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
Monday, April 25, 2011
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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