Sentences with phrase «lump sum payment into»

As a further note, I'm asking this now because I plan to make a lump sum payment into the loan from my tax refund, but have held off on doing so until I know whether or not it would be wise.

One thing that seniors might consider is a single premium option which is a lump sum payment into a policy in return for a certain amount of death benefit.

Let's say you aren't able to split a lump sum payment into two and are forced to take one large lump sum.

By splitting the lump sum payment into two, you'd lower your tax bill because the second payment would be taxed when you receive it (in the following year).

If possible, consider putting part or all of any bonuses, tax refunds or other lump sum payments into your retirement savings, and don't assume that your current retirement plan contributions are enough.

I've been making responsible payments into my loan for years now, and I've been making lump sum payments into my loan each time I come across a significant windfall.

Not exact matches

Many enter into balloon car loans thinking that they'll see an increase in their income by the time the payment is due, often leaving themselves unable to pay down the lump sum.

You can pay in a lump sum or opt into our payment plan.

Instead of paying a large lump sum on an annual or semi-annual basis, these fees are automatically consolidated into your monthly mortgage payment so you don't even have to think about it.

When an individual retires under a DB plan, she is entitled to a stream of payments that has a lump - sum value that we calculate using standard actuarial methods (which take into account expected mortality patterns and adjust the sum of payments to reflect the fact that they are received over many years rather than at a single point in time).

Many enter into balloon car loans thinking that they'll see an increase in their income by the time the payment is due, often leaving themselves unable to pay down the lump sum.

Splitting a large lump sum into two smaller payments over two different years means you'll pay less taxes overall.

More importantly, refinancing this type of loan into a traditional car loan allows you to turn that large payment into smaller payments paid out over time, freeing up a lump sum of cash you would have otherwise paid out.

But if you get laid off near the end of the year there is no harm in asking if a severance payment (usually a lump sum) can be divided into two smaller (equal) payments — one in the current year and one in the following year.

Variable Annuity — An insurance company contract into which the buyer makes a lump - sum payment or series of payments.

The process of converting a pension or annuity into a lump sum payment.

In debt consolidation loans, all of your monthly bills are put into one lump sum payment that you can afford to make.

Mortgage insurance may come with a typical pay - as - you - go premium payment, or it may be capitalized into a lump - sum payment at the time of mortgage origination.

An income annuity that converts a lump - sum premium payment into a stream of income payments beginning within one year from purchase.

Q: My husband is retiring from teaching and will receive a large lump sum payment, but if he doesn't put it into a retirement specific account he'll have to pay about 30 % in tax on this sum.

Consider property taxes: If your property taxes are $ 6,000 a year, you can either pay this figure in a lump sum or you can add $ 500 a month into your monthly mortgage payment.

A lump sum is a one ‑ time payment, usually rolled into an IRA, and managed as an investment portfolio to generate retirement income.

Even if you decide you're more inclined to go with the annuity, you should first determine whether the monthly payments you'll receive from your pension will be higher than what you could get by taking the lump sum, rolling it into an IRA and then buying an immediate annuity within that IRA that will make lifetime payments.

Whereas, a life insurance contract is an asset that is designed (at least traditionally) to provide a death benefit to one's estate, an annuity is centered around converting a lump sum payment (or series of payments) into a stream of income for a fixed period (usually for life).

Immediate Lifetime Annuity: An account that provides payment as soon as a lump sum of money is deposited into the account.

A SPIA, or single premium immediate annuity, is designed to generate instant income during retirement by taking a lump sum of money and converting it into systematic payments that continue for a specified period of time or for the life of the insured individual.

During the distribution phase of the contract, an fixed annuity can be converted into a series of income payments for your entire lifetime, over a set time period — or one lump - sum payment.

During the distribution phase of the contract, a fixed annuity can be converted into a series of income payments for your entire lifetime, over a set time period — or one lump - sum payment.

During the distribution phase of the contract, a variable annuity can be converted into a series of income payments for your entire lifetime, over a set time period — or one lump - sum payment.

You would make payments into the account each month and a lump sum payment is made to the creditor when the dedicated account balance is high enough to pay the settlement amount.

Depending on the terms and conditions of the plan (refer to prospectus), there are also some options of converting ongoing payments into a single lump sum payment after the plan has been active for a certain number of years and not contribute any further.

The lump sum premium payment is an attribute of immediate annuities and ALSO means that they fall into the category of non-qualified annuities as compared to qualified annuities.

Reinvestment into another plan, a lump - sum payment or a lifetime annuity purchase can also be arranged.

Reverse mortgages allow homeowners age 62 and older to convert a portion of their home equity into tax - free loan proceeds, which they can elect to receive either in a single lump sum payment, monthly installments, or through a line of credit that allows funds to be withdrawn as needed.

The repayment plan takes other financial commitments into consideration and instead of making a huge lump sum payment, you can make small installments.

While home equity loans give you all the flexibility and benefits of tapping into the value of your home when you need it, a home equity loan offers a lump - sum payment.

«Commutation» is a term which generally means the process of converting a pension or annuity into a lump sum payment.

A reverse mortgage is a loan where home equity is converted into a lump sum payment or series of payments to...

Two ways to tap into your home equity are: a home equity line of credit (HELOC) or a lump sum loan against which you make monthly payments.

This is different from debt negotiation in that a debt negotiation company has you make payments into a trust account and then pays the creditor in a lump sum at a reduced rate.

You can choose to put your challenge savings into your emergency fund, invest it, put it toward debt as a lump sum payment at the end of the year, or to pay for Christmas gifts for your friends and family.

(A present value is a single number that expresses a flow of current and future payments in terms of an equivalent lump sum paid today; the present value of future cash flows depends on the discount rate that is used to translate them into current dollars.)

SIP plans provide a systematic form of investment where you can organize or plan your investment and break into smaller payments rather than invest a huge lump - sum amount in one go.

At first glance, I'd say you probably don't need to put any of your savings into an immediate annuity, a type of investment that converts a lump sum into guaranteed monthly payments for life.

You could put the lump sums that accrue from the coupon payments and bond maturities into the worst performing component of the sleepy portfolio.

Once the payments have been made and your debts have been combined into one lump sum amount, the company that you have hired will give you a payment schedule that you must follow for your payments.

You may even lose your job at some point; experience a disability; retire early, transfer a commuted value lump - sum payment from your pension into a locked - in RRSP; or decide to defer your pension start date at retirement — all things that could create a year or number of years where your income is significantly lower and strategic RRSP withdrawals could be made at a lower tax rate than today.

For a small / regular premium, people could assure themselves of an increasingly valuable financial asset which transforms into a large lump - sum payment upon death.

Annuity payments are received until death and can't be commuted into a lump sum.

You will enter into an agreement by which you will make monthly payments (or sometimes lump sum payments) to be rid of the debt forever.