BROKERAGE AND INSURANCE FAQ

Yes, a brokerage account allows us to track your investments and report the required information to the Internal Revenue Service. Confirmation Statements and Monthly Statements are sent to you to document the investment activity in your account. An Investment Executive can set up an account for you and help you with your transaction very quickly.

It is best to have securities remain with the Broker/Dealer (in our case PrimeVest Financial Services) for safe keeping. This is often referred to as ‘held in street name’. The detail reporting on your securities is sent to you monthly if there is account activity, or quarterly. If securities are issued in paper form, they should be kept in a safe deposit box because replacement of lost securities is expensive and time consuming.

Investing can be intimidating but it is the important first step to building a secure financial future. You need to identify your financial goals, this will determine how much you need and when, and also will help to determine the appropriate investments to use. We have Investment Executives that can help with the planning and guide you through picking investments for your future. Please make an appointment today.

Your Investment Executive can help you pick investments that will allow you to grow your assets while minimizing your taxes. Part of your investment planning will include managing taxes through tax deferred or tax free investments along with other strategies to minimize taxes. ^*

In order to live comfortably after retirement, you must determine how much you will need to support your lifestyle. Often this is around 80% of what you were spending before retirement. Your Investment Executive can help you determine what will be required and help set up a plan to build your retirement funds. A good plan needs to be reviewed from time to time to make sure it keeps up with changes that have occurred.

The Required Minimum Distribution (RMD) is the amount the IRS requires you to withdraw from your Traditional , SEP or SIMPLE IRA each year starting when you turn 70 ½. The contributions made to a Traditional IRA are allowed to grow tax-deferred so you do not have to pay taxes on the income you have made until you withdraw the money. It is expected that you will withdraw regularly in retirement and pay taxes on the money you have accumulated. ^*

When you leave an employer for whatever reason, you generally can do a rollover with your 401k to a Traditional IRA. Very often this makes sense because you may not get adequate information on the plan after you leave the company because you are not invited to employee meetings to discuss the plan and any changes that might take place. The investments might not be the best ones or the best selection to meet your needs. Your Investment Executive can discuss the advantages that a rollover might have for you.

It is very important to review your life insurance needs periodically. Things change as we go through life and the life insurance plan needs to reflect these changes. Sitting down with an Investment Executive is the best way to make sure that your plan will take care of the people you love should something unexpected happen. The Investment Executive can review your needs and make sure your coverage is adequate and includes the right products.