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Modified endowment contract update

February 4, 2019

Over the past few years, many of you have taken advantage of liquid modified endowment contracts as a way to safely grow your money without stock market or interest rate risk. These insurance contracts, which have similar properties to deferred annuities, can be designed without upfront loads or back-end surrender charges and with full liquidity.…

Are Qualified Retirement Plans a Bad Deal for Business Owners?

January 27, 2019

I recently met with two owners of a manufacturing business, who were each contributing approximately $30,000 into their company’s 401(k) plan. They indicated one of the main reasons for setting up their company’s retirement plan was to fund their own retirement on a tax favored basis. Although the owners were each saving almost $10,000 annually…

Protecting your Most Valuable Asset

January 20, 2019

For those who are working full time trying to accumulate wealth, their ability to work and make money is often their most valuable asset. For instance, someone who is 35 and earning $150,000 per year will typically earn almost $10 million dollars by the time they are age 65. This statistic assumes an annual 5…

Should you do a partial Roth IRA conversion?

January 13, 2019

Almost everyone who I meet with has at least some money in an Individual Retirement Account. Conventional wisdom encourages people to save as much as they can into retirement accounts because contributions get a tax deduction and grow tax deferred. However, despite these great tax benefits, ordinary income tax is due on all funds when…

Financial resolutions

January 6, 2019

At the beginning of each year, many people resolve to change their lives for the better. To those who are looking to improve their financial situation, please find some useful recommendations:   Increase your systematic savings: If you are still working and you are trying to achieve financial goals such as retirement, funding college expenses…

Bear market blues

December 30, 2018

If you have been paying attention to your investment accounts, you may have noticed that the stock market has fallen dramatically this quarter. The S&P 500 closed at 2,924 on Oct. 1, and by Christmas it was down to 2,351. This represents an almost 20 percent decrease. Consequently, the value of your investments likely significantly…

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