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As an independent financial planning firm, we can offer you a wide range of retirement options. We're not beholden to any particular company or set of investment products so we can give you objective financial advice and offer you the most competitive products and investment opportunities available.
403(b) Tax Sheltered Accounts (TSA)
A TSA is a savings program under Section 403(b) of the Internal Revenue Service Code. Under these rules, you can accumulate pre-tax funds toward your retirement and you pay no taxes until you withdraw the funds*. There are four types of investments that can be purchased inside your Tax Sheltered 403(b) Account:
Fixed Annuities**
Fixed Annuities earn an interest rate that is guaranteed not to go below a certain rate for the first year. This is the safest type of annuity since your principle and a minimum rate of interest are guaranteed.TIP: When evaluating these contracts it is important to examine their interest rate history and their minimum guaranteed interest rate. ALWAYS AVOID TWO-TIERED contracts.
Index Annuities***
Index Annuities have earnings that are linked to the performance of State or Board index. They offer you the potential returns of the stock market while at the same time guaranteeing your principle. These contracts can be very complex and include severe restrictions.Variable Annuities
Variable Annuities allow you to spread your deposits into several sub-accounts. Your earnings are based on the funds you choose. Variable Annuities may not be suitable for 403(b) accounts since they have insurance costs that aren't necessary inside a TSA qualified plan, offer no guarantees and tend to have more volatile earnings. There is investment risk associated with these contracts.403(b)-7 Custodial Accounts
Custodial Accounts give you the opportunity to invest in mutual funds that grow tax deferred. You can build a custodian portfolio with mutual funds ranging from very low risk to aggressive stock funds. These accounts offer a great deal of flexibility and are ideal for 403(b) accounts.
Life Insurance
Life insurance can be used for financial protection in the event of death, to save money for your children's college education, to pay estate taxes, or for retirement income. In most cases, savings from life insurance can be withdrawn tax-free.
Tax Sheltered Life Insurance
This option allows you to buy your Whole Life or Universal Life Insurance INSIDE your TSA!Whole Life Insurance
Whole life insurance premiums are fixed. You accumulate cash value through dividends that are paid by the insurance company.Universal Life Insurance
With Universal Life Insurance, your premiums can be flexible. A portion of the premiums will earn an interest rate that is guaranteed to meet or exceed a certain rate.Term Life Insurance
Term Life Insurance is designed to protect a family in the event of a death. The premiums are usually lower and are generally guaranteed for the length (term) of the policy. There is no cash value accumulated.
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Disclosures: Hutto/Dean & Co., Inc. is not an affiliate of GWN Securities, Inc. Gary D. Hutto is a Registered Securities Principle of GWN Securities, Inc. Due to various state regulations and registration requirements concerning the dissemination of information on specific investments, GWN Securities, Inc., and their agents must be registered prior to such dissemination. This site is intended for informational purposes only and further discussions will require prior compliance with state regulations and requirements.
*Penalties may apply to withdrawals prior to are 591/2. These rules are complex and contain many conditions and exceptions. Therefore, it is suggested that you consult with a professional tax advisor before you take a withdrawal from your retirement plan. You can find more specific information on the tax treatment of payments from qualified retirement plans in IRS Publication 675 and IRS Publication 890. These publications are available from your local IRS office or by calling 1-800-Tax-FORM.
** Fixed investments are insured and/or offer a fixed rate of return with no volatility or risk. Mutual Funds and Variable Annuities will fluctuate with market conditions and are not insured.
*** Direct investment cannot be made in any of the indexes cited and index performance is not indicative of any specific investment. Past performance is not indicative of future results.