Taxes

• Charitable Giving
  A great way to help to keep your spending in check is by setting limits. Create a plan for the holiday season by grouping your 2024 Christmas budget into categories such as gifts, decorations, food and charity. Then, figure out what percentage of your total budget you want to allocate to each category. For example, you could choose to spend 50 percent of your budget on gifts, 30 percent on charitable giving, 20 percent on decorations and 10 percent on food. Earmarking a specific percentage for each category can give you a better sense of how you are spending your money and help make it easier to adhere to your overall budget.
• Estate Taxes
• Tax Services
• Roth IRA
  Contributions to a Roth IRA are not tax deductible, but if you meet certain requirements all earnings are tax-free when you, or a beneficiary, withdraw them.
• Income Tax
  Military retirement income is subject to federal taxation, so an increase in military retirement pay from a COLA is taxed. State income tax laws vary, so depending upon your state of residency, military retirement pay and a COLA may or may not be taxed.
• Tax Deferral
  Provided you meet the eligibility requirements, a traditional IRA offers the immediate benefit of tax-deferred contributions. It also provides the long-term benefit of a tax deferral on earnings. This means you pay no taxes on your investment earnings until you begin making withdrawals, which is usually after you retire and are in a lower tax bracket.

Investment

• Investment Management
  Online “Robo-advisor” tools promise to provide quick and inexpensive portfolio management services. But military families face life events and decisions that are too important to leave to an online tool. Achieving long-term financial security involves a lot more than the creation of an effective investment strategy. By providing face-to-face coaching, Financial Advisors can help their clients build successful financial behaviors, combat consumer temptations, and experience the confidence and security that comes through successful goal setting, budgeting, and risk management.
• Mutual Funds
  Variable annuities can be purchased with a lump sum or a series of payments and allow investors to choose from a set of “subaccounts” that are similar to mutual funds. The return on these investments is not guaranteed and varies based on their performance. Variable annuities provide higher potential returns than fixed index annuities, but also come with more risk. Many variable annuities offer riders that provide guaranteed lifetime income benefits and protection against losses to help offset the risk. There are additional fees associated with these guarantees.
• Bonds

Accounting

• Accounting Services

Planning

• Financial Planning
  Most of our Financial Advisors are veterans or military spouses who have walked where you walk. We have a deep understanding of military life, and can coach you through the specific financial planning strategies that each life stage requires. We help young clients develop a core savings regimen to lay the groundwork for future financial independence. We guide growing families through the process of college savings and insurance planning. And we help those nearing the end of their working years establish a retirement income plan.
• Retirement Planning
  Understanding finance fundamentals strengthens financial decision-making, helping you make good financial moves and avoid bad ones. In a complex financial landscape, it’s more important than ever to have the knowledge to effectively navigate it. Banking and credit options are expanding, so financial literacy can give you the skills to evaluate them and make advantageous choices. Longer term, responsibility for retirement planning has shifted to individuals since employer-managed pensions have dissipated. It’s now up to you to save and invest for retirement.
• Annuities
  Annuities, which come in a variety of types, contain several features that make them useful tools in preparing for and living in retirement, including the ability to provide guaranteed income, protection against declining markets and tax-deferred growth.
• Long Term Care
  No one likes to picture themselves in need of long-term care, but statistics suggest that most of us will need it at some point in our lives. That’s why it’s important to be prepared. Our long-term care insurance for military personnel, veterans, and their families is designed to cover a range of services you may need due to the effects of aging, or a chronic illness or impairment that leaves you unable to care for yourself over an extended period of time. This type of care can take place in a variety of settings, including in your home, in an assisted living facility, or in a nursing home.
• Asset Management
  Time is a precious commodity. Researching investments in ever-changing markets and handling investment transactions are more than most military personnel have time for. First Command’s Asset Management Solutions™ program allows you to delegate the daily management of your assets and invest with confidence, knowing that your portfolio is in the hands of experienced professionals.
• College Funding
  Our First Command Advisors have an array of savings products designed for your education planning success and pursuing your financial goals.