Alford, FL Financial Advisors and Consultants

A credit score is designed to provide lenders with an estimate of how much debt you can afford and how likely it is that you’ll repay those debts on time. Many factors are taken into account when determining a credit score, including your repayment history and the amount of debt that you currently have.

This is a type of permanent life insurance that has fixed death benefits and premiums. The cash value of these policies adds up over time. This growth is tax-deferred. There are many things that can influence how much you’ll spend on life insurance and what kind of policies will be available to you, including your current age, medical history, and the amount of insurance you plan on purchasing. There are costs associated with life insurance, such as mortality charges. If you opt to cancel your policy, you may be on the hook for surrender charges. It could also impact what you owe in income tax. Before including life insurance in your plans for the future, you’ll want to find out what kind of coverage is available to you. You should also keep in mind that the guarantees a policy offers are based on the presumption that the company that has issued the policy will be able to keep making payments.

Wills are a legal document that specifies how an individual or couple wants their assets to be distributed after their death. Wills may also assign someone as a guardian of minor children or specify who the executor of the estate will be. 

It’s always important to make sure that you’re prepared to cover your tax bill. If you’d like information that’s relevant to your situation, you’ll want to talk to a tax professional. 

 Studies have shown that most companies that provide auto and home insurance look at credit scores when determining what the cost of insurance should be. However, some states, including California, Hawaii, and Massachusetts, do not allow credit scores to impact insurance rates. Other states permit it to be used for property insurance, but not for other types of insurance.

With a fixed-rate mortgage, you’ll pay a fixed interest rate for as long as you have a loan. With a variable loan, the interest paid can fluctuate over time based on the current interest rates. Typically, an index is used to determine what the interest rates will be. This means that interest rates could rise or fall in the future.

In most cases, financial experts advise against borrowing from a 401(K). However, if the funds are needed, a loan is a better option than fully distributing the funds.

This part of the tax code states that someone can transfer assets to their spouse at any time without any tax liability. There is no limit on the number of assets that can be transferred, and assets can be transferred at the time of the individual’s death. 

This refers to all of the earnings from a portfolio or an investment. This includes both incomes received as well as capital appreciation.

These are contracts that insurance companies allow buyers to purchase. The buyer then receives regular payments from the company. The payments can begin right away or at a future time. Payments may be made each month, quarter, or year. Payments are also available in a lump sum. Holders of annuity contracts can choose to receive payments for a specific period of time or for the remainder of their lives.