CONGREGATIONS
Today, many church congregations are needlessly hurting financially. Solomon Ministries informs God‘s people of the financial truths taught by the Bible. We counsel congregations on the often confusing topics such as planning for retirement, healthcare, and legacy planning in a biblically responsible manner with the ultimate goal of supporting God‘s Kingdom.
FOUR FINANCIAL PIT FALLS FOR CHRISTIANS
Solomon Ministries' over 30 years of experience has provided them with a unique insight into the common financial pitfalls in which Christians fall victim. These pitfalls were created by the secular world, but Solomon Ministries equips Christians with proven faith based solutions to avoid financial disaster and provide the security the Lord wishes for his followers.
RETIREMENT: Investing in the Wrong Places
Investing your hard earned money in the financial vehicles that can give you the highest return on your investment with the least risk is very important. However, just as equally as important is investing your many with companies that share your same Christian values.
DEBT:
Overextended & Interest Charges
The average Christian can borrow money in the form of credit cards or personal loans very easily these days. Banks have preyed upon Christians tempting them with instant gratification for the worldly goods they want now. This temptation has led many Christians to financial hardship.
HEALTH CARE: Rising Costs
Due to advances in medical care, better nutrition and generally higher standards of living, more people are living longer. This fact and others have led to the continual rise of health care costs leaving most people one medical catastrophe away from financial ruin.
Did you know?
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A person age 65 or older who is covered by Medicare will pay out-of-pocket costs of around $4,900 annually on health care costs.
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The out-of-pocket costs for the average family of four with employer-subsidized health insurance is around $9,700 annually.
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Out-of-pocket costs for Americans with employer-sponsored health coverage rose faster than the costs that their insurers paid.
Solomon's Solutions for Health Care
Solution One: HYBRID LONG-TERM CARE PROTECTION
Hybrid long-term care protection is an alternative to long-term care insurance. Insurance companies have developed this option by using life insurance and annuities to provide long-term care assistance. We can help you decide whether a peer partnership plan or using annuities and life insurance is better for you when mitigating the likelihood of a significant long-term health event.
Solution Two: LONG-TERM CARE PARTNERSHIP PLAN
According to the New England Journal of Medicine, the greatest financial risk seniors have is a long-term care stay. This is why most states have passed a new law called the Long-Term Care Partnership Plan. Solomon Ministries is able to help you understand a distinctive difference between the Long-Term Care Partnership Plan and traditional long-term care insurance. The last thing you should have to worry about during a long-term health crisis is the financial cost.
Solution Three: MEDICARE - MEDICARE SUPPLEMENTS - MEDICARE ADVANTAGE PLANS
The Medicare system seems to be an every-changing program. Solomon Ministries can help you with answers to your Medicare questions and concerns. Which one is better for you? You might be able to save thousands of dollars depending upon which one you get. We can help you choose. Solomon Ministries can also help you understand the difference between Medicare supplement and Medicare advantage plan.
RETIREMENT: Investing in the Wrong Places
Investing your hard earned money in the financial vehicles that can give you the highest return on your investment with the least risk is very important. However, just as equally as important is investing your many with companies that share your same Christian values.
Did you know?
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Most Christian investors in the stock and bond markets are unknowingly supporting companies involved in the Abortion, Pornography, Gambling, and Unwholesome Entertainment industries.
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Invest firms rarely adjust their clients invest portfolios as their clients age.
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Investments in the stock and bond markets without diversification leave investors susceptible to extreme swings in retirement value and inflation.
Solomon's Solutions for Retirement
Solution One: FINANCIAL PLANNING
Financial technology is developing at a rate like never before. With the tools and resources available today, we can better provide smart portfolio management that has, historically, never been possible like it is right now. We aim for our money management to be intelligent, proactive, and simple.
We partner with a Faith-Based investor, an independent company that carefully vets each investment to help ensure biblically responsible investments.
Solution Two: SOCIAL SECURITY MAXIMIZATION
With over 100 different options for how and when to take Social Security benefits, many retirees wonder about the best strategy. We help by maximizing Social Security with an in-depth analysis of your individual situation to determine when to take your benefits and how to file. Understanding how your Social Security income is taxed is also a priority for many retirees. Our experience with benefits helps us discover how we may help you to increase income and reduce taxes.
Solution Three: SPECIAL PROGRAMS FOR RETIREMENT INCOME
Many retirees are considering fixed index annuities (FIAs) as a great option for their retirement funds because they offer the opportunity to participate in market-linked returns with no market downside. These unique products offer the potential for a steady lifetime income without the same market volatility experienced in 401(k)s and other employer-sponsored retirement plans. We offer a complimentary annuity review for all those in our community who want to understand their existing annuities or potential annuities.
Solution Four: IRA/401(k) ROLLOVERS
There are more options today than ever before for your IRA funds or 401(k) qualified dollars. We provide various options to help grow and protect your retirement dollars. A rollover may be simpler than you thought.
Solution Five: LEGACY PLANNING
Legacy Planning is an important part of every retirement plan to have an estate strategy to help protect your legacy. We work with skilled attorneys with expertise in living wills, trusts, powers of attorney, and other estate planning documents to make sure your legacy is transferred to whom you want and when you want.
TAXES: Paying Too Much
Taxes are necessary and provide general benefits to the public. However, it is important to know the tools available to you to ensure you do not pay more than your fair share. Christians with proper guidance can reduce their tax burden in many areas.
Did you know?
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If you are getting a significant refund from the IRS each year, you are overpaying on your taxes.
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Common reasons your withholdings might change are marriage, additions to the family, or job loss/gain.
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Long-term capital gains and qualified dividends are generally taxed at special capital gains tax rates of 0 percent, 15 percent, and 20 percent depending on your taxable income.
Solomon's Solutions for Taxes
Solution: TAX PLANNING
Understanding your taxes are more important when you retire than at any other time in your life because they can reduce your lifetime income significantly if not handled correctly. Solomon Ministries knows the different ways assets can be taxed and track changes to state and federal tax laws. We make sure people are properly advised on how to adapt; thus, reducing tax liability and putting more money in your pocket.
DEBT: Overextended & Interest Charges
The average Christian can borrow money in the form of credit cards or personal loans very easily these days. Banks have preyed upon Christians tempting them with instant gratification for the worldly goods they want now. This temptation has led many Christians to financial hardship.
Did you know?
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More than 189 million Americans have credit cards.
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The average credit card holder has at least four cards.
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On average, each household with a credit card carries $8,398 in credit card debt.
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Total U.S. consumer debt is at $13.86 trillion.
Solomon's Solutions for Debt
