Retirement Planning Products from Holland Financial in Ormond Beach, Palm Coast & Lake Mary

Retirement Planning Products

IRAs, Roth and Traditional

Traditional IRA (or Individual Retirement Account) is a tax-deferred, custodial account which allows an individual to put money aside each year while working. Contributions can be fully deductible for those who do not participate in an employer-sponsored plan, or who fall within certain income ranges. Withdrawals, when taken at retirement, are treated as ordinary income and taxed as such.

Roth IRA is a special type of IRA that provides for "after tax" contributions. As long as certain requirements are met, withdrawals taken at retirement may be tax free. Not only do we offer these types of IRAs, but we can also analyze your current Traditional IRAs to determine if you should consider converting to a Roth. In 2010 the tax laws changed making the conversion an option for many who were previously ineligible.

Annuities

An annuity is a type of insurance product which is designed to provide income during retirement. Money is invested into an annuity and in return, at a specified time in the future, the annuity will provide income back to the individual. There are several factors which will determine the size and frequency of these payments.

There are two types of annuities: deferred and immediate. A deferred annuity will accumulate money until the time when you are ready to begin withdrawing. With an immediate annuity you may begin taking withdrawals right away. Within these two groups, annuities can either be fixed or variable. A fixed annuity pays a guaranteed rate of interest, while a variable annuity pays based on performance tied to a selection of investments.

401(k)s and Pensions

Many companies offer 401(k)s and pensions as part of their benefits package. At retirement these funds can continue to be held in the employer's account or with our help, they can be rolled over into a self-directed retirement plan. We give you a wide range of investment choices and recommendations for your retirement account based on the information you provide to us.

Long-Term Care Insurance

We understand it is hard to think of yourself (or your spouse) as not being self-sufficient. It is one reason, however, to have the right plan in place. We can incorporate measures into your plan that will provide for Long-Term Care should you require nursing home care or similar services.