ROC Financial Group

If you or your business are needing to save money on health care, you should check out this zoom today. (Link in first comment)

Impact Health Sharing saved our family over $1k per month on healthcare, with a LOWER deductible, and no network.

Since then, they now allow you to off-set your deductible based on other expenses you have to keep yourself healthy...up to $100 per month. Buying vitamins/supplements? Paying for a gym membership? Doing hormone therapy? Upload the receipt and they will credit $100 per month toward your deductible.

Starting October 1st, they will also be offering a Dental/Vision program. Details are being discussed today on the zoom.

Wonder why your insurance premiums continue to go up each year? When the ACA (Affordable Care Act) was made law it limited the the profit an insurance company could make to 20% of the total premiums collected.

So how does an insurance company grow their revenue? The HAVE to increase the premiums they are collecting. The other side of that is that it incentivizes providers to continue to increase the amount they bill for services.

When you’re ready to get off the hamster wheel, and move to a health care company that truly cares about your well being…hit me up, we can help.

Starting out the week on our leadership call with Ken Joslin, talking about how to become the best version of ourselves.

Just because it didn't go your way, doesn't mean it didn't go God's way. -

Is a Roth IRA better than Cash Value Life Insurance?

It’s a good question. Here is the first thing you need to be aware of….the Internal Revenue Service demands that a 1099 be issued whenever any distribution is taken. A 1099 is the tax form that the government collects to make sure they know how much income you have received in a given year.

Here is the second, and maybe bigger question. “WHY” is the government demanding a 1099 on a Roth IRA when accumulation and distributions are supposed to be tax exempt and have no impact on Social Security, federal or state taxes?

Maybe it has to do with the government ‘keeping their options open’. There are conversations going on in Congress right now about making Roth distributions subject to off-setting Social Security income or allowing states to impose an income tax. This is not in law right now, it is being discussed.

So when you think about is a Roth better than life insurance you need to know that Senator Roth copied the life insurance code almost verbatim to create the Roth IRA. However, what he did is put restrictions on how much you could put in, qualification restrictions, accumulation restrictions, distribution restrictions…all of these caveats that go with the Roth that make it more complicated than life insurance.

With a properly designed Cash Value Life Insurance policy, there is no maximum contribution according to the government. There is no income tax due in the distribution strategy we employ here at Roc Financial Group. It accumulates exempt from taxation, it’s paid out exempt from taxation, and it is transferred to our beneficiaries exempt from income taxation.

Doe a Roth provide all of those benefits? No.

Is a Roth IRA better than other ‘qualified plans’? Yes.

Is a Roth better than a properly designed Cash Value Life Insurance Policy? You decide.