NEVER INVEST IN AN ANNUITY!!!
You’ve no doubt seen this kind of headline in the financial pages or you’ve seen pop-up ads on your computer or you’ve heard some friend repeat what he’s heard from his buddy’s uncle. Are they serious? Let’s start with the basics: An annuity is a tax-favored savings instrument. The government gives it special tax treatment because it’s designed for retirement income. An annuity can be qualified or in other words, funded with money that you have not yet paid taxes on, like an IRA or an RRSP in Canada. Or non-qualified, that is, funded with money you’ve already paid the tax on. Like money you take from your paycheck or out of your savings account. Either way, the tax on the growth in your Knights of Columbus annuity each year is deferred…you pay no current tax on it and pay only when you withdraw money. I’ll tell you that I think an annuity is a is a great product in the right situation. Especially a Knights of Columbus annuity. In addition to tax deferred growth, here are a few more reasons why I think that way:
But let’s be fair; an annuity is not the answer every time. It’s not a short-term product. It’s not designed to be a “put and take” account where you stick some money in and then take it out a short time later. There is a reducing early withdrawal penalty over the first seven years if you take out more than the 10% free withdrawal. That feature, in all annuities, not just the KofC, is to encourage people to leave the money alone until retirement age. So, although there are situations where an annuity is not the proper product, there are many where it is… And we haven’t even talked about triple compounding, protection from creditors and other features. How do you know if an annuity is right for you? Meet with me and let’s look at your goals. It might be the perfect fit. Where do you keep your safe money? David O'Donnell Field Agent, Council 4057 (717) 713-0141 [email protected] Some interesting history of St. Patrick Parish can be found here, including why there are St. Patrick parishes in Harrisburg, Carlisle, and York, as well as the photo of the Shrine church shown above: https://gardnerlibrary.org/encylopedia/st-patrick%E2%80%99s-catholic-church
Brothers,
This is a CALL TO MARCH. The Carlisle Memorial Day Parade is coming up this Monday, March 27th. The parade starts at 9:00 AM. We are forming at 8:00 AM to 8:30 AM on East North Street near Bedford Street. We will be behind the Fraternal Order of Eagles, and in front of the Boy Scout Pack #168. We need about a dozen Knights to be flag bearers and carry our banner. If you have or haven't participated in a while, this is a good opportunity. The parade only last about 30 to 45 minutes. It's early in morning so you will have the rest of your day open. Please email [email protected] or [email protected] to confirm your attendance. There was some confusion at our meeting if we were signed up. WE ARE SIGNED UP. If you have a Knights shirt, please wear it. Let's show our patriotism and unity. Vivat Jesus Pennsylvania Knights of Columbus State Council (at present headed by 4057's own Mark Jago) recently launched a new resource for KofC members: a PA Knights of Columbus smartphone app. The app provides statewide information, news, alerts to members and guests, links to prayers, and a prayer request feed. Especially useful will be the texts to the opening and closing odes. Download it now: https://apps.appmachine.com/paknightsofcolumbus
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Council 4057Follow the Carlisle Knights of Columbus as they serve St. Patrick's Church and the Carlisle community. SAINT MICHAEL THE ARCHANGEL, defend us in battle, be our protection against the wickedness and snares of the devil. May God rebuke him, we humbly pray; and do thou, O Prince of the Heavenly Host, by the power of God, cast into hell Satan and all the evil spirits who prowl about the world seeking the ruin of souls.
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