Frequently Asked Questions

START!! If you haven’t already. Plans can be implemented with as little as a $50 per month investment. Systematically save and increase the amount as your income increases or debt decreases.

Basically everything!! More specifically---age, timeline for investing, investment experience, net worth, income, other owned investments, sensitivity to market volatility, investment objectives, specific client needs, and many other things according to specific situations.

Your former employer has control over what investment company is utilized and what investments are available which are usually very limited. By rolling your investments into an IRA, YOU have control and can choose from a great number of investments and investment companies. We may recommend a well established company with funds that have a track record of 10 years or longer in which you can properly diversify your portfolio and has low annual management fees.

The primary office location is 1036 Stearman Drive White House, TN 37188 which is approximately 1 mile south of the White House, TN city limits off of HWY 31W. Terry also works from a satellite office at 351 Arrowhead Court, Kingston Springs, TN 37082. Our hours of operation are extremely flexible to accommodate clients who have varying work schedules. Generally we schedule visits from 7:00 A.M. to 8:00 P.M. Monday through Saturday according to client needs. We take the word “services” in our name quite seriously. Therefore, we will actually meet with you in the comfort of your home, place of business or any place you are comfortable with at YOUR convenience. You don’t have to take off work, plan for travel time or even leave home to meet with us. Your lives, your time, your family and your convenience are important to us. Of course, our offices are always available for meetings if a more formal setting is desired. Contact us at 615-672-4686--Office, 615-545-6546—Jim’s Cell, 615-668-7684—Terry’s Cell.

SIMPLE plan for small businesses SEP for the self employed SOLO 401(K) ** Contact PROSPERITY FINANCIAL at 1-615-672-4686 for a detailed discussion about the advantages and limitations of each.

Yes. We have aligned ourselves with companies that specialize in plans that have lower costs, more choices and less paperwork associated to ease the burden on the employer sponsoring the 401(k) plan. We also offer personal customer service that is unmatched in the industry. We are regularly in contact with the employer administrator to assist with any day-day questions. During the employee enrollment, if the employee chooses to become a personal client we will meet individually with them to assist them, complete the necessary new client forms, and assist them in choosing the right investments that meets their particular needs while obtaining diversification. Afterwards, we make ourselves available to the participants by phone 24/7 and personally once a quarter at their worksite.

Long-term care (LTC) is any care you receive over a continuous period of time. About 60% of people over 65 will require some sort of long-term care at some point in their life. No one likes thinking about it, but as people age or become ill, they may need help doing daily tasks like getting dressed, bathing, and more. Long-term care (LTC) provides people with those services. LTC can be given just about anywhere including your home, assisted living facilities, or nursing homes. Unfortunately, long-term care is really expensive. Most health and disability insurance won't cover it but long-term care insurance will. Paying out of pocket for LTC can quickly get expensive! It costs so much that you can quickly find your life savings dwindle in a matter of months. Having LTC insurance ensures that your savings will remain intact and your kids won’t have to pay the bill.

According to the American Association of Home and Services for the Aging, 69% of people will need some form of LTC after age 65. Long Term Care insurance is a crucial part of your financial planning. If you become ill, it ensures that your spouse will have enough money to eat and your kids won't be burdened with huge payments. Not having LTC insurance can be a $300,000 to $400,000 mistake. Now you may be thinking the government will pay for my long-term care. They will if you qualify for Medicaid, the government program designed for people who truly don't have any money. A lot of times people try to cheat the system and move all the assets out of their parent's name and get the government to pay for LTC. Doing that is called fraud—a federal crime and the government will prosecute you! Also keep in mind that the government is already having trouble paying for those on Medicaid. Be in control of your quality of care and dignity! Do you really want to count on the government for your long term care needs?

We can save you money in most cases. First, Odds are your current policy was “ sold” to you by an agent who was captive to one company selling a limited line of products. We are independent and associated with most of the major companies in the market and have all their products for our use. The insurance industry is highly competitive and we use this to YOUR advantage. We compare and shop for the absolute best bargain for YOU. Secondly, you may have been “sold” a product that is not right for you, providing little coverage for a large premium. We evaluate your situation and needs then recommend placement of the right product for you and your family EACH and EVERY time. Replacement would not be recommended if your current product suits your needs. It’s that simple. We are in business for YOU and not a particular insurance company.

Yes, we are associated with particular top rated companies that underwrite “high risk” impairments. While the premium may be somewhat higher, coverage can still be obtained in most cases.

We teach people to become “self insured” by systematically investing funds in an investment vehicle and to not pay for insurance all their lives. However, the companies we are associated with provide a convertible feature that allows the individual to convert to a permanent type of insurance without evidence of insurability at some point before their term ends if their situation warrants it. Some people opt for a new term policy for lower face amounts and/or term. The idea is that term insurance provides for maximum coverage for less money at a time when it is needed to replace a loss of income, pay mortgages, etc. Late in life less insurance is needed as the children are grown, the mortgage is paid, etc.

This depends upon the particular situation. Options are discussed with the client in depth to assure any recommendations are suitable for the client. After obtaining complete information regarding a particular individual an annuity may be a better option, especially the more conservative investor. The interest or returns grow tax deferred, and upon the owner’s death the proceeds are payable directly to the beneficiary bypassing probate. The annuity may offer an option to be turned into an income stream that the owner can never outlive.  Call Prosperity for a more complete discussion given your particular situation.

For 2013 the limits are $5500 for individuals under age 50 and $6500 for ages 50 and over.

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