Let’s Compare Qualified and Non-Qualified Annuities
April 20, 2022
| Qualified | Non-Qualified |
|---|---|
| Funded with pre-tax money. | Funded with post-tax money. |
| Taxes are paid after retirement when distributions are made. | No income taxes paid on principal upon withdrawal. Taxes are only due on interest earned. |
| Less expensive to fund now. Tax savings occurs immediately. | More expensive to fund now. Tax savings occurs in the future. |
| Traditional retirement accounts such as 401k and IRAs are qualified retirement savings vehicles. | Withdrawals are taken from accrued interest first and are taxed until all interest is paid, then principal is paid out tax free. |
As days shorten and leaves begin to change, September invites us to refocus our minds to new possibilities. What better way to grow than by learning a new language?
Do you have enough life insurance for your family?
A handy guide to help you find the best prices on school supplies, electronics, clothing and more.
With some strategic planning, you can easily navigate the back-to-school shopping season.
A handy guide to dorm room must-haves that will help you create a cozy, organized and stylish space.
August is National Wellness Month, a time to reflect on your health and commit to simple habits that support a well-balanced lifestyle. That’s where Optimity enters.
Staying cool in the summer can be a challenge, especially when you're trying to stick to a budget. If you're a GBU member, you have access to a fun benefit!
When it comes to planning for the future, there are few things more meaningful than knowing your legacy will make a lasting impact. At GBU, we’re proud to offer members the tools and resources needed to protect what matters most while also providing meaningful ways to give back.
Since December 2024, donors have contributed an impressive $1,443,000 to
the GBU Foundation, establishing new scholarship, educational grant and
donor-advised charitable funds. These gifts help to shape a brighter future for
students, communities and charitable causes across the country.
Legacy giving, also known as planned giving, is a meaningful way to leave behind an impact on the causes and organizations you care about. By incorporating life insurance and annuities into your estate planning, you can maximize the benefits of your legacy gifts, ensuring they are both impactful and tax efficient.