Benefits Of You Owning Permanent Cash Value Life Insurance
Permanent Cash Value Life Insurance is a very unique and flexible financial planning tool to help you and your family to achieve real financial independence. Properly structured and properly funded, Cash Value Life Insurance provides you with these exceptional benefits…
The 4% Rule….
What do you want your “pay rate” to be in retirement? Has your adviser mentioned a safe rate of withdrawal from your portfolio? In the past, withdrawing 5% was considered a safe rate…meaning it would not collapse your portfolio (depleting it faster than it could grow or stay afloat) and leave your heirs without an estate.
Now even 4% is being considered to be too great a withdrawal rate (please Google “safe retirement withdrawal rate”).
These past 16 months of starting my practice have been incredibly difficult and yet, very rewarding. I came to this business as a result of feeling I had no control of my personal economy (money in & money out) nor any cohesive plan for my retirement years. I want to share what I have found…simple economic strategies and solutions that maximize your income in retirement as well as safeguard a legacy for your loved ones…with guarantees in place.
As I have jump-started my education, renewed my certifications, continued to add more licenses, and began to meet with like-minded people…I am even more excited about “spreading the gospel” of strategies that my firm has developed that can greatly impact families’ lives for the better.
Psst…Buddy…what’s it gonna take to put you into an annuity today?
Being that most Americans are both unfamiliar with annuities as well as been told that they are “no good”…it would probably take quite an effort to get you to embrace an annuity. Financial pundits have been very vocal on why they think annuities are a waste of time, but there is a wealth of information that points to the contrary, too much in fact to be overlooked. You may be doing yourself a future financial disservice by buying into the advice of these pundits.
The path to perfection is littered with traps and landmines that could ultimately undermine your success. Some can prevent your business from even getting off a ground. Some can put a prosperous stretch for your business to a screeching halt.
Thankfully, these mistakes are exactly that. Mistakes. Self-inflicted wounds. While they are damaging to your business, you aren’t doomed to repeat them because you can learn to recognize them in hopes to avoid repeating them.
Here are ten mistakes that business owners and sales agents often don’t realize they are making…
Discover how we get our kids (and us!) through the financial sinkhole of upper education costs..the tuition, the books, housing, and the vast array of “other” expenses?
To finish out this National Month College Savings month of October, I offer up my take on the emotional ride that we go on, figuring out the if’s, why’s, and how’s of prepping for the college experience and the costs involved. Let’s get to it:
Insurance policies… premiums, benefits, term, life, and beneficiaries date back hundreds of years (Google maritime insurance) with cash value life insurance in the US dating back to about the time of the civil war. I think it can be safely assumed that these personal policies were largely written by men, were backed by companies owned by men, administered by men, and were bought by men. To give men their fair shake, I also think it that those same policies were bought with spouses in mind. Of course the world was a much different place then.
In the here and now, women are charged more than ever with financially providing for their family as well as protecting them and leaving a legacy. Certainly if a woman is single, widowed, divorced, etc is certainly no reason to not consider protecting herself (and family) via life, health, and diability insurance….especially CV Whole Life.
Why so little? Are they gouging us…leaving us out in the cold…getting one over on us? The simple fact of the matter is that owners of these policies just stop paying the premiums for the policies, effectively allowing them to die on the vine.
That leads us to why…as in why stop paying on a contract that offers protection to your family and loved ones, especially in light of the fact that you felt at the time of starting the policy it made sense, and was the “right” thing to do? That goes counter-intuitive to the possibility that the farther along into your term (10 to 30 years are available), the farther along you are on your life’s journey, possibly needing it now more than ever.
Planning for your eventual “unemployment” takes time and focus. However, many people under-prioritize this and/or bury their heads in the sand. Fact…it’s not going to go away, probably no one is going to step in and do it for you, you are not likely to win the lottery, Social Security funding is waning, you are under-estimating your future medical expenses (or conversely over-estimating what Medicare will pay), and I am pretty certain you are not figuring 4% inflation into your calculations.
Recently I put up a post suggesting people often find excuses to not save/ plan for retirement. Formerly being one of these such people, and still struggling to save, I thought I might address these particular excuses I referenced then. This has been adapted from a very informative article by John Ingrisano. Here goes:
November is the official Long Term Care Awareness month so I wanted to at the very least make note of that and discuss this particular category of personal protection insurance. It is perhaps one of the least utilized tools out there…it can be hard to understand, and even harder to talk about. People have pre-conceived notions about it, how much it costs, how much it pays, and will I even need it. Almost 70% of people over the age of 65 will need long term care at some point. Combine this with the statistic that although 52% percent of people surveyed are concerned about needing it, only 13% actually own it…makes it relevant to us all.