What You Need to Know About IRAs

IRABy: Marnique Sparago, Guest Contributor

Investing for retirement is one of the most important things you can do for your future. Yet an employer-sponsored savings plan, such as a 401(k), may not be enough to provide the savings you need since there are many risks to be prepared for. For many, an Individual Retirement Account is one of the best ways to accumulate additional retirement savings on a tax-advantaged basis.

There are two main types of IRAs, Traditional and Roth. Both have the same contribution limits, the same catch-up provisions for people age 50 and older (for this year’s amount, go to the Internal Revenue Service website, http://www.irs.gov), and both allow your investment earnings to compound tax-deferred until you start taking withdrawals, typically at retirement.

To help determine which IRA is right for you, consider how they differ. Continue reading

Disability Income Insurance: How Today’s Decisions Impact Tomorrow’s Choices

Provided By:  Marnique Sparago, Northwestern Mutual

Doctors and dentists nationwide clearly understand the importance of having disability income insurance (DI) to protect the time and money they’ve invested in their profession. And most have considered at length what would happen to them, their incomes, their families and their careers if they suddenly found themselves injured or ill – leading them to seek the protection a DI policy provides.

So what’s the problem? DI is a complex buying decision – with varying stipulations in policy contracts that impact the type of benefits a policy owner might receive at time of claim. The problem is that busy medical and dental professionals can’t find the time to fully understand key concepts in their policies, and many would be surprised to find how those details could affect them at the time of claim. Continue reading