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There are many risks we deal with every single day of our lives. Some risks can be insured; others are uninsurable; and yet others are self-insured, meaning we carry the burden of risk upon ourselves. Risk management is the practice of appraising and controlling risk. Risk can, and should be, profitable for you now, as well as in the future. Are you ready for these risks? What if you become sick, disabled or pass away? What if your spouse dies? What if your car gets...
View ArticleI cannot count the times that I have sat down with a couple and asked what they would like to have in their retirement portfolio, and they tell me they want to have guaranteed income they cannot outlive, maintain their principal with little or no risk, and be able to participate in the market when it increases. They get excited when I reveal that there are tools that meet these requests, but when I mention the word “annuity,” they grow horns. I believe this negative...
View ArticleIf you are reading this article right now, it is likely that you fall into one of these three categories: 1) You’re retired 2) You will soon be retired and are in the process of planning your retirement 3) You’re a successful professional planning ahead for retirement Regardless of which category you fall into, you’re in the right place. What you are about to learn is extremely important when it comes to building your retirement plan the right way. You don’t want anything falling through...
View ArticleIn today’s fast-paced world and economy we need to be sure of the financial steps we take, after all, it could mean the difference between enjoying retirement without worry, cutting back on your lifestyle, or worse yet, going back to work. 3 Reasons to Annuity or Not to Annuity If you are ok with market fluctuations and you truly have a sense of peace that the stock market will never go down again, then you should not put your money in an annuity. You see,...
View ArticleWhich came first? Throughout the ages, the question of the chicken or the egg has led to many discussions and even more questions. This article is not about chickens or eggs, but it is about the order that we should think about financial matters. On first introduction, we are often asked, “What do you think of a specific investment, insurance product, or style of investing?” There is only one correct answer to this type of question: “It depends.” The intent is not to be vague...
View ArticleThe kids are off to college, your parents are still living independently, and there you are with your significant other, roaming around a big, empty house wondering why, and it hits you: “Let’s downsize!” Financially, it makes perfect sense. You’re paying for a lot of house you’re not using. You’ve got a big yard to maintain and a lot of stuff that you haven’t used in years. If you’ve owned the house for a while, you probably have some equity that could be used to...
View ArticleHow annuities are taxed can be dependent on the types of funds you use to invest in the annuity. When you invest with qualified funds, withdrawals are taxed as ordinary income. When you invest in an annuity contract with non-qualified funds, withdrawals are taxed as ordinary income until you get to the principal, which has already been taxed. When you use tax-free or Roth investments to fund your annuity contract, withdrawals maintain their tax-free status. Qualified – The first and most common option is utilizing...
View ArticleSo the title (Retirement 101: Planning for FV=PV(1+i)t3) of my article is a bit odd, you say? Maybe it is to you, but it most certainly shouldn’t be to a professional financial advisor. I find it curious how so many advisors all across the country fail to solve for FV. What is FV, you ask? It represents “Future Value” (as in, the future value of your money) of course. Why is factoring inflation so important to the hard-earned asset base that you have accumulated to...
View ArticleIn the May 2014 AARP magazine, Allan Roth set the tone for his article “Don’t Buy It”with a picture of Leonardo DiCaprio, star of the movie The Wolf of Wall Street. In the film, DiCaprio plays a dishonest, immoral and unethical investment banker. This “Wolf of Wall Street” ended up in prison for the rest of his life, convicted of felony charges, racketeering, extortion, and stealing money from the general public. He was a wicked and completely dishonest criminal, much like Bernie Madoff. Roth suggested...
View ArticleSo, you have decided to purchase an annuity. Remember that most fixed annuities only provide annual statements – do not wait a whole year to find out if you have been scammed! The Latin statement caveat emptor, “Let the buyer beware,” has never been more appropriate. No one wants to lose his or her retirement savings to the likes of Bernie Madoff, or be the poster child for shows like “American Greed: Scams, Schemes, and Broken Dreams.” Be knowledgeable about where your funds are going....
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