Articles Tagged: The Salmon Agency

Planning for the Future Series: Retirement & Education Funding

Monday, February 28, 2011

With constant talk of the economy and the number of baby boomers retiring, many people are thinking about the future. These days, it’s not uncommon to begin researching methods to plan for your child’s education not long after they enter the world. Whether planning for your child’s education or looking to retire, here are some answers to some of your frequently asked questions:

Can I take money from my individual retirement plan to pay for my child’s education?

Traditionally you would incur a 10% early distribution penalty for withdrawing money from a traditional or Roth IRA before you reach age 59-1/2. Luckily, there is an exception for distributions used to pay qualified higher education expenses. Keep in mind that the qualified higher education expenses must be for you, your spouse, your children or your grandchildren. For more details, visit the FinAid website. 

How can I save on my taxes while setting aside retirement income?

By utilizing an IRAs, whether traditional or Roth, you can receive a great tax savings. You will only pay taxes on your investment gains when you withdraw money in a traditional IRA and might be able to deduct contributions to the plan. Conversely, with a Roth IRA, you cannot deduct contributions but you can take advantage of tax-free growth and laws were changed to allow you to contribute more to the Roth IRA.

What’s my best bet for long-term growth for retirement savings?

If you have the time and the patience, you will find that investing in stocks will increase your ability to achieve higher returns over the long run. Whether you have a lifetime or little time to save, remember to plan wisely for retirement. Use the Social Security Administration’s calculator to find out how much you can expect to expect in Social Security when you retire.

Have more questions or want to get started? Turn to the experts at The Salmon Agency. Give us a call at 407-365-1766 and take a positive step toward your future!

Allstate Foundation Empowers Domestic Violence Survivors in Central Florida through $41,000 Grant to Harbor House

Tuesday, July 20, 2010

ORLANDO, FL. July 20, 2010 – Domestic violence has touched many lives in Central Florida and thanks to a continued partnership between Harbor House and The Allstate Foundation, families can have a second chance at a new start. The Allstate Foundation recently renewed its commitment to assisting survivors of domestic violence in the Central Florida community through a $41,000 grant to Harbor House of Central Florida, the voice for victims and survivors of domestic violence.

Lincoln Salmon Presents Grant to Carol Wick, CEO of Harbor House

The grant, funded through Allstate Foundation's Economic Empowerment for Domestic Violence Survivors (Economics Against Abuse) Program, will help survivors build financial independence by providing knowledge, skills and opportunities to survivors. Allstate agents, such as Lincoln Salmon of the Salmon Agency in Oviedo, FL., partner directly with Economics Against Abuse grantees to implement curriculum.

“We recognize that state domestic violence coalitions and local domestic violence programs are uniquely situated to identify and respond to the economic advocacy needs of survivors,” said Allstate Agent Lincoln Salmon of The Salmon Agency. “We are proud to partner with Harbor House in providing our financial empowerment curriculum to enable survivors of domestic abuse to engage in short-term and long-term planning to accomplish their personal and family goals.”

The Allstate Foundation grant will help Harbor House to provide the Economics Against Abuse curriculum to over 875 women in the emergency shelter and through outreach as an Allstate Economic Empowerment site. Harbor House will also offer this program to Transitional Housing and Scattered Site programs and plans to train additional community partners to provide financial stability services for domestic violence survivors.

“Victims of domestic violence often make several attempts to leave an abusive partner and are typically forced to return for economic reasons,” said Carol Wick, CEO of Harbor House. “It is our priority to ensure that all survivors have the tools that they need in order to gain that self sufficiency and the Allstate Foundation’s grant and Economics Against Abuse program will help us to empower survivors to financial independence.”

Find out more about Allstate’s “Click to Empower Domestic Violence Survivors” program at www.clicktoempower.org. For more information about Harbor House of Central Florida’s programs or to donate, please visit www.harborhousefl.org. Please visit the Salmon Agency website at www.salmonagency.com.

About Harbor House

Harbor House is Orange County's only state-certified domestic violence facility and seeks to eliminate domestic violence in Central Florida by providing safety, shelter, empowerment, education and justice. Harbor House provides safe shelter, a 24-hour crisis hotline, counseling, and emotional support, and legal advocacy for tens of thousands of domestic violence survivors and their children each year. Harbor House helps survivors return to the community - connecting them to resources that will enable them to live independently, safely and peacefully.

About The Allstate Foundation
Established in 1952, The Allstate Foundation is an independent, charitable organization made possible by subsidiaries of The Allstate Corporation. Allstate and The Allstate Foundation sponsor community initiatives to promote "safe and vital communities"; "tolerance, inclusion, and diversity"; and "economic empowerment." The Allstate Foundation believes in the financial potential of every individual and in helping America's families achieve their American dream. For additional information, visit www.clicktoempower.org.