TRUST IN PROVIDENCE
For your income, savings and retirement needs
PERSONAL AND FAMILY
SAVINGS (3.00% tax-free or deferred)
The Providence Association offers you many opportunities
for safe, guaranteed and steady tax efficient interest ("fixed") and cash value
income growth. Its clients can choose from a vast array of savings vehicles:
pension plans, and cash value permanent ("whole") life insurance. Our
policy against charging "loads" (administrative charges, costs and fees) insures
that every dollar that you invest with Providence will work for you.
Read about all of our savings opportunities below and click
on those items which are of interest to you.
We are all living longer: Fabulous. But increased longevity
can pose a quandary for those who either did not save for retirement or are
worried about outliving their money (i.e. not having saved enough). Not to
worry: One way to save for retirement and to ensure that your money lasts as
long as you do is to invest in an
What is more, wrapping that annuity into an
(traditional or Roth) will further enhance the already generous tax
treatment, which the Federal and State authorities afford to annuities.
The Tax Payers Relief Act of 1997 not only established the
Roth IRA as an excellent tax-free investment vehicle, but also made all other
SIMPLE) accessible to unrestricted penalty free withdrawals for
tuition for higher education. Coupled with increased contribution limitation,
IRAs have become a good means of setting aside a college fund for children.
Grandparents and even parents who had children later in
life can also use annuity funds (withdrawn after age 59.5) to support their
college bound descendants.
An Individual Retirement Account
is one of the best and easiest ways to save for your future. IRA"s have been
greatly enhanced by new legislation that brought significant changes to
Traditional and Roth IRA"s.
Depending on the type of IRA you choose, the interest you
earn may either be tax-deferred or tax free and the contributions you make
may even be tax-deductible. Consult your tax advisor to determine your
opportunities. The effective growth rate of a 3.00% tax-deferred or tax-free
IRA or annuity, as offered by Providence, is up to 4.61%, depending
upon the investor"s tax bracket.
Although IRA"s and Roth IRA"s
are wonderful vehicles for retirement savings, because they generate either tax
deductions or tax-free distributions, respectively, their greatest limitation
stems from the restrictions on the amount of annually permitted deposits. A wise
investor will also purchase a
Deferred Annuity for the purpose of accumulating additional
retirement income and/or wealth for future generations.
LEAVING YOUR JOB? PROVIDENCE ARRANGES AND ACCEPTS 401k
Small Business Owners
SEP and SIMPLE IRAs offer our professionals and
family and small business owners a unique opportunity to make enhanced
contributions into IRAs.