Mutual Funds- Think of a mutual fund as one big pool of money that different investors all contribute money to. A money manager then takes that whole pool of money and invests it in different assets, usually stocks and bonds. As the investments make money, everyone who put money into the pool profits proportionally to the amount of money they each put in. Most mutual funds focus on investing in portfolios that contain assets that revolve around a specific theme. For instance, one mutual fund may focus on investing in the best value stocks on the market. Another may focus on building a portfolio of international stocks. Others still revolve exclusively around blue-chip stocks or those that tend to offer high dividends. No matter what type of assets you’re interested in investing in, there’s more than likely a mutual fund out there that focuses on it. Mutual Funds minimum investment varies amongst fund companies and allow additional contributions.
Annuity- Annuities are investments issued by insurance companies that can be used to help build a guaranteed income stream or a retirement nest egg. It’s like being able to create your own pension fund or IRA. Annuities come in many varieties, helping investors reach diverse retirement goals. Annuities require a lump sum investment. Some offer additional contributions, and some do not.
529 College Saving Plan- 529 plans are flexible, tax-advantaged accounts designed specifically for education savings. Funds can be used for qualified education expenses for schools nationwide and are transferrable to other beneficiaries. 529 plans can be opened with as little as $25 in New Jersey with additional monthly contributions. The maximum contribution to a 529 plan is $305,000.
Life Insurance- Vary between term, whole life, universal life (index and variable). The best kind is the kind that fits your unique situation and is in place when its needed. Insurability is a determining factor prior to choosing which to apply for. **The reinsurance market is an option for the riskier applicant. Single premium policies are also an available option.
My company works with several top financial companies with A+ ratings.
Disability Insurance- We match our clients with the company that best fits their job title and income level. Some industries are higher risk than others and we have options for most industries.
Owning your insurance outside of the workplace is important and recommended.