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An annuity is a series of payments made at equal intervals. Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates.
A 401(k) rollover is a transfer of money from an old 401(k) to an individual retirement account (IRA) or another 401(k). Typically the money must go into the new account within 60 days of coming out of the old 401(k).
Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person.
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