THE 1035 EXCHANGE!
I need to have your ear and I need you all to listen up. Especially if you senior or the off spring of a senior son ,daughter or other wise here are the facts and you better listen and listen good.
* 60% of all men turning 65 will need long term care
* 79% of all women turning 65 will need long term care
* MEDICARE DOES NOT PROVIDE FOR LONG TERM CARE
* 52% will need LTC FOR 1 YEAR....THE AVERAGE IS 3-5 YEARS
* 93% of all seniors absolutely prefer to stay at home verses an in care or a assisted living facility
and on and on.......HERE IS THE MOST IMPORTANT NEWS TO SOLVE THE COST OF LTC.
The Best Keep Secret To Have a "No Out of Pocket Cost" Long Term Care Plan exists with no GIMMICKS!!
The IRS APPROVED 1035 EXCHANGE IS THE BEST KEEP SECRET FOR INDIVIDUALS TO HAVE A LONG TERM CARE PLAN WITH "0" OUT OF POCKET COSTS!
Sounds too good to be true? Yours Truly does one every day of the week to the seniors total disbelieve , but true.
The rules are fairly simple. If you have an existing annuity or a life policy (with cash value) you may be able to "exchange or swap" them for a new plan with long term care. In fact, you may even be able to stay in your home and pay a relative or professional nurse ,your choice on who provides the care and the plans pays you directly. Of course, utilizing an assisted living facility of you choice is still eligible.
Today, get the details from me and we will keep our call confidential. Let me end by saying, the fear of running out of money and the high cost of LTC can now be resolved if you have an existing annuity or cash value life insurance plan...........call today..
Mike Tendler 717-300-1455 WATCH THE VIDEO ENTITLTED, "WATCH THIS VIDEO"
info@seigonline.com
Monday, October 3, 2011
Tuesday, September 13, 2011
Mike's Retirement Tips For Dummies....no offense!
•Start saving now: Whether it was procrastination or some bad breaks that kept your savings off track up to this point, it's not too late to get started. Make savings a priority.
•Pay off your mortgage: Even if you are only a few years from retirement with very little savings, one of the best guarantees for comfort in your golden years is to have no mortgage payment. Owning your home can dramatically reduce your living expenses and even allow you to live comfortably on only Social Security and a little savings.
Time the last mortgage payment to coincide with your retirement date, if possible, by paying additional principal on your mortgage payment every month.•Delay Social Security: Putting off collecting Social Security as long as possible (no later than age 70) will provide you with larger benefits. Social Security income is perhaps the best form of retirement income you can receive, because it's inflation adjusted, tax efficient, and guaranteed by the federal government.
The larger your Social Security income, the more comfortable your retirement. Generally, the late retirement saver gains the most advantage by delaying receipt of Social Security income.
•Don’t invest too aggressively: Those who are late in saving for retirement may become too aggressive and “gamble” the little savings they have on a few speculative investments. Even a small nest egg can create a relatively decent sum when invested properly for a few years. The financial investment can come in quite handy when you retire and try to manage on what you have. A speculation or gamble will almost certainly lead to an eventual loss.
•Don’t be too conservative: Late starters may be too conservative, saving their money in cash or investing in money market vehicles. Their fear is that they don't have much, and they want to protect what they do have. The problem with this philosophy is that the little money they have will be eroded over time by inflation. A 50-year-old with $40,000 should invest in roughly the same way someone with $400,000 would invest.
•Utilize as many tax efficient plans as possible: More than ever, being tax efficient is important when you get a late start on your retirement savings. Utilize 401k’s, Roth IRA’s, and Traditional IRA’s to their fullest extent allowed by law.
•Plan to work just a little longer: Putting off retirement even one additional year has a tremendous impact on your retirement savings. The additional time adds not only one more year of retirement contributions, account growth, and delay in collecting Social Security, but also one more year you don't need to live off your savings. The longer you delay retirement, the faster your retirement numbers swing from scary to exciting.
**** A Biggie and the most overlooked
In today's world consider a Universal Life or Whole Life Insurance Policy as a vehicle for tax free wealth transfer and tax free vehicle for Long Term care is grossly under utilized. By utilizing the IRS 1035 EXCHANGE RULE is a great way to increase your estate value by "swapping " an existing life policy or annuity for a new plan and including Long Term Care as a rider. If your lucky and never need to rider the life plan passes tax free and the annuity passes tax deferred but in either case the principle is never adversely effected in down market conditions. I use this strategy whenever possible for new and existing clients. Call me direct to see if you qualify and to discuss any downside that may be present....Mike Tendler 866-345-7372 , direct 717-300 -1455.
•Pay off your mortgage: Even if you are only a few years from retirement with very little savings, one of the best guarantees for comfort in your golden years is to have no mortgage payment. Owning your home can dramatically reduce your living expenses and even allow you to live comfortably on only Social Security and a little savings.
Time the last mortgage payment to coincide with your retirement date, if possible, by paying additional principal on your mortgage payment every month.•Delay Social Security: Putting off collecting Social Security as long as possible (no later than age 70) will provide you with larger benefits. Social Security income is perhaps the best form of retirement income you can receive, because it's inflation adjusted, tax efficient, and guaranteed by the federal government.
The larger your Social Security income, the more comfortable your retirement. Generally, the late retirement saver gains the most advantage by delaying receipt of Social Security income.
•Don’t invest too aggressively: Those who are late in saving for retirement may become too aggressive and “gamble” the little savings they have on a few speculative investments. Even a small nest egg can create a relatively decent sum when invested properly for a few years. The financial investment can come in quite handy when you retire and try to manage on what you have. A speculation or gamble will almost certainly lead to an eventual loss.
•Don’t be too conservative: Late starters may be too conservative, saving their money in cash or investing in money market vehicles. Their fear is that they don't have much, and they want to protect what they do have. The problem with this philosophy is that the little money they have will be eroded over time by inflation. A 50-year-old with $40,000 should invest in roughly the same way someone with $400,000 would invest.
•Utilize as many tax efficient plans as possible: More than ever, being tax efficient is important when you get a late start on your retirement savings. Utilize 401k’s, Roth IRA’s, and Traditional IRA’s to their fullest extent allowed by law.
•Plan to work just a little longer: Putting off retirement even one additional year has a tremendous impact on your retirement savings. The additional time adds not only one more year of retirement contributions, account growth, and delay in collecting Social Security, but also one more year you don't need to live off your savings. The longer you delay retirement, the faster your retirement numbers swing from scary to exciting.
**** A Biggie and the most overlooked
In today's world consider a Universal Life or Whole Life Insurance Policy as a vehicle for tax free wealth transfer and tax free vehicle for Long Term care is grossly under utilized. By utilizing the IRS 1035 EXCHANGE RULE is a great way to increase your estate value by "swapping " an existing life policy or annuity for a new plan and including Long Term Care as a rider. If your lucky and never need to rider the life plan passes tax free and the annuity passes tax deferred but in either case the principle is never adversely effected in down market conditions. I use this strategy whenever possible for new and existing clients. Call me direct to see if you qualify and to discuss any downside that may be present....Mike Tendler 866-345-7372 , direct 717-300 -1455.
Monday, April 25, 2011
Tax Free Retirement is Possible
The best selling book by Patrick Kelly, Tax Free Retirement ia a classic and a must read. The facts are a 401k, IRA, Mutual Funds, CD'S and stocks are either taxable or tax deferred. My definition of "tax deferrd" is a code word for "tax delayed." Tax free investments can be possible in only three ways. Do you know them?
Here goes;
1) Municipal Bonds
2) Roth Ira
3) Life insurance
Yep, life insurance. The old myth of buy term and invest the difference is proven to be bad advise especially after $ 90 billlion of weath in 2010 was wipped out by the markets and have caused seniors to panic. Those TV AND RADIO authorities have preached bad advise when it comes to life insurance. A life insurance contract is considered a "non -qualified" plan and not subject to tax when transfered to a spouse or family member or over- funded by putting money into the contract and withdrawals are tax free.
What if you can have a life contract with a "Roth Ira" rider in the plan so any gains in trading of stocks, mutual funds etc. are tax free? Does that have any interest to you and your family? Plus, the life plan has a 5% quaranteed rate and a 3% floor and a 7.!% five year rate in years 2-til!
For more information -- 717-300-1455
Book Patrick to speak at your meeting or convention by contacting
Mike Tendler, 866-345-7372 or email miketendler@msn.com
Here goes;
1) Municipal Bonds
2) Roth Ira
3) Life insurance
Yep, life insurance. The old myth of buy term and invest the difference is proven to be bad advise especially after $ 90 billlion of weath in 2010 was wipped out by the markets and have caused seniors to panic. Those TV AND RADIO authorities have preached bad advise when it comes to life insurance. A life insurance contract is considered a "non -qualified" plan and not subject to tax when transfered to a spouse or family member or over- funded by putting money into the contract and withdrawals are tax free.
What if you can have a life contract with a "Roth Ira" rider in the plan so any gains in trading of stocks, mutual funds etc. are tax free? Does that have any interest to you and your family? Plus, the life plan has a 5% quaranteed rate and a 3% floor and a 7.!% five year rate in years 2-til!
For more information -- 717-300-1455
Book Patrick to speak at your meeting or convention by contacting
Mike Tendler, 866-345-7372 or email miketendler@msn.com
Tuesday, January 25, 2011
Creating A College Funding Strategy
Saving for college isn't easy, but the earlier you start the better off you'll be. For example if you save $60 a month for 17 years earning 8% per year, you will have over $25,000 by the time college begins!
There are several savings and investment strategies that can help you accrue money for college.
Planning Ideas,
Below are some savings ideas that my help you better prepare for the task of funding your children's college educations.
1.Assess your needs. In order to know how much to save, you need to estimate the future cost of tuition at public and private institutions. With education cost rising an average of over 8% a year for four-year institutions you must save with inflation in mind.
2.Save early and often. The sooner you begin to set aside funds for college, the less you will have to save. Allow your investments to grow along with your child.
3.Set up a systematic savings plan. Try to save monthly or quarterly, just as you would if you were paying off a car or a mortgage.
4.Keep a separate college account. The most popular are custodial accounts. These accounts ease the tax burden by allowing parents to shift some of their assets to the child at the child's lower tax rate.
5.Involve the family. Children are more aware of family finances and accept responsibility when they are involved. It also becomes easier for you if the child is able to contribute to the fund.
Create an incentive program with your child. Offer to match the money the child makes to his own account. Teach him or her to work and help contribute to their fund - they will value their education more.
Wednesday, August 18, 2010
3 Out of 5 Baby Boomers Didn't Save For Retirement
Provided by the Business Insider, August 16, 2010:
News flash! America is rapidly graying, and many Baby Boomers have not saved enough for retirement.
Not only that, but the Baby Boom generation is literally threatening to the US economy, according to WSJ.
Basically the article is a run down of some daunting facts about the failure to save for retirement, the new era of thrift, and what the financial crisis has done to Boomers' saving.
As of 2008, those aged 65-74 were spending 12% less than folks in the same age group did in 2000 (granted, that was a bad year).
And if the stock market and bond markets continue on their current trajectories, then the aged are really in trouble:
At the same time, the return people can hope to earn on their assets has fallen, particularly for those who switch into bonds or annuities to guarantee a fixed income. The average yield on U.S. government, corporate and mortgage bonds stands at about 2.4%, while stock-market valuations suggest a long-term return of about 6%. At those levels of return, some 59% of people aged 56 to 62 will be at risk of not having enough money to cover basic living and health-care costs in retirement, estimates Mr. Van Derhei. If market returns are higher—8.9% for stocks and 6.3% for bonds—the picture isn't a lot better: The percentage at risk falls to about 47%.
So the other question is whether Boomers stick with their low yielding bonds (opting for a return of their money), or reach for stocks (in an attempt to get a return on their money).
Either way, as David Goldman notes, the gist is that boomers are shifting from goods to retirement instruments, and that is what the Journal is recognizing as a threat to the economy.
Mike Tendler, Director of The Tendler Group Design writes...
It doesn't have to be this way I may have a simple wealth creation solutions using a guaranteed rate of return and other formidably
long term or even short term tax deferred strategies .
Let's discuss your situation.........1-717-300-1455
News flash! America is rapidly graying, and many Baby Boomers have not saved enough for retirement.
Not only that, but the Baby Boom generation is literally threatening to the US economy, according to WSJ.
Basically the article is a run down of some daunting facts about the failure to save for retirement, the new era of thrift, and what the financial crisis has done to Boomers' saving.
As of 2008, those aged 65-74 were spending 12% less than folks in the same age group did in 2000 (granted, that was a bad year).
And if the stock market and bond markets continue on their current trajectories, then the aged are really in trouble:
At the same time, the return people can hope to earn on their assets has fallen, particularly for those who switch into bonds or annuities to guarantee a fixed income. The average yield on U.S. government, corporate and mortgage bonds stands at about 2.4%, while stock-market valuations suggest a long-term return of about 6%. At those levels of return, some 59% of people aged 56 to 62 will be at risk of not having enough money to cover basic living and health-care costs in retirement, estimates Mr. Van Derhei. If market returns are higher—8.9% for stocks and 6.3% for bonds—the picture isn't a lot better: The percentage at risk falls to about 47%.
So the other question is whether Boomers stick with their low yielding bonds (opting for a return of their money), or reach for stocks (in an attempt to get a return on their money).
Either way, as David Goldman notes, the gist is that boomers are shifting from goods to retirement instruments, and that is what the Journal is recognizing as a threat to the economy.
Mike Tendler, Director of The Tendler Group Design writes...
It doesn't have to be this way I may have a simple wealth creation solutions using a guaranteed rate of return and other formidably
long term or even short term tax deferred strategies .
Let's discuss your situation.........1-717-300-1455
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