John Kim of Syncis - Annuities 101

John Kim is the Co-Chairman of Syncis, and through his organization, he has helped thousands to better understand financial basics like 401k plans, taxes and annuities. Though most know something about 401k plans and taxes, those who have not begun managing their finances often view annuities as a mystery whose knowledge is reserved for savvy professionals. This couldn’t be further from the truth.

The points below can help you gain a basic understanding of annuities:

Overview – An annuity refers to a tax-deferred vehicle that is sold by insurance companies. It grows over time, and when you retire, you trigger the annuity, receiving income from it.

Fixed Annuities – A fixed annuity means that you contribute an amount to an insurance company and the company then has say over how it is invested. When you trigger the income, you receive a fixed dollar amount dictated by your initial payout option upon creation. You have many payout options, and your agent will be able to explain them to you in detail.

Variable Annuities – Variable annuities allow you to contribute an amount to an insurance company and choose how it will be invested from available options.

Equity-Indexed Annuities – Equity-indexed annuities are a type of fixed annuity. These annuities will track the performance of investments and provide interest crediting.

The information above isn’t all you need to know, but learning more is easy. Either do some digging online or simply reach out to one of John Kim Syncis many Syncis associates to have the concept explained during a pressure-free consultation.

John Kim of Syncis - How to Renovate Your Finances

When John Kim co-founded Syncis, he and his partner sought to renovate the financial services industry by means of providing friendly, pressure-free aid to middle-income families and business people. Today, as a result of his hard work with Syncis, thousands are able to improve their financial situations, securing better futures. If your finances are lacking, you might need to employ methods like those listed below to get your future back on track…

• Make a Cushion — A cash cushion, or an emergency fund, is necessary if you wish to reach financial security. It isn’t enough to just have a thousand dollars in your savings account before you begin investing or otherwise spending your extra income. Ideally, you should have enough saved to support you for several months if you become unemployed. This will ensure that you have reserves to pull on when you need to, and that you can otherwise confidently place your money into whatever assets you would like.
• Live on Less — Reducing your living costs will allow you to save and invest more, improving your overall life. Whether it’s eliminating your usual coffee shop visits or taking a staycation instead of a pricey vacation, efforts to live on less almost always pay off. Examine all of your expenses to get an idea of where you can cut back, and then do it. Don’t forget that you can, for example, renegotiate your car insurance rate or switch to a budget phone plan.

Fixing your finances alone is never easy, and that’s why professionals like John Kim’s Syncis associates offer consultations to all who need a place to start. Unless you’re a pro yourself, you might benefit from such a meeting.