In this final segment we discuss how to take chunks of money you have saved and create income for life. The younger you start this process the better. The great fiction you hear from financial media is that when you are young you need to be aggressive. This is not based on any fundamentals and not is it true. There is no one-size-fits-all advice. Read More
Build income streams you can access before and after age 59.5. Also have multiple sources of capital you can access without restriction (like you will find in 401k/IRA). This can give you better access to your money to handle the ups and downs of life.
In this segment we also go over specific case studies comparing income streams from defined benefit plans and 401ks to tax free income from indexed universal life insurance plans. Successful professionals are increasingly building alternative income streams they can access before traditional retirement age. Read More
Income planning is not just for retirement. What happens if you want to access your money early and everything you have saved is in a 401k? With the exceptions of emergencies you are stuck until you reach age 59.5 in most cases.
What if you want to go part time or start a business? What if you get laid off and can replace all your income? Having income streams you can access without the government penalties could be a good idea to incorporate in your planning process. Read More
Before the market crashed in 2008, very few in the financial media were recommending take your gains and go. The system doesn’t work that way. Today people are worried about losing what they have gained in the latest recovery.
We will also discuss a recent article: “Why Americans no longer tolerate risk.” This traces the history and development of Wall Street’s favorite tool – the risk tolerance questionnaire. Was it created as a well-researched planning tool or a marketing tool to sell more investments? Read More
Building income streams is the “pension” type concept. Your financial life is much easier if you know 70% or more of your monthly expenses are automatically covered each month. Use safe and protected vehicles to create a lifetime of income with double digit growth potential, no market risk and inflation protection. This short video explains how it’s done.
People have been told they can save money in taxes by maxing out a 401k or Defined Benefit Plan. These plans are not tax savings plans. You still have to pay the taxes in the future when you take out money. High income earners could end up paying more in taxes by waiting. Watch this video to learn how these plans really work.
Your tax bill: $321,050
If you are a successful professional or business owner and your goal is to retire with $100,000 per year in retirement income, this is roughly what you can expect to pay in taxes over the course of your retirement. (Let’s assume you retire at 65 and you or your spouse lives to age 90.)
How can this be your tax bill? Aren’t taxes supposed to be lower when you retire? Read More
Fees and taxes on your retirement accounts can suck away hundreds of thousands of dollars. The impact is much larger than most people realize. This short video gives a quick overview and shows how to you can use indexed life insurance to reduce fees and taxes.
Topics and short clips from our radio shows:
- Indexed life insurance policy costs and charges.
- Setting indexed life up wrong can cost you.
- The costs going in give you tax free income for life.
- Total Time: 2min 8sec