees a series of payments in exchange for a single lump sum investment or series of investments. The amount and frequency of your distribution payment can be tailored specifically to your needs. Annuities are often used to provide a steady stream of income during retirement.

Products offered through Alaska USA Insurance Brokers, LLC, are provided by various carriers and are an obligation of the issuing company. They are not obligations of or deposits to Alaska USA Federal Credit Union or its subsidiaries, and are not insured by the National Credit Union Administration or any other agency of the United States. Some products not available in all states.