gweston's blog

By now you've probably heard that actor Nicolas Cage, star of numerous Hollywood blockbusters, including Gone in Sixty Seconds and Leaving Las Vegas, has run into a spot of financial trouble lately, with his ex and baby mama Christina Fulton recently suing the actor for 13-mil and he reportedly has several homes facing foreclosure.

Now, nobody thinks Cage is a dummy, so how does a smart guy who's made millions end up with money trouble.

Across the United States with the down turn in the stock market annuities have become a major part of the retirement and investment planning for many Americans. However, annuities are designed to be long-term investments, to meet retirement and other long term goals. Annuities are not suitable for meeting short-term goals because substantial taxes and insurance company charges may apply if you withdraw your money early.

An annuity is a contract with an insurance company. The insurance company agrees to provide a stream of income to the individual in exchange for payment. The holder of the annuity cannot outlive the regular income from the investment which makes this attribute especially unique. Therefore, annuities are used as an asset to fund retirement.

With the lure of tax-free distributions, Roth IRAs have become popular retirement savings vehicles since their introduction in 1998. But if you're a high-income taxpayer, chances are you haven't been able to participate in the Roth revolution. Well, that's about to change.

What are the current rules?

Financial experts have traditionally held that equities belong in a portfolio because, despite involving greater risk than cash or bonds, when held over the long term they offer higher return potential. However, that conventional wisdom has come under fire since the double whammy of the dot-com crash and the credit crunch.

What is an Annuity? The word annuity has its origins in a Latin term that means “annual.” Today, an annuity is an investment product sold by insurance companies. Annuities can be purchased through a series of contributions or in one lump sum. The money put into the annuity contract is allowed to grow for a period of time.

You need estate planning. It doesn’t matter how much you make. It doesn’t matter where you work. What matters is whether you want to decide where your assets – no matter how great or small – end up after you die. Or would you rather have someone else make those decisions?

Once you have reached a certain level of understanding of “matters financial,” you are likely to recognize the value of life insurance in your overall financial plan. You probably also realize that one of the reasons life insurance is such a valuable planning tool is its versatility.

First let’s understand what is meant by long-term care (LTC). Basically, LTC can range from in-home care, both medical and non-medical, adult day care, assisted living and full nursing home care. The costs for each of these levels of care are dependent on the assistance needed.

Many financial advisors would agree that the foundation of a good financial plan is life insurance. The need to prepare financially in the event of an unexpected death is universal. However, the financial needs of a family with young children and a large amount of debt are vastly different from those of a couple of empty-nesters looking forward to retirement.