Insight on business, estate planning, finance, life insurance and tax-free retirement.
Wednesday February 1, 2012
It is amazing that the financial media has been able to actually get consumers to buy into the fact that in order to achieve high returns, you must be willing to accept large amounts of risk (aka, your risk tolerance). This is completely the antithesis of what sound financial advise should entail. There is no reason that you should be willing to accept this mindset and gamble with your financial security.
What have we been taught? We have been told to leverage assets, borrow money...
Posted in Equity Indexed UL , Financial Myths , Financial Strategies , Investing , Retirement | Make a Comment
Thursday November 17, 2011
I wanted to re-post this article that I received from Roccy DeFrancesco earlier this week. This article (written by Jim Duggan) does a great job explaining where the estate tax debates are currently and who is (or is not) responsible for changes with the current creation of the Super Committee.
Roccy DeFrancesco, JD, CWPP™, CAPP™, or CMP™
Founder, The Wealth Preservation Institute
269-216-9978
The Super Committee's Not-so-Super...
Posted in Estate Planning , Estate taxes | Make a Comment
Wednesday January 12, 2011
In my opinion, Twitter, in the industry of estate planning, retirement and insurance, is still questionable for a viable means to market services. To me, it is similar to jogging on a treadmill: you may run three miles; however, you haven't gone anywhere.
I have both a personal account (@kylecarlton) and a business account (@carltonfg) which appears to conflict the way most businesses in my industry are utilizing this tool. It appears that most people are mixing their business and...
Posted in Business | Make a Comment
Monday January 10, 2011
"Put not your trust in money, but put your money in trust." Oliver Wendell Holmes
The Revocable Living Trust has been in existence in the United States for well over 200 years (Patrick Henry is said to have drafted the first). Until recent years they have been reserved for the wealthy: the Rockefellers, the Kennedys, the Astors. Even former President George W. Bush has been quoted saying his assets are in a trust. As a method of estate planning, the living trust is...
Posted in Estate Planning , Legal Planning , Living Trust | Make a Comment
Wednesday January 5, 2011
What is the longest distance between two points? In my experience, it's typically a shortcut.
Our society has created a culture that allows instant access to any and all the information we desire. We are self-diagnosing our own medical conditions without going to the doctor, buying life insurance on-line without an agent's advice, preparing our own trust, building our own websites and the list goes on an on. The old cliche, "you get what you pay for" has apparently escaped the minds...
Posted in Business , Estate Planning , Financial Myths , Investing , Legal Planning , Life Insurance , Retirement | Make a Comment
Saturday January 1, 2011
This time every year, people make New Year's resolutions by setting goals to make the impending year their best year ever. Stop smoking, lose weight, finish school, get out of debt, and start a business are some of the most popular each year. In the past I have made lists that consisted of: 100 things to do before I die, how to increase my income, ways to spend more time with the ones I love, and trivial materialistic items to enhance my lifestyle....
Posted in Business , Self Development | Make a Comment
Monday December 27, 2010
Everyone believes that Bernie Madoff has been convicted of running the largest ponzi scheme in history and I would argue otherwise.
A ponzi scheme by definition is a fraudulent investment operation that pays returns to separate investors from their own money or money paid by subsequent investors, rather than from any actual profit earned. The Ponzi scheme usually entices new investors by offering returns other investments cannot guarantee, in the form of short-term returns that...
Posted in Retirement , Social Security | Make a Comment (4)
Monday December 20, 2010
Most married couples never come in contact with the probate until a parent, sibling, or spouse dies which has to be the worst time to get an education on the probate process. We have seen brothers and/or sisters become absolute bitter enemies because of the failure to update wills.
Today, more and more people are becoming aware of the costly time delays of the estate settlement process, mainly the most important part, "Probate." What is...
Posted in Legal Planning , Living Trust , Wills | Make a Comment (2)
Saturday December 18, 2010
This year I have decided I would share some of my favorite books. These are books that I have read, re-read, studied, implemented and believe that they had made a true impact on my business and personal life.
The Heart Mender by Andy Andrews
(From the authors website) In 1942 and 1943, German subs are dispatched to the Gulf of Mexico to sink U.S. vessels carrying goods and fuel. While taking a...
Posted in Business , Self Development | Make a Comment (2)
Wednesday December 15, 2010
How would you feel about investing all of your retirement dollars in the stock market? Most would not like the idea of potentially losing their money while others would believe they could beat the house. Personally, I am not comfortable allowing my hard-earned money to be subject to the rapid fluctuations in today's volatile market. If you were to tell your parents, spouse or friends that you were going to Vegas to play the odds, what would you expect their response to be? I would assume...
Posted in Equity Indexed Annuities , Equity Indexed UL , Financial Strategies , Retirement | Make a Comment
Wednesday November 17, 2010
Often I am asked about the differences between Trust in regards to estate planning. Below I have covered the four most common types of trust.
This trust is for married couples with estates of such size that estate tax avoidance is not the primary goal and the need for more than one credit is not necessary. In the Marital Trust, you do not reap some of the benefits of the A/B/C Trust. This type of trust is appropriate for smaller estates because there are...
Posted in A/B Trust , Estate Planning , Individual Living Trust , Irrevocable Insurance Trust , Legal Planning , Living Trust , Marital Living Trust | Make a Comment
Monday January 11, 2010
“Nothing is so well calculated to produce a death-like torpor in the country as an extended system of taxation and a great national debt,” observed William Cobbett on 1804.
Sadly, history repeats itself today. Our national debt is too high and will have to be repaid by either raising taxes, cutting benefits, or printing money. Current retirement plans are failing and not suitable for most individuals, and while market returns have proven themselves worthy in some past...
Posted in Equity Indexed UL , Estate Planning , Financial Strategies , Retirement , Taxes | Make a Comment
Saturday January 9, 2010
To fully understand the need to potentially modify your current retirement plan, you must understand how national debt, failing retirement plans, and poor ROIs (return on investments) play a predominate role in your financial security.
With the debt at $12.3 trillion and climbing, it is no secret that we are in the middle of an economic catastrophe. As taxpayers, the government has requisitioned us to support the baby boomers' social security, Medicare, and...
Posted in Financial Strategies , Retirement , Taxes | Make a Comment
Monday January 4, 2010
The financial landscape has dramatically changed over the last few years leaving the American public more confused and apprehensive than ever before. We are not even dealing with analysis paralysis as it has become more terrifying then ever to consider various investment options that would ultimately help people reach their financial goals, so people no longer act. With the mainstream financial media claiming that the recession is over and advising consumers not to worry is a slap in the...
Posted in Financial Strategies , Retirement | Make a Comment (1)
Thursday September 10, 2009
September is Life Insurance Awareness month. You heard me: an entire month dedicated to raising the awareness of how life insurance can benefit your family and or business.
LifeHappens.org summed it up best as to why we utilize an entire month to spread the word. "These are unsettling times. Over the past year, almost every pillar of our financial security has been shaken, one by one. The bursting of the real estate bubble, the precipitous decline in the stock market, a rapid...
Posted in Industry News , Life Insurance | Make a Comment
Tuesday June 23, 2009
For most people, the beneficiary designation is one of the easiest questions on a life insurance application. However, there are a few common mistakes we see on a regular basis and your agent may not be aware of how to correctly structure your beneficiary and ownership designations to accomplish your goals.
If you own the life insurance policy, you may face a federal estate tax. Your estate is a compilation of: your investment and retirement...
Posted in Beneficiary Designations , Equity Indexed Annuities , Life Insurance | Make a Comment
Wednesday February 11, 2009
Section 151A has been at the forefront of our discussions for insurance agents and our industry in general for sometime now. Unfortunately for our clients, the bill recently passed on December 17, 2008. Rule 151A intends to classify equity indexed annuities (EIA's) as securities. This ruling will penalize consumers along with the responsible insurance agents that have helped their clients weather a massive financial crisis without the massive loss that most people have...
Posted in Equity Indexed Annuities , Industry News | Make a Comment (3)
Thursday February 5, 2009
Estate planning is the process of accumulation and distribution of an estate to fully encompass the objectives of the estate owner. If you hear the term "estate planning" and believe it is only for the super wealthy, you may be surprised to learn most people have a need for a properly designed estate plan, they just do not know the right questions to ask to get the ball rolling. What everyone does know is the end result they are after. They know what possessions they want to distribute,...
Posted in Estate Planning , Life Insurance | Make a Comment (1)
Tuesday January 20, 2009
With all of the financial market mess everyone has had to endure, is there any single solution that will be provided to address the financial concerns that most people are facing? Unfortunately, no, everyone's situation is different, however, there are financial strategies and products that can assist you with the correct vehicle to navigate through these murky waters. If you are concerned about your investments and just not sure which direction to look, you may want to consider an...
Posted in Equity Indexed Annuities | Make a Comment
Thursday August 14, 2008
Life insurance companies are pushing to sell coverage on-line is going to present a huge problem for consumers. Now, I understand buying car, home-owners, and liability insurance on-line, but not life insurance! For most people the term "life insurance" has several connotations that lead to a very grey area and without professional advise, you may have a false sense of security by being under insured.
If you are looking to purchase life insurance for the first time or you have life...
Posted in Life Insurance | Make a Comment