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Retirement & Investment Planning Services

In addition to our insurance services, Carrie Polk Insurance offers a range of retirement and investment planning services in Prince Frederick, MD. Your retirement may seem a long while off, but our team will work with you to build your assets, set your financial goals, and help you put away enough to help you live comfortably after your retirement.

Mutual Funds

A mutual fund is a professionally managed investment fund composed of a pool of funds collected from a group of investors. This pool is used to invest in bonds, instruments, money market, stocks, and similar assets. Money managers operate mutual funds and invest the fund’s capital and attempt to create capital gains and incomes for the fund’s investors. The fund’s portfolio is maintained and structured to match the objectives stated in its disclosure document.

An advantage of investing in a mutual fund is it gives its investors access to a diversified and professionally managed portfolio of bonds, equities, and other securities which would not be as easily accessible with a smaller amount of capital. Each shareholder in the mutual fund participates in the loss or gain of the fund. Our team of advisers will work with you to create a plan that is balanced and matches your investment style.

Investing involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved.

College Saving Plans (529 Plans)

A 529 plan is a type of education savings plan designed to help families and individuals set aside funds for future college costs. These types of plans are sponsored by states or state agencies and are named after Section 529 of the Internal Revenue Code, which created these savings plans in 1996. These funds may be used for books, tuition, or other education-related expenses at the majority of accredited two- and four-year colleges and universities, U.S. vocational-technical schools, and eligible foreign institutions.

You must be 18 years or older (or the age of majority in some states) to invest in these state plans. There are no income restrictions for contributing to a 529 plan, but contributors must take care to not over-fund the 529 plan, as the amount in the account cannot exceed the amount that covers the beneficiary’s qualified higher education.

Investing involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved.


An annuity is a long term investment product that is designed to help protect individuals from outliving their income. Through annuitization what you contribute can provide you with steady income during retirement. One of the main advantages to an annuity is there is no annual contribution limit for an annuity, which can be useful if you are approaching retirement age and have some catching up to do. The amount you put away also compounds without being taxed, which keeps all of your hard-earned dollars working for you. When you want to cash out on your annuity, you can either receive your assets in one lump sum or have a payment schedule that stretches out a defined period of time or until the end of your life.

Annuities are contracts purchased from a life insurance company. Withdrawals are subject to income tax, and withdrawals before age 59½ may be subject to a 10% tax penalty.

There are limitations for annuities. They are designed as long-term vehicles used for retirement purposes. An annuity is not meant to fund short-term savings goals, replace emergency funds, or be used for day-to-day expenses. Annuities are contracts purchased from a life insurance company. Withdrawals are subject to income tax, and withdrawals before age 59½ may be subject to a 10% tax penalty.

  • Variable Annuity: This type of annuity allows you to choose from a variety of investment options, such as stocks and bonds, and in retirement, you are then paid a level of income that is determined by how well your investments perform. This creates a less stable cash flow than a fixed annuity, but if your investments perform well, you will reap the benefits of a strong portfolio.
  • Fixed Annuity: A fixed annuity functions like a CD, in that it pays a guaranteed rate of interest. This type of annuity is popular with retirees because it creates a steady income stream that complements their other retirement income strategies. They also require low investment minimums and avoid taxation until the funds are withdrawn. While this is an appealing option for many people, others choose a variable annuity to better account for inflation and market changes.
  • Equity-Indexed Annuity: This type of annuity combines features of a fixed and variable annuity. For example, investors are guaranteed a minimum return like they would receive with a fixed annuity, but also have a chance to gain more if the stock market is performing well. The return on an equity-indexed annuity is tied to the performance of a benchmark index. However, if the index is experiencing a negative performance your account will not decrease.

*Before investing, understand that annuities are not insured by the FDIC, NCUSIF or any other federal government agency, and are not deposits or obligations of, guaranteed by, or insured by the depository institution where offered or any of affiliates. Annuities that involve investment risk may lose value.


A 401(k) is a retirement plan offered through your employer. Upon enrolling you decide what percentage of your paycheck will be put into the account. Contributions are deducted from your paycheck and go directly into your 401(k) before taxes are withheld. The contributions are then placed into investments that you select based on your retirement goals and risk tolerance. When you retire, you can support your living expenses by the money you have in your account.


An IRA or Individual Retirement Account is designed to help you save for retirement and works like a savings account, with specific tax benefits. IRAs allow your money to grow without taxes limiting its growth potential. There are certain limitations and eligibility restrictions based on your employment or income status.

  • Rollover IRAs: A Rollover IRA allows you to consolidate your retirement accounts such as a 401(k) from past employers into a single IRA. This puts all of your money into a single account where it can be more easily managed. This also gives you more control over where to invest your funds.
  • SEP IRA: A Simplified Employee Pension or SEP IRA is for self-employed individuals or small business owners. If you own a business with one or more employees, or earn freelance income, you can open a SEP IRA. Contributions are are tax-deductible for the individual or business and are deposited in a Traditional IRA held in the employee’s name. The employer to the account, while the employees of the business cannot contribute. Funds in a SEP IRA are not taxable until withdrawn, like a Traditional IRA.
  • SIMPLE IRA: A Savings Incentive Match Plan for Employees or SIMPLE IRA is another type of Traditional IRA for self-employed individuals and small businesses. You contributions are tax-deductible as with most traditional IRAs. The investments are also tax deferred until you make withdrawals in retirement.

    Unlike a SEP IRA, employees can make contributions into a SIMPLE IRA. What sets a SIMPLE IRA apart is that the employer is required to make a contribution on their employee’s behalf—either as a flat 2% of pay or a dollar-for-dollar match of up to 3% of their salary—regardless of the employee’s contribution.

    This type of IRA have higher contribution limits than Roth or Traditional IRAs. In addition, it is easier to set up and run a SIMPLE IRA compared to other workplace retirement plans.

Long Term Care Planning

Long term care extends beyond insurance policies; it is more a strategy to ensure you are taken care of and can live comfortably in your later years. Long-term care often serves as an umbrella term for a range of support and services you need to handle the tasks of daily life. Long term care planning includes a range of decisions such as determining your living arrangements and if you would like to invest in long term care insurance.

Retirement & Investment Services You Can Trust

Carrie Polk Insurance provides a range of retirement and investment planning services in Prince Frederick, MD. We are proud to be the team clients trust to help them find the solutions they need to protect their lifestyles and secure a financial future. As part of the Nationwide Financial family, we are always “On Your Side®”!