Financial advisors, also known as financial planners, are professionals who help their clients with wealth management and personal money matters. They can put together a retirement savings plan or simply answer questions about whole life insurance in New Jersey.
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 It’s never too early to start planning for your future! A financial plan includes your current money situation, long-term monetary goals and strategies for meeting those goals. You can create a financial plan on your own, or you can create one by working with a financial advisor in NJ. The benefit to working with a financial advisor is that you can work together to develop a personalized plan that aligns with your long-term goals.
 In December 2017, lawmakers passed the Tax Cuts and Jobs Act (the “Act”), a sweeping tax reform law that impacts you.
First, let's start with three tax concepts that were left intact: 1. Tax-free death benefit of life insurance. Your beneficiaries can receive life insurance proceeds free from income tax with very few exceptions. 2. Tax-deferred growth of life insurance cash values. You can grow cash values in your life insurance policy tax-deferred, making permanent life insurance a great part of your financial portfolio. 3. Access to cash value without current taxation. When properly structured, life insurance policy cash values may be accessed through loans and/or surrenders to basis without current taxation.  Protecting our loved ones from financial hardships when we can’t be there for them anymore is the main reason why we get a life insurance policy. But what if you only need to protect them from long term expenses such as the mortgage, a home equity loan or your children’s education? A return-of-premium-life insurance assures that you will get your money back if you outlive your policy term. This type of insurance guarantees that you’d be able to give your loved ones the financial protection they need.
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