Traditional financial planning pays much more attention to accumulating assets for retirement than to the reposition and distribution of assets during retirement. It is not surprising since most financial advisors are compensated based on the amount of assets under management. Let us be clear; the reason for savings/investing is to generate future passive income when … Read more
As you are probably aware, traditional financial planning tells you of three sources from which you could generate passive income when you could no longer generate active income for yourself: 1) a pension or defined benefit plan, 2) social security and 3) a defined contribution plan (a 401(k), 403(b) or IRA). Since the late 1970s, Wall Street and … Read more
Although there are different ways to handle policy loans from your banking policies, the process described below provides you greater control and better tracking at tax preparation time from those loans that might have tax implications. You should follow these steps when taking out a policy loan from a banking policy: Contact us and let … Read more
The money stored in your properly-structured whole life insurance contract is guaranteed to grow every year by an increasing amount; in other words, the increase in cash value between years 3 and 4 is larger than the increase between years 2 and 3. So your cash value cannot go down; it is always increasing and … Read more
When you save your money, you have access to all or part of it at any time without penalties, it is not subject to losses, and if saved in the appropriate financial instrument, it grows continuously over time. When you invest your money, you may have to pay penalties and/or taxes to access it at … Read more
The following quote is attributed to Albert Einstein: “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” Understanding the power of compound interest is key to increasing your wealth. To represent graphically how compound interest works, take a piece of paper and … Read more
If you need money to invest, where will the money come from? It will almost always come from your savings account. So why can’t it come from your Banking Policy? It can! Let’s see how you can profit from it. Assume that your brother, who doesn’t have a good credit score, asks you for a … Read more
Margaret Thatcher once said: “The problem with Socialism is that you eventually run out of other people’s money”. As a result of Socialist policies, we are experiencing the worst economic conditions for America’s Middle Class since the 1960s. With high unemployment and underemployment, unfair taxation, and increasing Government intervention in our lives, how can the … Read more
An excerpt from Rabbi Daniel Lapin Blog, Thought Tools Originally Posted on July 29, 2015 by Susan Lapin http://www.rabbidaniellapin.com/blog/category/thought-tools This fellow I know runs a struggling consulting business. The advice he delivers is of high quality–I know because I have consulted with him once or twice. Yet he struggles. He agonizes about his lack of … Read more
It is important to remember that as great as these sites are, (speaking of financial sites) they aren’t a replacement for professional advice. Think about it like this—when you’re sick, you might look up your symptoms online to get an idea of what’s wrong, but you still go to the doctor to get diagnosed and … Read more
