Single Premium Immediate Annuities

A Single Premium Immediate Annuity (SPIA) is an exchange of a lump sum (premium) for a stream of income (annuity) until the covered person dies. An SPIA may be beneficial to a financial situation, but there are several pros and cons to consider. First, an illustration of how an SPIA works and its value. Next, a discussion of the pros …

Health Savings Accounts

The Health Savings Account (HSA) is one of the most powerful investment vehicles. Not only is it the only account that offers triple tax savings at the federal level (if funds are used for qualified medical expenses). HSA funds can be used as an additional source of retirement funds after the age of 65. However, there are several restrictions to …