Carefully consider the investment objectives, risks, charges and expenses of a fund or sub account before investing. This and other information is contained in the prospectus. Contact Horizon Financial Group, Inc. at 781-444-4141 for a prospectus. Read it carefully before investing.
Variable Annuities
A variable annuity is a contract between you and an insurance company, under which the insurer agrees to make periodic payments to you, beginning either immediately or at some future date. You purchase a variable annuity contract by making either a single purchase payment or a series of purchase payments. The investment options for a variable annuity are typically invested in turn in mutual funds, stocks, bonds, money market instruments, or some combination of the four. Variable Annuities are long term investments designed for retirement purposes. Their value will fluctuate so that upon retirement may be worth more or less than the original cost.
529 College Planning
There are two types of these plans: Prepaid Tuition Plans and College Savings Plans. We represent college savings plans offered through Great American Advisors®, Inc. In state plans usually offer significant tax advantages over out of state plans. The 529 plan is a state-sponsored investment program. The state sets up the plan with an asset management company of its choice, and you open a 529 account with that asset management company according to the state's predetermined plan features. You are the owner of the account, and the child for whom the account is set up is the beneficiary. You won't deal directly with the state, but rather with the asset management/investment company.
Carefully consider a plan’s investment objectives, risks, charges, and expenses before investing. This and other information is contained in the issuer’s official statement available from our financial representatives. Consider whether the investor’s or designated beneficiary’s home state offers any state tax or other benefits that are available in such state’s 529 college savings plan. Read the official statement carefully before investing. 529 plans have a “sunset provision” and are scheduled to end at the end of 2010 unless Congress acts to extend it.
Traditional IRA
A Traditional IRA is a tax-advantaged arrangement that allows earnings and deductible contributions to grow tax-deferred. You don't pay income taxes on the earnings and deductible contributions of your IRA until you begin taking withdrawals, usually after you retire and possibly are in a lower tax bracket. You must not attain the age of 70½ during the year you contribute to a Traditional IRA. You must also have earned income (compensation) in order to contribute to a Traditional IRA.
SEP IRA
A Simplified Employee Pension Plan is a retirement plan specifically designed for self-employed people and small-business owners. When establishing a SEP-IRA plan for your business, you and any eligible employees establish your own separate SEP-IRA; employer contributions are then made into each eligible employee’s SEP-IRA.
Simple IRA
A Savings Incentive Match Plan for Employees of Small Employers is an IRA-based plan that allows employees to elect to defer a part of their salaries into the plan for retirement. Because this is a simplified plan, the administrative costs should be lower than for other, more complex plans. Under a SIMPLE IRA plan, employees and employers make contributions to IRAs set up for employees, subject to certain percentage-of-pay and dollar limits.
Roth IRA
The Roth IRA provides no deduction for contributions, but instead provides a benefit that isn't available for any other form of retirement savings: if you meet certain requirements, all earnings are tax free when you or your beneficiary withdraws them. Other benefits include avoiding the early distribution penalty on certain withdrawals, and eliminating the need to take minimum distributions after age 70½.
Coverdell Educational
A Coverdell Educational Savings Account is a trust or custodial account set up solely for the purpose of paying qualified education expenses for the designated beneficiary of the account. Qualified higher education expenses include expenses for tuition, fees, books, supplies, and equipment required for enrollment or attendance. If the designated beneficiary is enrolled at least half time at an eligible educational institution, certain room and board expenses are qualified education expenses. Expenses also include amounts contributed to a qualified tuition program for the same designated beneficiary. Qualified expenses include public, private and religious elementary and secondary school expenses. There are no investment restrictions but there are income restrictions and contribution limits as well as fees and expenses to consider.
401(k)
The 401(k) plan is a type of employer-sponsored retirement plan named after a section of the United States Internal Revenue Code. A 401(k) plan allows a worker to save for retirement while deferring income taxes on the saved money or earnings until withdrawal.
Life Insurance
A protection against the loss of income that would result if the insured passed away. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured. The goal of life insurance is to provide a measure of financial security for your family after you die. So, before purchasing a life insurance policy, you should consider your financial situation and the standard of living you want to maintain for your dependents or survivors.
Long Term Care
Coverage that provides reimbursement for long-term care expenses including care coordination, home care, community services, assisted living and skilled nursing care. Long-term care needs may be the result of illness, injury or a general decline in ability to perform everyday tasks.
Guaranteed Options for Investments
Guarantees are based on the claim paying ability of an issuing company and do not apply to investment options.
Carefully consider the investment objectives, risks, charges and expenses of a fund or sub account before investing. This and other information is contained in the prospectus contact Horizon Financial Group, Inc. for a prospectus. Read it carefully before investing.
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