With market volatility and misinformation that exists about them, why trust your "nest egg" to these two factors? If you're interested in some alternatives, we have those strategies. Happy New Year's!
https://www.foremostadvice.com/pdfservice/ConceptPiece.27e51aa3-23b6-40c3-819b-1fbce04ec49e.pdf
Thursday, December 29, 2011
Monday, December 26, 2011
Tuesday, December 20, 2011
Charitable Remainder Trusts
A charitable remainder trust (CRT) can be a great way for taxpayers to leverage their generosity, producing tax savings that can be used to provide greater benefits to themselves, their spouses, or others, and then to their favorite charities. Tax savings are generated because taxpayers receive income, gift, and estate tax deductions for the value of their donations, and can defer or avoid capital gains tax when appreciated assets are donated.
Thursday, December 15, 2011
Tuesday, December 13, 2011
529 College Savings Plans
https://www.foremostadvice.com/pdfservice/ConceptPiece.b8ac190e-609f-4e38-bfa6-2ee158accf70.pdf
Monday, December 12, 2011
Thursday, December 8, 2011
Children Bring New Estate Planning Concerns
http://knowledgebase.findlaw.com/kb/2011/Nov/427455.html
from Escobar & Associates Law Firm, Ltd.& Findlaw.com
from Escobar & Associates Law Firm, Ltd.& Findlaw.com
Wednesday, December 7, 2011
Fixed Index Annuity Announcement
Proud to announce that the Allianz Fixed Index Annuity is now available in the states of Kentucky, Texas & Washington and we care help you introduce you to Fixed Index Annuities. I represent many companies and research as much as possible on different companies & their products. With this strategy, we can obtain stability & security with a 0% maximum loss each year. While at the same looking at past performance of this extremely sound company, Allianz, and see why they are successful. Did I mention that we can enjoy the balance or cash deposit bonus of 7%? We can shop a few other companies that would offer 10%. For more information in these states, please contact me.
Monday, December 5, 2011
Long Term Care Annuities
Something that hasn't been around too long, LTC annuities. With some you can get more "bang for your buck." And if the pool of funds for the LTC is not used, your initial premium & growth is returned to the beneficiary.
https://www.foremostadvice.com/pdfservice/ConceptPiece.adb546e4-1290-43bd-a39e-193b48a9901e.pdf
https://www.foremostadvice.com/pdfservice/ConceptPiece.adb546e4-1290-43bd-a39e-193b48a9901e.pdf
Friday, December 2, 2011
Thursday, December 1, 2011
12/1 Long Term Care Insurance
November 30th marked the end to Long Term Care Insurance Awareness Month. The awareness of the importance of Long Term Care shouldn't end with it. If you needed Long Term Care, why on earth would you want to spend $60,00-$80,000 of your hard earned money on Long Term Care? Why wouldn't you want to buy Long Term Care Insurance for pennies on the dollar?
Wednesday, November 30, 2011
Tuesday, November 29, 2011
Monday, November 28, 2011
What is a REBA? Golden Handcuffs?
A Restricted Executive Bonus Arrangement can create a "Golden Handcuff." Allow me to show you how to help retain a key employee and/or an executive with a deferred compensation strategy.
Wednesday, November 23, 2011
The College Board Releases 2011/2012 College Cost Figures
The College Board Releases 2011/2012 College Cost Figures
On October 26, 2011, The College Board released college cost
figures for the 2011/2012 academic year in its annual Trends in College
Pricing report. Here are the highlights:
Public colleges (in-state students):
Tuition and fees increased an average of 8.3%
Room and board increased an average of 4.0%
Total average cost for 2011/2012 is $21,447
Public colleges (out-of-state students):
Tuition and fees increased an average of 5.7%
Room and board increased an average of 4.0%
Total average cost for 2011/2012 is $33,973
Private colleges:
Tuition and fees increased an average of 4.5%
Room and board increased an average of 3.9%
Total average cost for 2011/2012 is $42,224
“Total average cost” includes tuition and fees, room and board,
books and supplies, transportation, and a small amount for
miscellaneous costs.
Public colleges (in-state students):
Tuesday, November 22, 2011
A Solution to Market Volatility? Perhaps!
What argument could be made right now supporting the volatility of the market? This is not the same day & time that helped create the success of the markets. Why should use your hard earned money ? To one, take a risk of your retirement income to chance the conditions in the marketplace that are upon us today? These are not normal times, plenty of graphs will show us that before the internet bubble, 2008 and currently, with the news of how Europe is doing. Europe will have an impact on us, anyone who tells you different needs a refresher. Why not lock in your money with a 0% floor (that means, no negative...guaranteed)? Take the guarantee on the balance & accumulated amount, participate in the some of the good of the market & eliminate the downside? You still have access to your money, the money is safe, protected & guaranteed against significant negative performance. There are existing strategies that can help you navigate through these unforeseen times. It is my belief that the United States has never seen the issues we are facing. Safe alternatives do exist. The next question to answer is would you prefer your total amount of money returned to you or guaranteed income for life? Have a Happy Thanksgiving!
Thursday, November 17, 2011
Wednesday, November 16, 2011
11/16 Quick: Gift Tax Strategies
Gift Tax StrategiesIf you can afford to make gifts now, the current
large gift tax applicable exclusion amount, low gift tax rates, depressed
property values, and low interest rates create a favorable environment for
making certain gifts.
Tuesday, November 15, 2011
11/15 Quick: Beware of Pure or Constitutional Trusts
Have you heard of Pure or Constitutional Trusts? If a financial or insurance professional or a lawyer solicits this type of trust as an option to your estate plan, remember this blog. One of these trusts are advertised to the taxpayer on the notion that you can absolve paying income taxes, this is simply not true. The taxpayer actually may end up paying 3 times the tax bill. If such a person approaches you with this "strategy" please feel free to contact me. I will, along with my estate planning team, explain to you details and why they won't work...maybe even resulting in penalties and/or fines.
New Student Debt Repayment Plan Released 11/15
On October 26, 2011, President Obama announced a plan that seeks to
help college graduates pay back their federal student loans. The plan is
an executive order and does not require approval by Congress. It is
scheduled to take effect beginning in 2012.
Background
Despite more aggressive debt shedding by American consumers
since the recession, student loan debt continues to grow. According to
the federal government, 36 million Americans have federal student loan
debt. Last summer, total student loan debt surpassed credit card debt
for the first time, and this year outstanding student loan debt is on
track to reach $1 trillion, according to the Federal Reserve Bank of New
York.
In addition, in September, the U.S. Department of Education released data showing that the percentage of student loan borrowers who defaulted in 2009 (the latest year for which figures are available) rose to 8.8% from 7%. That percentage is likely higher now due to the recession, as millions of cash-strapped college students attempt to pay back student loans in a tough economy. According to the Chronicle of Higher Education, last year the unemployment rate for college graduates under the age of 24 rose to 9.4%, the highest level in at least 15 years.
In the meantime, college tuition continues to rise; the College Board recently announced in its Trends in College Pricing 2011 report that tuition costs for the 2011/2012 academic year increased 4.5% for private colleges and 8.3% for public colleges (to view the report, visit www.collegeboard.com/trends). The average total cost of attendance this year is now $42,224 for private colleges and $21,447 for public colleges. And next July, the interest rate on federal Stafford Loans is scheduled to double--to 6.8%--costing the average borrower thousands of dollars over the life of the loan.
Against this backdrop, following are the highlights of President Obama's plan.
Loan consolidation Students who hold both direct federal student loans and federal student loans made by private lenders under the now defunct Federal Family Education Loan Program would be able to consolidate their loans between January and June 2012 into a single government loan at an interest rate of up to 0.5% less. The White House estimates this could help approximately 5.8 million borrowers.
Income-based repayment President Obama's plan will accelerate the start of an income-based repayment program to 2012 from the original start date of 2014. The program, approved by Congress last year, caps monthly federal student loan payments at 15% of income and forgives all remaining debt after 25 years. Under the new plan, federal student loan payments will be capped at 10% of income with all remaining debt forgiven after 20 years. The White House estimates this could help 1.6 million borrowers.
Who qualifies? According to the U.S. Department of Education, to qualify for loan consolidation, borrowers must have both a direct federal student loan and a federal student loan under the Federal Family Education Loan Program. To qualify for the accelerated component of the income-based repayment plan, borrowers must take out a loan in 2012 or later and have taken out a loan sometime between 2008 and 2012. Borrowers who are already in default won't qualify.
For more information on the new programs, you can call the office of Federal Student Aid, a division of the U.S. Department of Education, at 1-800-433-3243 (1-800-4fedaid) or visit www.studentaid.ed.gov.
Background
Despite more aggressive debt shedding by American consumers
since the recession, student loan debt continues to grow. According to
the federal government, 36 million Americans have federal student loan
debt. Last summer, total student loan debt surpassed credit card debt
for the first time, and this year outstanding student loan debt is on
track to reach $1 trillion, according to the Federal Reserve Bank of New
York.In addition, in September, the U.S. Department of Education released data showing that the percentage of student loan borrowers who defaulted in 2009 (the latest year for which figures are available) rose to 8.8% from 7%. That percentage is likely higher now due to the recession, as millions of cash-strapped college students attempt to pay back student loans in a tough economy. According to the Chronicle of Higher Education, last year the unemployment rate for college graduates under the age of 24 rose to 9.4%, the highest level in at least 15 years.
In the meantime, college tuition continues to rise; the College Board recently announced in its Trends in College Pricing 2011 report that tuition costs for the 2011/2012 academic year increased 4.5% for private colleges and 8.3% for public colleges (to view the report, visit www.collegeboard.com/trends). The average total cost of attendance this year is now $42,224 for private colleges and $21,447 for public colleges. And next July, the interest rate on federal Stafford Loans is scheduled to double--to 6.8%--costing the average borrower thousands of dollars over the life of the loan.
Against this backdrop, following are the highlights of President Obama's plan.
Loan consolidation Students who hold both direct federal student loans and federal student loans made by private lenders under the now defunct Federal Family Education Loan Program would be able to consolidate their loans between January and June 2012 into a single government loan at an interest rate of up to 0.5% less. The White House estimates this could help approximately 5.8 million borrowers.
Income-based repayment President Obama's plan will accelerate the start of an income-based repayment program to 2012 from the original start date of 2014. The program, approved by Congress last year, caps monthly federal student loan payments at 15% of income and forgives all remaining debt after 25 years. Under the new plan, federal student loan payments will be capped at 10% of income with all remaining debt forgiven after 20 years. The White House estimates this could help 1.6 million borrowers.
Who qualifies? According to the U.S. Department of Education, to qualify for loan consolidation, borrowers must have both a direct federal student loan and a federal student loan under the Federal Family Education Loan Program. To qualify for the accelerated component of the income-based repayment plan, borrowers must take out a loan in 2012 or later and have taken out a loan sometime between 2008 and 2012. Borrowers who are already in default won't qualify.
For more information on the new programs, you can call the office of Federal Student Aid, a division of the U.S. Department of Education, at 1-800-433-3243 (1-800-4fedaid) or visit www.studentaid.ed.gov.
Monday, November 14, 2011
11/14 Quick: Long Term Care Insurance Planning is Especially Important for Women
The prospect of needing long-term care is an important, yet sometimes
overlooked, part of financial and retirement planning. Yet it may be
especially vital for women to consider as they often face long-term care
as both a caregiver and recipient.
Friday, November 11, 2011
Feedback?
Anyone who reads the blogspot, or goes to the facebook page or our foundation,
www.louisvilleprospectsfoundation.org
Let me ask a favor of you. Could you please send me feedback? If you choose to send some in, thank you in advance & please send true criticism to prospectsfinancial@gmail.com or jayjonesinsurance@att.net
Tell me what you have read you liked and may want more information on or tell me what you didn't like & why. If you would like to have information on a subject I haven't introduced, I will do my best. Sale you something, maybe. Educate you on something, definitely. Share with you, always.
www.louisvilleprospectsfoundation.org
Let me ask a favor of you. Could you please send me feedback? If you choose to send some in, thank you in advance & please send true criticism to prospectsfinancial@gmail.com or jayjonesinsurance@att.net
Tell me what you have read you liked and may want more information on or tell me what you didn't like & why. If you would like to have information on a subject I haven't introduced, I will do my best. Sale you something, maybe. Educate you on something, definitely. Share with you, always.
So Called Human Resource Departments
First of all, thanks to all the veterans & military personnel. I'm sure there are some really good human resource departments and great people working in those departments. However, it is my experience from doing a great deal of group benefit consultation & plan design, that Human Resource departments are inadequate, at best! What is your experience with your Human Resource department at your place of employment? If it is like what I have encountered, you do not stand a chance of having a "qualified" person take care of the matters that are only second to your paycheck at work.
It is almost a "cookie cutter" example of individuals that have been employed to handle such important matters.
One example, an employee of a company had a child & wanted to her group health insurance policy to cover her child. Although those in the insurance profession may know that the health insurance company covers the baby for the first 30 days, she still needed to add the child. Additionally, she had questions regarding her short term disability, paychecks & tried several times to call them. Upon leaving numerous voicemails with her "Human Resource Department" she appeared in person & demanded action.
It is my experience that these so called "Human Resource Departments" are worthless. I feel sorry for someone who isn't aware of their benefits & need assistance. Again, I know there are many who work in this field & do a great job. This is targeted for those that know who they are! Do your job!!
It is almost a "cookie cutter" example of individuals that have been employed to handle such important matters.
One example, an employee of a company had a child & wanted to her group health insurance policy to cover her child. Although those in the insurance profession may know that the health insurance company covers the baby for the first 30 days, she still needed to add the child. Additionally, she had questions regarding her short term disability, paychecks & tried several times to call them. Upon leaving numerous voicemails with her "Human Resource Department" she appeared in person & demanded action.
It is my experience that these so called "Human Resource Departments" are worthless. I feel sorry for someone who isn't aware of their benefits & need assistance. Again, I know there are many who work in this field & do a great job. This is targeted for those that know who they are! Do your job!!
Thursday, November 10, 2011
Education Tax Credits & Deductions
As the end of the year approaches, I thought it would be wise to review this piece.
https://www.foremostadvice.com/pdfservice/ConceptPiece.132129fe-24f2-44db-996a-1d1914e321f3.pdf
https://www.foremostadvice.com/pdfservice/ConceptPiece.132129fe-24f2-44db-996a-1d1914e321f3.pdf
Social Security and Medicare Figures for 2012 Announced - November 10, 2011
Social Security and Medicare Figures for 2012 Announced - November 10, 2011
|
The Social Security Administration has
announced that for the first time since 2009, a cost-of-living
adjustment (COLA) will be paid to Social Security
beneficiaries and Supplemental Security Income (SSI) recipients.
Monthly benefits will increase 3.6% starting in January 2012 for Social
Security beneficiaries
and starting on December 30, 2011, for SSI recipients. According
to the Social Security Administration, the average increase in monthly
benefits will be approximately $43. Despite many media reports predicting that the Social Security COLA increase would be offset by higher Medicare Part B premiums, the Centers for Medicare & Medicaid Services (CMS) announced that the standard monthly Medicare Part B premium will be $99.90 in 2012, $15.50 less than in 2011. However, because the premium for most Medicare beneficiaries has been frozen at $96.40 (the premium rate in 2008) for the past three years, premiums for most people will increase by $3.50 in 2012. Beneficiaries who have higher incomes (a modified adjusted gross income of more than $85,000 for an individual or $170,000 for a couple) will pay more than $99.90 because they are required to pay an income-related surcharge. While costs vary, the average premium for a Medicare Part D prescription drug plan in 2012 is estimated at around $30, approximately the same as in 2011. And Medicare Advantage premiums will be 4% lower, on average, in 2012 than in 2011, according to CMS. Here are some other important Social Security figures for 2012:
|
Here are some other important Medicare figures for 2012:
We'll continue to pass along timely, relevant information--providing fresh and interesting ways for you to engage and motivate your clients. |
||
Novermber 10th Quick: Employer Owned Life Insurance Policies EOLI
11/10 Quick: If you are a business owner who has taken out a life insurance policy, in which the company owns, on a key man (someone who is responsible for large production or their role with the company) or even a business partner that you may be involved in an entity purchase buy sell agreement...those policies are in need of review immediately. Under the Pension Act of 2006, EOLI policies are subject to taxation. Life insurance policies may pass tax free to the beneficiary. If certain notice & consent requirements are met in a timely manner, & certain safe harbor fules apply, death benefits still pass income tax free.
Wednesday, November 9, 2011
IRS announces Pension Plan Limitations for 2012
IRS
Announces Pension Plan Limitations for 2012
The
IRS has issued news release IR-2011-103, which announces cost-of-living
adjustments to pension plan limitations and other items for 2012.
On October 20, 2011, the IRS issued news release IR-2011-103 announcing
cost-of-living adjustments to dollar limitations for pension plans. Items
addressed for 2012 include:Elective deferrals
- The annual elective deferral limit for 401(k) plans, 403(b) plans, 457(b) plans, SAR-SEPs, and the federal government's Thrift Savings Plan increases from $16,500 in 2011 to $17,000 in 2012
- The annual elective deferral limit for SIMPLE plans remains unchanged at $11,500
- The annual limit on additional catch-up contributions to 401(k), 403(b), and Section 457(b) plans remains unchanged at $5,500
- The annual limit on additional catch-up contributions to a SIMPLE plan remains unchanged at $2,500
- The dollar limit on annual additions to a defined contribution plan increases from $49,000 in 2011 to $50,000 in 2012
- The dollar limit on the annual benefit under a defined benefit plan increases from $195,000 in 2011 to $200,000 in 2012
- The annual compensation limit for qualified retirement plan purposes increases from $245,000 in 2011 to $250,000 in 2012
- The annual compensation amount used in the definition of a highly compensated employee increases from $110,000 in 2011 to $115,000 in 2012
- The annual compensation amount used in the definition of a key employee in a top-heavy plan increases from $160,000 in 2011 to $165,000 in 2012
- For purposes of determining a qualifying employee under a simplified employee pension (SEP) plan, the minimum amount of annual compensation remains unchanged at $550
Monday, November 7, 2011
Why is it important to review your trust or other documents?
Changes were made in the 2010 to estate taxes. The attached article shows you such changes. But what about next year & even the year after? What changes lie in front of us? There is still time in 2011 to look at those documents and discuss the landscape and how it applies to you & your family.
https://www.foremostadvice.com/pdfservice/ConceptPiece.115f4236-2579-4d47-9cec-518be73dd73a.pdf
https://www.foremostadvice.com/pdfservice/ConceptPiece.115f4236-2579-4d47-9cec-518be73dd73a.pdf
Thursday, November 3, 2011
College Board Releases New College Cost Figures - November 3, 2011
On October
25, 2011, the College Board released college cost figures for the 2011/2012
academic year in its annual Trends in College Pricing report.
To view the
Trends in College Pricing 2011 report, click here.
Here are the
highlights:
Public
colleges (in-state students):
Room and
board increased an average of 4.0% to $8,887
Total
average cost* for 2011/2012: $21,447
Public
colleges (out-of-state students):
Room and
board increased an average of 4.0% to $8,887
Total average
cost* for 2011/2012: $33,973
Private
colleges:
Room and
board increased an average of 3.9% to $10,089
Total
average cost* for 2011/2012: $42,224
11/3 Quick: Worried about paying for college? We have strategies for these solutions!
Let us show you how to prepare for college funding of your children. Whether it is a traditional 529 College Savings Plan or more of a sophisicated situation that involves life insurance policies and even trusts established to help through the years of college.
http://www.lcctorch.com/2011/11/03/students-face-tough-realities-in-paying-for-college/
http://www.lcctorch.com/2011/11/03/students-face-tough-realities-in-paying-for-college/
Wednesday, November 2, 2011
11/2 Quick: Do you have an annuity? Do you have more than one?
And possibly, are they with two different companies?
We can obtain a guarantee on the balance of transfer. If applicable, we can earn a 6% Bonus on the balance. We can protect against negative market fluctuations and while protected, your money grows with a tax deferred benefit. Yes this scenario exists and yes if the market plunges, you recieve a 0 instead of a (-you put the amount here).
Thanks for your time.
We can obtain a guarantee on the balance of transfer. If applicable, we can earn a 6% Bonus on the balance. We can protect against negative market fluctuations and while protected, your money grows with a tax deferred benefit. Yes this scenario exists and yes if the market plunges, you recieve a 0 instead of a (-you put the amount here).
Thanks for your time.
11/2 Quick: Caregivers should be protected with Long Term Care
Many caregivers end up needing care themselves. And while 50% of the bankruptcy filings in the U.S. are a result from medical expenses. Long Term Care insurance & proper estate planning can help avoid if the "Lady" in your life is also your "caregiver" in the elderly years. She should have protection, in case she needs care too.
http://www.lifehappens.org/safeguarding-the-caregiver-with-ltci/
http://www.lifehappens.org/safeguarding-the-caregiver-with-ltci/
November is Long Term Care Awareness Month
Regardless of what side of the isle you are on when it comes to politics, the Healthcare law has been something as advisors, citizens, and business owners
we have had to deal with for the last two years. Recently, we have seen where the Long Term Care portion of the bill has been ruled unsustainable...increasing the urgency in the November Awareness Month, I feel. Not sure what you think of the New York Times, but they do have a good article on just this topic. I cannot begin to tell you how passionate I am as an advisor about Long Term Care & Disability insurance. In my years of experience, I have seen the hands on need for the above mentioned. Check out other pieces on Long Term Care on my blog. Have a great weekend.
http://www.nytimes.com/2011/10/25/health/25seniors.html?_r=1
we have had to deal with for the last two years. Recently, we have seen where the Long Term Care portion of the bill has been ruled unsustainable...increasing the urgency in the November Awareness Month, I feel. Not sure what you think of the New York Times, but they do have a good article on just this topic. I cannot begin to tell you how passionate I am as an advisor about Long Term Care & Disability insurance. In my years of experience, I have seen the hands on need for the above mentioned. Check out other pieces on Long Term Care on my blog. Have a great weekend.
http://www.nytimes.com/2011/10/25/health/25seniors.html?_r=1
Changed Jobs? Old 401k? Let's roll it over...
If, for whatever reason, have lost your job chances are you had an old 401k. See if these options appeal to you. Would you like an 6 or 7% bonus on the balance of that old 401k? Would you like the priniciple, the bonus and any additional money that may be put in be protected and gauranteed? And of course you would like this money to grow tax deferred, so that they day you retire and withdraw the money at an older age, your tax bracket will be lower. Of course you would. Remember, the only thing better than tax deferred growth is tax free, and there is a strategy for that but that's another subject. Let me show you how!
https://www.foremostadvice.com/pdfservice/ConceptPiece.40db5763-35cb-4d53-a7c1-cd95b5216e65.pdf
https://www.foremostadvice.com/pdfservice/ConceptPiece.40db5763-35cb-4d53-a7c1-cd95b5216e65.pdf
Tuesday, November 1, 2011
November is Long Term Care Insurance Awareness Month
Don't let Dave Ramsey & Suzy Orman guide you into a mistake. Their approach is fine, if you are insurable when they advise you to take out a policy (both life & LTC). What if something happens to you before you take the policy out? With life insurance you may get rated or denied. But with LTC, you just get denied. It is either pass or fail with Long Term Care Insurance.
http://www.lifehappens.org/what-to-do-now-to-be-ready-for-tomorrows-reality/
http://www.lifehappens.org/what-to-do-now-to-be-ready-for-tomorrows-reality/
Please don't tell me the only life insurance you have is the $50,000 or $75,000 offered at work?
I am an estate planner with experience in insurance of all kinds & annuities. Witnessing folks after saying to me, "Jay, of course I have life insurance in case something happens." Only to find out after they pull that policy out of the basement that the life insurance they thought they had is a group policy from their employer. A person who is the primary wage earner in the family needs 8-10 times theamount of their salary to pay off debt, for final expenses, help their family maintain their lifestyle (to include the kids college funds), and more. Let me ask you this, do you think $50,000 or $75,000 will do the trick?
http://www.foxbusiness.com/personal-finance/2011/10/24/do-need-supplemental-life-insurance/
http://www.foxbusiness.com/personal-finance/2011/10/24/do-need-supplemental-life-insurance/
Monday, October 31, 2011
Accelerating Retirement Savings With Leverage
Accelerating Retirement Savings With Leverage
When we access our money, there are only two categories that we can pull money from.
The first is taxable (this includes tax deferred/tax qualified plans): 401(k), 403b,
traditional IRA, and various types of annuities just to name a few. When we begin taking
distributions from this category, some taxes will be due. The second category is income
tax free- the Roth IRA, when qualified distributions are taken, is a well known financial
vehicle in this category. When we take money from this category, we pay NO FEDERAL
INCOME TAXES.
Let us show you how to jump start your savings, in a safe & stable way. Learn how to, as a business owner who may or may not started saving for retirement, have an alternative to a 401k plan.
http://www.globalfd.com/pdf/Article-NationalUnderwriterAcceleratingRetirement.pdf
When we access our money, there are only two categories that we can pull money from.
The first is taxable (this includes tax deferred/tax qualified plans): 401(k), 403b,
traditional IRA, and various types of annuities just to name a few. When we begin taking
distributions from this category, some taxes will be due. The second category is income
tax free- the Roth IRA, when qualified distributions are taken, is a well known financial
vehicle in this category. When we take money from this category, we pay NO FEDERAL
INCOME TAXES.
Let us show you how to jump start your savings, in a safe & stable way. Learn how to, as a business owner who may or may not started saving for retirement, have an alternative to a 401k plan.
http://www.globalfd.com/pdf/Article-NationalUnderwriterAcceleratingRetirement.pdf
Jay R. Jones Estate Planning Introduces "Quick"
Once an important piece of information is gathered or researched, sharing that information is just as important as the details of that information. That is why I am introducing a "Quick" that will "quickly" provide readers through Facebook, Google +, and other social media websites. As always, we ask you to check out our Children Foundation's website: www.louisvilleprospectsfoundation.org
We thank you...
Quick...
Business professionals (lawyers, doctors, accountants, etc.) with personal service corporations are taxed at a flat 35% federal income tax rate. Right now, many personal service corporation owners start looking for year-end tax deductions.
We thank you...
Quick...
Business professionals (lawyers, doctors, accountants, etc.) with personal service corporations are taxed at a flat 35% federal income tax rate. Right now, many personal service corporation owners start looking for year-end tax deductions.
Friday, October 28, 2011
Leaving a Legacy
On this Friday when we are closing up for the week, thinking about the weekend or maybe not even thinking because the week has been tough...take time to think about your legacy you will leave behind!
https://www.foremostadvice.com/pdfservice/ConceptPiece.37cddb00-a44a-40f6-8f30-0aeece0cd049.pdf
https://www.foremostadvice.com/pdfservice/ConceptPiece.37cddb00-a44a-40f6-8f30-0aeece0cd049.pdf
6-tips-to-save-on-your-health-insurance-during-open-enrollment
If you're employer isn't offering things like group disability, cancer, accident policies, they should be...depending on which carrier, it doesn't cost them a dime. And actually it could save them money by offering them to their employees. Open enrollment is approaching fast, be prepared & ask questions.
http://www.lifehappens.org/6-tips-to-save-on-your-health-insurance-during-open-enrollment/
http://www.lifehappens.org/6-tips-to-save-on-your-health-insurance-during-open-enrollment/
Thursday, October 27, 2011
Louisville Prospects Foundation, Inc. for Children
Please check out www.louisvilleprospectsfoundation.org
If you can, please donate or contribute anyway possible...funds always go to the youth. Thanks!
If you can, please donate or contribute anyway possible...funds always go to the youth. Thanks!
Wednesday, October 26, 2011
Monday, October 24, 2011
Saturday, October 22, 2011
Louisville Prospects Foundation presents the 2nd Annual Bluegrass Spring Classic
To find out more visit the link below or visit www.louisvilleprospectsfoundation.org
If you are interested in sponsoring the event, please feel free to contact us through the website. Thank you for your support in advance.
https://www.forefieldkt.com/kt/htmlnl.aspx?type=fca&id=22&mid=203341&iplf=ii&ciid=0
If you are interested in sponsoring the event, please feel free to contact us through the website. Thank you for your support in advance.
https://www.forefieldkt.com/kt/htmlnl.aspx?type=fca&id=22&mid=203341&iplf=ii&ciid=0
Hard Dollars vs. Soft Dollars
If something should happen to you or to your spouse, leaving you or him or her without the income they may provide...would you like to pay for the final expenses, maintain your lifestyle, pay for your children(s) education & pay off debt with hard dollars or soft dollars? What is hard dollars? What is soft dollars? If you are not familiar with either, it is really simple. Hard dollars coming from that income that you wake up every morning and provide for the family you adore. Hard dollars are those dollars that you put in the bank, under the pillow. Soft dollars are what you get when you use pennies to buy dollars for life insurance. What I mean, for $500,000 worth of coverage that may cost you $30, $40, $50 per month for a specified period of time can provide that family you adore the necessary funds to pay for those final expenses, lifestlye, making sure your kids end up in college like you and your spouse wanted, & pay off that debt. Those soft dollars will allow your spouse to concentrate on the things that are important if death comes prematurely. Those soft dollars will allow that grief process to be the primary focus while focusing on the children, instead of worrying how to pay the mortgage, the car payment, burial costs, kids' clothes & education costs. Maybe your kids are not college age and attend private school, if I remember correctly, that can be as expensive as college. Let those costs be asorbed by those soft dollars and keep the hard dollars in the bank or under the pillow. Let those soft dollars work for you while you need to focus on you and yours. If you need guidance, please feel free to contact me. If you need more literature, please feel free to contact me. Don't gamble, while your family is the stakes. Let the soft dollars be that piece of mind you and your family deserve. Whether it is term insurance or permanent insurance, being insured is a priority. And the bottomline, soft dollars are cheaper than hard dollars!
Thursday, October 20, 2011
Wednesday, October 19, 2011
Like to receive a Prospects Financial newsletter once a week?
I give you my word, if you would like to receive our newsletter of a particular topic once per week, you will only receive a newsletter once a week.
Email me at prospectsfinancial@gmail.com to sign up. Again, only one email per week about an important topic. Thank you for reading the blogspot...it is growing.
Email me at prospectsfinancial@gmail.com to sign up. Again, only one email per week about an important topic. Thank you for reading the blogspot...it is growing.
Pay off your mortgage or invest?
I tell clients who when they lose a spouse although your insurance policy will allow you to pay off your mortgage, if you don't have the assets built up and can't adjust to one salary instead of two...what good is a home that is paid off if you can't keep the lights on? If you can and the assets and cash are there, then yes.
https://www.foremostadvice.com/pdfservice/ConceptPiece.a16f3f17-aecf-4a39-a475-478ae90b4acd.pdf
https://www.foremostadvice.com/pdfservice/ConceptPiece.a16f3f17-aecf-4a39-a475-478ae90b4acd.pdf
Great time to buy a home
If you are fiscally responsible, it is a great time to buy a house.https://www.foremostadvice.com/pdfservice/17997810192011_093016.TEMPLATEMAST.pdf
Tuesday, October 18, 2011
Monday, October 17, 2011
National Estate Planning Awareness Week
October
17 through October 23, 2011, is National Estate Planning Awareness Week -
October 17, 2011
| ||||
Saturday, October 15, 2011
Are you a physician or business owner? If so, have you not saved the way you should? Unfortunate but common questions physicians & business owners hear.
The
Physician & Business Owner’s Solution: Accelerated Leveraged Planning
Dr. Jones chose a Accelerated
Leveraged Planning program offered to help him/her quickly fund a life insurance policy that would meet the needs of his family. In July of 20, Dr. Jones implemented a $1,200,000 Accelerated Leveraged
Planning program, borrowing the funds in the form of a commercial
loan. The funds from the loan were placed into an indexed universal life insurance product for Dr. Jones’s personal benefit.
Over the subsequent 10 years, the doctor’s practice paid $372,600 in simple interest on the commercial loan, while the life insurance policy is credited $780,286. The death benefit of the policy, $7,478,400, was more than enough to secure a reliable financial future for his wife and children.
Let Jay R. Jones & his team at Prospects Financial show
you your strategy
That will help create peace of mind, while helping maintain
lifestyle
Should something happen.
Dr. Barnett chose a Leveraged Planning
® program offered
by GFD to help him quickly fund a life insurance policy that
would meet the needs of his family. In July of 2002, Dr.
Barnett implemented a $1,200,000 Leveraged Planning
®
program, borrowing the funds from Global One Financial,
Inc. in the form of a commercial loan. The funds from the
loan were placed into an indexed universal life insurance
product for Dr. Barnett’s personal benefit.
Over the subsequent 10 years, the doctor’s practice
paid $372,600 in simple interest on the
commercial loan, while the life insurance policy
credited $780,286. The death benefit of the policy,
$7,478,400, was more than enough to secure a
reliable financial future for his wife and children.
Friday, October 14, 2011
Do you have an old 401k with an old employer? Is the market volatility too much for your situation or liking? Would you like a 6% Bonus on the balance, Prinicple Guarantee, take advantage of the market without the risk? If the answer to one or more is yes, then let's talk!
https://www.foremostadvice.com/pdfservice/ConceptPiece.8e6c944d-4368-4951-9516-227d20b05789.pdfhttps://www.allianzlife.com/IIG/Content/Documents/Forms_And_Marketing_Materials/SalesTools/ASI-338.pdf
Thursday, October 13, 2011
Wednesday, October 12, 2011
Myths created by Dave Ramsey & Suze Orman
If you listen to these two above when you need life insurance & long term care the most, you may not be insurable. They "preach" buy term, not perm (permanent life insurance) because you can do better putting your cash in an investment tool. First of all, what is safer than life insurance? There has never been a life insurance company that couldn't pay its claims. Never. Secondly, there are permanent life insurance policies that only use the cash build up to keep the policy in force & that are guaranteed throughout your 60's & 70's. Example, a client 22 years old has a 10 year term policy paying $23/month every month for ten years, I put in place through a conversion from the term to a permanent Universal Life Product. The client now has $200k of life insurance for the rest of their life and now pays only $34/month. The thinking is what if the client needs term after he 32 (when the 10 year term runs out) & has become uninsurable along the way? That means Mr. Ramsey, he pays an extremely higher premium IF he/she can get the insurance at all.
Along the same lines is their views on Long Term Care Insurance. Tune in anytime & you'll hear, "You don't need Long Term Care Insurance until your in your 60's. Example of why this is not good advice. Mr. & Mrs. Client, that I just recently did an estate plan for listened to this sort of advice. Now in their 70's and uninsurable, the only exposure in the estate plan is due to not getting long term care in their 50's & 60's. So Mr. Ramsey's advice has created an estate planning problem that will addressed if something should happen & LTC is needed.
You see, while their discipline may be good for us all, their advice may not be great for many. They'll say, "he's selling insurance, of course he wants you to listen." I'll say, they are selling stuff too and want you to listen. If you listen to Dave's advice & follow the "buy term instead of perm & invest the rest," you'll be part of the
10% of his listeners that actually do so!
Point is, don't be left without insurance, you don't know what life has in store for you. Don't buy into this mentality, maybe your investments don't do as well as they are projected (they never do). Long Term Care insurance isn't something we think about everyday, but if you need it, you'll think about it every hour.
Along the same lines is their views on Long Term Care Insurance. Tune in anytime & you'll hear, "You don't need Long Term Care Insurance until your in your 60's. Example of why this is not good advice. Mr. & Mrs. Client, that I just recently did an estate plan for listened to this sort of advice. Now in their 70's and uninsurable, the only exposure in the estate plan is due to not getting long term care in their 50's & 60's. So Mr. Ramsey's advice has created an estate planning problem that will addressed if something should happen & LTC is needed.
You see, while their discipline may be good for us all, their advice may not be great for many. They'll say, "he's selling insurance, of course he wants you to listen." I'll say, they are selling stuff too and want you to listen. If you listen to Dave's advice & follow the "buy term instead of perm & invest the rest," you'll be part of the
10% of his listeners that actually do so!
Point is, don't be left without insurance, you don't know what life has in store for you. Don't buy into this mentality, maybe your investments don't do as well as they are projected (they never do). Long Term Care insurance isn't something we think about everyday, but if you need it, you'll think about it every hour.
Tax Free Retirement Plans
Yes, you heard right, Tax Free Retirement Plans for you. If done correctly, Tax Free Retirement Plans could be much more beneficial to you than your 401k. It can work with Accelerated Retirement Savings with Leverage or the plan can be self funded. I have put together a team that can guide you through the process & provide you with peace of mind, while jumping ahead of what it probably take your 401k two lifetimes to accomplish. Contact me to get started or for information as to a free book offer. I would be glad to help you get started, chances are we are licensed in your state.
Check out our Children's Foundation's Website & Support
The Louisville Prospects Foundation founded in 2010 is dedicated to improving the communities we serve through education, the introduction of fiscal responsibility and health & fitness for our youth.
www.louisvilleprospectsfoundation.org
www.louisvilleprospectsfoundation.org
Tuesday, October 11, 2011
Financial Prescription for Medical Professionals
A good portion of what I do is tailored for Medical Professionals. Medical Professionals need shelters and I have strategies to create such shelters.
https://www.foremostadvice.com/pdfservice/ConceptPiece.fec2767a-68bb-4be9-95e3-64dd4a415c57.pdf
https://www.foremostadvice.com/pdfservice/ConceptPiece.fec2767a-68bb-4be9-95e3-64dd4a415c57.pdf
Monday, October 10, 2011
Friday, October 7, 2011
What you need to know about Life Insurance
Check out lifehappens.org; great resource.
http://www.lifehappens.org/pdf/printable-consumer-guide/life-insurance-pcg.pdf
http://www.lifehappens.org/pdf/printable-consumer-guide/life-insurance-pcg.pdf
Nonqualified Deferred Compensation Plans
Something that I specialize in & have the knowledge & experience in establishing for my clients.
https://www.foremostadvice.com/pdfservice/ConceptPiece.df266280-f041-47da-853b-3c7901427a09.pdf
https://www.foremostadvice.com/pdfservice/ConceptPiece.df266280-f041-47da-853b-3c7901427a09.pdf
Thursday, October 6, 2011
Medicare Prescription Drug Coverage
With medicare open enrollment coming Oct. 15th-Dec. 7th let's visit prescription drug coverage.
https://www.foremostadvice.com/pdfservice/ConceptPiece.afbad07e-b970-4ad7-ae98-7bc620bc1c94.pdf
https://www.foremostadvice.com/pdfservice/ConceptPiece.afbad07e-b970-4ad7-ae98-7bc620bc1c94.pdf
Wednesday, October 5, 2011
Large estates, opting out of the estate tax, have until Tuesday, January 17, 2012, to file Form 8939
Large
estates, opting out of the estate tax, have until Tuesday, January 17, 2012, to
file Form 8939
The IRS announced that the estates of persons who died in 2010 will have
until January 17, 2012 (changed from November 15, 2011) to file various required
returns and pay any estate taxes due.
The IRS also announced penalty relief for certain beneficiaries of these estates on their 2010 federal income tax returns.
This relief is designed to give large estates (over $5 million) more time to comply with key tax law changes enacted late last year.
Revised versions of the estate tax forms are now available on IRS.gov, and the carryover basis form will be released this fall.
IR-2011-76 contains additional details.
The IRS also announced penalty relief for certain beneficiaries of these estates on their 2010 federal income tax returns.
This relief is designed to give large estates (over $5 million) more time to comply with key tax law changes enacted late last year.
Revised versions of the estate tax forms are now available on IRS.gov, and the carryover basis form will be released this fall.
IR-2011-76 contains additional details.
Tuesday, October 4, 2011
Life Insurance Riders that Pay for Long Term Care
Although I favor true stand alone Long Term Care policies for my clients, having some protection from exposure is better than none. And this option can/may be less expensive for many who couldn't afford stand alone policies.
https://www.foremostadvice.com/pdfservice/ConceptPiece.a96b2e3f-a34f-442e-90af-1579747a3aee.pdf
https://www.foremostadvice.com/pdfservice/ConceptPiece.a96b2e3f-a34f-442e-90af-1579747a3aee.pdf
Health Care Reform
Since this will be a major topic with the Supreme Court ruling expected soon, let's re-visit the subject:
https://www.foremostadvice.com/pdfservice/17997810042011_153739.TEMPLATEMAST.pdf
https://www.foremostadvice.com/pdfservice/17997810042011_153739.TEMPLATEMAST.pdf
Sunday, October 2, 2011
2nd Annual Bluegrass Spring Classic
http://www.leaguelineup.com/welcome.asp?url=bluegrassevents
We are looking for sponsors for our 2nd Annual Bluegrass Spring Classic April 20th-22nd, 2012 in Louisville, Kentucky. Sponosrships will include advertising on our social media and involvement in AAU basketball which is national exposure for you as well.
We are looking for sponsors for our 2nd Annual Bluegrass Spring Classic April 20th-22nd, 2012 in Louisville, Kentucky. Sponosrships will include advertising on our social media and involvement in AAU basketball which is national exposure for you as well.
Do-It-Yourself Wills & Trusts
For people who want to avoid paying a lawyer & an estate planner to prepare a will & a trust, and do it themselves...it is not what you put in the will or trust that becomes the problem later, it is what you leave out of the documents that is. It has been my experience that the money you pay the right professionals is well worth the cost to prepare a plan & correct documents with the necessary information that will leave your heirs the way you would have intended if something should happen to you.
http://www.palmbeachdailynews.com/business/estate-planners-to-debate-do-it-yourself-wills-1889861.html
http://www.palmbeachdailynews.com/business/estate-planners-to-debate-do-it-yourself-wills-1889861.html
Saturday, October 1, 2011
Charitable Giving
https://www.foremostadvice.com/pdfservice/ConceptPiece.905976e8-ec78-4c53-b673-b5d58a4d5698.pdf
Friday, September 30, 2011
Thursday, September 29, 2011
Medicare Season
Do your part to cut down on Medicare Fraud & help guide the senior citizens in your life to trustworthy sources of information:
http://blogs.smartmoney.com/encore/2011/09/26/4-best-sites-for-medicare-information/
http://blogs.smartmoney.com/encore/2011/09/26/4-best-sites-for-medicare-information/
Unknow Source Quote of Fiscal Responsiblity
There is no formal education for personal finance. Barring the extremely rare exception, personal finance is not taught in high schools, colleges, or even by most parents. How do we typically learn about our finances? Unfortunately, through our own financial mistakes and blunders, which have the potential to set us back before we even had a chance to get started.”
Women & Retirement Planning
https://www.foremostadvice.com/pdfservice/ConceptPiece.a460e814-a51c-4a87-a8ee-9c1e81fbbc30.pdf
Wednesday, September 28, 2011
Tuesday, September 27, 2011
Life Insurance will help with the tax burden for your heirs
Worried about the tax burden you will leave behind to your heirs?
http://www.insurance.com/life-insurance/life-insurance-basics/life-insurance-heirs.html?WT.qs_osrc=fxb-27008110
http://www.insurance.com/life-insurance/life-insurance-basics/life-insurance-heirs.html?WT.qs_osrc=fxb-27008110
Tax advantages of parenthood
Parenthood has tax advantages
http://www.foxbusiness.com/personal-finance/2011/03/30/tax-joys-parenthood/?test=faminc
http://www.foxbusiness.com/personal-finance/2011/03/30/tax-joys-parenthood/?test=faminc
Client Factfinder
This will help you & I discover what needs & what exposure to retirement you may have.
https://www.foremostadvice.com/pdfservice/17997809272011_110006.BBUILDER.pdf
https://www.foremostadvice.com/pdfservice/17997809272011_110006.BBUILDER.pdf
Annuity or CD? That question is a greater than, less than question.
Question is how long do you want to "tie" up your money? Do I want the insurance company's 5% (plus) or do I want the bank's 2% return? What works for you is the best question, let me help with the decision.
http://www.foxbusiness.com/personal-finance/2011/09/15/which-is-better-annuity-or-cd-1271175020/
http://www.foxbusiness.com/personal-finance/2011/09/15/which-is-better-annuity-or-cd-1271175020/
September is life insurance awareness month.
September is Life Insurance Awareness Month. It is important to Lamar Odom, find out why.
http://www.lifehappens.org/lamar-video/
http://www.lifehappens.org/lamar-video/
Irrevocable Life Insurance Trust (ILIT)
Many americans should have a trust established, but many don't. Allow me to show you why...
https://www.foremostadvice.com/pdfservice/ConceptPiece.cc797b5a-c6eb-42b1-8587-fbb3abbc429a.pdf
https://www.foremostadvice.com/pdfservice/ConceptPiece.cc797b5a-c6eb-42b1-8587-fbb3abbc429a.pdf
Monday, September 26, 2011
Subscribe to:
Posts (Atom)