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Personal Finance Articles

The Markets: Looking Back and Looking Ahead

The 2018 stock market was a wild ride. It began with the best-performing January in 29 years, the longest stretch without a 5% pullback, and the first 10% correction in years, which occurred over a three-week period. For the ensuing six months, the market worked its way to another record high in September. Then, for the first time since 1950, the market experienced another lightning-fast correction, with many more stocks declining even further.

The Importance of a Financial Plan

When you’re planning a family road trip, you don’t just get in your car and start driving. You consider all the variables first. Formulating a solid plan is key for a successful road trip, and it is also the first step in a successful financial journey.

Is an Adjustable Mortgage Rate for Me?

When you’re looking to purchase a new home, you probably first think of securing an affordable monthly payment. Buyers have several options when it comes to structuring a mortgage loan and, in recent years, many have chosen adjustable rate mortgages (ARM) to keep their payments affordable.

Considering a QLAC? Choose AAFMAA’s Wealth Builder Life Insurance instead.

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Personal Finance

Military Retirement

2016-02-24

At age 70 ½, most retirees must begin mandatory minimum withdrawals from their retirement accounts such as 401(k)s and IRAs known as Required Minimum Distributions (RMD).  Many seek a tax advantaged way to continue growing the funds they withdraw and consider Qualified Longevity Annuity Contracts, or “QLACs”, as an option.  Subject to certain conditions, QLACs are annuities that allow one to defer receiving payments until age 85 while the funds grow tax free. The IRS allowed for QLACs to address longevity and the risks posed by outliving one’s savings.  Various financial advisors, such as Ric Edelman, have discussed whether QLACs are the best choice for your money.

As a better alternative, military and honorably discharged veterans should take advantage of AAFMAA’s Wealth Builder Life Insurance policies.  Wealth Builder Life Insurance  offers a superior alternative to a QLAC. For a net-single premium of $769, one obtains an immediate Value-Added Whole Life policy with a death benefit of $1,000 (policies are available from $10,000 - $1,000,000 coverage.  Moreover, the policy’s cash value and death benefit grow tax free at a current crediting rate of 6% (not guaranteed, subject to change) and a guaranteed crediting rate of 3.5% (minus a small administrative fee of .75%). These policies are available regardless of age, sex, or nicotine use and require no medical records or physicals. And, if the owner seeks a QLAC-like income stream, they have the option to annuitize immediately upon purchase or in the future (or never and just retain as a life insurance policy).  Visit AAFMAA’s web site (https://www.aafmaa.com) for more information on Wealth Builder Life Insurance  and AAFMAA’s other services.

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