Papa Insurance Agency

11/20/2025

I can help you open up an IRA account.

Some important information for 2026:

✅ What’s New for IRAs in 2026

• Contribution limits for IRAs increase. The total you can contribute to all of your IRAs combined (traditional + Roth) will be $7,500 for 2026, up from $7,000. 

• If you’re age 50 or older, the “catch-up” contribution limit also increases to $1,100 for 2026, up from $1,000 in 2025. 

• These limits apply to all your IRAs in total, not per account. 

⸻

🧾 What This Means for Traditional & Roth IRAs

• Whether you use a traditional IRA or a Roth IRA, you must stay under the same combined contribution limit. 

• Your ability to deduct traditional IRA contributions (if you or your spouse has a workplace retirement plan) depends on income levels. The IRS sets income phase-out ranges that affect deductibility. 

• For Roth IRA contributions, eligibility (how much you can contribute or if you can at all) depends on your modified adjusted gross income (MAGI). 

⸻

👥 Who Gets the Benefit

• Individuals under 50: can contribute up to $7,500 in 2026. 

• Individuals 50 or older: can contribute up to $8,600 (i.e. $7,500 + $1,100 catch-up) in 2026. 

• Even if you have multiple IRAs, you still cannot exceed those limits combined, for all accounts. 

08/10/2025

Savings Account vs Mutual Fund

A savings account and a mutual fund are both places to put money, but they work very differently in terms of risk, return, and purpose. Here’s a breakdown:

⸻

1. Savings Account
• Purpose: Safe storage of money with
easy access (liquidity).
• Risk: Very low; in the U.S., most are
FDIC-insured up to $250,000 per
bank.
• Return: Low interest rates (often
0.01%–5% depending on the bank
and type of account).
• Liquidity: Highly liquid — you can
withdraw anytime (though some
savings accounts limit withdrawals
per month).
• Best For:
• Emergency funds
• Short-term savings goals
• Money you may need soon

⸻

2. Mutual Fund
• Purpose: Investment vehicle that
pools money from many investors to
buy stocks, bonds, or other assets.
• Risk: Varies — can be low (bond
funds) to high (stock funds)
depending on the fund’s holdings.
• Return: Historically higher than
savings accounts over the long term,
but not guaranteed — value can go
up or down.
• Liquidity: Can be sold on any
business day, but sale proceeds
usually take 1–3 days to settle.
• Best For:
• Long-term growth (retirement,
college fund)
• Beating inflation over time

THE PAPA AGENCY CAN HELP YOU START YOUR MUTUAL FUND

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All Insurance & Financial Needs!

07/19/2025

https://www.primerica.com/public/why-term-life-insurance-should-be-part-of-your-financial-game-plan.html

Find the latest personal finance tips, industry insights and community updates at Primerica.

02/24/2025

The Internal Revenue Service (IRS) has announced increased retirement plan contribution limits for 2025.
The maximum amount you can contribute to your retirement plan is $23,500. The age-50 catch-up contribution remains the same at $7,500.

11/24/2024

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07/10/2024

Starting a business in California or just want to compare your business insurance?

Let me give you a free quote:

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11/28/2023

If you're a woman caring for children or other loved ones, ask yourself: did you answer “yes” to any of the below questions? If you did, you probably need life insurance. Talk to me today to make sure you have enough coverage.

11/26/2023

If you have a child, grandchild, or other loved one whose future you wish to support, help them with education costs. Start planning today.

11/24/2023

Do you have a dual income household? If so, be sure to see why experienced industry professionals Sophia Duffy and Steve Parrish maintain that life insurance can be an effective way to protect your loved ones—and the assets—that will make future generations more secure.

Learn how women can build financial security for loved ones through ownership of life insurance, both while working and in retirement.

11/22/2023

Will you and your spouse be relying on the Social Security payments you will be getting in retirement? If so, be sure to see why experienced industry professionals Jeff Quigley and Alyson Dorosky recommend using life insurance to help replace that income when one of you passes away.

Learn how life insurance can provide financial security and help replace a spouse's Social Security benefits in the event of their passing.

11/20/2023

If you're a football fan, you know that who you have on your team makes all the difference. The same is true when it comes to insurance. Unlike most term policies, New York Life offers a unique combination of features that can help if you become disabled, terminally ill, or simply want to convert to a more permanent life policy. Add a winning move to your playbook by learning what makes our term insurance the GOAT.

Term life insurance is a life benefit that guarantees the policy holders beneficiary is paid if their death occurs during a set time period.

11/18/2023

See why having life insurance is especially important to women and could be a critical piece in their financial strategies.
https://nyl.co/49FeqO5