Can You Roll a Retirement Account Into Ty J Young

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Frequently asked questions

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WHY PUT a ty j. young wealth management account in my ira?

The reason people decide to put a TJY account inside an IRA account is simple… the benefits it affords them. You choose the type of account for your IRA based on the benefits it provides you. You can put numerous types of accounts inside an IRA. When you choose a TJY account, the benefits you receive are tailored towards your IRA: safety of principal and growth. That's what most people want.

i don't like annuities, but i want to be protected. What are my options?

There are three ways to have your money completely protected against losses. The first is FDIC insurance. In a one-year CD right now, the rate of return is going be about 1%, which is not acceptable to most people. The second way is treasury bonds. If you buy a 10-year treasury right now, you will get about a 2% rate of return. The third way to have your money completely protected against losses is with a guaranteed insurance contract. The best guaranteed insurance contracts historically average about a 6 to 8% rate of return. A good guaranteed insurance contract allows you to go up with the market, lock in your gains, and when the market goes down, you don't lose anything. You do receive compound interest, and there are no fees.

you say the historical average is 6%-8%, what can i realistically expect?

It comes down to a number of different factors. Your rate of return is determined not only by the crediting method, but also by the anniversary date. There are 365 different anniversary dates in a year, so the returns are going to vary based on those anniversary dates and the crediting method. Historically, the very best accounts are averaging between 6 and 8% through the maturity of the account.

What if the insurance company goes belly up?

What a great question. These are guaranteed insurance contracts. To gain the status of a guaranteed insurance contract, the insurance company must meet state reserve requirements with your money. Those reserves are separated, segregated, and monitored on a regular basis. So, God forbid the insurance company does go belly up, there is enough money in reserve accounts to pay you back. Because of that track record, because of those reserving rules, in the history of our country, no one has ever lost one cent in a guaranteed insurance contract. And because of that reputation, I feel very comfortable telling you your money is in a protected place. All of that being said, I highly recommend that you do business with a highly rated insurance company. At Ty J. Young Inc., we call them top tier financial ratings: A-, A, A+. Those are the best ratings out there. Look for insurance companies with those ratings.

can i move my current ira or 401k to an annuity without taxation?

Moving your money from your current IRA to a fixed index annuity that is an IRA is easy, and you can do it without taxation. At Ty J. Young Inc., what we'll do for you is set your annuity up as an IRA. Then, we can transfer your current IRA into your index annuity that is an IRA. We can do it without taxation and with no fees on our end. You could also roll a 401(k) over to your index annuity that is an IRA: again, without taxation. So absolutely you can.

how long do i have to wait to get my money out?

Many people ask me that question. When can I get my money out? How long do I have to wait to get my money out? The truth is, you are in control. You choose the number of years that you want, whether you choose five years, or seven years, or 10, or 15—whatever you choose, that's up to you. After one year, you can take out 10% per year, every year, for any reason, with no penalty at all from the insurance company. Let's say you chose an eight year account. After those eight years are complete, you can take all of your money out with no penalty whatsoever. To review, you can take out 10% per year after the first year without penalty. Then, when the time commitment is complete, you can take all of your money with no penalty whatsoever from the insurance company.

i want to see something in writing. Will you send a prospectus?

Is there a prospectus for a good index annuity? The answer to that is no. A prospectus is a document that is required to be given to you if you are about to buy an investment where you can lose money. A security, for example, requires a prospectus. Now, a good index annuity is not a security – it is a guaranteed insurance contract. Your principal is guaranteed against losses. So, no prospectus is needed here. The way it works is first you'll receive an application then once the money transfers you'll receive your policy book. All the terms are stated and known upfront and then you'll actually see them in writing on the contract. You have something called a free look period. The times vary depending on the state, but it is at least 10 days usually. During this time, you can look at your contract to make sure it is exactly what you thought, and if it's not, you can give it back—get your money back—without penalty and without fees. Folks take a lot of comfort and solace in knowing they have the free look period working to their advantage.

Financial tips & Tricks

how to choose a financial advisor?

Credentials are a good starting point, and the advisor's experience is often equally as important. You should trust and respect your financial advisor. Good advisors listen to your needs, goals, and concerns. You can research the company reviews to see what customers are saying about the financial advisor. Word of mouth and online recommendations are useful tools as you determine whether or not the company or advisory is suitable for you. To learn more about choosing a financial advisor, check out this article about Ty J. Young Wealth Management https://www.tyjyoung.com/2020/11/23/meet-our-team/.

what are some financial tips for the middle class?

Middle class homes make up a large portion of America and there's a way to help protect your nest egg. Adjusting your lifestyle to your income level by setting realistic financial goals is a good first step. Then make a plan to set aside money for investment. It seems simple, but saving your monthly income and investing regularly makes a world of difference. Since taxes absorb a significant portion of income, you want to strategize on effective tax planning. Avoid buying depreciating assets, in other words, spend smartly. Learn more about financial tips for the middle class in this article https://tinyurl.com/yyqyg9c7.

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All research, case studies, graphs, charts, projections, and the like strictly refer to insurance products and the insurance industry. All documents, materials, representations, references, products, and advice given and/or received are solely from Ty J. Young Inc., an insurance agency in the business of selling insurance products and soliciting insurance business. All products and materials presented and/or advised are through, and by, insurance agents acting on behalf of third-party insurance companies that compensate Ty J. Young Inc. Ty J. Young Inc. is regulated by the GA Office of Insurance and Safety Fire Commissioner as an insurance agency. Ty J. Young, Inc. is not an investment advisory firm and is not registered with, or supervised by, the U.S. Securities and Exchange Commission or any state securities regulatory office. © Ty J. Young Inc. All Rights Reserved - Ty J. Young and its financial advisors only recommend products for which a client or customer has met stringent suitability requirements under State Law, and equal or greater than requirements of the carrier or custodian. Suitability is only determined through direct communication with a licensed advisor, and no product is represented, warranted or recommended until a consumer has had direct contact with a licensed advisor. This is not an offer or solicitation for brokerage services, investment advisory services, or other products or services in any jurisdiction where we are not authorized to do business, or where such offer or solicitation would be contrary to the laws of that jurisdiction. Website viewers should visit the disclaimer page for all legal disclosures regarding the website and the content herein. All case studies reflect actual clients whose names are protected for compliance with privacy statutes and regulations. Any reference to stock performance is based upon historical data that is public sourced. Past performance does not guarantee future performance, and all investments are subject to market risk. No statement made is to suggest stock market performance or future performance, and no case study is used to imply future performance or testimonial. All claims are subject to the claims paying ability of the custodian of the account. All stock market investments are subject to risk. Any case study which implies testimony is only in reference to customer service satisfaction and not investment performance. No investment advice is rendered and all information is educational in nature. This client experience may not be representative of the experience of other customers, and is not a representation of a future event.

Can You Roll a Retirement Account Into Ty J Young

Source: https://www.tyjyoung.com/faq

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