Taxes

• Tax Planning
  Barnum has designated Special Care Planners that have received advanced training in estate and tax planning strategies, special needs trusts, and government programs. They coordinate with your other advisors and can help you identify additional advocates, including qualified special needs attorneys, non-profit disability organizations, and other service providers.
• Income Tax
  Disclosure: 529 Plans allow contributions to a state-sponsored plan for higher education expenses. Owner may change the beneficiary of the account to another eligible family member of the original beneficiary. Section 529 plans are authorized under IRC § 529 and are sponsored by the individual states. Some states may offer preferential state tax treatment if certain conditions are met. Contributions grow tax-deferred and qualified withdrawals are federal income tax-free. Gifts to a 529 plan qualify for the annual gift tax exclusion ($15,000 in 2021). Annual exclusion gifts to a 529 plan can also be non-loaded for a period up to 5 years. Taxable withdrawals may avoid the additional 10% penalty tax if they occur on account of death, disability, or receipt of scholarship.

Investment

• Investment Management
  Barnum offers the scope of a national financial services provider, with access to industry-leading financial planning services, investment management, and insurance and protection products, while delivering a level of personalized service and attention found at a boutique firm.
• Mutual Funds
  Each mutual fund has its own objectives as well as risk/reward level and can give you the ability to lessen risk through greater diversification at a lower cost.
• Bonds
• Wealth Management
  At Barnum, we believe in developing investment portfolios that emphasize quality, diversification, and personal priorities. Our skilled financial professionals listen closely to your goals and then create strategic portfolio recommendations based on your input and their expertise. From creating a first-time portfolio to complex wealth management, we have the knowledge, products, and insights to help you reach your goals.

Planning

• Financial Planning
  It is often easy to blur the lines between your business goals and your personal goals for you and your family. Working with a Barnum financial professional who is knowledgeable in both the strategies you need to put in place to grow, protect, and transition both your business and in personal financial planning can help you be successful on both fronts.
• Retirement Planning
  Topics to be discussed: The key risks in retirement planning and how to mitigate them. The sequence of returns and how it can impact your portfolio during the accumulation and decumulation phases. How Whole Life insurance can be a buffer strategy to mitigate these risks.
• Annuities
  Examples of loans and investments where fixed rates are an option include mortgages, personal loans, CDs, fixed annuities, and government bonds.
• Long Term Care
  Families with special need loved ones want a future with as much independence, financial security, and quality of life for them as possible. At the same time, they need to provide for their other dependents and plan for their retirement.
• Asset Management
  Enables financial professionals to help clients with their pre- and post-retirement needs as well as issues related to asset management and estate planning.
• Living Trusts
  A legal document that places the grantor’s assets into a trust during one’s lifetime and then distributes them to their heirs or beneficiaries after their death. The grantor generally has full access to the trust funds and can change or cancel the trust at any time while still alive.
• College Funding
  Analyzed their cash flow and expenses, set realistic savings goals, and created a plan that included contributing to a 401(k) to get the company match, setting up a 529 college savings plan, and buying a whole life policy to build cash value.