Tuesday, June 12, 2018
Financial planning advisor Torrey Thompson joined the Atlanta branch of Amerilife and Health Services in 2017 as a general manager. Torrey Thompson educates his clientele on a range of investment and saving options based on their specific circumstances, enabling them to make well-informed decisions about their retirement plans, including those who are self employed.
Since entrepreneurs do not have access to employer-funded pension schemes, they typically must do more of their own planning for retirement. There are many effective retirement planning strategies that can be used by the self-employed.
One option is to open a solo 401k, which is available at most banks. Self-employed tax-fillers can take advantage of IRS maximum contribution limits for both employers and employees and deposit up to $53,000 tax-free each year.
Another strategy is the Savings Incentive Match Plan for Employees of Small Employers, or SIMPLE IRA. Under this plan, entrepreneurs can put aside up to $12,500 per year toward retirement. Small business owners can also use these IRA to give a 3 percent match to their employees’ contribution.
Thursday, May 17, 2018
Torrey Thompson serves as general manager of an insurance independent marketing organization in Atlanta. In this role, Torrey Thompson leads seminars on such topics as Medicare coverage for eligible recipients.
The Medicare suite of products includes four basic parts. Part A, also known as hospital insurance, contributes to inpatient care and skilled nursing care following a hospital stay. It also covers certain home health care and hospice services.
Medicare Part B covers outpatient care, including doctor's visits and outpatient surgeries. It also contributes to what is known as durable medical equipment, such as walkers and other mobility aids, provided that the use of these items is medically necessary. Although Part A is usually available premium-free to those who have paid Medicare taxes throughout at least 10 years of work, Part B coverage usually requires a premium from the subscriber.
Part C is an optional enhancement to Medicare. Known as Medicare Advantage or Medicare Health, such plans are available through private insurance companies, which receive government subsidies for offering these products. A Part C plan can help a subscriber to pay for services that basic Medicare does not cover.
The final Medicare option is Part D, which is a subscriber's prescription-drug coverage. Like Part C, it is available through private insurers and requires a subscriber to have Parts A and B.
Financial planning advisor Torrey Thompson joined the Atlanta branch of Amerilife and Health Services in 2017 as a general manager. Torre...
Torrey Thompson serves as general manager of an insurance independent marketing organization in Atlanta. In this role, Torrey Thompson le...