Retirement Plans

The Croteau Agency, Inc. understands the importance of growing and preserving your hard-earned retirement savings wisely, which is why we encourage you to review your investment portfolio with our planning specialist. There are new products on the market that offer the best of both worlds: return and safety. For example, there are a host of high return retirement savings which guarantee your principle. Today, more than ever, you need safe money advice and you need to trust the prople who invest your money. Let us help you make the right decision so you can have peace of mind.

IRAs

Individual Retirement Accounts were established by the federal government to encourage people to save for their retirement by providing a variety of tax advantages.

Traditional IRA

Contributions up to $2,000 annually may be deductible, and your earnings are not taxed until you start withdrawing money.

Roth IRA

For many people, a Roth IRA may offer greater tax savings and withdrawal flexibility than a traditional IRA. Eligibility depends on income.

Simple IRA

SIMPLE IRA plans are retirement vehicles, maintained on a calendar year basis, for small employers (no more than 100 employees earning at least $5,000 for the preceding year), which permits contributions under a qualified salary reduction agreement.

Annuities

Annuities can provide a series of payments that typically start at retirement and continue for the rest of the contract owner's life. Annuities can provide retirement income for either a fixed period of time or for the rest of an annuitant's life. Retirement income payments can begin immediately with the purchase of an annuity or be deferred to some time in the future.

401(k)

A 401(k) plan allows you to postpone receiving a portion of your salary until you retire. You choose the amount of income you'd like to "send to the future," or defer annually. Advantages of a 401(k) include:

Chance of lowering your income rate by deferring a portion of your taxable income. Ability to access the money for certain situations like buying a house, college fees, or in some hardship situations. Your Social Security contributions and benefits will not be impacted by your 401(k) plan. Your account is transferable—so you can take it with you from job to job

Long Term Care

Long-Term Care has been defined as "medically necessary assistance, recommended by a physician for the treatment of a chronic illness or debilitating injury on a long term basis. Recovery is usually not expected. Care is oriented toward helping a person function, not toward a cure." Long-term care is typically not covered by your health plan, disability coverage or Medicare. Medicaid does cover long-term care, but only after you have used up your assets paying for care.

Contact us today for more information about Retirement

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