![Please be advised that this document is not intended as legal or tax advice. It is based upon our general understanding of Federal tax rules at the time the material was prepared. Accordingly, any tax information provided in this document is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. The tax information was written to support the promotion or marketing of the transaction(s) addressed and you should seek advice based on your particular circumstances from an independent tax advisor. Life insurance and annuity products are issued by AXA Equitable Life Insurance Company (NY, NY). Variable products are co-distributed by AXA Advisors, LLC and AXA Distributors, LLC. AXA Equitable, AXA Advisors, and AXA Distributors are affiliated companies and do not provide legal or tax advice. important notes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Similar a Financial Myths For Women Demystified
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Financial Myths For Women Demystified
- 1. financial myths for women… demystified
- 4. general planning/ preparing for the future
- 6. truth… Power of Time and the Magic of Compounding * Chart assumes 7% growth for illustrative purposes. These figures are not intended to indicate the performance of any specific investments. Taxes and fees were not taken into consideration. $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 Total Value $217,701 $270,977 $315,905 $353,311 $384,070 $409,095 Growth * $282,299 $1,568 15 50 Hypothetical Example Age Years Until 65 Monthly Contribution Total Contribution 25 40 $189 $90,905 30 35 $276 $115,920 35 30 $407 $146,689 40 25 $614 $184,090 45 20 $954 $229,023
- 11. truth… Cash or cash equivalents (cash, T-bills, CDs) You receive a $1,000 tax deduction Charitable organization receives $1,000 You gift cash Appreciable assets (stocks, bonds, mutual funds shares, other securities) You purchase $1,000 of an investment years ago Shares appreciate to current market value of $1,500 You gift shares Charitable organization receives $1,500 investment Assumes maximum annual limit on income tax deduction allowable for charitable contributions is not yet met. Typically, you get a $1,500 tax deduction (without paying income tax on the $500 appreciation). Can sell or reinvest. Not subject to capital gains tax.
- 13. money and relationships/ strategies with your best interest in mind
- 17. The hypothetical example on the previous slide is for illustrative purposes only. The 8% return is not intended to reflect the actual performance of any product or investment. Neither investment reflects any withdrawal charges, administration charges or investment management fees. Variable annuities impose withdrawal charges based on a particular product’s surrender charge schedule. Annual administration and mortality and expense risk charges are generally applied to assets in a product’s investment options or sub-accounts. If these fees and charges would have been reflected in the chart above, the ending values would have been lower. Lower maximum tax rates on capital gains and dividends would make the taxable account returns more favorable compared to the tax deferred account, thereby reducing the difference in performance between the accounts. Changes in tax rates and tax treatments of investment earnings may impact the comparative results and investors should consider their personal time horizon and income tax bracket, both current and anticipated when making an investment decision as these may further impact the results of the comparison.
- 22. insurance strategies/ protecting yourself and your loved ones
- 28. investment strategies/ smart choices, smart investors
- 34. retirement planning/ living the retirement of your dreams
- 41. estate planning/ preserve more of your hard earned assets
- 44. truth… Net to heirs without using the Unified Credit Decedent’s Taxable Estate $7,000,000 All to Surviving Spouse Hypothetical example: Tax savings: $1,575,000 * Assumes both spouses die in 2009, when the applicable exclusion amount is equal to $3,500,000. Other deductions and/or credits which are not shown that may be available. Surviving Spouse’s Taxable Estate $7,000,000 Net to heirs with Unified Credit Planning Decedent’s Taxable Estate $7,000,000 Surviving Spouse’s Taxable Estate $3,500,000 Non-Marital Trust $3,500,000 IRS $1,575,000* Children $5,425,002 Children $7,000,000
- 50. thank you!
Notas del editor
- [Read slide.] The Education IRA, now known as the Coverdell Education Savings Account, limits you to an annual contribution of $2,000. If you didn’t start saving when your child was born, you may not have enough to pay for his or her college education. If you are a parent who wants to send your child to a very prestigious school, take a look at some of the country’s better-known universities and the 2009 expenses over four years for each. [Go over details of chart if desired.] There are ways to help you save for these costs — even for late starters. One of them is a qualified tuition program, often collectively referred to as a “529 Plan.” It’s a state-sponsored plan that allows your savings to grow tax-deferred, and withdrawals for qualified higher education expenses are tax-free. Here’s how it works: • Even though these plans are state-sponsored, you do not need to be a resident of the state to participate, but you may lose out on state tax benefits by participating in an out-of-state plan. • You can contribute up to the annual gift tax exclusion, currently $13,000 for 2009 and 2010 without a federal gift tax of $13,000 a year or allocate a large lump-sum contribution of a larger amount, e.g., $65,000 over a five year period. You can carry the gift forward under your annual gift tax exclusion. Remaining account balances can be transferred to another family member of the original beneficiary. • Withdrawals for qualified higher education expenses are federal income tax-free. • 529 Plans also offer the advantage of professional asset management, so by comparing various state plans, you’ll be able to choose from several professional management companies. If you are investing in a 529 plan outside your state of residence, you may lose available state tax benefits. Make sure you understand your state tax laws to get the most from your plan. 529 plans are subject to enrollment, maintenance, administration/management fees and expenses. 529 plans are subject to fluctuation in value and market rise, including loss of principal. Investors should consider the investment objectives, risks, charges, and expenses of 529 plans carefully before purchasing. More information about 529 plans can be found in the issuer’s official statement which can be obtained from a financial professional. Please read the official statement carefully before investing.