Today I want to list some of the most common EXCUSES for not buying LTC insurance
Frankly that is exactly what they are. By not planning for your LTC needs by default you get the government plan for LTC. If you truly understand that this is a fact you would not use any of these excuses!!!
A, It wont happen to me!
B, If I don't use it I loose the money!
C, It is to expensive!
D, I will just self insure!
E, I am to young to buy it!
F My Health insurance plan, Medicare or Medicaid pays for LTC
Please give me your ranking in order of priority numbers 1-6 with 1 being the highest valued answer in your mind!
Now for some TRUTH about the above items A-F
A If you take 2 couples or four adults the truth is at least two out of the four will need LTC!
B Yes sometimes that is true but there are several products available that eliminate that risk!! Call to arrange a meeting to learn how to avoid that risk!
C The cost is actually modest if you consider the risk and if you buy the policy early enough!
D How much money does it really take to self insure. Some people truly are able to self insure but the funny thing is that most of them go ahead and buy LTC Insurance because it is a SMARTER use of their resources. In reality most of the people who want to self insure do not have enough assets protected from market risk to be able to Self Insure!
E The only protection from being medically uninsurable is to buy it while you still think you are to young to buy it. Every year you delay you just increase the costs for the premiums!
F Only about 10- 12 percent have LTC Coverage today. Your Major Medical Plan does not pay for LTC, Medicare Does not pay for LTC, and Medicaid only pays after you and your family are destitute. Is this a situation you want to leave for you or your loved ones?
Talk to a licensed professional to develop a LTC plan!
Tuesday, December 10, 2013
Friday, November 22, 2013
What is a SAFE Withdrawal Rate in Retirement?
This question comes up a lot. It is critically important for 2 primary reasons. First if you take out too much you will run out of assets before you run out of Life. Second if you don't know what you can spend each year how do you know what income you will have in retirement!
Many people and most Financial Advisors are familiar with "The 4% Rule." Everyone should be!
It states that you should be able to withdraw 4% of your assets each year in retirement and Usually have your assets last as long as you live. Note that I said usually! You do not want to be an outlier who falls into the category of retirees who fail to have their assets last! What can you do to prevent it? I encourage my clients to use a withdrawal rate of less than 4% when working with their self managed money. There are products that offer a guaranteed rate of withdrawal higher than 4% and we can discuss those later.
A recent article published in Financial Planning was titled " A Safer withdrawal rate using various returns distributions" The conclusions stated that a safer withdrawal rate for todays environment is only 2.52%. Their work indicated that the more common 4% number fails almost 18% of the time. That conclusion says that 1 in 5 will die destitute if they don't adjust there spending or use other strategies besides self managing their retirement assets. Protection from that risk requires the use of some SAFE Money Strategies for some significant portion of your assets.
Only 3 thing can guarantee you a lifetime of income. Social Security (if the government stops stealing from SS funds), an ADEQUATELY funded private pension, or a properly funded designed and guaranteed life insurance product. Notice Stocks bonds mutual funds are not on this list because of Market Risk. They cannot guarantee you a value tomorrow never mind a value 20-30 years from now. Never Forget 2001, 2008-2009! It can happen again! On average you get negative returns 2-3 year out of 10. Look at the graphs for Stock Market Historical performance. If you doubt there is risk answer these questions.
What is the true unemployment rate today? You need to adjust the official numbers for those who quit looking! A more meaningful number is the % of working age adults actually working!
Is the Federal and state government controlling their spending?
Is the Deficit increasing?
Is Obamacare inflationary?
Is the real cost of goods and services you need to live on increasing?
Many people and most Financial Advisors are familiar with "The 4% Rule." Everyone should be!
It states that you should be able to withdraw 4% of your assets each year in retirement and Usually have your assets last as long as you live. Note that I said usually! You do not want to be an outlier who falls into the category of retirees who fail to have their assets last! What can you do to prevent it? I encourage my clients to use a withdrawal rate of less than 4% when working with their self managed money. There are products that offer a guaranteed rate of withdrawal higher than 4% and we can discuss those later.
A recent article published in Financial Planning was titled " A Safer withdrawal rate using various returns distributions" The conclusions stated that a safer withdrawal rate for todays environment is only 2.52%. Their work indicated that the more common 4% number fails almost 18% of the time. That conclusion says that 1 in 5 will die destitute if they don't adjust there spending or use other strategies besides self managing their retirement assets. Protection from that risk requires the use of some SAFE Money Strategies for some significant portion of your assets.
Only 3 thing can guarantee you a lifetime of income. Social Security (if the government stops stealing from SS funds), an ADEQUATELY funded private pension, or a properly funded designed and guaranteed life insurance product. Notice Stocks bonds mutual funds are not on this list because of Market Risk. They cannot guarantee you a value tomorrow never mind a value 20-30 years from now. Never Forget 2001, 2008-2009! It can happen again! On average you get negative returns 2-3 year out of 10. Look at the graphs for Stock Market Historical performance. If you doubt there is risk answer these questions.
What is the true unemployment rate today? You need to adjust the official numbers for those who quit looking! A more meaningful number is the % of working age adults actually working!
Is the Federal and state government controlling their spending?
Is the Deficit increasing?
Is Obamacare inflationary?
Is the real cost of goods and services you need to live on increasing?
Friday, November 15, 2013
If you live in Ohio or Indiana and need Obamacare Health Insurance, check this out
I have completed OBAMACARE training and can offer the best products available from the Federally Facilitated Marketplace (FFM) or Exchange, or from the companies directly.
visit this website for help or information
http://hemahelp.com/broker/grainger/contact.html
visit this website for help or information
http://hemahelp.com/broker/grainger/contact.html
Savvy US individuals purchased over $17 Billion in 2013. What do they Know, that you don't?
Savvy individuals and investors purchased $17 B of one type of product this year. That represents almost 7% increase over last year. The investors did it to control risk, earn a decent rate of return and in many cases to guarantee lifetime income or at least guarantee income for a fixed period of time. How does that sound to you? How about Zero market risk! Is that important to you?
These products are offered by some of the strongest financial companies in the world. The companies I recommend did not lose money in 2001, 2008 or 2009. They did not require any government bailout! They actually made money in 2008-9. They are well positioned to weather the next market downturn which we all know will happen! We just can not say when.
These products work with both qualified and non qualified money. They work in ROTH and Traditional IRA accounts, SIMPLE Plans, SEP Plans or even within ROTH or Traditional 401K Plans that I run for my clients. They can be used in Trusts, can fund charitable contributions or work within estate plans.
These products are offered by some of the strongest financial companies in the world. The companies I recommend did not lose money in 2001, 2008 or 2009. They did not require any government bailout! They actually made money in 2008-9. They are well positioned to weather the next market downturn which we all know will happen! We just can not say when.
These products work with both qualified and non qualified money. They work in ROTH and Traditional IRA accounts, SIMPLE Plans, SEP Plans or even within ROTH or Traditional 401K Plans that I run for my clients. They can be used in Trusts, can fund charitable contributions or work within estate plans.
Monday, November 11, 2013
Did you know November is Long Term Care Month?
Yes, November is Long Term Care Month!
If you are in a room with only 4 adults how many of them will end up need Long Term Care (LTC)?
The answer is at least 2! I don't know who is going to need it but I know what percentage will need
it! That's over a 50% chance of needing LTC!
Do you own a house? Do you have homeowners insurance? Of course you do! Do you know that you only have about a 1 in 1200 chance of having a house fire? That's less than a 0.1% chance of a fire but you have protection against that risk.
Do you have auto insurance? About 98% of people have auto insurance. The risk of being in an accident is about 1 in 200 or 0.5%. But even with the low risk almost everyone insures the risk.
Why is that? It is because the risk of an event without the coverage is devastating to your financial health!
The risk of an uninsured LTC event is far more devastating than either of the two examples shown above. The average cost of a LTC event far exceeds the cost of replacing the average house! The average cost of a LTC event is 20 times the cost of a typical auto accident.
There are even products that protect those who are convinced it will not happen to them. If you never need it you get your money back!
If you are in a room with only 4 adults how many of them will end up need Long Term Care (LTC)?
The answer is at least 2! I don't know who is going to need it but I know what percentage will need
it! That's over a 50% chance of needing LTC!
Do you own a house? Do you have homeowners insurance? Of course you do! Do you know that you only have about a 1 in 1200 chance of having a house fire? That's less than a 0.1% chance of a fire but you have protection against that risk.
Do you have auto insurance? About 98% of people have auto insurance. The risk of being in an accident is about 1 in 200 or 0.5%. But even with the low risk almost everyone insures the risk.
Why is that? It is because the risk of an event without the coverage is devastating to your financial health!
The risk of an uninsured LTC event is far more devastating than either of the two examples shown above. The average cost of a LTC event far exceeds the cost of replacing the average house! The average cost of a LTC event is 20 times the cost of a typical auto accident.
There are even products that protect those who are convinced it will not happen to them. If you never need it you get your money back!
Saturday, November 9, 2013
Why would anyone ever put up with earning only1.9%?
I was just reviewing Bank Rate.com and it showed a National Average 5 year CD rate of only 1.9%.
Why in the world would anyone want to park funds at a bank with a rate of 1.9%? Just think about it the average inflation rate over the last 5-10 years has been over 2.5-2.9%. That means in December you have lost money every year for parking money with your bank! Ouch! Your bank doesn't loose money they lend it out for anywhere between 3.9 - 19+%. Why should you loose money so the bank can make as much as17% per year on your assets.
Did you know that solid alternatives exist?
How about the following examples. I am going to mention just a few.
The only problem is that these rates might not last for ever. Don't Delay!
1) 5 year fixed rate guaranteed 3.25- 3.5% per year.
2) 8 year monthly income stream paying 6%
3) Insured High yield but variable rate 7 year product. Contractual low rate of 1.25% with an annual upside potential of up to 7 - 7.25%. If you get the maximum only 2 years out of 7 you get almost 2.8%, if you get the max 3 years out of 7 you earn almost 3.7% and if you earner the higher rate 6 years out of 7 you would earn over 44%. Compare that to the Bankrate.com national CD rate of 1.9% with a 5 year return of under10%. Which should you choose?
Call or email to learn more or to determine if these strategies makes sense for some of your assets!
Why in the world would anyone want to park funds at a bank with a rate of 1.9%? Just think about it the average inflation rate over the last 5-10 years has been over 2.5-2.9%. That means in December you have lost money every year for parking money with your bank! Ouch! Your bank doesn't loose money they lend it out for anywhere between 3.9 - 19+%. Why should you loose money so the bank can make as much as17% per year on your assets.
Did you know that solid alternatives exist?
How about the following examples. I am going to mention just a few.
The only problem is that these rates might not last for ever. Don't Delay!
1) 5 year fixed rate guaranteed 3.25- 3.5% per year.
2) 8 year monthly income stream paying 6%
3) Insured High yield but variable rate 7 year product. Contractual low rate of 1.25% with an annual upside potential of up to 7 - 7.25%. If you get the maximum only 2 years out of 7 you get almost 2.8%, if you get the max 3 years out of 7 you earn almost 3.7% and if you earner the higher rate 6 years out of 7 you would earn over 44%. Compare that to the Bankrate.com national CD rate of 1.9% with a 5 year return of under10%. Which should you choose?
Call or email to learn more or to determine if these strategies makes sense for some of your assets!
Monday, November 4, 2013
Congratulation the Award for the Worst Website Launch in Internet History is Awarded To ...
I can think of several world class awards we could give out. I'm trying to decide between an Academy Award and the Time Magazine Internet Man Of The Year. Unfortunately they would both be awarded to the same team. Five days into the OBAMACARE launch the stats looked like this 9.7 M attempted sign-ons to the website, followed by a whopping 36,000 American who managed to buy Obamacare insurance. Since then the government has not even been releasing statistics! Why not? So much for open government and public disclosure. I believe it was CBS that did a story on the fact that 2,000,000 Americans lost health insurance coverage either because their employers cut their hours for employees or just plain stopped offering insurance altogether!
Any half decent manager knows that if the product does not begin to be ready to release you Delay the launch. So why the disconnect?
Look at the numbers.
Admitted government spending on Obamacare website $300 Million
Probable real spending before rollout estimates $600 Million
Estimate for the total cost to write, correct and repair $1 Billion
What did we get for that $1 Billion?
Any half decent manager knows that if the product does not begin to be ready to release you Delay the launch. So why the disconnect?
Look at the numbers.
Admitted government spending on Obamacare website $300 Million
Probable real spending before rollout estimates $600 Million
Estimate for the total cost to write, correct and repair $1 Billion
What did we get for that $1 Billion?
Insurance , Where Does It Fit In?
Did you know that approximately 30% of Americans do not have Life insurance!
Did you also know that 50% of Americans know that they need to buy more life insurance!
Everyone should think about the following questions. I would love to see some replies or comments on line here on the blog or offline! Help for most of you is available!
1) What is your personal situation?
2) Do you have life insurance?
3) Do you have Life Insurance that isn't tied to your Employment?
4) Why does that matter?
5) Do you have enough insurance?
6) If you do not have life insurance what is your excuse?
If you have a spouse or dependents almost everyone needs to have life insurance!
People with a non working spouse or families with young children need the most death benefit. Even people nearing retirement often need insurance and Often buy it even though it is much more expensive at older ages! As we age sometimes we need different types of coverage or even different amounts.
Why does it matter if your insurance is tied to work? See the comments in the Blog post from October 23, 2013 for a discussion of employee life insurance!
Do you have enough life insurance? See the blog post from October 23, 2013 for a discussion about how to determine if you have enough insurance. Use the worksheet or call to discuss.
If you are uninsured because you waited to long to buy protection there is still hope. Call to discuss your specific situation.
Remember Life insurance serves two primary functions it offers protection against the "What If ..." scenario, and it helps anticipate and cover the "When I..." scenario. Can you figure out the What if and When I scenario.
Did you also know that 50% of Americans know that they need to buy more life insurance!
Everyone should think about the following questions. I would love to see some replies or comments on line here on the blog or offline! Help for most of you is available!
1) What is your personal situation?
2) Do you have life insurance?
3) Do you have Life Insurance that isn't tied to your Employment?
4) Why does that matter?
5) Do you have enough insurance?
6) If you do not have life insurance what is your excuse?
If you have a spouse or dependents almost everyone needs to have life insurance!
People with a non working spouse or families with young children need the most death benefit. Even people nearing retirement often need insurance and Often buy it even though it is much more expensive at older ages! As we age sometimes we need different types of coverage or even different amounts.
Why does it matter if your insurance is tied to work? See the comments in the Blog post from October 23, 2013 for a discussion of employee life insurance!
Do you have enough life insurance? See the blog post from October 23, 2013 for a discussion about how to determine if you have enough insurance. Use the worksheet or call to discuss.
If you are uninsured because you waited to long to buy protection there is still hope. Call to discuss your specific situation.
Remember Life insurance serves two primary functions it offers protection against the "What If ..." scenario, and it helps anticipate and cover the "When I..." scenario. Can you figure out the What if and When I scenario.
Thursday, October 24, 2013
Where are our taxes going?
During the Obama presidency the federal deficit has basically doubled. We now have a federal deficit of over $17 Trillion that T not a B. You can not blame it on Iraq or Afganistan since those wars were well underway before he came into office and most of the expense is in the billions of dollars of equipment vehicles, building, arms, trucks, planes etc that were bought, built and transported to the battlefield most of which was already in country before Obama's election. You can not blame it all on the recession because if you believe Obama the recession is over and we are well into a recovery, or so he says. My reply to that claim is what recovery? So if its not the wars and its not the recession why have the federal deficits doubled since Obama took office? Its not the costs of OBAMACARE since the true inflationary costs of that program cannot yet have begun to be seen since the program doesn't really begin until next year! There really is only one answer and that is out of control spending beyond the tax income the government takes in!
So its our overspending without adequate tax revenue to offset the spending. Can we all basically agree on that? That brings us to the next question. If we are spending more than our revenue What impact will that have on future tax rates? Do you believe that the Congress and the president are going to balance the deficit in the next 10 years or so? I don't. So what do you think will happen to our tax rates over the next 10-25 years? The only logical answer is they are going to go up. If that is the case than it is even more important that we begin to plan for how to manage the taxes we will have to pay! Tax free or tax controlled income planning and tax free retirement products are therefore almost essential! We can help you with that!
So its our overspending without adequate tax revenue to offset the spending. Can we all basically agree on that? That brings us to the next question. If we are spending more than our revenue What impact will that have on future tax rates? Do you believe that the Congress and the president are going to balance the deficit in the next 10 years or so? I don't. So what do you think will happen to our tax rates over the next 10-25 years? The only logical answer is they are going to go up. If that is the case than it is even more important that we begin to plan for how to manage the taxes we will have to pay! Tax free or tax controlled income planning and tax free retirement products are therefore almost essential! We can help you with that!
Wednesday, October 23, 2013
How Much Insurance do I need? Other great questions.
A client just asked me a number of questions about insurance.
Question 1) How much insurance do I need?
This is a great question. There are a number of ways to address this question. Some people use a ballpark approach , some use a multiple of 10-20 times incomes but there is a nice one page worksheet that can help you answer this question. Its called The D.I.M.E worksheet If you want to answer this critical question this worksheet will help you out. I can help with that!
D.I.M.E.
D. represents Death Benefit and Final Expenses
I. represents Income Replacement
M. represents Mortgage Payoff Amount
E. represents Education Expenses
The Sum of D.I.M.E. equals a reasonable estimate of your insurance need
Question 2) Since I have insurance at work why do I need more?
Almost 90% of work based insurance is Term Coverage. Workplace Term coverage has limitations.
If you retire, are disabled, quit or are terminated Worksite term is usually not portable. You leave you lose!! Your need for insurance doesn't stop just because you leave! I can provide Worksite Portable Life Insurance that you can keep. Ask me about how that works! So when you leave your ability to buy a replacement policy depends on you health and your age at that future date and time. If you can tell me when that happens or what your health will be then you might be able to say you do not need other insurance. If you cannot answer those questions than worksite insurance is not enough!! The typical 1.5 - 3 times salary is simply not enough! To get more you have to buy it and you should buy it from a professional who understands your real needs. You can't get that from a website! You only get that from a professional who works with you face to face.
Question 3) What is the right type of insurance for me?
Another great question. There are many types of insurance that fill specific needs. Only by sitting down with a professional who works with you to analyze all of your specific, assets, needs, debts, financial commitments is it possible to truly insure that your selected policy or policies truly meet your needs. I will tell you this. Most people have a complicated set of needs and in most cases one policy my not completely cover all of those needs. that's why insurance companies have created 6 or 7 different types of policies. How many do you need?
If you have a question that you would like to see answered please send me a question or get in touch for a one on one discussion!
Question 1) How much insurance do I need?
This is a great question. There are a number of ways to address this question. Some people use a ballpark approach , some use a multiple of 10-20 times incomes but there is a nice one page worksheet that can help you answer this question. Its called The D.I.M.E worksheet If you want to answer this critical question this worksheet will help you out. I can help with that!
D.I.M.E.
D. represents Death Benefit and Final Expenses
I. represents Income Replacement
M. represents Mortgage Payoff Amount
E. represents Education Expenses
The Sum of D.I.M.E. equals a reasonable estimate of your insurance need
Question 2) Since I have insurance at work why do I need more?
Almost 90% of work based insurance is Term Coverage. Workplace Term coverage has limitations.
If you retire, are disabled, quit or are terminated Worksite term is usually not portable. You leave you lose!! Your need for insurance doesn't stop just because you leave! I can provide Worksite Portable Life Insurance that you can keep. Ask me about how that works! So when you leave your ability to buy a replacement policy depends on you health and your age at that future date and time. If you can tell me when that happens or what your health will be then you might be able to say you do not need other insurance. If you cannot answer those questions than worksite insurance is not enough!! The typical 1.5 - 3 times salary is simply not enough! To get more you have to buy it and you should buy it from a professional who understands your real needs. You can't get that from a website! You only get that from a professional who works with you face to face.
Question 3) What is the right type of insurance for me?
Another great question. There are many types of insurance that fill specific needs. Only by sitting down with a professional who works with you to analyze all of your specific, assets, needs, debts, financial commitments is it possible to truly insure that your selected policy or policies truly meet your needs. I will tell you this. Most people have a complicated set of needs and in most cases one policy my not completely cover all of those needs. that's why insurance companies have created 6 or 7 different types of policies. How many do you need?
If you have a question that you would like to see answered please send me a question or get in touch for a one on one discussion!
What About Required Minimum Distributions (RMD's)? Any Alternatives?
Many people have assets in their retirement plans that they do not need to use for their retirement. They want to leave those dollars for a family legacy or a favorite charity. Unfortunately most Qualified plans include a requirement that the owner begin taking Required Minimum distributions begin when the reach age 70.5. The penalties for not taking the RMD are very severe and are designed to be Punitive in Nature. There are only a couple of ways to avoid these withdrawals or the Punative taxes. First you avoid that if your funds are within a ROTH IRA or A ROTH 401K account. But there is a way to avoid taking the withdrawal and avoids the taxable nature of the distribution. With Your Tax professional I can help you accomplish this. It involves a charitable contribution using some of your assets but does not increase your income or your income tax.
Lets assume that your retirement plan is large enough so you need to take a $20,000 withdrawal this year. If you don't take the withdrawal you tax penalty is $10 K. If you do take the Withdrawal your tax bill would be increased by $5 K assuming a 25% tax rate. That would leave you with $15 K after tax. By taking the withdrawal you might also find that you have been pushed into a higher tax bracket!! You may also find yourself caught with the new increases in taxes due to OBAMACARE. This may make it go from bad to worse. So in taking a distribution you did not want or need you will end up with maybe less than $10-15K. Lets say you have a favorite charity. If you gave them money here is an alternative scenario. The charity gets $20 K which is guaranteed to turn into no less than $21 K by the end of year one. You get no tax increase, you get no tax penalty, you are entitled to a tax deduction for your donation and you don't increase your income reducing your tax liability and not increasing the income subject to Medicare tax, or OBAMACARE Taxes. This is just one of a number of possible financial scenarios that you, your tax preparer and I can establish. This sounds like a WIN-WIN scenario!
If this is interesting to you lets talk.
Lets assume that your retirement plan is large enough so you need to take a $20,000 withdrawal this year. If you don't take the withdrawal you tax penalty is $10 K. If you do take the Withdrawal your tax bill would be increased by $5 K assuming a 25% tax rate. That would leave you with $15 K after tax. By taking the withdrawal you might also find that you have been pushed into a higher tax bracket!! You may also find yourself caught with the new increases in taxes due to OBAMACARE. This may make it go from bad to worse. So in taking a distribution you did not want or need you will end up with maybe less than $10-15K. Lets say you have a favorite charity. If you gave them money here is an alternative scenario. The charity gets $20 K which is guaranteed to turn into no less than $21 K by the end of year one. You get no tax increase, you get no tax penalty, you are entitled to a tax deduction for your donation and you don't increase your income reducing your tax liability and not increasing the income subject to Medicare tax, or OBAMACARE Taxes. This is just one of a number of possible financial scenarios that you, your tax preparer and I can establish. This sounds like a WIN-WIN scenario!
If this is interesting to you lets talk.
Monday, October 21, 2013
What is going on with OBAMACARE?
Here are some interesting figures on OBAMACARE week 1
Visitors to Healthcare.gov website 9.47 Million
Number of visitors to the Individual Marketplace 5.68 Million
Number who attempted to Register 3.72 Million
Number Who registered to set up account 1.01 Million
Number of people who managed to Log in 271 K
Number Who began enrollment 196 K
Number who completed Enrollment 36 K
Lets see about 1% of those who attempted to register actually we able to enroll
Like every BIG GOVERNMENT program the screw up and cost overruns are the Largest parts of the program cost.
In some ways progress is being made there are now somewhat close to 500K enrolled.
My question is how many of them had insurance through their companies before OBAMACARE became the law of the land?
Another key question is how many of the 9.47 million visitors have had their hours cut from full time to part time because of OBAMACARE?
How many of the new jobs created in the past year are really the result of Full time jobs with benefits being turned into 2 part time jobs without benefits?
Unfortunately no one is talking about these numbers!
Visitors to Healthcare.gov website 9.47 Million
Number of visitors to the Individual Marketplace 5.68 Million
Number who attempted to Register 3.72 Million
Number Who registered to set up account 1.01 Million
Number of people who managed to Log in 271 K
Number Who began enrollment 196 K
Number who completed Enrollment 36 K
Lets see about 1% of those who attempted to register actually we able to enroll
Like every BIG GOVERNMENT program the screw up and cost overruns are the Largest parts of the program cost.
In some ways progress is being made there are now somewhat close to 500K enrolled.
My question is how many of them had insurance through their companies before OBAMACARE became the law of the land?
Another key question is how many of the 9.47 million visitors have had their hours cut from full time to part time because of OBAMACARE?
How many of the new jobs created in the past year are really the result of Full time jobs with benefits being turned into 2 part time jobs without benefits?
Unfortunately no one is talking about these numbers!
Wednesday, October 16, 2013
Are you prepared for retirement Poll
Today I'd like to stare a retirement poll. Everyone is welcome to participate either through a comment here on the blog
or with a telephone vote #614-264-3864
or an email financial-services@live.com
I will compile the comments and votes and share them in a blog post
When It Comes To Being Ready For Retirement I feel that I am...
A) Right on Track
B) I was right on track until 2008-2009
C) May fall short on my income needs
D) Have no idea where to start or who to turn to
Knowing where you are going to finish at the end of the race requires knowing where you are at the start of the race. Today is the Start of your Retirement Race. Some of you still have an ultra marathon left, some have a regular marathon left, some have a 5K race and some of you only have a 100 meter dash left. Wherever you are in the race today everyone can use some help or at least a review.
If you were to retire today how much lifetime income would you be able to guarantee?
or with a telephone vote #614-264-3864
or an email financial-services@live.com
I will compile the comments and votes and share them in a blog post
When It Comes To Being Ready For Retirement I feel that I am...
A) Right on Track
B) I was right on track until 2008-2009
C) May fall short on my income needs
D) Have no idea where to start or who to turn to
Knowing where you are going to finish at the end of the race requires knowing where you are at the start of the race. Today is the Start of your Retirement Race. Some of you still have an ultra marathon left, some have a regular marathon left, some have a 5K race and some of you only have a 100 meter dash left. Wherever you are in the race today everyone can use some help or at least a review.
If you were to retire today how much lifetime income would you be able to guarantee?
Monday, October 14, 2013
A very interesting study about the american majority.
A study reported on Meet The Press indicated that the Majority of American voters DO NOT favor or support the Radical Democrats or The Radical Republicans. Even if you add both parties RABID Followers and mix them together you do not have a Simple Majority!! The Majority are in the middle!!! Its time to clean house.
The elected officials of both parties seem to be unwilling to work for the electorate that put them in office and therefore they all need to be replaced. If the voters want to see financial responsibility in our government we have to vote out incompetence. Unless and until that is done the economy will continue to be weak and the financial markets will be subject to a bursting bubble! Our weak and fragile recovery and I use the term Recovery loosely is subject to cancellation on a moments notice.
Write to your democratic and republican elected officials and thell them to get to work or prepare to be FIRED!!!
The elected officials of both parties seem to be unwilling to work for the electorate that put them in office and therefore they all need to be replaced. If the voters want to see financial responsibility in our government we have to vote out incompetence. Unless and until that is done the economy will continue to be weak and the financial markets will be subject to a bursting bubble! Our weak and fragile recovery and I use the term Recovery loosely is subject to cancellation on a moments notice.
Write to your democratic and republican elected officials and thell them to get to work or prepare to be FIRED!!!
OBAMACARE Still a mess!
OBAMACARE. Still a dysfunctional disaster!
The government cant keep their websites up and operating. Enrollment partially due too the high downtime of the sites is still very low. The administrate failed to properly prepare for the launch!
they should have tested the site before a national rollout! Oh yes but doing that would require a thoroughly thoughtout plan. Something the government is not very good at.
OBAMACARE is not much beyond a premium discount plan. It does virtually nothing to address
the dozens of factors producing the high cost of healthcare in the US. There is no negotiation on the proce of healthcare services themselves. The Goverrnment including the White House Staff, the House and Senate and all the federal agencies should be included in OBAMACARE. If they were all included and bound by the good and the bad of OBAMACARE maybe just maybe the elected officials who passed the bill might have actually read the bill!!!!!
I am not saying OBAMACARE is all bad. It is not all bad. But the Design has been flawed since its very inception and to claim otherwise is nothing but Administration lies! If you want some unbiased input look at factcheck.org a nonpartisan organization. Both parties lie when they talk about OBAMACARE.
The government cant keep their websites up and operating. Enrollment partially due too the high downtime of the sites is still very low. The administrate failed to properly prepare for the launch!
they should have tested the site before a national rollout! Oh yes but doing that would require a thoroughly thoughtout plan. Something the government is not very good at.
OBAMACARE is not much beyond a premium discount plan. It does virtually nothing to address
the dozens of factors producing the high cost of healthcare in the US. There is no negotiation on the proce of healthcare services themselves. The Goverrnment including the White House Staff, the House and Senate and all the federal agencies should be included in OBAMACARE. If they were all included and bound by the good and the bad of OBAMACARE maybe just maybe the elected officials who passed the bill might have actually read the bill!!!!!
I am not saying OBAMACARE is all bad. It is not all bad. But the Design has been flawed since its very inception and to claim otherwise is nothing but Administration lies! If you want some unbiased input look at factcheck.org a nonpartisan organization. Both parties lie when they talk about OBAMACARE.
Monday, October 7, 2013
Current financial SAFE MONEY opportunities
Here are some current opportunities and ideal candidates
1) pay $119,332 now collect $242,138 in 15 years for a 5% effective yield
perfect for someone trying to fund a child or a grandchild's education
2) pay $113,200 now and collect $250,000 split into 4 payments over 23 yr period for effective 5% yield funding a trust or for some part of a retirement, perfect for a ROTH
3) pay $76,542 now and collect $151,330 with many payments over 27 years for a 5.4% yield
retirement or trust funding
4) pay $3,532 now and collect $62,000 in 43 years for a 7% return
tax free if you use ROTH Funding for grandchild or trust
5) pay $112,800 now and collect $266,750 in payments between 2025-2033
ROTH or 401K plan for someone retiring in about 13-15 years
6) pay $46,000 -70,000 now and collect 8 years of equal monthly payments for a 6% yield
current retiree, or current worker looking for a reasonable but guaranteed rate of return.
7) FDIC Insured variable rate CD. Guaranteed rate of 1% with upside potential of up to 7% annual return on a 7 year CD. Minium purchase price $30,000
These are just some of the interesting opportunities that are available. Pleas contact for more information or to determine if they are suitable for your situation. These are all Safe Money
financial products with no Market Risk of loss of principal. All of these are subject to availability limited time opportunities
1) pay $119,332 now collect $242,138 in 15 years for a 5% effective yield
perfect for someone trying to fund a child or a grandchild's education
2) pay $113,200 now and collect $250,000 split into 4 payments over 23 yr period for effective 5% yield funding a trust or for some part of a retirement, perfect for a ROTH
3) pay $76,542 now and collect $151,330 with many payments over 27 years for a 5.4% yield
retirement or trust funding
4) pay $3,532 now and collect $62,000 in 43 years for a 7% return
tax free if you use ROTH Funding for grandchild or trust
5) pay $112,800 now and collect $266,750 in payments between 2025-2033
ROTH or 401K plan for someone retiring in about 13-15 years
6) pay $46,000 -70,000 now and collect 8 years of equal monthly payments for a 6% yield
current retiree, or current worker looking for a reasonable but guaranteed rate of return.
7) FDIC Insured variable rate CD. Guaranteed rate of 1% with upside potential of up to 7% annual return on a 7 year CD. Minium purchase price $30,000
These are just some of the interesting opportunities that are available. Pleas contact for more information or to determine if they are suitable for your situation. These are all Safe Money
financial products with no Market Risk of loss of principal. All of these are subject to availability limited time opportunities
Tuesday, October 1, 2013
Just Completed OBAMACARE Navigator training
I just wanted to announce the completion of the 5 modules of federally mandated training for OBAMCARE, The Affordable Care ACT, (ACA).
We only had a couple of problems with the training program. The Federal government lost the records for the completion of module one and the successful passing of the test required for module 2. It took about 3 weeks to get the database records corrected to reflect my having passed the tests. I had to seend them copies of the certificates of completion three different times before we got it fixed.
Then for the past 5 days the training website was down and out of service. If this is any indication of what to expect going forward all I can say is WATCH OUT!!!!!! Oh and also the internet security certificates are screwed up on the Training website. This mess really inspires confidence!
We only had a couple of problems with the training program. The Federal government lost the records for the completion of module one and the successful passing of the test required for module 2. It took about 3 weeks to get the database records corrected to reflect my having passed the tests. I had to seend them copies of the certificates of completion three different times before we got it fixed.
Then for the past 5 days the training website was down and out of service. If this is any indication of what to expect going forward all I can say is WATCH OUT!!!!!! Oh and also the internet security certificates are screwed up on the Training website. This mess really inspires confidence!
Friday, September 27, 2013
How does the Afordable Care Act aka OBAMACARE affect me?
Over the next few months I will be presenting a number of OBAMACARE, Affordable Care Act (ACA) workshops for individuals, families and business owners trying to make sense of how OBAMACARE will affect you. If you are in the Westerville or Northern Columbus area of Delaware or Franklin County please feel free to sign up by following the link provided below or Calling Adult Services at the Westerville Public Library. The program will include general information about OBAMACARE, how to get pricing, sign up for Health insurance or make a future appointment for a private meeting with a Federally certified Navigator who can help you enroll. If you are a business owner trying to determine how OBAMACARE affects your business help will be available for you as well. OBAMACARE Affects us all regardless of age of individuals or the size of a business.
We will also tell you what documents you will need to have available in order to sign up.
To call the library please contact them at Adult Services, Westerville Public Library 614-882-7277
or online
http://host4.evanced.info/westerville/evanced/eventcalendar.asp?ag=&et=&kw=obamacare&dt=dr&ds=2013-9-27&de=2014-12-31&df=list&cn=0&private=0&ln=0
If you represent a civic or community group or a company manager and you would like to discuss another time and place for a meeting please contact us here
We will also tell you what documents you will need to have available in order to sign up.
To call the library please contact them at Adult Services, Westerville Public Library 614-882-7277
or online
http://host4.evanced.info/westerville/evanced/eventcalendar.asp?ag=&et=&kw=obamacare&dt=dr&ds=2013-9-27&de=2014-12-31&df=list&cn=0&private=0&ln=0
If you represent a civic or community group or a company manager and you would like to discuss another time and place for a meeting please contact us here
Thursday, September 26, 2013
Safe Money Financial opportunities
If you could take a portion of your assets and guarantee better than 4.5-5.4% on you money for as much as 17 to 27 yrs would you be interested. What if you could get a guaranteed monthly income over that period. Admittedly not everyone is eligible or has enough liquidity to do this. If you are a younger successful professional or business owner this might be right for you. Another candidate would be an older individual who is interested in providing for children or grandchildren's benefit.. Someone who is tired of the ups and downs in the market could benefit.
All of these opportunities offer protection from market risk and offer a guaranteed future rate of return and a schedule of income. It certainly would not be appropriate to allocate most of ones assets like this. However using this for a a portion of ones Safe Money Strategy could be a good fit.
Here are some examples. Availability changes over time
allocate $154,000 and collect 300 payments of $1,008+ for a guaranteed 5.4% guaranteed yield and a total of almost $303K in total return. Retirement income or estate planning
allocate $122 K today get over $242K to pay for childs college or for retirement in 14 yrs Without market risk and if ROTH funds used $120K in tax free gains.
allocate $46,700 now get 6 payments of $11,173 over the next 16 years for a total of $67,039
Allocate 30 K or maybe more and collect a guaranteed 6% rate of return ewith 8 years of equal monthly payments.
Call if interested, or to find out if it might be right for your situation.
All of these opportunities offer protection from market risk and offer a guaranteed future rate of return and a schedule of income. It certainly would not be appropriate to allocate most of ones assets like this. However using this for a a portion of ones Safe Money Strategy could be a good fit.
Here are some examples. Availability changes over time
allocate $154,000 and collect 300 payments of $1,008+ for a guaranteed 5.4% guaranteed yield and a total of almost $303K in total return. Retirement income or estate planning
allocate $122 K today get over $242K to pay for childs college or for retirement in 14 yrs Without market risk and if ROTH funds used $120K in tax free gains.
allocate $46,700 now get 6 payments of $11,173 over the next 16 years for a total of $67,039
Allocate 30 K or maybe more and collect a guaranteed 6% rate of return ewith 8 years of equal monthly payments.
Call if interested, or to find out if it might be right for your situation.
Wednesday, September 25, 2013
Simple Economic theory is proven to be correct again.
Once again the economists demonstrate that they know what works and why it works. Any Economics Textbook will tell you this! Many economists have been talking about a bond bubble. AS the interest rates rise in the USA the price of municipal bonds has to take a dive. I was reading an article today which indicated that Municipal bond prices for existing bonds and bond funds have dropped 7-8% since May 2013 (At least in several key funds and indexes). So much for the promise of bond safety!! Any Economics Text book can show you this!!!
What other factors come into play here. Detroit Bankruptcy, Chicago Downgrade, Federal Deficits, Federal out of control spending, Bureaucratic incompetence in DC, Fear of Fed Tapering, The ongoing rise in interest rates.
There are products that can truly protect you from market risks!
What other factors come into play here. Detroit Bankruptcy, Chicago Downgrade, Federal Deficits, Federal out of control spending, Bureaucratic incompetence in DC, Fear of Fed Tapering, The ongoing rise in interest rates.
There are products that can truly protect you from market risks!
Tuesday, September 24, 2013
Another Suze Orman blunder?
On Sat. Sept 21 Suze Orman once again complained about Whole Life Insurance. She tends to mistakenly refer to all cash value life insurance as whole life. In Fact there are several types of cash value insurance. They meet different client needs and perform quite differently. We will discuss them later.
She was complaining about the fact that a caller had an insurance policy that had two different projections of the cash value performance. One was the current performance and the second was the lower but Guaranteed minimum performance. The Guaranteed performance table showed the absolute minimum performance for the cash value within a life insurance policy. Depending on the policy and the company the guarantee may range from about 1-5%. these numbers vary from low to reasonably competitive. Compare that to the guaranteed performance of a market linked product including but not limited to Stocks, bonds, mutual funds, etc. Do they guarantee your principal? NO. Do they guarantee the dividends in future periods? NO. Do they guarantee the interest rate earned under all circumstance? NO. Even Bonds with a guaranteed rate are dependent on the bond issuer not going into default! So this guarantee is based on a conditional assumption. I am not suggesting that you should not own these products. Far from it. I own some myself. What I am saying is that you need to understand that these are all risk assets! Risk assets by their design go up and can go down in value. What I am saying is that you need some assets that are NOT RISK Assets. Insurance and Annuity products are often logical choices for Safe Money.
The Current rate table in an insurance policy shows the rate currently being earned on the policy cash value. The company also does some historical look back and determines a reasonable rate based on that review. It may be a 3, 5, 7 or even 10 year look back. That is the rate of return that shows up in the Current table. Some policies even include a third table called a midpoint table somewhere in between the two. The Guaranteed table is just that, the current table is a projected but reasonable number looking forward. You might do better you might not do quite as well. Three more things that your market money cant or does not do. If you die before you expect to die the Death Benefit is a multiple of the cash paid in premium. Second if the policy is properly selected, designed and funded the cash is available to you while you are still alive, or your beneficiaries Income Tax Free. Third, if you wish to borrow cash value you can even make money on the money you have loaned to yourself! Last year clients earned as much as 8% on their loan value and as much as 12% on their cash value. Try to find that with a mutual fund!
Google bond default, read the newspaper about municipality and even state default. Read the paper about our federal government and the possibility of a federal default if the incompetent elected officials can't pass a spending bill!!!! Suze often talks about making 8% in the market. I ask where are the quarantees to back that up? How many investors can honestly say that they have made an 8% compounded rate of return over the past 9 years or the past 15 years. If you had then $100,000 would now be worth over $200,000 (9 yr) or $300,000 (15 yr) and we would all be rich! Unfortunately that is not Quaranteed. Even though the markets are at all time highs many investors are not even even with what they had! I mention this only so you can look realistically at her comments. Nationally the average investor has been lucky to make 3-3.5%. Even with that, the gains and even a substantial percentage of principal are at risk during the next market downturn.
She was complaining about the fact that a caller had an insurance policy that had two different projections of the cash value performance. One was the current performance and the second was the lower but Guaranteed minimum performance. The Guaranteed performance table showed the absolute minimum performance for the cash value within a life insurance policy. Depending on the policy and the company the guarantee may range from about 1-5%. these numbers vary from low to reasonably competitive. Compare that to the guaranteed performance of a market linked product including but not limited to Stocks, bonds, mutual funds, etc. Do they guarantee your principal? NO. Do they guarantee the dividends in future periods? NO. Do they guarantee the interest rate earned under all circumstance? NO. Even Bonds with a guaranteed rate are dependent on the bond issuer not going into default! So this guarantee is based on a conditional assumption. I am not suggesting that you should not own these products. Far from it. I own some myself. What I am saying is that you need to understand that these are all risk assets! Risk assets by their design go up and can go down in value. What I am saying is that you need some assets that are NOT RISK Assets. Insurance and Annuity products are often logical choices for Safe Money.
The Current rate table in an insurance policy shows the rate currently being earned on the policy cash value. The company also does some historical look back and determines a reasonable rate based on that review. It may be a 3, 5, 7 or even 10 year look back. That is the rate of return that shows up in the Current table. Some policies even include a third table called a midpoint table somewhere in between the two. The Guaranteed table is just that, the current table is a projected but reasonable number looking forward. You might do better you might not do quite as well. Three more things that your market money cant or does not do. If you die before you expect to die the Death Benefit is a multiple of the cash paid in premium. Second if the policy is properly selected, designed and funded the cash is available to you while you are still alive, or your beneficiaries Income Tax Free. Third, if you wish to borrow cash value you can even make money on the money you have loaned to yourself! Last year clients earned as much as 8% on their loan value and as much as 12% on their cash value. Try to find that with a mutual fund!
Google bond default, read the newspaper about municipality and even state default. Read the paper about our federal government and the possibility of a federal default if the incompetent elected officials can't pass a spending bill!!!! Suze often talks about making 8% in the market. I ask where are the quarantees to back that up? How many investors can honestly say that they have made an 8% compounded rate of return over the past 9 years or the past 15 years. If you had then $100,000 would now be worth over $200,000 (9 yr) or $300,000 (15 yr) and we would all be rich! Unfortunately that is not Quaranteed. Even though the markets are at all time highs many investors are not even even with what they had! I mention this only so you can look realistically at her comments. Nationally the average investor has been lucky to make 3-3.5%. Even with that, the gains and even a substantial percentage of principal are at risk during the next market downturn.
Wednesday, September 18, 2013
2013 College Funding Whitepaper
Almost everyone with young children and teenagers needs to be thinking about how they are going to help their children fund their college expenses! This is not something that you can start effectively planning with a 17-18 year old! Effective planning strategies are most effective if you start implementing them when your children are 7-12 years old! The fund allocation strategies also require that funds be allocated before you start working on your Free Application For Student Aid (FAFSA) Time is your best friend!
Albert Einstein said "one of the greatest wonders in the universe is the compounding of interest!" This is from the same guy who discovered E=MC2!
If you want a copy of my whitepaper titled "2013 Guide to College Funding"
If you want a copy by email it is available at no charge. If you live in the US and want a copy by regular mail it is also available. However for mailed copies there is a charge of $6.00 including shipping and handling. We prefer to send it by email!
It discusses Scholarships, Grants, 529 Plans, ROTH IRA, 401K Plans, Cash funding and TAX FREE funding strategies. It also includes strategies that can help you increase your eligibility for Financial Aid. This involves ways to reduce your out of pocket expense in the college funding process. Some of these you can implement on your own but some do require the use of a financial professional like us! Even families with close to a 6 figure income or 6 figure assets can benefit from some of the legal strategies we talk about.
These techniques are very useful for parents and are also helpful for grandparent that wants to help fund a grandchild's college education. In many states we can help you effectively implement the strategies we discuss.
Generic questions or comments can be directed to us here on the blog or contact us through the following methods.
To call 614-264-3864
to email financial-services@live.com
to visit website go to http://financial-service6.wix.com/polarisfinancial
Albert Einstein said "one of the greatest wonders in the universe is the compounding of interest!" This is from the same guy who discovered E=MC2!
If you want a copy of my whitepaper titled "2013 Guide to College Funding"
If you want a copy by email it is available at no charge. If you live in the US and want a copy by regular mail it is also available. However for mailed copies there is a charge of $6.00 including shipping and handling. We prefer to send it by email!
It discusses Scholarships, Grants, 529 Plans, ROTH IRA, 401K Plans, Cash funding and TAX FREE funding strategies. It also includes strategies that can help you increase your eligibility for Financial Aid. This involves ways to reduce your out of pocket expense in the college funding process. Some of these you can implement on your own but some do require the use of a financial professional like us! Even families with close to a 6 figure income or 6 figure assets can benefit from some of the legal strategies we talk about.
These techniques are very useful for parents and are also helpful for grandparent that wants to help fund a grandchild's college education. In many states we can help you effectively implement the strategies we discuss.
Generic questions or comments can be directed to us here on the blog or contact us through the following methods.
To call 614-264-3864
to email financial-services@live.com
to visit website go to http://financial-service6.wix.com/polarisfinancial
Tuesday, September 17, 2013
Life Insurance Awareness Month (LIAM) Contest
We have tried to challenge and inform the readers about LIAM and the role Life Insurance plays in America today.
Here is another Challenge
Can you name two massive companies and the company founders that either started their business or saved their business using the cash value found in their Life Insurance policies.
Disney
Walt Disney helped fund Disneyland in California using cash from his personal life insurance policy
J. C. Penney
James Cash Penney saved his business in the great depression by meeting payroll with the cash value in his life insurance policy. Yes James Cash Penney was his real name
In fact it was the life insurance industry that help put the banks back on their feet during the Great Depression
Another example is the founder of The Pamper Chef helped found the company using her cash value Life Insurance
There is no doubt that many other companies owe their survival to the Cash value within a life insurance policy.
When properly structured and funded the income taken from a cash value Life insurance policy comes out 100% Income Tax free
Here is another Challenge
Can you name two massive companies and the company founders that either started their business or saved their business using the cash value found in their Life Insurance policies.
Disney
Walt Disney helped fund Disneyland in California using cash from his personal life insurance policy
J. C. Penney
James Cash Penney saved his business in the great depression by meeting payroll with the cash value in his life insurance policy. Yes James Cash Penney was his real name
In fact it was the life insurance industry that help put the banks back on their feet during the Great Depression
Another example is the founder of The Pamper Chef helped found the company using her cash value Life Insurance
There is no doubt that many other companies owe their survival to the Cash value within a life insurance policy.
When properly structured and funded the income taken from a cash value Life insurance policy comes out 100% Income Tax free
Monday, September 16, 2013
Did you know it is possible to get a Decent rate of return on your money
The Bank around the corner won't pay you an interest rate above maybe 2 percent. Unfortunately that does not even keep up with the inflation rate (CPI) which recently has been running around 2.5-3.5%
If you could guarantee a 1% annual interest rate with the potential to earn several times as much would that be of Interest to you? In todays market is it possible to beat inflation?
Bankrate,com today showed 5 yr CD rates from 0.6% up to 2.05%
If your not happy with those rates and no upside potential let us know!
We are talking FDIC insured deposits, moderately high minimums and typically a 7 year term.
If you are not in need of FDIC Insurance and are interested in 6% with a non bank rate let us know!
Financial alternatives are out there with low risk. One should always maintain diversification in their financial portfolio. Not all products are suitable for all clients! Not all products are liquid as fees may apply for early withdrawal or surrender.
If you could guarantee a 1% annual interest rate with the potential to earn several times as much would that be of Interest to you? In todays market is it possible to beat inflation?
Bankrate,com today showed 5 yr CD rates from 0.6% up to 2.05%
If your not happy with those rates and no upside potential let us know!
We are talking FDIC insured deposits, moderately high minimums and typically a 7 year term.
If you are not in need of FDIC Insurance and are interested in 6% with a non bank rate let us know!
Financial alternatives are out there with low risk. One should always maintain diversification in their financial portfolio. Not all products are suitable for all clients! Not all products are liquid as fees may apply for early withdrawal or surrender.
More Info On Life Insurance Awareness Month (LIAM)
Did you know that almost one quarter of American savings are in the form of Insurance Company products?
They are split between Cash Value Life Insurance and Annuity products.
What is it that they know that you don't?
Want to come up to speed on what the new products can do for you?
The amount of Death benefits life insurance claims payments in 2011 exceeded $60 Billion. This amount would be even higher if you add the payments made to Living policy owners !
The cash payments from annuity contracts equaled over $75 Billion in 2011. Much of those assets and payments are paid out from contracts that protect the policyholder from Market Risk! That's why much of the savings are managed by insurers in the first place. How much better could you sleep at night if you know at least a significant portion of your assets and income were protected from Market Risk. That is why these products are called Safe Money Products
How much of your assets and income are protected from Market risk?
Should we talk about implementing a Safe Money Strategy for some of your assets??
They are split between Cash Value Life Insurance and Annuity products.
What is it that they know that you don't?
Want to come up to speed on what the new products can do for you?
The amount of Death benefits life insurance claims payments in 2011 exceeded $60 Billion. This amount would be even higher if you add the payments made to Living policy owners !
The cash payments from annuity contracts equaled over $75 Billion in 2011. Much of those assets and payments are paid out from contracts that protect the policyholder from Market Risk! That's why much of the savings are managed by insurers in the first place. How much better could you sleep at night if you know at least a significant portion of your assets and income were protected from Market Risk. That is why these products are called Safe Money Products
How much of your assets and income are protected from Market risk?
Should we talk about implementing a Safe Money Strategy for some of your assets??
Saturday, September 14, 2013
How to Maximize your Social Security Check.
Did you know that the SS administration prohibits their employees from helping a retiring worker maximize their SS monthly income. I would think that that would be part of their job.
Maximizing income is a complicated process . It considers expected life expectancy , Marital status, Spouses SS income status, spouse age, your age now, age at expected retirement, expected income following retirement excluding SS income, your health
You can either maximize income for now or you can solve for maximum lifetime income. The difference in strategy can result in lifetime income differences of tens or even hundreds of thousands of dollars. A number of legal strategies exist.
visit this website to learn more, register or request additional information or register for a personal SS analysis.
http://thefinancialhq.com/polarisfinancial
Maximizing income is a complicated process . It considers expected life expectancy , Marital status, Spouses SS income status, spouse age, your age now, age at expected retirement, expected income following retirement excluding SS income, your health
You can either maximize income for now or you can solve for maximum lifetime income. The difference in strategy can result in lifetime income differences of tens or even hundreds of thousands of dollars. A number of legal strategies exist.
visit this website to learn more, register or request additional information or register for a personal SS analysis.
http://thefinancialhq.com/polarisfinancial
Thursday, September 12, 2013
New Polaris Financial Services Website and QR Code link
For those of you with a QR reading capability I want to provide you my QR Code link to the new website.
Please check out the site.
Id love your input or questions or product inquiry
For those of you without QR Code capability here is the link
http://financial-service6.wix.com/polarisfinancial
Please check out the site.
Id love your input or questions or product inquiry
For those of you without QR Code capability here is the link
http://financial-service6.wix.com/polarisfinancial
More news from Life Insurance Awareness Month (LIAM)
More neat Facts for LIAM
Over 75,000,000 families in the US rely on Life insurance for family protection
Are you inside that Circle of Protection or outside? If not inside Why not???
US Life Insurance Companies pay out $1.5 Billion every day in benefits!!
That's a close second to Social Security which pays out $1.9 Billion per day.
At least with Life insurance we know there are the assets to back up the full value of their future obligations.
Life Insurers have to have over $100 in assets for each $100 in obligations
The banks FDIC Reserve have less than $5-10 in reserves for every $100 in insured Deposits!
The Federal Government has well over $17 Trillion in Deficit to guarantee or let me say back up their obligations.
In the past 13 years almost 500 banks have gone bankrupt in the USA
In that same time only a handful of Insurance companies have needed to be taken over.
Over 75,000,000 families in the US rely on Life insurance for family protection
Are you inside that Circle of Protection or outside? If not inside Why not???
US Life Insurance Companies pay out $1.5 Billion every day in benefits!!
That's a close second to Social Security which pays out $1.9 Billion per day.
At least with Life insurance we know there are the assets to back up the full value of their future obligations.
Life Insurers have to have over $100 in assets for each $100 in obligations
The banks FDIC Reserve have less than $5-10 in reserves for every $100 in insured Deposits!
The Federal Government has well over $17 Trillion in Deficit to guarantee or let me say back up their obligations.
In the past 13 years almost 500 banks have gone bankrupt in the USA
In that same time only a handful of Insurance companies have needed to be taken over.
Monday, September 9, 2013
Life Insurance Awareness Month Contest
Last week I said I would answer the questions
Who invented Life insurance?
When was it invented?
We do not have a winner but I promised you the answer so here goes.
Life insurance was invented about 1500 years ago!
It was invented by the Romans!
The purpose then was the same that it serves today!
It helps a family pay for the burial of a loved one and it also provides some financial help for the family of the deceased!
The past is our best teacher!
Do you have enough Life insurance?
Is the policy going to last as long as you do?
I started working with a client in late July. He wanted $250,000 in coverage. At the time he was insurable although he was rated sub standard. The client dragged his feet until late August where he ended up in the hospital for about one week. Today and for at least the next year he is basically uninsurable and could not get even $50,000. If he wants to buy now he will pay several times more for $50K than he would have had to pay to get $250K if he had signed the contract in July.
Is there a moral here? Of course there is! Are you adequately insured?
Who invented Life insurance?
When was it invented?
We do not have a winner but I promised you the answer so here goes.
Life insurance was invented about 1500 years ago!
It was invented by the Romans!
The purpose then was the same that it serves today!
It helps a family pay for the burial of a loved one and it also provides some financial help for the family of the deceased!
The past is our best teacher!
Do you have enough Life insurance?
Is the policy going to last as long as you do?
I started working with a client in late July. He wanted $250,000 in coverage. At the time he was insurable although he was rated sub standard. The client dragged his feet until late August where he ended up in the hospital for about one week. Today and for at least the next year he is basically uninsurable and could not get even $50,000. If he wants to buy now he will pay several times more for $50K than he would have had to pay to get $250K if he had signed the contract in July.
Is there a moral here? Of course there is! Are you adequately insured?
Wednesday, September 4, 2013
LIFE INSURANCE AWARENESS MONTH / Contest
September Is Life Insurance Awareness Month (LIAM)
Just for fun I have a contest.
Insurance agents are excluded from this competition.
Who Invented Life Insurance?
Approximately when was it created?
Answer will follow in a couple of days. Maybe we will come up with another contest later in the month!
Just for fun I have a contest.
Insurance agents are excluded from this competition.
Who Invented Life Insurance?
Approximately when was it created?
Answer will follow in a couple of days. Maybe we will come up with another contest later in the month!
Tuesday, September 3, 2013
Monday, August 26, 2013
Here is an award I just won for Financial work I do for my clients.
I just won an award for the work I do for my individual and small business clients. This is actually the third year in a row that I have won this award. It is "The Best OF Westerville 2013 Award For The Financial Planning Category"
If you designed the perfect financial product would it look like this?
Many clients tell me they are looking for several contradictory objectives in an IDEAL financial product!
First, they want to know their principal is safe!
Second, they want a reasonable rate of return on their money!
Third, they want liquidity!
If a product could do all of these thing would you agree that this is a nearly perfect financial product?
A bank can give you the first and third items from the list but will not deliver the second. The market can give you the second and the third but cannot guarantee the first.
Its now possible to get a financial product that offers 100% liquidity from day one. Even though it offers great liquidity it is designed and optimized for long term growth or even for legacy purposes.
In addition it offers a reasonable rate of return in some configurations or the upside potential for double digit annual returns of over 12% in the best years and a mid single digit (4-7%) returns in an average year. It delivers all of this potential with outstanding safety and protection of principal.
That's the good news.
Now for the bad news. Not everyone can qualify to purchase this type of product. Minimum $ limits also apply. Contact us if interested in learning if this is right for you!
First, they want to know their principal is safe!
Second, they want a reasonable rate of return on their money!
Third, they want liquidity!
If a product could do all of these thing would you agree that this is a nearly perfect financial product?
A bank can give you the first and third items from the list but will not deliver the second. The market can give you the second and the third but cannot guarantee the first.
Its now possible to get a financial product that offers 100% liquidity from day one. Even though it offers great liquidity it is designed and optimized for long term growth or even for legacy purposes.
In addition it offers a reasonable rate of return in some configurations or the upside potential for double digit annual returns of over 12% in the best years and a mid single digit (4-7%) returns in an average year. It delivers all of this potential with outstanding safety and protection of principal.
That's the good news.
Now for the bad news. Not everyone can qualify to purchase this type of product. Minimum $ limits also apply. Contact us if interested in learning if this is right for you!
Friday, June 21, 2013
New financial products available
Everyone knows that interest rates have been extremely low for over 3-4 years. It's part of the the Federal Reserve Banks plan to "help the economy". Even with the slight increase in interest rate in the past week or so it is still almost impossible to earn a decent yet safe rate of return on our
money.
Did you know that it is possible to obtain a 6% guaranteed interest rate on a 96 month financial product. There are minimum purchase amounts of $40,000 - 60,000 with a maximumum of approximately $250,000. These are not liquid but you do receive monthly payments including but some return of principal and interest. Payments are level throughout the 8 year term. The interest rate is guaranteed at time of issue and payment of the contract. There is also a high degree of safety with this type of contract. This is what I would consider a Safe Money product with no stock market risk. They are compatible with a ROTH or Traditional IRA or can be used with non qualified money as well.
I think it is good to know that a reasonable Bank alternative is available today. Why would anyone want to put that amount of money in a bank anyway?
money.
Did you know that it is possible to obtain a 6% guaranteed interest rate on a 96 month financial product. There are minimum purchase amounts of $40,000 - 60,000 with a maximumum of approximately $250,000. These are not liquid but you do receive monthly payments including but some return of principal and interest. Payments are level throughout the 8 year term. The interest rate is guaranteed at time of issue and payment of the contract. There is also a high degree of safety with this type of contract. This is what I would consider a Safe Money product with no stock market risk. They are compatible with a ROTH or Traditional IRA or can be used with non qualified money as well.
I think it is good to know that a reasonable Bank alternative is available today. Why would anyone want to put that amount of money in a bank anyway?
Wednesday, April 3, 2013
"The Rule of 100" and Preserving and Growing Your Assets
Some of you know about "The Rule of 100" but everyone should know it and understand how it works. Simply put this rule help you determine a smart allocation strategy that helps protect your assets from excessive market risk. Protection from market risk is critical as we age in order to preserve our assets for the second stage of our lives. The first stage of Financial Life is Asset Growth and Accumulation . This is followed by the Asset Distribution Stage or Retirement Stage of Financial Life. As we get older and unfortunately we all do, we need to transition from maximizing accumulation to the preservation and distribution of our assets. Different types of professional specialize in helping plan and implement these different strategies. Some people even think of this as a three stage process. They group them into, Accumulation, Transition and Distribution or Retirement.
The Risk we can safely tolerate needs to drop if we hope to properly preserve our assets for the retirement years. A five year recession is not an absolute disaster when we are 35 and have 30 or more years to make up for the downturns that WILL Happen. Notice I said WILL and not May happen. On average we have 2-3 bad years every decade. We have 3-5 average years and 2-3 really good years. This trend is clearly shown in economic theory and actual history going back 100 years.
Not considering this in your financial plan is one of the major reasons people run out of assets in retirement. The second major reason people run out of money is simply not saving enough in the earning years. The best solution is to learn and benefit from THE RULE OF 100. The rule states that you subtract your current age from 100 and the answer represents the maximum percentage of your assets that should be exposed to market risk. As an example a 55 year old should have no more than 45% of their assets exposed to market risk. Some people have less market risk tolerance and should have less exposure. As we age the formula means that we need to further adjust our risk % allocation over time. Using SAFE Money strategies gives us the opportunity to include Safe Money Products and still have up side potential growth that can beat inflation and allow us to keep up with the rising Consumer Price Index (CPI). Unfortunately a Bank doesn't allow one to keep up with the rate of inflation. It has been 20 years or more since banks have paid a decent rate of return to their depositors. This means that you have less buying power at the end of December than you had on January 1st. There are other forms of Safe Money Assets that can protect and grow your assets and still produce a reasonable Rate of Return.
The Risk we can safely tolerate needs to drop if we hope to properly preserve our assets for the retirement years. A five year recession is not an absolute disaster when we are 35 and have 30 or more years to make up for the downturns that WILL Happen. Notice I said WILL and not May happen. On average we have 2-3 bad years every decade. We have 3-5 average years and 2-3 really good years. This trend is clearly shown in economic theory and actual history going back 100 years.
Not considering this in your financial plan is one of the major reasons people run out of assets in retirement. The second major reason people run out of money is simply not saving enough in the earning years. The best solution is to learn and benefit from THE RULE OF 100. The rule states that you subtract your current age from 100 and the answer represents the maximum percentage of your assets that should be exposed to market risk. As an example a 55 year old should have no more than 45% of their assets exposed to market risk. Some people have less market risk tolerance and should have less exposure. As we age the formula means that we need to further adjust our risk % allocation over time. Using SAFE Money strategies gives us the opportunity to include Safe Money Products and still have up side potential growth that can beat inflation and allow us to keep up with the rising Consumer Price Index (CPI). Unfortunately a Bank doesn't allow one to keep up with the rate of inflation. It has been 20 years or more since banks have paid a decent rate of return to their depositors. This means that you have less buying power at the end of December than you had on January 1st. There are other forms of Safe Money Assets that can protect and grow your assets and still produce a reasonable Rate of Return.
Thursday, March 28, 2013
Buy Tem and Invest the Difference! Is this sound advice?
Many readers listen or watch Suze Orman or Dave Ramsey in their finance shows. Don't get me wrong. I like them both. However there is one area where they always give bad advice! That is when they tell clients to only buy Term Insurance and Invest the savings. I do sell Term insurance but I generally use it as a supplement to a Cash Value Life Insurance policy that will always be there when the client or their family needs it. There are several problems with Dave and Suze's logic.
First,
what happens if you need to provide insurance for several years past the original term? One of several things happens, your policy expires with you receiving no benefit whatsoever, or if the policy permits you to keep paying, the premium jumps as much as 10-15 fold for each additional year with an insurance need, or the policy expires worthless and due to your then current age and health you have become Medically Uninsurable.
Second,
The problem relates to the actual math involved. A recent article in a professional publication demonstrated that the math often does not work out the way they suggest it should. I wont include the publication here but would gladly share the information and the math with readers individually. The real world numbers indicate that especially in a low interest rate environment (does this sound at all like like 2009- 2015) you are potentilly well ahead by buying a Cash value Life insurance product. The author illustrated a Whole life product but there are some other products that can perform even better.
Third,
This problem deals with the rate of return that they project when they do their projections. Both of them talk about making 7-8% per year on their portfolio. How many readers can honestly say that they have seen a 7-8% rate of return on their market risk assets in the past 10 years? Im willing to bet its no more thn one in a hundred who have seen that ten year return. IF you have then your 2003 $100,000 would now be worth $216,000 in 2013. This assums that you added no more money to the account in that 10 yr period. If the average investor did not turn 100K into 216K then the performance numbers quoted by Dave and Suze dont work out!!! You can make that in a good year but they fail to deal with the MASSIVE impact of the down years. Unfortunately real world investors suffer in the down years unless they are using some SAFE MONEY assets in the financial plan.
Fourth,
Its very hard to beat the potential Tax advantages of a properly designed and properly funded Cash Value Life Insurance policy. Nothing Beats Tax Free Income!!
I suggest that often a fiscally smarter way to go is to combine several insurance products. At least they should consider a Term and a Cash Vale policy to minimize premium expense and maximize protection for their premium dollars. Of course everyones situation is different and thats why they should consult with a licensed insurance professional to help analyse their specific needs.
First,
what happens if you need to provide insurance for several years past the original term? One of several things happens, your policy expires with you receiving no benefit whatsoever, or if the policy permits you to keep paying, the premium jumps as much as 10-15 fold for each additional year with an insurance need, or the policy expires worthless and due to your then current age and health you have become Medically Uninsurable.
Second,
The problem relates to the actual math involved. A recent article in a professional publication demonstrated that the math often does not work out the way they suggest it should. I wont include the publication here but would gladly share the information and the math with readers individually. The real world numbers indicate that especially in a low interest rate environment (does this sound at all like like 2009- 2015) you are potentilly well ahead by buying a Cash value Life insurance product. The author illustrated a Whole life product but there are some other products that can perform even better.
Third,
This problem deals with the rate of return that they project when they do their projections. Both of them talk about making 7-8% per year on their portfolio. How many readers can honestly say that they have seen a 7-8% rate of return on their market risk assets in the past 10 years? Im willing to bet its no more thn one in a hundred who have seen that ten year return. IF you have then your 2003 $100,000 would now be worth $216,000 in 2013. This assums that you added no more money to the account in that 10 yr period. If the average investor did not turn 100K into 216K then the performance numbers quoted by Dave and Suze dont work out!!! You can make that in a good year but they fail to deal with the MASSIVE impact of the down years. Unfortunately real world investors suffer in the down years unless they are using some SAFE MONEY assets in the financial plan.
Fourth,
Its very hard to beat the potential Tax advantages of a properly designed and properly funded Cash Value Life Insurance policy. Nothing Beats Tax Free Income!!
I suggest that often a fiscally smarter way to go is to combine several insurance products. At least they should consider a Term and a Cash Vale policy to minimize premium expense and maximize protection for their premium dollars. Of course everyones situation is different and thats why they should consult with a licensed insurance professional to help analyse their specific needs.
Wednesday, March 27, 2013
What Happens to Bonds When Interest Rates Rise?
This weekend an interesting article appeard in the Columbus Dispatch in the business section. It was titled "Bond-Lovers still buying despite risk, stock highs." In a recent month investors put $32 Billion into Bond Mutual Funds. This becomes a potential issue when interest rates are at all time record lows. Do you think that interest rates one, three or five years from now will be lower or higher than they are today? Can they get much lower? Can they get much higher? Is there upside interest rate risk? What happens to existing values when rates are rising? Simple economics answers that question. Existing prices fall when interest rate rise. The article further states "With Bond prices rising and interest yields at historic lows the risk has picked up significantly" The article is worth reading!
When customers wish to minimize their risks Safe Money products might be a logical part of a financial portfolio. Asset diversification is always very important.
Did you know that there are products that can guarantee lifetime income without any market risk?
I'm not telling anyone to buy something or to sell anything. I'm just sharing a nice article worth reading.
When customers wish to minimize their risks Safe Money products might be a logical part of a financial portfolio. Asset diversification is always very important.
Did you know that there are products that can guarantee lifetime income without any market risk?
I'm not telling anyone to buy something or to sell anything. I'm just sharing a nice article worth reading.
Saturday, March 23, 2013
OBAMA CARE The Afordable Care Act (ACA)
Not may people know that most of Obama Care enabling legislation didn't deal with health care at all. Most of the bill actually dealt with new and onerous tax increases needed to fund the bill. Did you know that all females have maternity coverage burried in the cost of premiums. Thats a mixed blessing of course. If a woman is Sexually active, married and in child bearing age. Its not necessary to add the cost of the premium for a woman who isnt sexually active or is beyond child bearing age. However courtesy of Obama its in there!
Did you know that every real estate transaction will involve a better than 3% federal tax on a home sale. We are not talking about a tax on short or long term gains. We are talking about a new massive tax incurred even if you loose money on a home sale. There are dozens and dozens of these new Taxes, Fines and Fees hidden in the 1000 plus pages of this legislation.
That just doesn't seem right to me.
What do you think???
Did you know that every real estate transaction will involve a better than 3% federal tax on a home sale. We are not talking about a tax on short or long term gains. We are talking about a new massive tax incurred even if you loose money on a home sale. There are dozens and dozens of these new Taxes, Fines and Fees hidden in the 1000 plus pages of this legislation.
That just doesn't seem right to me.
What do you think???
Friday, March 22, 2013
Would you be interested in 6.25% for 34 yrs?
Would you be interested in turning $383,000 into a guarantee income stream for 34 year and paying a total of $1,607,000. The transaction is only available to one client. when its sold its gone. There are other similar deals available with diferent amounts, diferent payment schedules, various durations and different nominal interest rates. Smaller deals are also available. The payment streams are guaranteed by Billion dollar Insurance Companies that are highly rated and very well known. This particular opportunity is issued by an A rated American insurance company.
Whats the catch?
You must qualify to purchase the deal.
You must have adequate liquidity to afford the transaction.
You get a schedule of monthly income checks thats is modest for the first 14 years then increases every year until the maturity in 2047
You cant change the monthly payment amounts. The payment schedule is available for review
You must have a very long term focus.
Im guessing the ideal client would be a professional with high net worth possibly a lawyer, doctor or business owner. Possibly utilizing IRA, SIMPLE, SEP or 401K assets. Imagine a $1.2 M plus gain in a ROTH! It could be a younger sucessful individual or an older client looking to fund a Mult-generational Family or charitable trust!
What are your thoughts on this type of very long term transaction and rate of return??
Public comments can be made here or
serious inquiries would be best handled by email or phone
Whats the catch?
You must qualify to purchase the deal.
You must have adequate liquidity to afford the transaction.
You get a schedule of monthly income checks thats is modest for the first 14 years then increases every year until the maturity in 2047
You cant change the monthly payment amounts. The payment schedule is available for review
You must have a very long term focus.
Im guessing the ideal client would be a professional with high net worth possibly a lawyer, doctor or business owner. Possibly utilizing IRA, SIMPLE, SEP or 401K assets. Imagine a $1.2 M plus gain in a ROTH! It could be a younger sucessful individual or an older client looking to fund a Mult-generational Family or charitable trust!
What are your thoughts on this type of very long term transaction and rate of return??
Public comments can be made here or
serious inquiries would be best handled by email or phone
Wednesday, March 20, 2013
How much money can you spend in your retirement
Most Professional Financial Advisors use a Rule of Thumb called "The 4% Rule". Rules help clients understand what they should or should not do. This rule states that if you want a high probability that your retirement assets will last as long as you live you should remove or spend no more than 4% of your assets per year. This rule applies to self managed money accounts and does not apply to Defined Benefits assets. Recently we have lived through 5 or more years with Low interest rate earnings, High market volatility and we are actually living longer than ever in history. A number of economists and planners have asked and studied this question. "Does the 4% Rule still apply in todays world?" What a great question! Many financial Advisors now believe that it no longer provides adequate protect of your income for life. They believe that you should limit withdrawals to only 3 % or so if you want your self managed assets to last for your lifetime.
A recent study that appeared in the Journal of Financial Planning has found that up to 18% of people utilizing the 4% Rule will in fact run out of money before they die. That is a terrifying study result! That means that many people will have to work long and or spend less in their retirement years.
What should a retired boomer, retiree or pre-retiree do. They can decide to work longer and spend less. Those are a couple of good steps. Clearly they should also convert at least some portion of their assets into a Lifetime guaranteed income stream. These products are only available from Licensed Life insurance agents with the products and knowledge needed to meet these needs. This is what I have focused my business on for over 8 years. Some of these products can Guarantee a withdrawal rate for life of 5% or more for your entire lifetime. Now compare that to the 4% Rule or maybe 3-3.5% withdrawal rate with self managed assets. These products can guarantee you an income 25-66% more than you can get from any self managed assets with the same Asset value. Thes products do this with Zero Market Risk. They delivered during 2008-2009 and they can do the same thing during the next recession whenever the out of control goverment excess spending creates the next Recession. These products have a role to play in almost everyones retirement strategy.
A recent study that appeared in the Journal of Financial Planning has found that up to 18% of people utilizing the 4% Rule will in fact run out of money before they die. That is a terrifying study result! That means that many people will have to work long and or spend less in their retirement years.
What should a retired boomer, retiree or pre-retiree do. They can decide to work longer and spend less. Those are a couple of good steps. Clearly they should also convert at least some portion of their assets into a Lifetime guaranteed income stream. These products are only available from Licensed Life insurance agents with the products and knowledge needed to meet these needs. This is what I have focused my business on for over 8 years. Some of these products can Guarantee a withdrawal rate for life of 5% or more for your entire lifetime. Now compare that to the 4% Rule or maybe 3-3.5% withdrawal rate with self managed assets. These products can guarantee you an income 25-66% more than you can get from any self managed assets with the same Asset value. Thes products do this with Zero Market Risk. They delivered during 2008-2009 and they can do the same thing during the next recession whenever the out of control goverment excess spending creates the next Recession. These products have a role to play in almost everyones retirement strategy.
Monday, March 4, 2013
PBS Television Ed Slott 2013 Retirement Rescue Show
Sat March 2 2013, and Sat march 9th WOSU PBS television station in Ohio is broadcasting a great financial show. Unlike Suze Orman and Dave Ramsey who have no professional training in Finance or Taxation or Retirement Planning. Ed Slott is a professional Certified Public Accountant (CPA) and a retirement expert. His Special is running on Public Television which does not accept commercial advertising. He does not sell Financial products, Stocks, Bonds or Mutual Funds, Insurance or Annuity products. Because the show airs on Public TV there are no advertisers like TD Ameritrade or other Securities Brokerage firms as show sponsors, or advertisers and potential content influencers. Just look at the advertisers or show sponsors for the Suze Ormon or Dave Ramsey shows.
Don't get me wrong, I like Suze and Dave. They do give a lot of good advice. However I know that some of their messages are biased, probably unintentionally, by their Lack of Accounting, Financial Training or their commercial sponsorship relationships. They believe that the only life insurance anyone ever needs is term life insurance. They are flat out wrong! Although some clients may never need any other form of insurance many clients need a combination of both and some clients may be better served by purchasing a cash value product
Ed Slott has no comericial sponsorship bias and does not sell Securities, Bonds, Mutual Funds, Insurance or Annuities. Ed recognizes and speaks favorably about the unique advantages found only with Fixed Annuity products and Universal Life Insurance. He Loves Tax Free retirement strategies. He says "Move your money from Forever Taxed to accounts that are Never Taxed." ROTH IRA's are one way to accomplish this goal. 401 K Plan rollovers are a useful tool where you can pay some tax now to avoid much higher taxes later.
I agree with his strategies and can help implement them for clients looking to protect some or even most of their assets from taxation now and into the future. Another quote I loved was " The only thing better than guaranteed income for life is guaranteed Tax Free income for life." Contact me if you want help with the strategies needed to accomplish either or both of these strategies.
Don't get me wrong, I like Suze and Dave. They do give a lot of good advice. However I know that some of their messages are biased, probably unintentionally, by their Lack of Accounting, Financial Training or their commercial sponsorship relationships. They believe that the only life insurance anyone ever needs is term life insurance. They are flat out wrong! Although some clients may never need any other form of insurance many clients need a combination of both and some clients may be better served by purchasing a cash value product
Ed Slott has no comericial sponsorship bias and does not sell Securities, Bonds, Mutual Funds, Insurance or Annuities. Ed recognizes and speaks favorably about the unique advantages found only with Fixed Annuity products and Universal Life Insurance. He Loves Tax Free retirement strategies. He says "Move your money from Forever Taxed to accounts that are Never Taxed." ROTH IRA's are one way to accomplish this goal. 401 K Plan rollovers are a useful tool where you can pay some tax now to avoid much higher taxes later.
I agree with his strategies and can help implement them for clients looking to protect some or even most of their assets from taxation now and into the future. Another quote I loved was " The only thing better than guaranteed income for life is guaranteed Tax Free income for life." Contact me if you want help with the strategies needed to accomplish either or both of these strategies.
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