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What We Do

At Wilcox Financial Group, LLC, we provide expert assistance in the following areas:

Individual

Traditional and ROTH IRAs

We can help you establish an IRA and determine if you should be using a traditional (pre-tax) or Roth (post tax)! The Traditional IRA is not going to be taxed today, grow tax differed and then when you retire and take distributions, you’ll pay the taxes then! Money going into a ROTH IRA is going to be taxed today, but its going to grow tax free, and all distributions in retirement will be tax free too*! Everyone’s financial situation is different, and one may be better for you than the other!

Investments

We’re fully licensed investment advisors, so if you need to purchase investments like stocks, bonds, ETF’s, and Mutual funds, we can do that for you and we will educate you along the way! Have an investment account already and just need a second set of eyes or someone to help you manage it? That’s also right in our wheelhouse.

Life Insurance

Have people in your life you love and want to make sure they’re taken care of when you die? Have debt you need to make sure can be paid off in the event you die? We can help determine how much life insurance you need and what kind! There’s a lot of information out there about life insurance, and there are a lot of different types: Term, Whole Life, Universal and Variable Universal life- it’s our mission to make sure you get what’s right for you and you understand what you’re buying!

Disability income insurance 

Can you continue to maintain your lifestyle, save or pay your bills if you weren’t getting your paycheck anymore? Disability insurance replaces your income in the event you were sick for a long period or injured and unable to work. Many people have a group plan through their employer, but it really isn’t enough. We help determine what’s right for you and making sure you have adequate coverage. Having cancer or being seriously hurt from an accident is awful, and it’s worse when money becomes a problem.

Long Term Care Insurance

So we are living years longer than we ever have before, and needing help! The cost of care when we age, whether you want a nurse coming to your home, assisted living or need full time nursing home care; it’s extremely expensive and can evaporate your hard-earned assets FAST. Medicaid also may not be your # 1 choice, so long term care insurance can help pay for care and keep life comfortable and safe (in your own home!). This can no doubt be a great gift to your kids, because even though you may like to harass them, you may not want to be a burden. The insurance is complicated and can be designed many ways, we make it simple and help you come to a decision you feel confident in.

Annuities 

Annuities can have a bad rep and they aren’t right for everyone. Occasionally though, they provide some pretty awesome guarantees that if it’s the right fit you may appreciate. There are fixed annuities and variable annuities, both come with a lot of different options and many companies sell them. If you have questions, we have answers! We can educate you on the details, fees involved and how they work. We can help determine if an annuity fits into your financial plan!

529 Plans

These plans can have some nice tax perks if you plan on sending your kids to college, however they must be used for college! If this is a goal, lets chat about what option may be best for your family.

403(b) Plans

Are you a NYS teacher for one of the public schools and want to start saving for retirement? You have a 403(b) as an option, and we can help set that up for you! We’ll talk about the investment options, how much you should think about saving per your individual situation and how a 403(b) works!

Fee Based Financial Plans

We make sure achieving for financial goals is non-negotiable. Our financial planning services are listed under the “Fee based financial planning” section on our website. It’s our mission to make sure you aren’t meeting with us just one time and never hearing from us again, but understating your financial situation in terms you understand! We provide financial coaching to work with you throughout the year, checking in to make sure you’re staying on track to reach whatever it is that’s important to you. We keep it simple, fun and practical!

Business

SIMPLE IRA, SEP IRA

If your business isn’t ready for the full commitment yet of a 401(K) plan a SIMPLE IRA or SEP IRA are pre-tax employer sponsored plans that don’t have annual administrative costs. These plans are simple to maintain and each have their own set of pros and cons we will review with you!

401(k), 403(b), 457(b) 

Group retirement plans that can be pre-tax and have a ROTH savings feature too. Qualified retirement plans are a great way to attract and retain employees. We work with business owners to either set up a plan that meets the company’s goals and vision, OR review a plan that is currently in place to see if we can add value! Often, we’re able to enhance the plan service, review investments, plan design and options that may be more in line with how the companies changed over time. We also constantly audit plans to see if fees can be lowered!

Supplemental Disability Insurance 

Supplemental disability insurance can be offered to groups as a guaranteed issue of 25 people or more, or as a voluntary supplant plan to group disability insurance already provided by the company! This is a great way to make sure that employees have full coverage for anything the group plan may fall short on. Often if group disability is taxable, this can help cover that gap, or protect bonus and commission checks! Everyone and every company is different, so talk to us about how this can work for you!

Group Whole Life 

This is a great solution for companies looking for a rich portable benefit for employees as an alternative or added benefit to the traditional group term insurance. This is for you if your company has more than 50 employees.

Executive/Key Employee Benefit Planning

Looking to provide additional benefits or compensation to your Key employees without having to follow ERISA guidelines or rules that apply to everyone? We can custom tailor strategies for the people you want to reward and talk about what may be an effective strategy!

Buy-Sell Funding

In business with a partner(s)? You should have a legal document that talks about a buy-sell strategy in the event of death, disability, divorce or retirement. Often, if one of the owners in a company dies or is disabled it creates financial strain on a company and funding this can be imperative to future operations. We have years of experience and resources to find solutions to fund gaps you don’t want exposure too!

Exit Strategy Planning 

If you aren’t planning on working until you die and you want to make sure there’s an effective business transition, exit or succession for you, it’s a good idea to have a solid plan in place -years in advance! Of course, things change and all plans should have a level of flexibility, however the sooner you start down the road for this, the greater chance of success.

Financial Wellness Programs

Employees have a lot on their plate, and many benefits are offered to them for health, retirement and protecting their family. However, what about their current financial situation or knowing if their retirement is properly funded? We have many different financial wellness programs for employees that can be in group workshops or individual planning for select employees as an extra benefit. Financial wellness is no joke and the benefits can be exponential in the workplace.