We are pleased to announce Kathryn Hite as the latest addition to the Allgen Financial Services’ financial advisory team. Kathryn joins Allgen Financial Services, Inc. after five successful years as a Regional Leader with Primerica Financial Services, Inc, one of the largest personal financial services firms in the world. Kathryn brings a background of expertise in life insurance, debt consolidation, mutual fund investment, variable annuities, and long-term care insurance to Allgen’s retirement asset management practice.
Kathryn is a graduate of Transylvania University in Lexington, Kentucky where she earned a Bachelor of Arts degree with dual majors in Accounting and Computer Science. Kathryn began her career as an internal auditor and held various positions throughout her career including Y2K Technology Project Vice President for AmSouth/Regions Financial Bank.
Senior Partner Paul Roldan said, “We are excited about having Kathryn Hite on our team. She provides a great blend of strong analytical skills and practical solutions to those in need of financial planning and investment guidance. Our future looks even brighter with Kathryn as a member of our team.”
If you currently experiencing a disruption in your career, Allgen Financial Services, Inc. has a Toll-Free Hotline at (888) 625-5436 for you to use in order to discuss your specific career and financial situation with a professional financial advisor.
Because so many people are experiencing job layoffs, Allgen has setup a hotline to make the job transition easier by offering advice on how to best make any necessary financial transitions. Your initial consultation is complementary, and is designed to help answer any financial questions you may have.
Allgen Financial Services also has established an RSS feed providing retirement financial information. The feed can be found at http://www.allgenfinancial.com/financialnews/feed. This feed is designed to provide critical information about the economy, financial market conditions, and Allgen’s investment strategy.
Allgen Financial Services, Inc. (www.allgenfinancial.com) serves individuals, families, and businesses in Winter Park, Florida. Despite the economic downturn in 2008, Allgen continues to grow. In 2009, Allgen plans to have a greater presence in Winter Park, Florida. “We are excited to continue serving the Winter Park community,” said James Zimbardi a Senior Partner at Allgen Financial Services, Inc.
The business community in Winter Park is especially on Allgen’s radar screen. “Businesses are looking for solutions on how they can reduce cost in this economy. Company benefits and retirement benefits like a 401(k) is a business cost executives and HR directors should consider evaluating. For this reason, Allgen Financial Services, Inc. provides a complementary audit to determine if costs can be reduced, while not sacrificing quality of service or investment options. In many cases, when going through the audit process, Allgen’s financial team has found opportunities to increase the quality of service while decreasing cost,” said Paul Roldan Senior Partner at Allgen Financial Services Inc.
Investment advisory services tend to play a more important role when investors are uncertain about market conditions. Since major institutions are making significant cuts and layoffs, a firm like Allgen is benefiting and demonstrating bigger is not necessarily better. More and more people are reaching out to Allgen because they have lost their advisor, or they are unsatisfied with the level of service they are receiving in these current market conditions.
Allgen specializes in retirement asset management for both individuals and businesses. It serves business owners, high-net-worth individuals, and individuals in career transition or planning for retirement.
Tax-deferred annuities can be a valuable tool, particularly for retirement savings. However, they are not appropriate for everyone.
Five questions to consider
Think about each of the following questions. If you can answer yes to all of them, an annuity may be a good choice for you.
Are you making the maximum allowable pretax contribution to employer-sponsored retirement plans (a 401(k) or 403(b) plan through your employer, or a Keogh plan or SEP-IRA if you are self-employed), or to a deductible traditional IRA? These are tax-advantaged vehicles that should be fully utilized before you contribute to an annuity.
Are you making the maximum allowable contribution to a Roth IRA, Roth 401(k), or Roth 403(b), which provide additional tax benefits not available in a nonqualified annuity?
Will you need more retirement income than your current retirement plan(s) will provide? If you begin making the maximum allowable contributions to both a qualified plan and an IRA in your 30s or early 40s, you may have enough retirement income without an annuity.
Are you sure you won’t need the money until at least age 59½? Withdrawals from an annuity made before this age are usually subject to a 10 percent early withdrawal penalty tax on earnings levied by the IRS.
Will you take distributions from your annuity on an ongoing basis throughout your retirement? You typically have the option of making a lump-sum withdrawal from an annuity, but this is almost always a bad idea. If you do, you’ll have to pay taxes on all of the earnings that have built up over the years. If you take gradual distributions, you pay taxes a little at a time, allowing the rest of the money to continue growing tax deferred. In addition, if the annuity is nonqualified and you elect to receive an annuity payout, you will enjoy an exclusion allowance on each payment, in which a portion of each payment is considered a return of principal and is not taxable.
Article Written By: Forefield Inc.
Neither Forefield Inc. nor Forefield Advisor provides legal, taxation, or investment advice. All content provided by Forefield is protected by copyright. Forefield claims no liability for any modifications to its content and/or information provided by other sources.
For professional investment advice on this topic contact: Allgen Financial Services, Inc.
888.6ALLGEN (888) 625-5436
advisors@allgenfinancial.com www.allgenfinancial.com
As many companies such as Citigroup, Fidelity, Merck, Sun Microsystems, Yahoo and many others are planning major layoffs, Allgen Financial Services, Inc. is planning on helping to ensure these individuals make a proper financial transition.
So often when individuals leave a company they also leave their 401(k) or retirement account behind. Their retirement account is unattended because the primary focus becomes finding a new job to continue generating short-term income. However, it is unwise to ignore the current financial resources already attained.
To put things into perspective: If someone has $300,000 in their 401(k) and it drops by 5%, they will have lost $15,000. Doesn’t it make sense to spend some time evaluating how to best navigate the necessary financial transition when in the middle of a job transition?
Allgen wants to encourage people being laid off to consider making a financial transition a priority as well. Basically, don’t let the emotions of being laid off prohibit you from determining what to do with the resources you have already been able to acquire. A $15,000 loss can potentially take a full year or more to recapture.
If you have not already spent the time looking at your retirement account and getting professional advice, now might be a good time to start.
For professional investment advice on this topic contact: Allgen Financial Services, Inc.
888.6ALLGEN (888) 625-5436
advisors@allgenfinancial.com
www.allgenfinancial.com
We are pleased to announce Kathryn Hite as the latest addition to the Allgen Financial Services’ financial advisory team. Kathryn joins Allgen Financial Services, Inc. after five successful years as a Regional Leader with Primerica Financial Services, Inc, one of the largest personal financial services firms in the world. Kathryn brings a background of expertise in life insurance, debt consolidation, mutual fund investment, variable annuities, and long-term care insurance to Allgen’s retirement asset management practice.![[del.icio.us]](http://www.allgenfinancial.com/financialnews/wp-content/plugins/bookmarkify/delicious.png)
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