At the end of last year we were all talking about the "fiscal cliff." At the beginning of this year, the American Taxpayer Relief Act was passed and signed by the president, bringing about a lot of changes.
In our video this month, Joe Chornyak talks about the types of investments we should be thinking of as we go into the new year.
Note: Variable annuities are long-term investments designed for retirement. The value of the variable investment options will fluctuate and, when redeemed, may be worth more or less than the original cost. Withdrawals and other distributions of taxable amounts, including death benefit payouts, will be subject to ordinary income tax. If withdrawals and other distributions are taken prior to age 59½, a 10% federal tax penalty may apply. A withdrawal charge may also apply. Withdrawals will reduce the value of the death benefit and any optional benefits. Guarantees extend to the claims-paying ability of the user.
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