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What Are Some Fixed Indexed Annuity Benefits?

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A Fixed Index Annuity provides you with all of the features of a traditional Fixed Annuity, plus interest credits linked to a stock market index. Safety of premium Safe potential of stock market-linked growth Potential to avoid probate Minimum Guaranteed Interest Rate on money in the Fixed Account Interest Credit locked in annually An option for guaranteed lifetime income An...
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You Need A Retirement Advisor

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It is absolutely essential that you work with a Professional Retirement Advisor, not only for current and future advice, but also to build a lasting relationship with someone you trust. Proper advising consists of providing innovative solutions and strategies specifically tailored for individual client needs. At West Coast Financial Services we take great pride in serving our clients before an...
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How Are Social Security Benefits Calculated?

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"How Are Social Security Benefits Calculated and What Can I Do To Increase Benefits?" There are a minimum number of years to qualify. To qualify for any Social Security benefits, you must have at least 40 credits. To receive a credit in 2017, you need to earn $1,300 per credit (this number adjusts each year), with a maximum of four credits per year. So to receive the 40 credits you have to work f...
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Should I Take Social Security Early?

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Should I Take Social Security Early? Many people will reach the earliest age that they can take Social Security and wonder, "Should I take it now or should I wait?" What is the right answer? Everyone is different and has a their own situation so let’s take a look at a few of these. Before we get started let's look at a few facts... Your Social Security increases between 5 to 7% fo...
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Why You Need To Rollover your 401k To Save It From Taxes For Your Heirs

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Company retirement plans such as 401k’s, 403b’s, and 457 plans are tax deferred accounts that act just like an IRA when it comes to taxation.  At age 70 1/2, unless one is still working and contributing to a retirement plan, you have to start taking distributions.  But what about making sure the beneficiaries stretch out the account as an Inherited IRA?  You will see the company plan in most...
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You Need to Set Up Asset Protection for the Inherited IRA

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Asset protection for IRAs is often overlooked. IRA beneficiaries may be exposed to the potential loss of some or all of their inherited IRAs, for many reasons: Loss of the IRA to lawsuits and creditors. State statutes vary on how much they exempt IRAs from lawsuitsand creditors’ judgments. Recent Rulings on a federal level have deemed IRAs to not be creditor proof.  So in the even...
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Important Rollover Information For Your IRA’s & Qualified Plans

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Important Rollover Information For Your IRA's & Qualified Plans There is a a lot of confusion regarding all of the rules regarding moving money in or out of retirement plans and IRA’s.  With the potential consequence of having funds that have never been taxed, to all of a sudden become taxable income, creates fear and trembling among many people.  Let’s dive into the do’s and don'ts reg...
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Why The Inherited Or Stretch IRA Usually Does Not Happen

Posted on by WCFSRetirement
Why The Inherited Or Stretch IRA Usually Does Not Happen Unfortunately, most beneficiaries do not always take advantage of the IRA stretch out after the IRA owner’s death. In fact, often the reality is that beneficiaries will withdraw funds from the IRA much earlier and destroy what for many could be their greatest wealth building vehicle. This occurs for a number of reasons. Somet...
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The Power of The Inherited or “Stretch” IRA

Posted on by WCFSRetirement
The Concept of stretching out an IRA to beneficiaries is often not addressed in the financial services community. When one sees how the IRA is taxed to beneficiaries as ordinary income, you can see how this can be a very significant tax that the IRA owner may have never really considered. For this discussion, we will assume that a person has rolled over their existing 401k's or 403b's to I...
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