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Frequently asked questions

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Financial Tips & Tricks

About our strategies

DO I HAVE TO PAY taxes if i move my ira?

No. We can set-up your account as an IRA. As a result, you don’t pay taxes when you move your IRA.

WHY PUT a ty j. young wealth management account in my ira?

The reason people decide to put a TJY account inside an IRA account is simple… the benefits it affords them. You choose the type of account for your IRA based on the benefits it provides you. You can put numerous types of accounts inside an IRA. When you choose a TJY account, the benefits you receive are tailored towards your IRA: safety of principal and growth. That’s what most people want.

what are ways my money can be completely protected against losses?

1. FDIC Insurance
2. Treasury Bonds
3. Guaranteed Insurance Contracts.
Talk with one of our strategists to see if one or more of these tools are right for you.

i don't like annuities, but i want to be protected. What are my options?

There are three ways to have your money completely protected against losses. The first is FDIC insurance. In a one-year CD right now, the rate of return is going be about 1%, which is not acceptable to most people. The second way is treasury bonds. If you buy a 10-year treasury right now, you will get about a 2% rate of return. The third way to have your money completely protected against losses is with a guaranteed insurance contract. The best guaranteed insurance contracts historically average about a 6 to 8% rate of return. A good guaranteed insurance contract allows you to go up with the market, lock in your gains, and when the market goes down, you don’t lose anything. You do receive compound interest, and there are no fees.

My broker says they can offer me this investment strategy, why should I choose you?

Our firm has been recognized as a nationwide thought-leader in conservative, growth strategies. We specialize in investments plans which eliminate downside market fluctuations.

you say the historical average is 6%-8%, what can i realistically expect?

It comes down to a number of different factors. Your rate of return is determined not only by the crediting method, but also by the anniversary date. There are 365 different anniversary dates in a year, so the returns are going to vary based on those anniversary dates and the crediting method. Historically, the very best accounts are averaging between 6 and 8% through the maturity of the account.

Do annuities have high fees?

Yes and no. While some annuities may have high fees, the best annuities do not charge annual fees.  To learn more about annuity myths, read this post by our top financial advisors on common misunderstandings of annuities.

HOW DOes ty j. young wealth management make money if you don't charge a fee?

We focus on long-term, conservative growth strategies. You’re never charged an annual fee with our firm because of the time commitment inherent in any long-term growth investment.

What if the insurance company goes belly up?

What a great question. These are guaranteed insurance contracts. To gain the status of a guaranteed insurance contract, the insurance company must meet state reserve requirements with your money. Those reserves are separated, segregated, and monitored on a regular basis. So, God forbid the insurance company does go belly up, there is enough money in reserve accounts to pay you back. Because of that track record, because of those reserving rules, in the history of our country, no one has ever lost one cent in a guaranteed insurance contract. And because of that reputation, I feel very comfortable telling you your money is in a protected place. All of that being said, I highly recommend that you do business with a highly rated insurance company. At Ty J. Young Inc., we call them top tier financial ratings: A-, A, A+. Those are the best ratings out there. Look for insurance companies with those ratings.

can i move my current ira or 401k to an annuity without taxation?

Moving your money from your current IRA to a fixed index annuity that is an IRA is easy, and you can do it without taxation. At Ty J. Young Inc., what we’ll do for you is set your annuity up as an IRA. Then, we can transfer your current IRA into your index annuity that is an IRA. We can do it without taxation and with no fees on our end. You could also roll a 401(k) over to your index annuity that is an IRA: again, without taxation. So absolutely you can.

i have an ira, but i have to take the required minimum distribution.

When you reach the age of 70.5 you are required by the IRS to take out the required minimum distribution. If you don’t take it out, they penalize you. You can always take your required minimum distributions out of your index annuity without penalty.

how long do i have to wait to get my money out?

Many people ask me that question. When can I get my money out? How long do I have to wait to get my money out? The truth is, you are in control. You choose the number of years that you want, whether you choose five years, or seven years, or 10, or 15—whatever you choose, that’s up to you. After one year, you can take out 10% per year, every year, for any reason, with no penalty at all from the insurance company. Let’s say you chose an eight year account. After those eight years are complete, you can take all of your money out with no penalty whatsoever. To review, you can take out 10% per year after the first year without penalty. Then, when the time commitment is complete, you can take all of your money with no penalty whatsoever from the insurance company.

i want to see something in writing. Will you send a prospectus?

Is there a prospectus for a good index annuity? The answer to that is no. A prospectus is a document that is required to be given to you if you are about to buy an investment where you can lose money. A security, for example, requires a prospectus. Now, a good index annuity is not a security – it is a guaranteed insurance contract. Your principal is guaranteed against losses. So, no prospectus is needed here. The way it works is first you’ll receive an application then once the money transfers you’ll receive your policy book. All the terms are stated and known upfront and then you’ll actually see them in writing on the contract. You have something called a free look period. The times vary depending on the state, but it is at least 10 days usually. During this time, you can look at your contract to make sure it is exactly what you thought, and if it’s not, you can give it back—get your money back—without penalty and without fees. Folks take a lot of comfort and solace in knowing they have the free look period working to their advantage.

Financial tips & Tricks

how to choose a financial advisor?

Credentials are a good starting point, and the advisor’s experience is often equally as important. You should trust and respect your financial advisor. Good advisors listen to your needs, goals, and concerns. You can research the company reviews to see what customers are saying about the financial advisor. Word of mouth and online recommendations are useful tools as you determine whether or not the company or advisory is suitable for you. To learn more about choosing a financial advisor, check out this article about Ty J. Young Wealth Management https://www.tyjyoung.com/2020/11/23/meet-our-team/.

What is the best way to utilize my savings?

There are different tips and tricks to saving money, but sometimes it’s simple. Paying down high-interest debt such as credit cards will help you save money. Everyone also needs an emergency fund because you always have unforeseen expenses, Most advisors recommend an emergency fund equal to three to six months’ worth of your expenses, depending on the volatility of your job. Ty J. Young Wealth Management recommends that you max out your tax-advantage accounts like 401(k)s, IRAs, and 529. Read this article on what to do with savings, https://www.businessinsider.com/personal-finance/what-to-do-with-savings. Or check out our three step guide to beating financial stress https://www.tyjyoung.com/2020/07/28/the-ultimate-3-step-guide-to-beating-financial-stress/.

What is the best way to invest your money in your 20s?

Investing your money in your 20s means you’re getting a head start of most people. Get help managing your money from experts who can help guide you to make the right decisions. For example, you may be able to take advantage of employee benefits such as 401(k) and matching benefits. If a 401(k) isn’t an option, see if you meet the income requirements for a Roth IRA. As time goes on, you want to incrementally raise your savings rate. Check out Ty J. Young’s how-to ensure your retirement goals as a 20 something https://www.tyjyoung.com/2020/10/20/tys-how-to-how-to-ensure-your-retirement-goals-as-a-20-something/ !

is real estate a good investment

Real estate can generate passive ongoing income and can be good long-term investment if the value increases over time. However, you will need to put down a significant amount of money upfront in order to invest in real estate. Check out this article on how to successfully invest in real estate. https://www.thebalance.com/is-real-estate-a-good-investment-2386365.

what are some financial tips for the middle class?

Middle class homes make up a large portion of America and there’s a way to help protect your nest egg. Adjusting your lifestyle to your income level by setting realistic financial goals is a good first step. Then make a plan to set aside money for investment. It seems simple, but saving your monthly income and investing regularly makes a world of difference. Since taxes absorb a significant portion of income, you want to strategize on effective tax planning. Avoid buying depreciating assets, in other words, spend smartly. Learn more about financial tips for the middle class in this article https://tinyurl.com/yyqyg9c7.

what is the best way to start investing?

Starting to invest your assets is always exciting. The best way to begin is deciding how much you want to invest and understanding your investment options. These may include stocks, bonds, guaranteed insurance contracts, mutual funds, and exchange-traded funds. Then, you want to pick an investment strategy that best fits you. Check out this article https://www.nerdwallet.com/article/investing/how-to-start-investing on how to start investing. If you want to learn how to invest like the wealthy, read our article here https://www.tyjyoung.com/2020/09/22/how-to-invest-like-the-wealthy/ to learn more tips from our top financial advisors.

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Sara Newman
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"I owe my success to having listened respectfully to the very best advice, and then going away and doing the exact opposite."

MAria Norton
General Manager

"I owe my success to having listened respectfully to the very best advice, and then going away and doing the exact opposite."

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Senior Advisor

"I owe my success to having listened respectfully to the very best advice, and then going away and doing the exact opposite."

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