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
Friday, September 27, 2013
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
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