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Most Vets Aren’t Aware of Their VA Benefits - Right on the Money – Part 2 of 5
 
10:31
Sub Headline: It Can Be Difficult to Understand Service Connected and Non-Service-Connected Benefits Synopsis: There are significant benefits for those who have served in the military. Most veterans have little to no knowledge of these government entitlements. The bureaucracy can be overwhelming to engage with, leaving many veterans to simply give up on accessing the system. Watch the interview with elder law attorney, veterans’ benefit specialist and former president of U.S. Senior Vets, Richard Schulze, MBA. Content: There are two classes of “disability” benefits for veterans and their survivors: compensation for service-connected disability or death and pension for non-service-connected disability or death. The Service Connected Disability program is for veterans who suffered injury or death as a direct result of their active duty military service. The compensation amount depends upon the percent of total disability determined by the Veterans Administration. The idea of “compensation” is based on the belief the disability prevents a person, to some degree, from earning a typical market wage. For example, if a veteran is 40 percent disabled due to a service connected injury, the compensation pays a theoretical 40 percent of that veteran’s inability to earn a competitive wage. The Non-Service Connected Disability Pension program provides a pension, rather than direct compensation, that is based on retirement or inability to work. Non-service-connected disabilities are medical conditions that have no relation to active duty military service. This pension program is income-based. A potential applicant can very easily earn too much through Social Security, other retirement benefits, or even investment income to qualify. A key component of this Non-Service Connected Disability Pension is termed “Aid & Attendance.” Regular Aid & Attendance is a provision for reimbursement of certain qualified, otherwise un-reimbursed medical expenses, usually involving long-term care in assisted living communities, in-home care, and in some instances independent living communities. These amounts are the maximum awards. Although the majority of our clients receive the maximum benefit, eligibility depends upon financial qualification. Any type of current disability benefits being paid from the VA (including Death Indemnity Compensation for surviving spouses) are not added to these amounts. Richard Schulze contributed content to this press release. Syndicated financial columnist Steve Savant interviews eldercare attorney, veteran benefit specialist Richard Schulze, MBA. Right on the Money Show is an hour long financial talk distributed to 280 media outlets, social media networks and financial industry portals. (www.rightonthemoneyshow.com) https://youtu.be/PIs3fyh79uQ
Просмотров: 32641 Right On The Money Show
For Most Veterans’ Benefits Are Unknown and Untapped - Right on the Money - Part 5 of 5
 
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Sub Headline: Deserving veterans can go decades without the aid they’ve earned. Synopsis: Substantial benefits available to Veterans, their spouses and widows often go by the wayside due to unfamiliarity. Tax-free aid may be available in addition to their pension, and is designed to cover the expenses of daily living for those who were active duty-only during a declared war. Qualified and knowledgeable retirement professionals can facilitate and even expedite the application process. Watch the interview with JR Witt. Content: Much has been made about United States Veterans not getting all the benefits they so richly deserve for their service. But what many don’t realize is that spouses and widows can also qualify, yet rarely take advantage of certain benefits that stay under the radar. One such benefit is the Aid and Attendance benefit, which can provide up to $22,000 annually as a tax-free pension addition to the qualifying Veteran. Spouses or widows who qualify are eligible for up to $14,000 annually, and couples nearly $25,000. This benefit is for applicants who require the assistance of another person, in the home or external facility, to eat, bathe, dress or receive medication, often known as the activities of daily living. Low utilization of the A&A benefit is attributed to a lack of awareness. Knowledgeable retirement planning specialists who have successfully obtained it for Veterans estimate that 90% of Veterans are initially unaware of its existence. Misperceptions also play a role. Veterans need not have been injured in a war; they only need to have been on active duty during a declared war. And while there’s a means test of income and assets commonly referred to as IVAP (income for VA purposes), many applicants don’t realize the extent to which current medical expenses can reduce the qualifying financial threshold. Applicants must be at least age 65, and complete customary forms. Sadly, Veterans can experience decades of retirement and reach their 80s or 90s before ever applying, again due to unawares. Further, spouses are also uninformed, and the years following a Veteran’s passing can put a widow otherwise deserving of benefits even further out of reach. Unfamiliarity even stretches to advocacy groups. Applicants of any type and/or caregivers may find the process onerous, but help is available through an experienced retirement planning specialist, or online at www.veteranaid.org or by searching at www.benefits.va.gov. Syndicated financial columnist Steve Savant interviews top retirement specialists in their field of expertise. This segment features retirement specialist J.R. Witt. Right on the Money is a financial talk show distributed in daily video press releases to over 280 media outlets and social media networks. (www.rightonthemoneyshow.com) https://youtu.be/1R6dtMVCJZk
Просмотров: 12060 Right On The Money Show
The Truth About Mutual Funds Real Returns After Fees - Right On The Money - Part 4 of 5
 
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Sub Headline: Many investors Appear Unaware of the Fees Associated with Their Funds Synopsis: Ubiquitous in the financial landscape, many investors don’t understand the real returns of mutual funds, and some investors can confuse funds’ diversity with safety. Content: While the popularity and simplicity of mutual funds has made them a nearly default option in many portfolios; their risk can be easily overlooked during the selection process. Additionally, a misunderstanding of basic math can result in a disconnect between an investor’s risk tolerance and the choice of a specific fund among the thousands available. This combination can be particularly troublesome for retirees, who don’t have time to recover from losses, and that carry an oft- presumed safety net through diversity. Mutual funds come in as many sizes and shapes as the investor can imagine, with roots dating to the early 1800s in the Netherlands. Their proliferation in the United States began nearly a century later, and their escalating popularity in the 1980s and 1990s - through companies like Vanguard and Fidelity - made them a popular early investment choice among today’s Baby Boomers, who are retiring in droves and see them as a natural retirement portfolio choice. Watch the interview with retirement income certified professional and investment adviser representative Tripp LeFevre as he discuss the realities of mutual funds. Still, mutual funds’ appropriateness for this life stage can be called into question when investment basics are considered, and here are three that should be part of any discussion or evaluation: 1. The first step in choosing a fund is to determine your tolerance for risk, and then narrow the field accordingly. A fund’s inherent diversity doesn’t insure safety, just a spreading of the risk. Funds considered to be high-growth will have a range of companies, where one that is acceptable to one investor may be intolerable to another. 2. Average returns over time are not actual returns, especially when negative-year returns are considered. An index fund tied to the S&P 500 would have experienced a 37% decline in 2008, and a 26% gain in 2009. Investors applying “mistaken math” might see this as either a 5% - 10% reduction of principal, the result was a more-than 20% reduction, with a $50,000 investment on January 1, 2008 reduced to $39,834 on December 31, 2009. 3. Fees matter, and must be accounted for. Different types of fees that service transactions or the investment advisor can quickly climb to 3% or more, reducing the number of shares, and ultimately impacting account value. While consumers are sensitive to fees, few bother to understand the underlying fee components, many of which can be found in the fund’s prospectus. Similar to other investment options, any inclusion of mutual funds in a retirement portfolio must consider the sequence of returns, which is often mentioned as the most influential aspect of retirement planning, but is just as often overlooked. Investors who take distributions during a bear market, as in 2008 mentioned above, experience a double whammy by selling at a point of reduced value, and then eliminating those share from a future recovery. Whether an investor chooses an index-based fund with relatively lower fees, or a segment-specific fund that often has higher fees due to the everyday involvement of a fund manager, caution rooted in risk tolerance is encouraged, with recognition that mutual funds are not an offset for inevitable market volatility. Syndicated financial columnist Steve Savant interviews retirement income certified professional and investment adviser representative Tripp LeFerve on Navigating Risks in Retirement. Right on the Money is a weekly financial talk show for consumers, distributed as video press releases to 280 media outlets and social media networks nationwide. www.rightonthemoneyshow.com https://youtu.be/XHREkQ2HYRo
Просмотров: 3000 Right On The Money Show
The Hard Facts About Retirement - Right on the Money - Part 2 of 5
 
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Sub Headline: Retirees Face Rude Awakening as Retirement Realities Set in Synopsis: For those near retirement, your accumulated savings accounts and retirement income plans seem like a lot of money. After all, you’ve put in some serious sweat equity over the years to stockpile $104,000—the average accrued retirement account, according to the 2015 Government Accountability Office. Under perfect market conditions, the 4-percent withdrawal rule doesn’t generate much income. A 6-percent payout rate from a guaranteed lifetime income annuity is better, but even with Social Security income, it’s tough to live on. Content: This a rude awakening for baby boomers and a wake-up call to all succeeding generations. Remember, the lump sum you saved is only as good as the maximum income it generates—everything else is secondary. The clock is ticking for most middle-class baby boomers and it’s minutes before midnight. The only real retirement salvation for most boomers may be a decent payout rate from a guaranteed lifetime income annuity. What other investment or saving vehicles can generate predictable income one can’t outlive? That and a HECM home purchase with no mortgage payment and delaying Social Security benefits to age 70 may salvage many boomers from an impoverished lifestyle. The rules for accumulating retirement resources are not the same as the dispensing of them. The real retirement apocalypse is coming during distributions where the immutable math of the sequence of returns and market under performance collide. That coming trainwreck may deplete many retirement plans at some point in a retiree’s 80s, while many baby boomers will live into their 90s. Watch the interview about the sequence of returns with Tom Hegna, popular platform speaker, retirement specialist and best-selling author. Tom has two retirement books entitled, Don’t Worry, Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, “Don’t Worry, Retire Happy.” For all other succeeding generations, this is a wake-up call out of your indifference to your future. You can’t live for today. That’s just some false axiom rooted in a myth. Tomorrow, you’ll wake up and you’ll be age 70 with 30 years to go. The lethargy toward retirement planning is caused by a false sense that when you’re young, time is on your side. Einstein is often quoted, “Compounded interest is the eighth wonder of the world. He who understands it earns it … he who doesn’t … pays it.” But even compounded interest needs time and lots of it, as do you. Paying yourself first and often will determine your lifestyle in retirement and whether they’re golden years or years of regret. In the old agriculture of America, storing up for the winter was a matter of life and death. The harvest had to be adequate enough to supply six months of winter, that’s half the year, every year. Retirement funds need to be adequate enough to supply every year for a minimum of 30 years. Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/avIcYTrdot4
Просмотров: 2842 Right On The Money Show
Guaranteed Annuity Income in Retirement - Right on the Money - Part 4 of 5
 
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This is part four of five taken from the full episode of Right on the Money featuring the Annuity Series. Sub Headline: The Income Strategies Can Really Make a Difference in Retirement Synopsis: Purchasing guaranteed lifetime income with a cost of living adjustment rider (COLA) is growing in popularity among financial advisors to help solve three retirement risks: longevity, inflation and market volatility. Some seniors have elected to purchase “blocks of income” that stagger distribution start dates at critical milestones in retirement. In fact, the government created a Qualified Longevity Annuity Contracts (QLAC) to defer portions of qualified plan required minimum distributions (RMDs) beyond age 70 without a penalty. Guaranteed income in retirement is now the name of the game. Content: Guaranteed lifetime income can be generated from single premium immediate annuities (SPIA) or deferred income annuities (DIA) as well as guaranteed lifetime withdrawal benefit (GLWB) riders attached to an indexed annuity. The inventory of insurance companies who manufacture annuities that offer guaranteed lifetime income is extensive. There are many online annuity boutiques that display these types of annuities. One of these firms is CANNEX. Until you run various scenarios, you don’t know if the SPIA, DIA or GLWB rider wins the day. CANNEX not only displays these types of annuities, but it calculates payout scenarios under life only (one life) and joint-life only (two lives). Payout scenarios can be lifetime, lifetime with 5, 10, 15 or 20 years certain. They can include a cash or installment refund. Watch the interview with popular platform speaker, best-selling author and PBS host Tom Hegna, who talks about annuity distribution options. [URL] As an example: a male and female, both age 70 with a $100,000 deposit are reviewing their monthly payout options based on both their lives. Life only is $524, life only with 10 Years certain is $522 and life only with 20 years certain is $499.1 The stated payout rate for a 70 year old may be 6.29 percent. That’s not to be confused with the actual rate of return, which may be around 3.5 percent based on the annuitant’s life expectancy. But buying blocks of income to fit your retirement timeline is an excellent way to establish, at the very least, a financial floor that addresses your domestic spending requirements throughout your entire retirement. 1 Annuities, Power Point Presentation January 2016 Tom Hegna Syndicated financial columnist and talk show host Steve Savant interviews Tom Hegna, popular platform speaker; best selling author and retirement expert. Tom hosted the PBS Television Special "Don't Worry Retire Happy." The television special was designed after Tom's latest book, "Don't Worry Retire Happy." Tom's first book, "Playchecks and Paychecks" drew critical acclaim from financial advisers and insurance professionals. Right on the Money is a weekly one hour financial talk show for consumers. (www.rightonthemoneyshow.com) https://youtu.be/H6Uzmf6JU9U
Просмотров: 3400 Right On The Money Show
Tax-Deferred Annuities and The Exclusion Ratio - Right on the Money - Part 3 of 5
 
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This is part three of five taken from the full episode of Right on the Money featuring the Annuity Series. Sub Headline: The Tactical Use of Basis in Non-Qualified Annuities Synopsis: Qualified plan distributions are fully taxable as ordinary income at the effective tax bracket of the plan participant. Annuities held inside a qualified plan are subject to the same taxation. However, non-qualified annuities maintain their non-taxable basis, but are subject to the “last in, first out” rule under the 1982 TEFRA regulations, meaning taxable earnings are recognized first and then a tax-free basis. Content: Over time, non-qualified tax deferred annuities can accumulate unencumbered by annual taxation of earnings. The longer the “holding period” the greater the economic leverage of tax deferral. But there may be another tax advantage at distribution if you elect a lifetime payout. TEFRA was a major piece of bi-partisan legislation in 1982. The most significant impact to the law was altering the tax chronology of basis and earnings from a financial product. Before the law, non-qualified distributions of basis were withdrawn first, then gains. It was know as FIFO, first in first out. After the implementation of the law, it changed from FIFO to LIFO, last in first out, i.e., distribution of gains first, basis second. But a curious exception to the 1982 TEFRA regulation on LIFO is the annuity exclusion ratio in lifetime payout scenarios outside a qualified plan, where basis is amortized from the first distribution to your projected mortality. During this period, partial earnings are also distributed with this amortized basis exclusion. So there’s a combination of basis and earnings in the scheduled distributions until basis has been recaptured. Then, the entire distribution amount going forward is taxable at ordinary income at the policy owner’s effective tax bracket. Watch the interview with popular platform speaker, best-selling author and PBS host Tom Hegna, who walks through some of the taxation issues using annuities. [URL] The strategic use of the annuity-exclusion ratio can impact taxation in a given year. Some retirement tacticians use the annuity-exclusion ratio and withdrawals of basis from a non-modified endowment life insurance policy to lower taxes when income is expected to be higher. A financial advisor, who is also a retirement strategist, can help you use both of these tactics to leverage your use of basis. Syndicated financial columnist and talk show host Steve Savant interviews Tom Hegna, popular platform speaker; best selling author and retirement expert. Tom hosted the PBS Television Special "Don't Worry Retire Happy." The television special was designed after Tom's latest book, "Don't Worry Retire Happy." Tom's first book, "Playchecks and Paychecks" drew critical acclaim from financial advisers and insurance professionals. Right on the Money is a weekly one hour financial talk show for consumers. (www.rightonthemoneyshow.com) https://youtu.be/BVmGaD88SxA
Просмотров: 2326 Right On The Money Show
The Top Ten Retiree Risks in Retirement - Right on the Money - Part 3 of 5
 
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Sub Headline: There Are Financial Products and Planning Strategies to Mitigate Retirement Risk Synopsis: Most retirees are either going to spend their money on themselves, give their money to others or do both. But that’s all determined by how much after-tax income you have at the end of the month. You must integrate the right financial products and planning strategies to mitigate as many retirement risks as possible to generate the most net-spendable income during retirement. Content: The number-one risk in retirement is longevity risk, but it’s also a risk multiplier of the remaining nine retirement risks. It exacerbates all the other retirement risks. Watch the interview about the 10 retiree risks with Tom Hegna, popular platform speaker, retirement specialist and best-selling author. Tom has two retirement books entitled, Don’t Worry, Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, “Don’t Worry Retire Happy.” Mortality Risk Death before life expectancy can mitigate all other risks if you’re single. You’re dead and that’s that. But your spouse could feel more than just emotional distress, because your dual income from Social Security will cease and he or she will have one less tax exemption. Bottom line: there will be less income and maybe more tax on it. If both spouses are healthy, life insurance should be considered for the survivor. Market Risk, Withdrawal Rate Risk & Sequence of Return Risks If the history of the market has taught investors anything over the years, it’s that it has ups and downs. Many financial advisors project the 100-year-old Ibbotson mountain chart to point out the overall positive trajectory of the market. That’s OK during accumulation, but the math doesn’t work that way during distributions. The touted 4-percent withdrawal rate hasn’t worked well over the last decade. Most financial advisors have deserted it and are quoting a 2.75- to 3-percent withdrawal rate to be safe. If the premise of a withdrawal rate is based off portfolio earnings, as is the present rule of thumb, then any invasion of principal is forbidden. It would also assume the market doesn’t experience a downturn and neither of these two events effect the sequence of returns, which of course it does. Bottom line: retirees will deplete their retirement resources well before their death. Part of your retirement income strategy should include guaranteed lifetime income you can never outlive. Inflation Risk & Deflation Risk We’re living in the lowest interest rate environment in modern U.S. history. The government controls monetary policy with the Fed and the Treasury Department. The country’s colossal indebtedness and government pension obligations have keep interest rates artificially low. The printing of dollars could trigger inflation that could drive up the cost of commodities. If oil continues to decline, it’s possible the country could experience a deflationary scenario. Bottom line: inflation risk could erode the purchasing power of your retirement dollar. Part of your retirement plan should be in stocks as well as a guaranteed lifetime annuity with a cost-of-living adjustment rider. Taxation Risk and Regulatory Risk The government has the power of taxation and regulatory change. Congress changed the file and suspend provision in Social Security after promising seniors in or near retirement wouldn’t be affected—but they were. So laws can change. But there are tax-advantaged products and strategies that can manage your taxes and leave you with more spendable net income. Bottom line: unless the vast population of the public engages in elections, the government will continue to control the rules and regulations, which means we can only plan under the light of current law. Long-Term Care Risk Medical expenses and assisted living are a given. Some financial advisors say $220,000 over the life of a married couple in retirement is the reality check. Bottom line: retirement planning needs to have long-term care insurance, either in a traditional insurance policy or a hybrid insurance policy. A good financial planner who understands these retirement challenges should be able to design an integrated retirement strategy that can deliver the most money after taxes. Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/XeZJQxMJmQA
Просмотров: 2450 Right On The Money Show
The Four Simple Steps to a Successful Retirement - Right on the Money - Part 5 of 5
 
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Sub Headline: A Simplified Approach to Retirement Synopsis: There are four basic steps to retirement success you need to address to cover the challenges you might face in your golden years. Step One: Cover Your Domestic Expenses. Step Two: Protect Your Portfolio Against Inflation. Step Three: Insure Your Legacy and Giving with Life Insurance. Step Four: Indemnify Yourself Against Elder Care Costs. You’ll need a budget, a risk-tolerance test, a list of family members, a list of favored charities and a plan for assisted home living. Content: Building a basic retirement strategy should include the categories outlined here. They are the simple steps that need addressing. They are chronological, so do them in sequence. Step One: Cover Your Domestic Expenses You and your spouse need to select a budget that outlines your domestic spending and routine trips like visiting the grandchildren or going on church missions. Once you’ve collected all your bills and travel costs, assess them against your Social Security income and corporate or government pension. If there is a short fall, you might need to buy a guaranteed lifetime annuity with a cost-of-living adjustment for you and your spouse to make up the difference. You’ll want a licensed insurance professional familiar with lifetime income annuities to assist you. Step Two: Protect Your Portfolio Against Inflation You and your spouse need to take a risk-tolerance test and share the results with each other. Then, you both need to work at establishing common-ground principals with your portfolio purchases and the mix of your investments. One rule of thumb is to buy equities with returns greater than inflation, with low expense charges and beta risk. It may be prudent to hire a financial advisor experienced in asset allocation to assist you. Step Three: Insure Your Legacy and Giving with Life Insurance You and your spouse need to make a list of family members and charities you desire to help after you’re gone. If you and your spouse are in relatively good health, you should investigate Survivorship Guaranteed Universal Life (SGUL). SGUL can cover both spouses and transfer tax-free death proceeds to your beneficiaries for pennies on the dollar. Then, you can enjoy your retirement knowing your family members and charities are funded. You’ll want to engage a life insurance professional to bid out your policy for the best possible rate. Watch the interview about leveraging life insurance with Tom Hegna, popular platform speaker, retirement specialist and best-selling author. Tom has two retirement books entitled, Don’t Worry, Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, “Don’t Worry Retire Happy.” Step Four: Indemnify Yourself Against Elder Care Costs No retirement strategy can be complete without long-term care coverage. The most expensive costs in retirement are medical and elder care costs. Medicare can take care of the bulk of the medical costs you’ll incur, but you still need elder care coverage. There are conventional long-term care insurance policies as well as hybrid polices attached to life and annuity contracts. Contractual language is important in these policies, so it’s imperative to hire a long-term care specialist. These four steps can be expanded upon to build out a comprehensive retirement strategy, but if additional sophistication becomes necessary, you’ll need a professional financial advisor whose area of expertise addresses all aspects of retirement. Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/X65O9uRxd9A
Просмотров: 3315 Right On The Money Show
Home Equity Line of Credit That Annually Increases - Right on the Money - Part 4 of 5
 
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Sub Headline: The HECM Equity Line of Credit May Be a Retiree’s Personal Bank Synopsis: The Home Equity Conversion Mortgage (HECM) equity line of credit can be used as your own personal lending resource or a retirement back-up cash reserve. The line of credit grows on the remaining unused balance unfettered from the current market value of the home. It could be the emergency resource for a retiree that can deliver instant cash for unseen expenses that come into play during retirement. Content: There are differences between an HECM line of credit and a traditional home equity line of credit (HELOC). In general terms, a HELOC requires you to pay monthly interest payments, the loan value doesn’t grow, the loan account could be closed by the lending institution and it may have a pre-payment penalty not insured by FHA. In contrast, The HECM equity line of credit has no required monthly payments, permits the unused line of credit to increase annually, the line of credit stays open as long as the borrower occupies the home and fulfills the loan requirements, it has no pre-payment penalty and it’s backed by the Federal Housing Administration (FHA). Watch the interview with popular platform speaker, author and leading authority on Home Equity Conversion Programs, Don Graves, as he introduces the reverse mortgage purchase option. As you can see, there are distinct advantages to a HECM line of credit. While most seniors will use it for a retirement cash reserve for necessities, some may open a HECM line of credit as a hedge against the future. In some strategic scenarios, retirees age 62+ may design a combination of the HECM line of credit and the reverse mortgage purchase to eliminate mortgage payments and maintain a line of credit at the same time. The skillful use of this combination strategy can deliver significant flexibility in retirement planning. One popular strategy is to delay taking Social Security to age 70 to maximize its lifetime benefits and use the HECM line of credit to live on during the period preceding age 70. You can elect to pay it back or not. It’s completely at your discretion. Having a line of credit as a financial back stop can really come in handy if your retirement income situation suddenly turns negative. It can bring some psychological solace and confidence to know there’s a cash reserve option as quick as writing a check. Nationally syndicated financial columnist and talk show host Steve Savant interviews popular platform speaker, author and nationally recognized HECM authority Don Graves. Steve and Don talk about the power of HECM strategies in retirement. Right on the Money is a financial talk show for consumers distributed to over 280 media outlets, social media networks and financial industrial web portals. (www.rightonthemoneyshow.com) https://youtu.be/oa8IZqgOQhM
Просмотров: 6248 Right On The Money Show
Don’t Worry Retire Happy - Right on the Money - Entire Episode
 
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Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/8liYCXBIGOs
Просмотров: 3559 Right On The Money Show
Quit Spending Down Your Assets to Qualify for State Protection – Right On the Money – Part 1 of 5
 
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Sub Headline: Your Retirement Dreams May Quickly Regress into a Nightmare Synopsis: No one wants to live in a nursing home with strangers, especially in a state-run facility. To underscore this factoid, you need to see your future now by going on reconnaissance missions to a state-run nursing home well before your 60th birthday. It will be a shock-and-awe experience that will revolutionize your thinking about saving money for elder care. Watch the interview with retirement specialist Steve Bishop. Content: Spending down your money to qualify for government assistance to pay for your elder care is the great rouse of retirement. Burning through assets to qualify for state-run, long-term care is like purchasing a ticket on the Titanic for a basement cabin shared with a stranger. It’s just not worth it to spend down assets as a retirement strategy. If it isn’t spending down assets, it’s hiding assets. Good luck with that. Not surprisingly, in the age of information technology, the government has become quite adept at tracking assets down. The government loves to prosecute illegal activity, especially when taxpayer-funded benefits are involved. Fraud ranks as a big-time priority for federal prosecutors. The next generation of retirees is the baby boomers. Seventy percent of the prior generation used some form of senior care. Boomers have a new challenge to deal with their parents never had: the risk of longevity. With increased longevity, the odds are high, perhaps as high as 85 percent, that boomers will need elder care assistance. Long-term care insurance is an option if you’re healthy enough to qualify for it. Hybrid insurance policies that use life insurance or annuity contracts with long-term care riders are also an option, if the math works—but it doesn’t always work. Self-funding for the affluent and uber-wealthy is a good option for people with money, but not for middle-class or lower-income seniors. One option to consider is called the home equity appreciating line of credit under the Home Equity Conversion Mortgage program for seniors over age 62. The equity line of credit increases annually uncorrelated to the value of your home. If you’re in your retirement home, you could secure an equity line of credit that can serve as a money reserve for elder care home assistance and home retrofitting for geriatric living. If you need elder care assistance or alterations on your home, you can borrow from the appreciating line of credit without paying annual interest or paying off the loan as long as you live in the home as your prime residence. You need to discuss this strategy with a certified HECM loan officer, your financial advisor and your beneficiaries to see if it’s appropriate for your situation. Syndicated financial columnist Steve Savant interviews retirement specialist Steve Bishop. Right on the Money Show is an hour long financial talk distributed to 280 media outlets, social media networks and financial industry portals. (www.rightonthemoneyshow.com) https://youtu.be/-OEDDQdydzg
Просмотров: 2352 Right On The Money Show
Municipal Workers Retirement Plans Provide Distinct Advantages - Right on the Money - Part 5 of 5
 
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Sub Headline: Participants can take early distributions without penalties Synopsis: In a sea of retirement plans that can differ by profession and employer, municipal workers’ retirement plans feature high levels of allowed contributions, and distributions before age 59 ½ are not penalized if the worker remains as employees. Content: Police and fire officials who protect cities and citizens from danger enjoy a bit of protection themselves in the form of uncommon benefits that fall under a Type 457 retirement plan. While similar in nature to primarily self-funded 401(k) plans in corporations, and 403(b) plans in tax-exempt organizations, 457 participants can take penalty-free distributions and have yet another outlet to supplement their retirement plans. Workers afforded these and other distinct benefits can be found servicing communities across the country and include policemen, firemen and utilities like water and sanitation. While teachers can fall under this general umbrella, they more commonly participate in traditional 403(b)’s, despite the more flexible withdrawal aspects of 457s. While all the aforementioned retirement plans allow for contributions from pre-tax earnings, 457s have a distinct benefit related to input and payout. While many employees’ 401(k) contributions are guided by a $6,000 annual limit, municipal employees’ 457 plans allow for up to $18,000, plus an additional $6,000 for workers over 50 years old. These high limits can be especially useful for a two-income households where the 457 participant exercises the discipline for maximum savings and tax deferral, or, when a retiring employee can maximize a last paycheck that may include pay for accumulated sick time or unused vacation hours. The more uncommon feature of a 457 among the retirement landscape is an employee’s ability to take a distribution without penalty before age 59 ½. Distributions are taxed as ordinary income, and participants are not subject to the 10% penalty normally assessed under similar plans’ rules. This effectively allows the 457 to serve as an emergency fund. Holdings in 457 plans typically comprise mutual funds, and exchange traded funds (ETFs) to a lesser degree. Caution is urged as retirement age approaches, and variable annuities can be an appropriate option. By combining proceeds from a 457 plan, a pension, and Social Security accrued from a prior job or industry, retirees can enjoy the stability that comes with three income sources. Financial professionals encourage strong attention to retirement planning during the 10-year window before and after retirement, when requirements become clearer, and critical decisions about distributing the accumulated benefits are made. Syndicated financial columnist Steve Savant interviews top retirement specialists in their field of expertise. In this segment we’re talking to accredited asset management specialist Bill Metejka. Right in the Money is a financial talk show distributed in daily video press releases to over 280 media outlets and social media networks. (www.rightonthemoneyshow.com) https://youtu.be/C_rEFiDK8s8
Просмотров: 1876 Right On The Money Show
Mortality Credits: the Secret Sauce in Lifetime Income Annuities - Right on the Money – Part 4 of 5
 
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Sub Headline: Mortality Credits are the New Alpha of Retirement Income Synopsis: The low interest rate environment affects all financial products that use government debt. Banking institutions, mutual funds and insurance companies are all subject to the whims of the Fed to raise or lower interest rates. But key components of guaranteed lifetime income annuities are mortality credits, which not only are the insurance industry’s secret sauce, but they are also recognized as the new retirement alpha. Content: The insurance industry at-large purchases investment-grade government bonds. So all carriers are fishing out of the same government debenture pool. To the causal observer, it seems odd there’s such a difference in annuity payouts from one company to another. But that difference can be distilled down to one component: mortality credits. Every insurance company has differing experiences in death claims for life insurance policyholders and lifetime annuitants. To understand mortality products like guaranteed lifetime income annuities and life insurance, you need to comprehend the law of large numbers. The insurance industry has trillions of dollars in life insurance in force. If everyone died within a tight time frame, the industry would collapse. But the death-claim experience in America is very low, thus the law of large numbers creates the favorable conditions for insurance companies to offer protection and maintain itself as a profitable entity. With guaranteed lifetime annuity products, the other side of the mortality balance sheet uses the law of large numbers, as well factoring how long the company will pay out monthly benefits. This may be an over simplification, but if the average female annuitant lives to age 89, that means half of them will die before age 89 and half of them will die after age 89. The odds makers, known as actuaries, can assign credits based on their insurance company’s mortality experiences. So a guaranteed lifetime annuity payout is comprised of principal return, interest earned and company assigned mortality credits. Watch the interview on guaranteed lifetime income annuities with Tom Hegna, popular platform speaker, retirement specialist and best-selling author. Tom has two retirement books entitled Don’t Worry, Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, “Don’t Worry, Retire Happy.” Guaranteed lifetime income annuities can impact an overall portfolio performance and take key retirement risks off the table, like living too long and the sequence of returns during retirement distributions. But the real advantage to retirees is guaranteed income they can’t out live. Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/nsy98BuqjKk
Просмотров: 1600 Right On The Money Show
Taxable RMDs May Be Mandatory, but They Can Be Mitigated- Right on the Money – Part 4 of 5
 
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Sub Headline: Managing RMDs Can Serve Several Retirement Purposes & Reduce Taxes Synopsis: Required minimum distributions (RMDs) from qualified plans are mandatory. In fact, non-compliance could cost you 50 percent of the portion that is short the minimum mandatory payout. But even compliant RMDs could be costing you unnecessary taxes by not managing their distributions. Content: Here are a couple of considerations to think about before you address RMDs: RMDs are includable in the provisional income test to determine Social Security benefit taxation and means testing of Medicare. So it’s not just taxes on RMDs—there’s more at stake here. Watch the interview with retirement consultant Bruce Bullock as he discusses a couple of tax-saving options for retirement. There’s a three-prong attack in reducing your tax bill triggered by RMDs: IRA conversions to Roth IRAs, stretch IRAs with spouse and children and Qualified Longevity Annuity Contracts (QLACs). IRA Conversions to Roth IRAs Converting IRAs to Roth IRAs after age 59½ is a tax-arbitrage strategy based on paying less in taxes today than during retirement by eliminating—or at least lowering—your RMDs at age 70½. When you consider converting taxable IRAs to tax-free Roth IRAs, you need to determine your present and future retirement tax bracket and let the math make the call. In a progressive marginal tax system, the goal of conversion is to pay taxes in your current tax bracket and not exceed it. That means you’re going to convert your IRAs over time and before age 70½ (between ages 59½ and 70½.) But that may not be enough to significantly reduce your RMDs. In that case, the next two strategies come into play. Stretch IRAs with Spouse and Children Many IRA owners have benevolent plans for their assets, generally targeting their children and grandchildren. Instead of cashing the IRA in and paying taxes and then giving the proceeds to family, you could split the IRA into two separate IRA accounts naming a child as sole beneficiary of one account. Because there are two separate accounts, each child receives RMDs based on their individual life expectancy. Qualified Longevity Annuity Contracts (QLACs) A QLAC is a relatively new retirement strategy that allows you to defer 25 percent of your RMDs, not to exceed $125,000 ($250,000 for married couples), until age 85 using a lifetime deferred income annuity. These three strategies can be combined to really minimize your taxes on RMDs and may reduce your Social Security taxes and reportable income for Medicare. Syndicated financial columnist Steve Savant interviews retirement consultant Bruce Bullock creating a tax advantaged retirement. Right on the Money is a weekly financial talk show for consumers, distributed as video press releases to 280 media outlets nationwide. (www.rightonthemoneyshow.com) https://youtu.be/9dJdQLZdXr0
Просмотров: 1680 Right On The Money Show
Stabilize Your Asset Allocation Model with Annuities  - Right on the Money - Part 5 of 5
 
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This is part five of five taken from the full episode of Right on the Money featuring the Annuity Series. Sub Headline: Annuities are the Financial Footings of Your Portfolio & Retirement Synopsis: Annuities can be the cornerstone your retirement income and the financial foundation of your portfolio. They can anchor your portfolio during economic uncertainty and market upheavals. Tax-advantaged annuities are the financial footings to a firm foundation in a comprehensive financial strategy. For many consumers looking for some financial stability, annuities may be the answer. Content: Insurance companies offer guaranteed annuity fixed interest rates and guaranteed lifetime income. Presently, the insurance industry is the only industry offering such guarantees. But guaranteed interest rates and income payouts can be dramatically different from company to company, even though they’re fishing out of the same government debenture pool. The discrepancies between companies could be a matter of bond maturities or just superior portfolio management. But the spread in payout rates between companies who sell income annuities is so significant one has to wonder why? The answer: mortality credits—the secret sauce of the insurance industry. Some dare to call it annuity alpha. Insurance is predicated on the law of large numbers. The insurance industry has huge consumer participation in their mortality products, i.e., annuities and life insurance. There’s an estimated 830 life insurance companies currently in the United States. Approximately 62 percent of consumers say they have life insurance,1 and a little more than 7,000 die each day,2 so the risk is spread out over a large population. Some people die sooner, some later than the average. The companies who experience lower mortality generally offer higher mortality credits in their annuities. So the annuity payout in a guaranteed lifetime income scenario has three components to it: principle, interest and the secret sauce of mortality credits. In general terms, tax-deferred, fixed interest rate annuities pay more guaranteed interest than bank certificates of deposit [CDs] with earnings that accumulate tax deferred until you access the policy. Income annuities offer guaranteed income you can’t outlive using single premium immediate annuities (SPIAs), deferred income annuities and guaranteed lifetime withdrawal benefits from indexed annuities. Watch the interview with popular platform speaker, best-selling author and PBS host Tom Hegna, talk about integrating annuities in retirement. [URL] Adding guaranteed fixed interest rate annuities could reduce your overall risk in your portfolio, and using guaranteed lifetime income annuities as your retirement revenue source can cover your domestic spending throughout your golden years. 1 Source: LIMRA’s Life Insurance Barometer Study 2013 2 Source: National Vital Statistical Reports Volume 64, Number 2 (February 16, 2016) Syndicated financial columnist and talk show host Steve Savant interviews Tom Hegna, popular platform speaker; best selling author and retirement expert. Tom hosted the PBS Television Special "Don't Worry Retire Happy." The television special was designed after Tom's latest book, "Don't Worry Retire Happy." Tom's first book, "Playchecks and Paychecks" drew critical acclaim from financial advisers and insurance professionals. Right on the Money is a weekly one hour financial talk show for consumers. (www.rightonthemoneyshow.com) https://youtu.be/lwxFLlpwtkM
Просмотров: 2135 Right On The Money Show
Portfolios’ Diversity Helps Resist Financial Adversity - Right on the Money - Part 2 of 5
 
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Sub Headline: Diversification blends holdings, asset types and risk tolerance. Synopsis: A portfolio’s variety of holdings may not make it diverse. Multiple holdings within a similar sector can create an imbalance susceptible to declines in value. True diversification is characterized by a combination of holdings and asset types across sectors and industries, within one’s risk tolerance. Content: While cultural diversity is a popular topic today, retirement advisers have been advocating financial diversity for generations. In the financial and retirement planning industry, diversification goes beyond the age-old adage of not having all your eggs in one basket; it means decoupling the types of assets within a portfolio that can universally suffer from market volatility. Achieving a diverse portfolio begins with understanding one’s tolerance for risk. This can be found by completing a brief a survey that assesses different scenarios and the collective responses. Risk tolerance tests are available through qualified financial and retirement planners, and cover different circumstances, including one’s comfort level with alternate types of investments; the reaction to an unexpected event, like a layoff; the emotions associated with the word “risk”; and how a surprise inheritance or windfall would be managed. An indexed score is the result, and considers gender, age, marital status, education and income. Risk-averse investors’ portfolios would likely include positions in multiple conservative companies, stocks or mutual funds. These include everyday products like food or household goods that are purchased broadly and repetitively. Risk-prone investors may favor more speculative companies whose performance may be cyclical, such as the technology or science sectors. Diversification can mean different things to different generations. For early-stage investors, it can mean ownership in several companies. For retirement-minded investors, it can mean committing a portion of their portfolio to “safe-money” alternatives. An example is a fixed index annuity that has no direct correlation to stock market performance, and can be relied upon to help cover ongoing expenses after one’s days of active earning have ended. To be financially diverse is to spread resources not only among a variety of companies and instruments (stocks, bonds, funds and insurance products), but also among a range of risk levels, including some where there’s no risk at all. Syndicated financial columnist Steve Savant interviews top retirement specialists in their field of expertise. This segment features retirement specialists Jessica Boehm and Frank Cannon. Right on the Money is a financial talk show distributed in daily video press releases to over 280 media outlets and social media networks. (www.rightonthemoneyshow.com) https://youtu.be/tpNRVUK_VKo
Просмотров: 4943 Right On The Money Show
Guaranteed Lifetime Income Annuity - Right on the Money - Part 4 of 5
 
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Headline: Guaranteed Lifetime Income with Annual Increases Sub Headline: Predictable Streams of Income Uncorrelated to Market Volatility Synopsis: Retirement income plans should have foundational components like guaranteed lifetime income. Social Security benefits generate guaranteed lifetime income. Corporate and government pensions generate guaranteed lifetime income. Deferred Income Annuities (DIAs) and Single Premium Immediate Annuities (SPIAs) generate guaranteed lifetime income. You need guaranteed lifetime income to cover your domestic spending. Content: Often times, consumers parrot some platitude they read in a publication, hear on the radio or see on TV or the Internet. One that has graced the lips of many an uninformed consumer is, “I hate annuities.” They don’t know why they hate annuities, they were just told to hate annuities and so they do. It’s never recommended to echo someone else’s option without collecting the facts. Investigating the claims of any one financial product or planning strategy is a good due diligence process, otherwise it’s buyer beware. An income annuity like a DIA or a SPIA (no fees) can generate monthly income just like Social Security benefits, corporate or government pensions. No one in his or her right mind would send his or her Social Security check back to the government because it pays out like an annuity. No would call the human resources department at their previous employer and say, “Don’t mail me my monthly check because it pays out like an annuity.” If an annuity pays a lifetime income you can’t outlive, who would send the annuity check back to the insurance company. Oh, is that the issue? That insurance companies manufacture those annuities? No other financial institution manufactures guaranteed lifetime income you can’t outlive via an annuity. Watch the interview on guaranteed lifetime income with Tom Hegna, popular platform speaker, retirement specialist and best-selling author. Tom has two retirement books entitled Don’t Worry, Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, “Don’t Worry, Retire Happy.” DIAs and SPIAs also offer a cost-of-living adjustment uncorrelated to the government’s Consumer Price Index or other inflation gauges. Also, keep in mind DIAs and SPIAs have no fees. You purchase the increase at the rate you decide, generally to exceed 5 percent annually. Two years ago, the IRS created a new law to delay portions of required minimum distributions (RMDs) in qualified plans called a Qualified Longevity Annuity Contract (QLAC) that uses DIAs exclusively. Under a QLAC, you can defer up to 25 percent of your RMDs from your qualified plans (not to exceed $125,000) from age 70½ until age 85. One last thought: There are studies that show retirees with guaranteed income are happier in retirement. That’s the happy factor for seniors. Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/1jzDB5VhNU8
Просмотров: 3660 Right On The Money Show
VA Pension Benefits Are the Reward for Service in Retirement - Right on the Money – Part 4 of 5
 
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Sub Headline: VA Non-Service-Connected Benefits for Retirement, Disability & Long-Term Care Synopsis: The Non-Service-Connected Disability Pension program provides a pension, rather than direct compensation, based on retirement or inability to work. Non-service-connected disabilities are medical conditions that have no relation to active duty military service. Watch the interview with elder law attorney, veterans’ benefit specialist and former president of U.S. Senior Vets, Richard Schulze, MBA. Content: This pension program is income-based. A potential applicant can very easily earn too much through Social Security, other retirement benefits or even investment income to qualify. A key component of this Non-Service Connected Disability Pension is termed “Aid & Attendance.” Regular Aid & Attendance is a provision for reimbursement of certain qualified, otherwise un-reimbursed medical expenses, usually involving long-term care in assisted living communities, in-home care and in some instances, independent living communities. These amounts are the maximum awards. Although the majority of applicants receive the maximum benefit, eligibility depends upon financial qualification. Any type of current disability benefits being paid from the VA (including Death Indemnity Compensation for surviving spouses) are not added to these amounts. Aid & Attendance Award For 2015/2016, the maximum Aid & Attendance benefit amounts are: Two Veterans Spouse (both require care) $2,837 per month Married Veteran (veteran requires care) $2,120 per month Married Veteran (spouse requires care) $1,404 per month Single Veteran $1,788 per month Surviving Spouse $1,149 per month A veteran who is currently receiving a Service-Connected Disability compensation can still receive the Non-Service-Connected Disability Pension with Aid & Attendance as long as the Disability Compensation is less than the Air & Attendance Benefit. If eligible, the VA will grant the difference up to the maximum allowable under Aid & Attendance. However, if the Disability Compensation is greater than what he/she is entitled under Aid & Attendance, then no more money is available. If a Surviving Spouse is receiving a Death Indemnity Compensation (DIC), which means the veteran died in service or due to service-connected disabilities, then the surviving spouse could be receiving as much as $1,215 a month. This means the most that would be available under the Non-Service-Connected Disability compensation is an additional $301 for 2013. Richard Schulze contributed content to this press release. Syndicated financial columnist Steve Savant interviews eldercare attorney, veteran benefit specialist Richard Schulze, MBA. Right on the Money Show is an hour long financial talk distributed to 280 media outlets, social media networks and financial industry portals. (www.rightonthemoneyshow.com) https://youtu.be/204Agsubq2k
Просмотров: 5319 Right On The Money Show
The Annuity Alternative - Right on the Money - Part 1 of 5
 
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This is part one of five taken from the full episode of Right on the Money featuring the Annuity Series. Sub Headline: Annuities: What’s the Word on Tax Deferred? Synopsis: Tax-deferred annuities could be an alternative for your portfolio holdings if you’re looking for a tax-advantaged product that delays the annual ordinary income taxation on policy earnings. It also offers multiple crediting methods using fixed interest rates, equity subaccounts and indices both domestic and foreign. Selecting a crediting method is based on your risk tolerance in your financial profile. Content: If your ordinary income tax bracket is high, the odds are so is your capital gains tax bracket (20 percent). In fact, many affluent Americas may be paying as much as 23.8 percent in capital gains because their investment earnings threshold triggers the additional Obamacare surtax (3.8 percent). For high-tax-bracket individuals, there may be a tax arbitrage over time between the annual payment of their capital gains tax and their tax deferral of their ordinary income tax using an annuity. If the arbitrage favors the annuity, then a positive economic value can be applied to the overall net returns during its distribution. Fixed annuities are offering 3 percent guaranteed interest for five years for large deposits. The average bank CD jumbo rate is around 2.25 percent for five years. The fixed annuity pays 75 basis points more than the CD and isn’t taxed during the accumulation period. The tax bracket of the CD or annuity owner dictates the annual ordinary income on the CD and the ordinary income tax on the annuity at the end of the five-year period. The basis point spread between the CD and annuity rate is argument enough, but the delay of ordinary income taxes for five years exhibits the power of deferral. Depending on your risk tolerance, crediting indices or equity subaccounts in a tax-deferred annuity would also enhance the net return over time. Watch the interview with popular platform speaker, best-selling author and PBS host Tom Hegna, who delivers a great introduction into annuities. [URL] Hegna is known to say, “Annuities are older than you think! In A.D. 225, a Roman judge named Ulpianus produced the first-known mortality table for “annua,” which were lifetime stipends made once per year in exchange for a lump-sum payment.” 1 Maybe even older than that! Archeologists reveal the legal codes of Egypt provide evidence an annuity was purchased by a Prince ruling in Sint, in the Middle Empire2, before the Roman Empire, so the concept of an annuity is older than two millennia! 1 Annuities, Power Point Presentation January 2016 Tom Hegna 2 Annuities 101, www.looktowink.com Sheryl J. Moore (dated 02/18/16) Syndicated financial columnist and talk show host Steve Savant interviews Tom Hegna, popular platform speaker; best selling author and retirement expert. Tom hosted the PBS Television Special "Don't Worry Retire Happy." The television special was designed after Tom's latest book, "Don't Worry Retire Happy." Tom's first book, "Playchecks and Paychecks" drew critical acclaim from financial advisers and insurance professionals. Right on the Money is a weekly one hour financial talk show for consumers. (www.rightonthemoneyshow.com) https://youtu.be/LehT7MJWD60
Просмотров: 5229 Right On The Money Show
The Power of Control in Wills and Trust Documents - Right on the Money - Part 4 of 5
 
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Sub Headline: Documenting Your Wishes for Generations to Come Synopsis: One of the largest differences between a will and a trust is a trust must be funded in order to work. Funding the trust is the process of transferring your assets into the name of the trust so the trust becomes the owner. This is how all of your assets are pooled together for easy administration. Without funding, the trust cannot work effectively. Content: In basic terms, a will speaks upon death, meaning you have to wait until you die to benefit from the document. A trust is a living, breathing, flexible document that can help you during your lifetime and last for years after you have passed. With a will, you are not avoiding probate, and you can do no more than determine who gets what when you die. A trust has the ability to provide a streamlined process in administering your estate. Your family will have access to funds quicker, it is a private proceeding because you are avoiding probate, and you don’t have to die to benefit. With a trust, you can maintain control of your estate and your loved ones can have the security knowing your plan is there for them even after you are gone. Watch the interview with estate planning attorney Elizabeth Westby on having a will and the trust documents to protect your assets. There’s seems to be two common situations. The first: people will spend the time and money creating a trust, but they fail to fund it. When you don’t fund the trust, you are forfeiting the benefits. You have essentially spent money and time on an empty vessel. All of the materials were there, but they weren’t activated. The second: someone creates a trust, funds it, but never has it reviewed. Things change throughout our lifetimes, property is bought and sold, assets change, life circumstances shift. If these changes are not reflected in the trust, again you have a partial working plan. If portions are funded and some are not, the ones that are not will still need to be probated. One of the first steps is interviewing estate planning attorneys and selecting one on the basis of confidence, cost and being there for your family in the future. The second step (and this can save you real money) is collecting all your financial documents, retirement accounts, household items, cars, debt and mortgages for easy reference. Listing your assets by title with associated account numbers is a good place to start. Often the harder issues are child guardianship, health care directives and the personal effects of your parents. Most estate planning attorneys have fact finders or asset-collection workbooks to help you organize your life, which will come in handy at your death. Syndicated financial columnist Steve Savant interviews estate-planning attorney Elizabeth Westby on the basics of estate planning, creating a will and installing appropriate trusts. Right on the Money is a weekly financial talk show for consumers, distributed as video press releases to 280 media outlets nationwide. (www.rightonthemoneyshow.com) https://youtu.be/rmSE6pbNArg
Просмотров: 1290 Right On The Money Show
Life Insurance Can Generate Tax-Free Income Via Policy Loans - Right on the Money – Part 3 of 5
 
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Sub Headline: Cash-Value Life Insurance Offers Multiple Crediting Methods Synopsis: Cash-value life insurance has been a supplemental retirement resource and complement to qualified plans for decades. It was used to augment retirement income, so it was looked upon as a secondary-support product. But now, in some planning circles, cash-value life insurance has taken the post-position in the competitive race as a tax-advantaged resource for retirement. Content: First some important caveats: Tax-free policy loans from cash-value life insurance are significant advantages as products, but only if the contract is designed to comply with the TAMRA regulations that allow tax-free policy loans. In addition, the contract must be kept in force for the life of the policy insured. So it’s not a long-term strategy—it’s a lifetime strategy. Watch the interview with retirement consultant Bruce Bullock as he discusses tax-free options for retirement. There are four basic types of cash-value life insurance: participating whole life, universal life, indexed universal life and variable universal life. Each type has its own crediting method, so you need to determine your risk tolerance before selecting the crediting method used in any of these contracts to ensure it suits your financial goals. There are several risk tolerance tests available online, and although they may not be scientific tests, they can reveal a bit of your psychological profile. Participating Whole Life offers policy owners an annual interest-crediting method combined with the return of unused premium under current company practice. The base policy is a guaranteed premium with guaranteed cash values. It can be a very competitive alternative to bonds and suitable for conservative savers. Universal Life offers policy owners an annual interest-rate-crediting method with the current cost of insurance and a contractual guaranteed interest rate and cost of insurance. With the low interest rate environment of the last decade, universal life has fallen out of favor as a cash-value option. Indexed Universal Life offers policy owners domestic and foreign indices that generate interest credited to the savings portion of the account, which can never credit less than zero. But keep in mind there are policy expenses to pay on the debit side of the contract, so you could lose money in a zero-crediting year. Variable Universal Life offers access to the market of equities and bonds through sub-accounts for suitable investors who understand market risk and have other liquidity resources during volatile times. High-tax-bracket investors who are seeking tax advantages may be want to consider this product line. Cash-value life insurance accumulates tax deferred and can generate tax-free distributions via collateralized policy loans as long as the contract is kept in force for the life of policy insured. In general terms, the policy insured should be the family member with the lowest cost of insurance based on their gender and health classification. In most scenarios, the design of the contract purchases the least amount of insurance as a non-modified endowment contract under TAMRA to maximize the cash accumulation and distributions of policy loans. There are loan costs to be aware of in the final analysis when selecting the right contract. At the very least, cash-value life insurance can be a tactical product to support a strategic goal in retirement and as a stand-alone strategy for tax-free income. Syndicated financial columnist Steve Savant interviews retirement consultant Bruce Bullock creating a tax advantaged retirement. Right on the Money is a weekly financial talk show for consumers, distributed as video press releases to 280 media outlets nationwide. (www.rightonthemoneyshow.com) https://youtu.be/usVxA_SxqiA
Просмотров: 2995 Right On The Money Show
Tips for 2016: Beating the Tax Bracket Racket - Right on the Money Part 1 of 5
 
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Tax Planning Now May Pay Off Big at the End of the Year is part one of Money Tips taken from the full episode of Right on the Money. In general, taxable income can be categorized into three basic areas: personal service, portfolio and passive. Certain adjustments can reduce your tax bill through tax deductions, exemptions and credits if you qualify for them. Tax planning at the beginning of the year may pay off big at the end of the year. The United States uses a progressive tax system, meaning as you earn more, you may cross over into a higher tax brackets, known as “bracket bumping.” The goal of tax planning is to remain in the lowest bracket possible and stay away from bracket bumping. As a taxpayer, there are some basic concepts to understand so you and your tax consultant can have an informed conversation. Personal-service income includes salary, bonuses, business income, and for retirees, Social Security benefits (maybe). Portfolio income is generated from dividends, interest, royalties and capital gains or losses. Finally, passive income comes from limited partnerships, rental income and capital gains on passive activities. There are several opportunities to reduce you tax bill by qualifying for certain adjustments. As you get older, you may be subject age-related health issues. So on the medical front, contributing to a medical savings or health savings accounts can offer a tax deduction and free access to pay for legitimate medical expenses. Taxable retirement contributions to IRAs, Keogh and self employed SEP or Simple Plans can have significant impact on reducing taxable income during your working years. It can be even more critical for seniors to understand the tax implications during retirement. If you can afford to delay taking Social Security benefits on the primary breadwinner to age 70 and your qualified retirement income to age 70½, it could really enhance your overall retirement revenue significantly. Another tax strategy to help mitigate the taxation of required minimum distributions from your qualified plan is using Qualified Longevity Annuity Contracts to delay some portion of you required minimum distributions from age 70½ to age 85. You need to consult your financial advisor on the rules of engagement on all these tax-planning tips. For retirees, tax planning is often the difference between living on a tight budget and enjoying a lifestyle with discretionary income. Syndicated financial columnist and talk show Steve Savant interviews Ted Meyer, RFC, IAR on Money Tips for 2016. (Part 1 of 5) www.rightonthemoneyshow.com https://youtu.be/XOzbqrcJ_zQ
Просмотров: 3902 Right On The Money Show
The History of Veterans’ Benefits Dates to the Revolutionary War - Right on the Money –  Part 1 of 5
 
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Synopsis: The United States government began to seriously consolidate services to veterans in 1930. The GI Bill of Rights passed in 1944 had more effect on the American way of life than any other legislation, with the possible exception of the Homestead Act. Watch the interview with elder law attorney, veterans’ benefit specialist and former president of U.S. senior vets, Richard Schulze, MBA. Content: In 1952, the United States Congress passed legislation authorizing benefits for Veterans, and under Title 38 of the United States Code, created the Department of Veterans Affairs as we know it today. The Aid & Attendance benefit increases annually based on the Cost of Living Adjustment Index. Benefit increases were 4.1 percent in 2006, 3 percent in 2007, approximately 4.2 percent in 2008, a little over 4 percent in 2009, no COLA for 2010 and 2011, 1.7 percent for 2013, 1.5 percent for 2014 and 1.5 percent for 2015, with no COLA in 2016. As of 1988, the VA is a cabinet-level position in the government. The VA operates through state-based regional offices. This is where applications for benefits are reviewed and sent for national office review and adjudication. However, the actual VA “intake” mechanism is not a function of the VA itself. Since the 1950s, the VA has used a network of what has now grown to more than 110 agencies that provide Veterans Service Officers or “VSOs”. VSOs are accredited by the VA, but are not employees of the VA. The VA does not operate any local offices. In 2004, the Government Accounting Office (GAO: the investigative arm of Congress) conducted an investigation of the VA and its efficiency. This was essentially a secret, internal report. However, in 2005 the Knight-Ridder News Agency (at that time the largest news organization in the United States) learned of the study and sued under the Freedom of Information Act to obtain a copy. This information led to a series of news articles published in newspapers across the country in early 2005 by Knight-Ridder. The conclusions of the GAO report were startling. The findings of the report indicated that information provided through the VSO network and the VAs 800 number system was “totally, minimally, partially or mostly incorrect” a staggering 80 percent of the time. This meant a potential applicant could expect to receive incorrect information regarding benefit eligibility 8 out of 10 times. CONSEQUENTLY, THE VSO/VA NETWORK TELLS MANY DULLY QUALIFIED APPLICANTS THEY ARE NOT QUALIFIED TO RECEIVE BENEFITS, WHEN THE OPPOSITE IS TRUE. The study also found only 19 percent of the answers provided were “completely correct.” A common theme with inquiries was “rude, dismissive, unprofessional and unhelpful” behavior on the part of those providing information. Unfortunately, the VA has no real means to be proactive. VSOs generally maintain office hours and you see them: by appointment. They typically have no way to get out into the community and educate potential applicants on the benefits they are due. This is why relatively few people know the Aid & Attendance benefit exists and how it can help purchase care. Even the VA’s own website (www.va.gov) contains information that is not entirely true and is misleading. It’s this confusion that causes most of the chaos. Richard Schulze contributed content to this press release. Syndicated financial columnist Steve Savant interviews eldercare attorney, veteran benefit specialist Richard Schulze, MBA. Right on the Money Show is an hour long financial talk distributed to 280 media outlets, social media networks and financial industry portals. (www.rightonthemoneyshow.com) https://youtu.be/zhqFLPikjJc
Просмотров: 1582 Right On The Money Show
The Seven Simple Steps to Retirement Success - Right on the Money - Part 1 of 5
 
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Sub Headline: Most Seniors Need a Track to Run On In Retirement Synopsis: Most people take the time to plan for their 30-day vacation, but don’t take the time to plan for their 30-year retirement. These are baby boomers raised on traditional educational topics like reading, writing and arithmetic, but not much education on budgeting, credit management and retirement planning. Even today, the children of the millennial generation learn under Common Core, but no common curriculum on budgeting, credit cards and retirement. Until financial education is part of the educational process, the seniors of today—and in the future—will need a basic track to run on in retirement. Content: It seems like every social event that involves baby boomers involves little talk of retirement and more conversations about their parents’ elder care and children’s college education. If you don’t have a retirement strategy, consider the talking points of this basic seven-step road map of retirement. This Retirement Strategy: You should interview several financial advisors to help you with your retirement planning because retirement is not a do-it-yourself activity. But if you find yourself unwilling to move forward with the assistance of a professional, at least review the following points. The preamble to a retirement strategy is establishing you and your spouse’s retirement ages. In general terms, most retirees consider retirement age to be age 62 at the earliest. Another preamble point of interest is to establish an age of death for both you and your spouse, based on a life expectancy test. Now you have designed the timeline of you retirement. Consider a Hybrid Retirement Consider working until age 70 to maximize your Social Security benefits and allow your retirement funds to accumulate until the required minimum distribution regulations force you into a withdrawal. Maximize Social Security: Monthly Social Security income starts at age 70. The highest earning breadwinner should delay until then, not only for their own benefit, but also for the benefit of their spouse when the breadwinner dies. Secure Guaranteed Income: There are some options to secure guaranteed income in retirement: − Social Security benefits. − A reverse mortgage, providing it’s suitable for your situation. − A guaranteed lifetime income annuity. − If you have the option to work for a company that offers a defined benefit plan, you may want to consider it. Pensions are few and far between in today’s employment benefits, but they’re out there. Protect Savings from Inflation: There are a couple of options to consider as a solution to future inflation. − Buy a cost of living rider offered with guaranteed lifetime income annuities. − After taking a risk-tolerance test to determine your market risk profile, purchase equities accordingly. − Buy daily living supplies in bulk when they’re on sale. Plan for Elder Care: You can apply for a long-term care insurance policy if you’re healthy enough. If the price tag is too much, consider life insurance and/or annuity policies that offer long-term care riders. The benefits are not as liberal as a stand-alone long-term care policy, but it’s better than nothing at all. If you’re age 62 or older and you own your home, you may consider an appreciating HECM equity line of credit you can tap for assisted home living expenses. Use Home Equity Wisely: The government has provided the Home Equity Conversion Mortgage Program for seniors age 62+. It has three basic options: an appreciating line of credit, the leverage of purchasing a home and generating an income via a reverse mortgage. Watch the interview on the seven simple steps to retirement success with Tom Hegna, popular platform speaker, retirement specialist and best-selling author with two retirement books entitled Don’t Worry, Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, “Don’t Worry, Retire Happy.” Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/UME675IRD2k
Просмотров: 1287 Right On The Money Show
Having a Retirement Plan that Integrates with Social Security  - Right on the Money – Part 2 of 5
 
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Sub Headline: In Retirement Planning, Everything Is Correlated Synopsis: Sir Isaac Newton’s Third Law of Motion has been distilled down to a simple axiom, “to every action there is an equal and opposite reaction.” Money in motion has a similar financial counterpart related to the science of physics. When you receive income, you’ve become the great prime mover. You’ve put money in motion. You’ve initiated a cascading domino effect that may have multiple tax ramifications, especially for Social Security benefits in retirement. Content: You just can’t put money in motion without determining its overall impact on your tax bill. Why? Because in retirement, every dollar matters. It’s surprising most people will plan for a 30-day vacation, but not plan for their 30-year retirement. Learning the basic rules of economic engagement can help you keep more of your hard-earned money. Watch the interview on retirement planning with Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, “Don’t Worry Retire Happy.” The U.S. tax system is the most integrated and convoluted tax trap ever created from the vain imaginations of men. Almost every type of income imaginable is purposely correlated to capture the most tax revenue, especially in retirement. A good retirement course of action is going to manage taxes as a key strategy to put more money in your pocket. Some seniors believe municipal bond income is the way to reduce their tax bill. But with one retiree, the quest for tax-free income from his municipal bond holdings resulted in multiple taxable events. That senior’s portfolio was inordinately rich in municipal bonds. The “psychonomics” revealed his utter hatred for taxes. Sadly, some of his municipal holdings were treated as preference items and triggered the alternative minimum tax. One bond actually appreciated and triggering a capital gain tax. But all of his municipal bond income was includable for Social Security, resulting in an ordinary income tax on his benefits. Everything is correlated. So before you put money in motion, determine the tax ramifications first. Keep in mind almost every form of income is includable in the Social Security provisional income test. As a result, many seniors pay ordinary income tax at the second Social Security tier, but not income from a Roth IRA, reverse mortgage or policy loans from a non-modified endowment life insurance contract. It is conceivable with certain deductions and exemptions, simultaneous income from Social Security benefits, Roth IRAs, a reverse mortgage and policy loans from a non-modified endowment life insurance contract can all be distributed tax-free. That’s money in motion in its most efficient use, i.e., more money in your pocket. Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/LZKj7-QROW8
Просмотров: 1384 Right On The Money Show
Tax Free Retirement Income Sources – Right on the Money –  Part 2 of 5
 
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Sub Headline Paying Less Taxes Could Define A Successful Retirement Synopsis Most seniors and retirement advisers focus on qualified plan monies. But there are non-qualified monies that could make the difference between experiencing retirement prosperity or retirement poverty. Watch the interview with retirement specialist Curt Chojnowski. Content There are basically four tax-free income sources to consider for any retirement plan: HSA Account, Roth IRA, Reverse Mortgage and Cash Value Life Insurance. HSA Accounts are health savings accounts for qualified medical expenses and some premiums like Medicare and Long Term Care. The contributions into a HSA Account are tax deductible, any earnings are tax deferred and tax free distributions, again, for qualified medical expenses. There’s also an additional opportunity to transfer a one-time amount from your IRA to your HSA account tax-free. Roth IRA withdrawals are tax free with a few provisos. There’s no tax deduction for contributions, but earnings in the policy accumulate tax deferred. Roth IRAs can be an option for mutual funds, ETFs and annuities. Cash Value Life Insurance can distribute tax-free policy loans from a TAMRA compliant contract that is kept in force for the life of the policy insured. The basis in the policy can be withdrawn tax free at no cost to the policy owner. There’s no tax deduction for contributions, but earnings in the policy accumulate tax deferred. Reverse Mortgage generates tax-free equity loans from your home as long as you are at least age 62, the home is your primary residence and you remain in the home for the life of the reverse mortgage. (There are maintenance requirements as well.) There’s no interest deduction from a tax point of view. The tax-free income from these sources is not included in the provisional income test from taxation of Social Security benefits. It is conceivable that tax deductions and exemptions could offset Social Security income for some retirees. Add to that the tax-free income sources described above and (under current law) you could design a tax-free retirement. National syndicated financial columnist Steve Savant interviews Curt Chojnowski on the basics of retirement, accelerated benefits and other strategies available to seniors. Right on the Money is a weekly talk interview talk show for consumers. The show segments are distributed nationally to 280 media outlets as daily video press releases. (www.rightonthemoneyshow.com) https://youtu.be/AoiqFjqADjc
Просмотров: 1278 Right On The Money Show
Market Frustrations Inspire Being Your Own Bank - Right on the Money - Part 1 of 5
 
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Sub Headline: Safe-money alternatives put savers in a position to capitalize. Synopsis: Investors are increasingly recognizing the benefits of ready cash sources over hoped-for market gains. Almost ironically, cash value life insurance policies are being purchased to benefit the living, and not create legacy rewards. Content: Just as they might customize their home or wardrobe, investors are creating personalized and private banking systems to meet their unique needs. Increasingly, they’re forsaking the risks and low-or-no returns of traditional stocks and bonds, and are instead accumulating cash value that can both grow and remain accessible through an insurance policy. Nearly a misnomer, cash value life insurance policies are being bought to benefit the living rather than creating a remembrance for beneficiaries. Without some of the typical constraints, cash can be accessed for domestic needs such as a car or home addition. Cash value life insurance policies complement other safe-money vessels like annuities by being a predictable and conservative asset. They help establish a financial foundation and have these characteristics: • Within annual IRS limits (TAMRA), monies deposited into policies can generate tax-free income, and the income does not impact the taxation of Social Security • The policy’s cash basis can be withdrawn tax-free (generally after 15 years.) • The policy’s gains can be borrowed and collateralized by the policy cash values. • Outstanding loans can reduce any ultimate death benefit to be paid. • Unlike IRA or 401(k) accounts, age constraints of 59 ½ for accessibility and 70 ½ for required withdrawals don’t apply. • Loans are subject to interest charges at compettive rates. The most potentially consequential aspect of a cash value life insurance policy is that it must be kept in-force for the life of the policyholder, lest the withdrawals be subject to tax as ordinary gains, which could be substantial. The old saying that cash is king is nowhere more true than for savers who have the discipline to set aside the promises of risk, and remain able to seize timely opportunities. Cash value life insurance is but one way to establish such a safe-money, private banking system. Steve Savant interviews top retirement specialists in their field of expertise. This segment features retirement specialist Dan Thompson Right on the Money is a financial talk show distributed in daily video press releases to over 280 media outlets and social media networks. (www.rightonthemoneyshow.com) https://youtu.be/0VUnqc3ZfVY
Просмотров: 4953 Right On The Money Show
Required Minimum Distributions on Qualified Retirement Plans  - Right on the Money – Part 4 of 5
 
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Here are some highlighted excerpts from the interview with chartered financial consultant, investment advisor representative and author Mark Roberts: Steve: Okay, now one of those issues you manage is RMDs, Requirement and Distributions. You say that the IRS has a kind of a little secret here, but it’s a big one. Talk about that. Mark: RMD stands for Required Minimal Distributions. It is required we take a minimum withdrawal every year from our retirement plans, our IRAs and 401(k)s, every year starting at 70½ for the rest of our life. There is a formula. It is based on two things, age and size. That's all the IRS cares about is, how old are you and how much do you have in IRAs and 401(k) plans. Based on that, the formula will tell us how much we have to withdraw every year. If we don't withdraw the required amount and pay the income taxes, we will have a 50-percent penalty every year on the amount we were supposed to withdraw and don't. Most people continue to save money in 401(k)s and IRAs because they want tax deduction while they are younger. Let it grow, grow, grow, grow, grow, not pay tax, and then boom, they get hit with taxes later and they don't realize it at a time in life when they have less and less tax deductions. Steve: The last seminar I went to this is still a consumer surprise, that if you do not pull out the required minimum distributions you will have up to a 50-percent tax bill. This is still news to seniors. Mark: I find that baffling. Everybody knows the 59½ rule because we've all been under 59½ and if we take a withdrawal we pay tax and a 10-percent penalty. They don't really pay attention to the 70½ and most people know there's something at 70½, but "No, well I'm not 70½ yet, so I'm not going to worry about it." I try to walk clients through the thought process of, let's just say, playing a card game. If you and I were playing a card game I've never played this card game before in my life, you're going to teach me how to play. Who's likely to win, you or me? You would say, you, but after we play this card game 20, 30 times and we've played it two or three hours worth, now who's likely to win? Maybe you, maybe me. I still see you have the advantage because although we both know the rules, you've been playing them longer. Because you've been playing it longer, you've figured out strategies. Strategy to stay with inside the rules to beat me without cheating. Steve: I do want to avoid the 50-percent penalty. It's punitive. Is there anything I can do before 70 ½ to mitigate this issue? Mark: Oh, gosh yes, and we teach that to people all the time. Financial advisors don't talk about this and then people like us, we butt heads with CPAs because the average CPA wants to teach us to save the most amount of tax this year. I'm trying to help people understand the laws so they can save the most amount of tax over the next 10, 20 years of their life. When you're under 70, I don't care if you're in your 40s, 50s, 60s, working or retired. You want to talk to your financial professional about a process of moving money out of the tax-deferred IRAs and 401(k) plans. Start paying a little tax today and then reinvest it over like into Roth IRAs, something that can compound grow tax-free. A Roth IRA is just simply a tax code. It's not an investment. You can invest a Roth IRA the same way you can invest in a traditional IRA. The idea is, spread out your taxes. Right now think of it is, think of it as a farmer. If I'm a farmer and I have a choice to pay my taxes this year, do I want to pay tax at the beginning of the year on my seed, or pay tax at the end of the year on my harvest, what's the lesser tax to pay? I'd rather pay tax at the beginning of the year on my seed. That's not what people are doing. They're putting money away in IRAs and 401(k)s, building up this big old harvest, where they're going to have a big old required minimum distribution every year for the rest of their life, whether they want it, need it or not. They're going to have to pay a lot of income taxes at a time in life later down the road when they have less tax deductions. Watch the interview with chartered financial consultant, investment advisor representative and author Mark Roberts. Syndicated financial columnist Steve Savant interviews author, popular platform speaker and investment adviser representative Mark Roberts. Right on the Money Show is an hour long financial talk distributed to 280 media outlets, social media networks and financial industry portals. (www.rightonthemoneyshow.com) https://youtu.be/wHHMSe74IYw
Просмотров: 1358 Right On The Money Show
Sweat Equity Evaporates in Business Evaluation - Right on the Money - Part 5 of 5
 
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This is part five of five taken from the full episode of Right on the Money featuring the series, Small Business is the Backbone of the American Economy. Sub Headline: There’s Nothing Fair about the Fair Market Value of Your Business Synopsis: If you’re a business owner, you are acquainted with insomnia, 16-hour workdays and no weekends off. You used credit cards and borrowed from family and friends to keep your boat afloat. And just the time you think you’re on the Titanic, your business has its first profitable month. You’ve shed blood, sweat and tears, and now you want to somehow account for that sweat equity in the appreciable value of your business. It’s a good thought, but think again. The fair market value of your business will set the price of the sale. It may seem fair when it doesn’t reflect your sweat equity. Content: The Treasury definition (Reg. Sec. 20.2031-3) lays out the basic premise of the sale: “... the net amount which a willing purchaser ... would pay for the interest to a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.” There’s not one single methodology in the valuation process. The America Society of Appraisers has categorized three valuation methodologies to assess the worth of your business: Income Based, Asset Based and Market Based. The income approach measures benefits coming into the business. The two most commonly used methods are capitalized returns and discounted future returns. The asset approach looks at the underlying net value of the company’s tangible assets. If the business is to be continued after the owner’s death, the fair market value of the assets is commonly used. If the business were to be liquidated, a lower value would be used to compensate for the loss, which generally occurs with the forced sale of assets. The market approach is like valuing residential real estate. The sale house is compared to similar houses, which have recently sold. With the market approach, a search is made for similar companies with publicly traded stock and then the selling price of its shares is adjusted to account for any differences between the two companies. Business valuation is a tedious task for professionals and can be expensive. But there are good reasons to have your business evaluated. When the business is sold, the buyer will want a third-party valuation performed or an attorney to determine the total worth of the business owner’s estate. This is really important when the business is the largest asset in the estate. It’s also necessary for equal distribution of the estate to beneficiaries, some of which have or haven’t worked in the business. Sometimes it’s critical in retirement planning to determine if the exit strategy can fund retirement by itself and occasionally to determine lifetime gifts of the business. Whatever methodologies are used to determine the fair market value, it’s always seems undervalued and unfair to the owner. Syndicated financial columnist and talk show host Steve Savant interviews Caine Nakata, co-business owner and entrepreneur on business planning strategies. Right on the Money is a weekly one-hour financial talk show for consumers.(www.rightonthemoneyshow.com) https://youtu.be/LKEkCgt7zi4
Просмотров: 1161 Right On The Money Show
Cash Value Life Insurance Can Generate Tax-Free Distributions - Right on the Money - Part 5 of 5
 
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Sub Headline: Multiple Savings & Investment Options with Cash Value Life Insurance Synopsis: Cash value life insurance can be a significant asset in retirement income planning because collateralized policy loans are not treated as income, so it’s not includable as income for Social Security benefit taxation. It also can be used for “bridging income strategies,” tax management and tax-free income. The savings and investment options can be tailored to your risk tolerance for product suitability. Content: Cash value life insurance has four basic mortality crediting methods: participating dividends, interest rates, indices and subaccounts correlated to the market. Most crediting methods have some degree of risk, so undergoing a risk-tolerance test to determine your suitability is a vital step in selecting the right mortality chassis. The four basic life insurance contracts are participating whole life, universal life, indexed universal life and variable universal life. Life insurance is, by its very nature, a mortality product designed for indemnification and inheritance planning. But the tax-deferred accumulation of cash values and distributions of tax-free collateralized policy loans deliver a third dimension to planning that can address certain retirement necessities. Watch the interview with financial planner and IRA specialist, Frank Oliver, as he outlines the basics of cash value life insurance during the distribution period of retirement. Cash value life insurance can be used as an income strategy when a retiree seeks to delay their Social Security benefits and qualified plan distributions to age 70½ for maximum income. For some retirees, the combination of Social Security benefit distributions, income from a reverse mortgage and policy loans from a life insurance can generate tax-free income is a strong tax management strategy. (Income from most other sources would be includable in the provisional income test to determine if your Social Security benefits are taxed.) For conservative savers, participating whole life may be the only option from the inventory of life insurance contracts. The top five insurance companies credit a reasonable interest rate without risk. Universal life has fallen out of favor because of its direct correlation to the low-interest environment. Indexed universal life offers domestic and foreign indices with differing investment approaches to generate a crediting interest rate return. It also protects against the downside of the market: zero account crediting in a negative contract period. But the policy still has expenses, so you could lose money. Variable universal life is engaged in market equities and various forms bonds in subaccounts. So it has virtually the same risk and reward of other market-oriented products. The key in using cash value life insurance is to purchase the lowest cost of insurance under the Technical and Miscellaneous Revenue Act (TAMRA) regulations and keep the policy in force for the life of the policy insured. Nationally syndicated financial columnist and talk show host Steve Savant interviews financial planner and IRA expert Frank Oliver on maximizing your retirement dollar. Right on the Money is a weekly financial talk show as a daily video press release Monday through Friday. (www.rightonthemoneyshow.com) https://youtu.be/v6ioyU3nsR4
Просмотров: 3386 Right On The Money Show
The Strategic and Tactical Use of Cash-Value Life Insurance in Retirement  - Right on the Money –
 
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Sub Headline: Life Insurance is Tax-Free and Non-Qualified Monies Synopsis: Most retirees think of their retirement income in terms of their qualified plans, such as defined-benefit plans that work like pensions or defined-contribution plans that work like 401(k)s. But you need non-qualified monies for strategic and tactical planning in retirement to maximize your income and minimize your taxes so you can keep more of your money. Content: Cash-value life insurance is a non-qualified asset and can generate non-reportable income—it can be a retirement plan in itself. But more and more, it’s being used in strategic- and tactical- planning scenarios to generate more net spendable income. Why? Because it’s not what you make, it’s what you can keep that matters most in retirement. Watch the interview with retirement consultant Bruce Bullock as he discusses the uses of tax-free cash-value life insurance for retirement. Cash-value life insurance is not under the jurisdiction of ERISA, so there’s no pre-penalty for accessing your cash before age 59½ or required minimum distributions (RMDs) at age 70½. There are generally no contribution limits, but there may be death benefit justification limitations. But for most retirees, death benefit limitations are generally not an issue. The contributions are not tax-deductible, but the policy earnings grow tax deferred and can be accessed via withdrawals to basis and collateralized policy loans of gain tax-free proviso if that contract is a non-modified endowment contract and kept in force for the life of the policy insured. Collateralized policy loan distributions are not reportable as income, so they are not subject to the provisional income test to determine Social Security benefit taxation. Any remaining balance at the death of the policy insured passes on to the policy beneficiaries tax-free in most estates-transfer situations. Cash-value life insurance can be used as tactical tool in retirement. For instance, seniors who want to retiree at age 62, but want to defer their Social Security to age 70 to maximize their benefits, use their life insurance policy loans as income during that period. Some seniors may also use life insurance policy loans in tandem with their RMDs for more combined income without accessing more of the qualified monies to keep their taxes in check. Policy loans from cash-value life insurance combined with equity home loans and Roth IRAs can potentially generate tax-free income from all three sources and are not includable in the provisional income test to determine Social Security benefit taxation. If managed correctly, all four retirement sources could actually generate a tax-free retirement if no other reportable income is made. That’s a retiree’s ultimate fantasy in their golden years. Syndicated financial columnist Steve Savant interviews retirement consultant Bruce Bullock creating a tax advantaged retirement. Right on the Money is a weekly financial talk show for consumers, distributed as video press releases to 280 media outlets nationwide. (www.rightonthemoneyshow.com) https://youtu.be/7OocVGtfatQ
Просмотров: 1441 Right On The Money Show
Stretch IRAs Can Bequeath a Legacy from One Generation to Another - Right on the Money - Part 2 of 5
 
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Sub Headline: Stretch IRAs Can Be a Significant Wealth-Transfer Strategy Synopsis: Stretch IRAs are a powerful use of annuities inside an IRA that can impact a surviving spouse, children, grandchildren and perhaps even great grandchildren. A living legacy that can generate income and accumulate tax-deferred is a remarkable wealth-transfer strategy. Stretch IRAs have been around for decades, but it should be reintroduced as a retirement and asset transfer option. Content: Legacy planning has generally focused on the most tax-efficient transfer of assets from one party to another within a family. Often, transferring assets requires the engagement attorneys and tax accountants to accomplish the proper trusts and tax strategies. But with Stretch IRAs, a seasoned financial advisor well acquainted with Stretch-IRA scenarios can accomplish wealth transfers with no fees or trust documents. Proper ownership titling is critical in the execution of a Stretch IRA, which is why setting up a Stretch IRA is not a do-it-yourself activity. This tax-advantaged concept can be a great alternative in assigning income streams of needed IRAs and Roth IRAs. From time to time, there’s a degree of distrust transferring assets to an heir who has displayed poor financial decisions in their past. Instead of a lump-sum inheritance, a more piece-meal approach is desired for a spendthrift in the family or because of the age of a child. Using a Stretch IRA strategy can amortize an asset by generated distributions scheduled over time, benchmarked to the life expectancy of the beneficiary. The longer the life expectancy, the lower the mandatory required minimum distributions (RMDs). The lower the distributions, the lower the ordinary tax liability. Using children or grandchildren in Stretch IRAs could conceivably create decades of income, perhaps even a century for young children. Watch the interview with financial planner and IRA specialist Frank Oliver, as he lays out the basics of Stretch IRAs during the distribution period of retirement. One of the funding vehicles for a Stretch IRA is a deferred income annuity (DIA). These annuities have recently become popular with the advent of Qualified Longevity Annuity Contracts (QLACs) where qualified plans can delay up to 25 percent of distributions to age 85 not to exceed $125,000. DIAs were designed to be guaranteed lifetime income you can’t outlive. Using DIAs inside a Stretch IRA can be purchased in blocks of income for targeted beneficiaries over generations. It’s an excellent income-management strategy for inheritance and tax planning. (A financial advisor with an understanding of Stretch IRAs can dramatically enhance your IRA’s economic leverage from one generation to another.) Nationally syndicated financial columnist and talk show host Steve Savant interviews financial planner and IRA expert Frank Oliver on maximizing your retirement dollar. Right on the Money is a weekly financial talk show as a daily video press release Monday through Friday. (www.rightonthemoneyshow.com) https://youtu.be/gk49iclheFk
Просмотров: 970 Right On The Money Show
Consumers Struggle to Grasp PPO, HMO & HSA Under Obamacare – Right on the Money – Part 2 of 5
 
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Sub Headline: Understanding Your Plan Choice to Make Smarter Health Plan Decisions Synopsis: The health insurance industry is chock full of acronyms very few consumers actually understand. Too often, consumers are too focused on bottom line costs while not fully understanding network terminology, like PPO, HMO or HSA. This creates another obstacle for health insurance consumers—they don’t understand terminology or have enough information to differentiate plans and networks, so they purchase plans that don’t adequately meet their needs. Content: PPO, HMO, HSA…what does ANY of this actually mean? We all know the law requires us to have health insurance, but too often we, as consumers, make some of our most important decisions based on bottom-dollar costs without taking into consideration some of the most important factors. Often, we’re looking at whether or not a plan includes copays for services such as doctor visits and prescriptions, or how high the deductible is, while overlooking a vitally important piece of the puzzle—the network a plan utilizes. Typically, the lowest-cost plans utilize “HMO” networks. HMO stands for “Health Maintenance Organization.” Generally speaking, HMO’s will offer more restricted access to the healthcare system. Quite often, you’ll find many of the top-rated hospitals in your area do not accept HMO plans, or accept very few. Your list of “in-network” physicians will also generally be significantly smaller than you typically see with PPO plans (which we’ll touch on here as well). With an HMO, you must designate a “gatekeeper” physician to be your point of contact for all your healthcare needs. If you require medical attention for something beyond the scope of your gatekeeper’s area of expertise, you must get their referral in order to see a specialist or any other healthcare provider. HMO plans, as a rule of thumb, do not provide any coverage for services provided by a healthcare provider outside of the HMO network. The importance of this fact cannot be understated. PPO’s are inherently different. PPO stands for “Preferred Provider Organization” and generally does provide coverage for services received by providers outside of the PPO network. While the cost of services provided by a provider outside of the PPO network is often much higher, your access to hospitals, doctors and other facilities is typically much broader, giving someone who is insured under a PPO more freedom to choose their providers. These are the two types of network arrangements we see in the health insurance market, and then, from them, we have different plan types, such as HSA Qualified High Deductible Health Plans, or “HDHP’s”. These HSA qualified HDHP’s can utilize either an HMO network or a PPO network. In order to be deemed as a “qualified” plan, the health insurance plan cannot not have copays for doctor visits, prescriptions or anything else prior to the deductible being met. In other words, if you go to the doctor for an illness, and the cost of whatever that doctor did to treat you was $200, then $200 is what you’ll have to pay. However, the benefit of a qualified HDHP with an HSA is the HSA itself. HSA stands for “Health Savings Account.” Think of it as a bank account you’re allowed to have in conjunction with a qualified HDHP, in which you, your employer or both of you may contribute money to, up to an IRS-specified cap. Any amount you personally contribute to this account (in other words, not your employer) becomes tax deductible on your personal income tax return the following year, and more importantly, as long as you use this money for qualified medical expenses, you never pay taxes on the money you contribute to the HSA. Watch the video interview with industry insurance expert and contributing author on different types of plans and networks, Kathy Garza. She provides clarity for those of us who are confused by health insurance acronyms and terminology, thus helping us gain understanding so we can make more-informed consumer choices regarding the health plans we purchase. Nationally syndicated financial columnist Steve Savant interviews employee benefit specialist Kathy Garza on the Obamacare Update. Right on the Money is a weekly one-hour online broadcast for TV and radio distribution. The show contains five ten-minute segments that are redistributed online as individual video press releases. (www.rightonthemoneyshow.com) https://youtu.be/mxAZYgapZlY
Просмотров: 2124 Right On The Money Show
End-of-Life Planning Can Empower You to Dictate from the Grave - Right on the Money - Part 1 of 5
 
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Sub Headline: Dispersing Your Assets As You See Fit and to Whom You Want Synopsis: Most Americans have lived a life of self-determination in their pursuit of happiness. They’ve imposed their will in everyday decisions. So it’s a cultural curiosity most Americans live without a will or the protection of their assets through the use of trusts. The fact is, without a written will or trust document, someone else will control your assets, child guardianship and health directives. Content: End-of-life planning is an issue of asserting your will and controlling the dispersion of your assets in the most economical way possible. Handing it over to the decision-making process of the state or the court—where the intervention of professionals, who are strangers in control the disposition of your assets, child custody of minors or health care directives if you’re incapacitated—is a frightening prospect. Watch the interview with estate planning attorney Elizabeth Westby on the importance of end-of-life planning. Dying without a will and asset trust protection can inadvertently hurt relationships between family and friends. It can eliminate ongoing gifts and contributions to charities you desire to go into perpetuity. It can leave the state with the awesome power of heath directives in case of incapacitation. With a well-laid plan, you can dictate from the grave your desires and secure confidence knowing you’ve anticipated the vast majority of end-of-life items and avoided most of the contested issues that plague those without a will and trust documents. End-of-life planning sends a set of expectations to beneficiaries that asset distribution and child guardianship has been predetermined. It takes away the often-painful decision-making process of health care conversations about ending life with dignity. The baby boomers have been called the sandwich generation as they oversee the care for their parents and the college tuition for their children, and sometimes act as guardians for their grandchildren. Many boomers have sacrificed their own retirement stability by funding the preceding and succeeding generations. Most of them do not have a retirement strategy and even more do not have an end-of-life plan that maps out the transfer of their assets to their beneficiaries. Even financial advisors, who quarterback their clients’ finances, are now teaming up with estate planning attorneys to address the proper transfer of assets and health directives. Assembling a team of professionals is the first step in taking responsibility and control of your future as well as the future of your family, friends and charities. Syndicated financial columnist Steve Savant interviews estate-planning attorney Elizabeth Westby on the basics of estate planning, creating a will and installing appropriate trusts. Right on the Money is a weekly financial talk show for consumers, distributed as video press releases to 280 media outlets nationwide. (www.rightonthemoneyshow.com) https://youtu.be/YPzk7t-6Vo0
Просмотров: 778 Right On The Money Show
Medicare Part D Provides Prescription Drug Coverage - Right on the Money - Part 3 of 5
 
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Subhead Cost in Drug Plans with Medicare Part D Varies From State to State Synopsis As an eligible Medicare beneficiary, you must select a drug plan and pay a monthly premium to receive the coverage, known as Medicare Part D. Drug plans vary by state and may offer extra benefits such as no deductible, higher coverage limits or cover additional drugs. Content Medicare Part D provides insurance coverage for prescription medications and is an important part of Medicare to consider if you’re eligible. It helps cover the “donut hole” opening you may have with traditional Medicare plans. You might need coverage for cholesterol and high blood pressure prescriptions—this is where Medicare Part D comes in. Under this particular program, insurance companies and other private firms contract with Medicare to provide prescription drug benefits to Medicare beneficiaries like you. How do you get a plan? You first must join a plan run by an insurance company or other private company approved by Medicare. Each plan can vary in cost and drugs covered. When choosing Part D coverage, there are a multitude of factors to consider: − Timing of enrollment. − Potential of penalties incurred for late enrollment. − The option to change plans. − Current prescription coverage. − Medication coverage. − Out-of-pocket costs. − Pharmacy convenience. − Future health changes. Watch the interview on the basics of Medicare with Curt Chojnowski, Principal at Executive Benefits Group and Medicare specialist. Curt has more than 20 years of experience in the industry and focuses on the ins and outs of Medicare coverage. If you already have prescription drug coverage, compare your current coverage with that provided through a Medicare plan. You want the most effective and efficient plan available, because as a senior, you need to keep as many dollars in your pocket as possible. The process of making decisions concerning health care insurance can be overwhelming and cause you confusion because of the plethora of providers and variances from state to state. It’s imperative to seek the help of a financial or insurance professional to ensure you’re on the right track for your situation and to maximize your retirement income dollars. National syndicated financial columnist Steve Savant interviews Curt Chojnowski on the basics of Medicare and the strategies available to seniors. Right on the Money is a weekly talk interview talk show for consumers. The show segments are distributed nationally as daily video press releases. (www.rightonthemoneyshow.com) https://youtu.be/k1GcFfFUQpA
Просмотров: 1157 Right On The Money Show
Reverse Mortgage for Home Purchase Could Be the Next Big Thing - Right on the Money - Part 3 of 5
 
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Sub Headline: Using Home Equity to Eliminate Mortgage Payments Synopsis: Many seniors are looking for the ideal retirement home to enjoy their golden years. However, many have budget constraints that eliminate their dream home. But, a little-known strategy in the Home Equity Conversion Mortgage Program (HECM) may be able to make senior dreams come true. Reverse mortgage purchase may be the strategy to help purchase your retirement home. Content: A reverse mortgage purchase can help you buy your retirement home. There are a couple of options in this strategy, but the most popular one is paying half the value of the home in cash and never having a mortgage payment. You still have a government-insured mortgage, just not a mortgage payment. For full disclosure, you still have to pay property taxes and homeowners insurance. This is a significant opportunity for those ages 62+ to buy their dream home. You could purchase a home of greater value, but that program assistance stops at the maximum claim set by the government each year. Watch the interview with popular platform speaker, author and leading authority on Home Equity Conversion Programs, Don Graves, as he introduces the reverse mortgage purchase option. It’s important to review this strategy with your retirement advisor and a HECM loan specialist to confirm if this is suitable for your retirement income goals. Many baby boomers prefer not to maintain a mortgage payment in retirement. But it’s been tough for boomers to pay off their mortgage while helping out with their parents’ elder care and their children’s college tuition. But if this strategy turns out to be suitable, it can create cash flow by eliminating mortgage payments and freeing up cash once destined to pay off a new home. If you’re nearing retirement, this is the time to buckle down on spending and start socking away serious money for the cash down payment necessary if this strategy is going to be the centerpiece of your retirement plan. There are other secondary retirement strategies you can incorporate with the reverse home purchase option that has the potential to maximize your money for retirement. Nationally syndicated financial columnist and talk show host Steve Savant interviews popular platform speaker, author and nationally recognized HECM authority Don Graves. Steve and Don talk about the power of HECM strategies in retirement. Right on the Money is a financial talk show for consumers distributed to over 280 media outlets, social media networks and financial industrial web portals. (www.rightonthemoneyshow.com) https://youtu.be/fkSTJLJ4KQI
Просмотров: 2021 Right On The Money Show
Retirement Solutions for Life  - Right on the Money - Entire Episode
 
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Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/GRlRwqyxs8g
Просмотров: 1016 Right On The Money Show
The Futility of Unfocused Business Goals - Right on the Money - Part 2 of 5
 
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This is part two of five taken from the full episode of Right on the Money featuring the series, Small Business is the Backbone of the American Economy. Sub Headline: You Can’t Hit Goals When You Don’t See What You’re Aiming At Synopsis: Thousands of small businesses fail every month due to a lack of vision. It isn’t that they haven’t had an economic epiphany or inspired apparition. They just don’t see right. Many have experienced rogue thoughts that fire the imagination of ideas and invention. Indeed, many businesses are conceived in such moments of passion. But revelation in and of itself is never enough for a successful start up to gain traction. A business owner needs to determine if they’re seeing the world as it really is; seeing their market in its reality is entirely a matter of focus. Content: It seems as you grow older, an annual eye exam is necessary to maintain correct vision, not only for reading, but also for viewing objects far away. It’s difficult to aim at the future, when it looks blurry from a distance. For most of us who need corrective lens, it’s virtually impossible to aim line of sight and hit the target without wearing our glasses or contacts. Lens crafting may be a science, but how the optometrist arrives at the prescription is more like trial and error. Even in the 21st century, the technology to establish your eye prescription is based on battery of questions dependent on the patient’s answer as they see it. But what if the patient’s wrong? Business surveys often are formatted in questions created to reveal if we understand the marketplace where we offer our products and services. Until you see clearly, you can’t hit your target goals. You just keep aiming at benchmarks and missing them. More than likely, you don’t have the right view and that’s why you keep missing the mark. Working with the right focus can substantially increase your ability to see what you’re aiming at and hit it. At first, you may only be celebrating the fact you landed on the outer parameter of the target. But as you get use to using the right focus, you begin to hit the bull’s eye more often. One day, there was a boy in the park shooting his BB gun at a target. He was frustrated because he couldn’t hit the target. A bystander watching him from afar suggested he move the target closer and much to the young man’s delight, he began hitting the target. The BB gun was just not powerful enough to hit the target at that distance. But the boy just couldn’t see it. Like many businesses, the target is so far out into the future, you can’t know if you’re hitting it. A CO2 cartridge rifle with metal BBs could have accomplished the original goal, but the boy could only afford the BB gun that shot plastic BBs. You have to adjust your target goals based on the tools you have at your disposal. Just remember, everyone using binoculars has to use the thumbscrew focus wheel to arrive at a sharpest view for the greatest clarity. Syndicated financial columnist and talk show host Steve Savant interviews Jasmyn Nakata, co-business owner and entrepreneur on business planning strategies. Right on the Money is a weekly one-hour financial talk show for consumers. (www.rightonthemoneyshow.com) https://youtu.be/8LZ5m_Dp7zo
Просмотров: 4038 Right On The Money Show
Six Steps to a Less Taxing Retirement - Right on the Money - Part 5 of 5
 
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Sub Headline: Tax Management During Retirement Can Deliver More Spendable Income. Synopsis: An irony of retirement is that many people spend more time planning for weekly activities and vacations than their long-term financial survival. Taxes are an obvious yet under-the-radar expense that can be managed effectively to reduce the adverse effects on spendable income and lifestyle. Watch the interview with adjunct professor of individual and corporate tax Mike Barnes, MBA. Even with advance planning and the help of professionals, the realities of finances in retirement become more clear by reviewing a Form1040 tax return. As a consolidator of diverse income sources, exemptions and expenses, it can be used as both a measuring stick and a guide to reduce taxes, perhaps retirement’s least acknowledged and most impactful financial factor. Success in the form of 15% - 20% tax savings can come from meeting certain thresholds. These steps can contribute to the savings: 1. Consult a retirement planning specialist in addition to a tax preparer, who is often not trained to see the holistic picture of retirement. 2. Consider the impacts of all income sources on Adjusted Gross Income (AGI) and modified Adjusted Gross Income (MAGI) including pension, dividends, interest, IRA distributions and Social Security, which is taxable at 50% when income sources exceed $34,000, and 85% taxable at $44,000. 3. Postponing Social Security suppresses reportable income and reduces tax exposure. A side benefit is an 8% annual increase in the eventual payment. The onset of payment needs to be a couple’s “we” vs. “me” decision since the surviving spouse will carry the result for their lifetime. 4. Understand that all distributions from qualified plans are taxable, as they’ve never been taxed. 5. Take the full amount of a required minimum distribution (RMD) to avoid a 50% tax. It is possible that, under certain circumstances, the 50% penalty can be appealed within the guidelines of the law. 6. Minimize reportable income through tax management can potentially suppress Medicare premiums which are means tested. Increases of reportable income can raise Medicare premiums by up to $175 a month. With increased longevity, retirement is more a marathon than a sprint. Proper and holistic planning, with an emphasis on taxes as much as income, can help provide for the dreams of a lifetime. Syndicated financial columnist Steve Savant interviews top retirement specialists in their field of expertise. In this segment we’re talking to adjunct professor of individual and corporate tax Mike Barnes, MBA. Right in the Money is a financial talk show distributed in daily video press releases to over 280 media outlets and social media networks. (www.rightonthemoneyshow.com) https://youtu.be/GRHgxnPfEX0
Просмотров: 1119 Right On The Money Show
The Future Shock in Retirement: Inflation - Right on the Money – Part 3 of 5
 
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Sub Headline: The Power of Your Purchasing Dollar Devalued Synopsis: There’s quite a conversation among financial planners and economists today: that we could be teetering on the brink of deflation. With depressed oil prices and international banks offering negative interest rates, it’s no wonder there’s buzz. But history is cyclical—inflation will return. When? No one knows. But when it does, it could return with double-digit vengeance. So hope for the best, but prepare for the worst. Content: Can you imagine preparing now for double-digit inflation in the future? Positioning your portfolio and income resources in preparation for an economic environment that looks like the late ’70s, early ’80s in the U.S.? If inflation doesn’t return, then preparing for it is not for naught. Your inflation fears will pay off big in a deflationary period and pay right on the money in an inflationary period. For senior inflation trackers, the Consumer Price Index for the Elderly (CPI-E) is the new reference point to gauge true inflation for seniors. The CPI as is doesn’t reflect the true inflationary impact of geriatric commodities purchased or services used by seniors. As an example, Social Security recipients received no cost-of-living adjustment (COLA) in three of the last six years in what some economists are calling “the new norm.” The CPI-E could have been the leading indicator in the decision-making process. If you can’t depend a COLA increase on Social Security benefits, you really are on your own. COLA Policy Riders with guaranteed lifetime income, annuities can generate monthly income you can’t outlive with an annual increase from 1 to 5 percent built in. Many financial advisors recommend using annuities with a COLA rider to cover domestic spending in retirement. Home Equity Conversion Mortgage (HECM) equity lines of credit appreciate (currently at 5.5 percent) every year on the unused portion uncorrelated to the market value of your home. This could be a resource for emergency monies in retirement. Metal Commodities, like gold and silver, can play an important role in inflationary times. Going heavy on metals may be a bit reactive, but owning some metals can provide the inflation hedge your portfolio needs. Hybrid Retirement is a new trend among baby boomers in or near retirement. The first phase of a hybrid retirement is working until age 70 to maximize Social Security benefits and delay taking required minimum distributions to age 70½. The second phase of a hybrid retirement is part-time employment after age 70. Watch the interview on hybrid retirement with Tom Hegna, popular platform speaker, retirement specialist and best-selling author with two retirement books entitled Don’t Worry, Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, “Don’t Worry, Retire Happy.” Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/Pi-gZUzD-X0
Просмотров: 1002 Right On The Money Show
The Global Glut of Debt – Right on the Money – Part 1 of 5
 
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Sub Headline Worldwide Crisis Caused by Government Debt & Pension Obligations Synopsis The nations of the world continue to print money, expand their governments and obligate their taxpayers with debt they can’t repay. The world economy is so interconnected, that when the first domino falls it will cause a rippling effect of a worldwide monetary tsunami. Content Countries are on a budget busting spending spree, borrowing money from their future and printing money to make up for their shortfalls. Global indebtedness may be as big as $100 trillion as we enter 2016 and growing at astronomical rates. And with no spending restraints in the foreseeable future and future government pension obligations in the trillions, the world is in some serious hock. If it’s hard to even think about $100 trillion of debt, think again. The next set of numbers will have 15 zeros behind it…quadrillion. The trajectory to quadrillion is no longer a steady geometric incline, but an exponential one so steep that the amortized pay off schedule could exceed 100 years. Governments can use creative accounting to massage the numbers any way they want to in an attempt to downplay the coming day of reckoning. But judgment day is just around the corner, accelerating at breakneck speed. It’s ‘pedal to the metal’ and the brakes are out. Governments draw lines in the sand, and boast “here and no further” in their calls for debt reduction. But they always have new and “necessary” expenditures, but like the outgoing tide their lines in the sand are constantly erased. But you can only live in the unreality of relativism so long before you come up against the one inescapable and immutable fact, i.e. the math. There’s a mathematical point of no return. It’s a hard and fast fact, like an underground concrete bunker that can’t move. To move it, you would have to change the universal constant. And we can’t even do that using convoluted chaos theory. The global economic environment looks dire, but there is still time to right the ship and avoid catastrophe, says Tom Hegna, in a video interview worth watching. But what does it all mean to the American taxpayer? Well, a couple of things. Firstly, other people’s problems may be our problems much sooner than later. And secondly, taxes must go up just to slow down the rate of ascent. American investors and savers may need to be much more tax conscious in their purchase of financial products and planning strategies to keep more of their own money. Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. The show features the Mid Year economic Update for 2016. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/gzut388orYA
Просмотров: 637 Right On The Money Show
Myths and Misunderstandings Undermine Retirement Tax Planning - Right on the Money – Part 2 of 5
 
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Sub Headline: Taxpayers Shortchange Themselves Through Assumptions and Reactive Accounting Practices Synopsis: Largely feared, the IRS offers multiple avenues to manage income tax responsibilities. Taxpayers can benefit through knowledge, self-advocacy and the services of a proactive accountant or tax adviser. Content: Timing is everything, and nowhere more so than in financial planning. While it’s generally unwise to time the market with buy and sell orders, consumers have until December 31 to employ tax management strategies that can legally reduce their burden to Uncle Sam. To gain an appreciation for these techniques, let’s review several misperceptions: Myth: Only top-tier taxpayers can give to charities through IRAs, and the distribution must pass through the giver as taxable to count as a deduction. Reality: Any owner of a IRA can transfer a fully-deductible contribution directly from their retirement account to a qualifying charity, up to $100,000 per individual, or, $200,000 per couple. Better yet, the transferred amount is not taxable, and does not impact Social Security income. Myth: Social Security, pension and qualified 401(k) distributions are tax-free. Reality: They accumulate tax deferred, but their distributions are taxed at ordinary income rates. Up to 85% of Social Security can be taxable depending on upon the amount of the benefit and other income that meets the provisional income test. Myth: CPAs are forward thinkers and implement “preventative maintenance.” Reality: Perhaps some are, but many CPAs and tax preparers work from a mostly historical perspective. Their calculations are made after January 1 for the prior calendar year, and they are largely powerless to correct clients’ errors of omission or procrastination. But if any omissions and errors occur it may be possible to re-file. Myth: An IRA left untouched can continue to accumulate without consequence for the benefit of its owner or beneficiaries. Reality: Minimum distributions are required after age 70½. Any short fall between the RMD amount and the actual distribution could be subject to a 50% penalty. Distributions or re-allocations taken prior to age 70½ can reduce the amount of the required distribution, and reduce the risk of penalty. In some instances within the first year after age 70½, the penalty may be recoverable. Syndicated financial columnist Steve Savant interviews retirement specialist Mike Falco. Right on the Money Show is an hour long financial talk distributed to 280 media outlets, social media networks and financial industry portals. (www.rightonthemoneyshow.com) https://youtu.be/NzNtPLIQ92E
Просмотров: 1091 Right On The Money Show
Supplemental Medigap Policies Fills The Coverage Gaps - Right on the Money - Part 4 of 5
 
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Subhead Medigap Policies Provide Seniors Can Fill Gap Coverage Synopsis Medigap policies are supplemental health insurance policies sold by private insurers, designed to fill “gaps” in health coverage provided by Medicare to help pay for services Medicare does not cover. You must be enrolled in Medicare Parts A and B before you need to purchase a Medigap insurance policy. Content For seniors 65+, and others who may qualify, there is an option called a Medigap policy. These policies are supplemental health insurance policies sold by private insurers, designed to fill “gaps” in health coverage provided by Medicare to help pay for services Medicare does not cover. Most Americans enroll in Medicare Parts A, B and D because they fear an unforeseen medical expense, and that’s just smart planning because medical bankruptcy is a potential outcome if you don’t plan accordingly. We’re living longer and are finding better ways to take care of ourselves, so you must ensure your Medicare is giving you the best benefits possible. Two primary factors to consider when choosing a Medigap policy are 1, needed benefits and 2, cost. Under federal regulations, private insurers can only sell “standardized” Medigap policies and they all differ. How and what should you look out for when choosing a policy? − Discounts. Maybe you’re a woman or a non-smoker, so insurers may offer discounts to certain people. − Medical underwriting. You might have to fill out a health questionnaire. Your answers determine if you’re eligible for a policy and at what cost. − Pre-existing conditions. There may be a six-month waiting period for a pre-existing condition under Medigap policies. − High deductible. Compare to other options. − Medicare SELECT. These policies require you use pre-selected hospitals and physicians. − Guaranteed renewable. After 1992, most Medigap policies are considered renewable and insurance companies can’t drop you. Policies issued before 1992 may not be guaranteed renewable. − Insurer pricing methods. The common methods insurance companies price Medigap policies, including community, issue-age and attained-age pricing. Watch the interview on the basics of Medicare with Curt Chojnowski, Principal at Executive Benefits Group and Medicare specialist. Curt has more than 20 years of experience in the industry and focuses on the ins and outs of Medicare coverage and can dive deep into the subject. Post 2010, available Medigap policies include Plans A, B, C, D, F, G, K, L, M and N. All plans differ when it comes to core benefits, skilled nursing, deductibles, charges, emergency travel, at-home recovery and preventative care. Plan F is what’s called the “Cadillac of Medicare,” because you’re virtually covered for everything with payment of your premium. Plan F can range from an additional $50 to $400 per month, depending on your state of residence. Talk to an insurance professional and shop around for the right Medicare coverage for you. National syndicated financial columnist Steve Savant interviews Curt Chojnowski on the basics of Medicare and the strategies available to seniors. Right on the Money is a weekly talk interview talk show for consumers. The show segments are distributed nationally as daily video press releases. (www.rightonthemoneyshow.com) https://youtu.be/QBB895RrFV4
Просмотров: 919 Right On The Money Show
Maximizing Social Security Benefits Means Managing Them - Right on the Money - Part 3 of 5
 
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This is part three of five taken from the full episode of Right on the Money featuring the Social security Series. It Matters if You Want Your Benefits to Be Bigger Social Security is America’s number-one retirement plan. For many Americans, it’s their only retirement plan. With that much at stake, it’s time to do your homework before you determine when and how you’re going to file. Retirement planning is not a do-it-yourself activity. You need to engage a financial advisor who has real knowledge of the Social Security system to maximize your benefits. Content Before having a conversation with a retirement consultant, complete your homework. There are seven basic assignments you need to prepare for your meeting. Two of these assignments are related to each other; your health status and life expectancy. If your health is poor and your family history has below-average longevity, you may consider taking your benefits as early as age 62. But if your health is good and longevity runs in your family, you may determine waiting until age 70 is optimal. The next two assignments also relate to one another: how long you plan to work and what the number of work credits you already have accumulated is. You need 40 quarters of wages subject to payroll taxes. Your benefits are calculated on 35 of the highest-earning years. Determining your work credits may alter your retirement date based on these numbers. If you’re married, your next assignment is to collect the same information as you did for yourself and calculate the spousal benefit. If you can, you should delay the benefits of the higher earner to age 70. You’ll need to create an inventory of other financial resources that can be tapped if you’re gong to wait until age 70 to maximize your benefits. This assignment is a critical component that can help you assess you last assignment, which is to determine your necessary retirement income. As an example, let’s say your benefit is $1,000 a month at your full retirement age of 66. You’re almost age 62 and contemplating when to take your benefits. At age 62, your monthly benefit will be $750, at age 66 your monthly benefit will be $1,000 and at age 70, your monthly benefit will be $1,320. The eight-year difference between age 62 and age 70 is almost twice the amount—and that amount doesn’t take into account the cost-of-living adjustment added along the way. In this example, your break-even age when comparing taking benefits at age 66 versus age 62 is age 76. The break-even age when comparing taking benefits at age 70 versus age 66 is age 81. The break-even age when comparing age 70 versus age 62 is age 79. The average life expectancy for males is age 86.6 and females age 88.8.1 Let the math argue with your mind. 1 Changes in life expectancy for 65-year olds in the U.S. 2010 versus 2014 Wall Street-Journal 10/28/2014. Syndicated financial columnist and talk show host Steve Savant interviews Tom Hegna, popular platform speaker; best selling author and retirement expert. Tom hosted the PBS Television Special "Don't Worry Retire Happy." The television special was designed after Tom's latest book, "Don't Worry Retire Happy." Tom's first book, "Playchecks and Paychecks" drew critical acclaim from financial advisers and insurance professionals. Right on the Money is a weekly one hour financial talk show for consumers. (www.rightonthemoneyshow.com) https://youtu.be/6fouxBxoI_A
Просмотров: 1002 Right On The Money Show
Do’s and Don’ts of Retirement Savings - Right on the Money – Part 2 of 5
 
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Sub Headline: Different Rules Apply for the Employed and Their Employers Synopsis: Though a shared goal, retirement is achieved differently by employers and employees. Both groups utilize savings from earnings to fund their retirements, however, changing times and regulations provide employers with often overlooked advantages. Employees should utilize available savings opportunities and maintain strict oversight of their retirement accounts. Watch the interview with retirement expert Nick Paleveda, JD, MBA. Content: Few people want to work forever, and many envision retiring on Day 1 of their careers. Getting to that point can be a battle, whether the aspiring retiree is the employee or the employer. There are variations for each party, and adhering to the fundamentals of saving will help. Upholding one’s retirement plan is essential due to the steady decline of defined benefit plans (pensions) administered by employers, and the rising popularity of 401(k) plans since 1980. In short, the retirement planning burden has shifted from employer to employee. Employers: Do provide employees with a retirement savings channel, which gives the employee an opportunity to shelter income from immediate taxation and build their future. Compared to employer-funded pensions, 401(k) plans shift the savings burden to the employee and require less ongoing and future administration by the employer. If you’re self-employed or a small business owner you may not want to fund your retirement through a 401(k) – it’s tax inefficient. Do fund it through your own fully insured define benefit plan, which offers contribution deductions against Unemployment, Social Security and Medicare taxes, unlike 401(k) contributions, which only reduce federal and state taxes. Employees: Do recognize the limits of Social Security – it’s not an income substitute - and accept responsibility for planning and funding your retirement. Do become informed, especially about the rules and limits of an employer’s 401(k) plan. Don’t miss any “free money” matching contributions that employers provide, since they can’t be repeated or re-claimed. Don’t raid or borrow from a 401(K) to fund a child’s college education, a new home or the next “shiny object” like a car, that will immediately depreciate. Penalties may also apply. Employers and Employees: Do strive to accumulate positive equity from stocks, bonds and annuities that can grow over time. Don’t leave a 401(k) behind when changing jobs. Millions of accounts and $1 trillion dollars in retirement savings are considered abandoned Syndicated financial columnist Steve Savant interviews best selling author, popular platform speaker and retirement expert Nick Paleveda, JD, MBA. Right on the Money Show is an hour long financial talk distributed to 280 media outlets, social media networks and financial industry portals. (www.rightonthemoneyshow.com) https://youtu.be/QmVOFOYtgh0
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Get the Most Out of Your 401(k) Contributions - Right on the Money - Part 1 of 5
 
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Synopsis Most retirees want more predictable monthly income. It brings a degree of solace and confidence for the future. For some seniors, it removes the angst and stress over finances. It may even be an issue of product suitability based on the retiree’s financial profile and risk tolerance. So, what if you could use your 401(k) as a tax-mitigation tool to deliver more net spendable income? Content Did you know non-deductible 401(k) contributions could be rolled into a Roth at retirement? Funds may be rolled into a regular Roth IRA from a designated Roth account that is part of a 401(k) plan and it’s not a taxable event. To boot, the filing status and MAGI limitations normally applicable to regular Roth contributions do not apply.1 Overfunding your 401(k) may be just the option you’re looking for if you want more income during retirement. It could provide you with access to extra Roth dollars during retirement you could rely on. When assessing overall participant usage of a Roth 401(k) feature, 7.4 percent of participants elected that very option, according to a study by Hewitt Associates.2 By making after-tax contributions that are eventually converted to Roth IRA assets, investors—like you—can build a higher level of Roth assets than is currently allowed with direct Roth IRA and 401(k) contributions. Watch the interview about maximizing 401(k) rollovers with investment adviser representative adviser Eric Judy. But you have to be careful—you cannot do this as an in-service distribution. It typically can only be done at separation and not every plan allows for after-tax contributions, so be sure to check with your plan administrator. When designing your retirement income strategy, it’s best to enlist the help of an financial adviser to ensure you’re on track to reach your goals within the time frame allotted. After all, don’t we all want to get the most out of our retirement dollars we’ve worked so hard for? 1 The Small Business Jobs Act of 2010 authorized 457(b) governmental plans to add a designated Roth account option, effective January 1, 2011. 2 http://www.aon.com/attachments/thought-leadership/Role_Roth_401k_in_Retirement_Savings.pdf Nationally syndicated financial columnist and talk show host Steve Savant interviews Investment Adviser Representative Eric Judy co author of The New Retirement, a Paradigm Shift on the weekly consumer video show Right on the Money. Right on the Money is an hour talk financial show for consumers and distributed its 5 ten minute segments as video press releases to over 280 national outlets. (www.rightonthemoneyshow.com) https://youtu.be/q4kpf6PdSic
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For Most Seniors Paying for Elder Care is Inevitable - Right on the Money – Part 5 of 5
 
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Sub Headline: Assisted Home Living Is Now the Target Market for Long-Term Care Synopsis: The new trend in long-term care is assisted home living. Seniors who are purchasing their last home—their retirement home—are retrofitting it for the future home-care living. Why wait until you’re in your 80s to install the walk-in tub? It’s in your master bedroom, so it’s out of sight, out of mind. Pull-down kitchen cabinets replacing traditional cabinetry; now nothing’s out of reach. Single-story homes with no stairs, sunken living rooms or outside steps are out of the picture because assisted home living is the goal. Content: This is not your parents’ retirement. We’re all going to be living longer and some form of elder care is inevitable. Retrofitting your retirement home now for in home care in the future makes sense. Living longer means living a healthy lifestyle of regular exercise and proper diet. There’s a race between geriatric medical technology and the eventuality of growing old. The first phase of retirement is the “go-go” years where you go and do everything your money will allow you to do. Then come the “slow-go” years where you can go and do everything, you just choose not to. Lastly, the “no-go” years are where you go nowhere and you need help around the house. Watch the interview on long-term care in retirement with Tom Hegna, popular platform speaker, retirement specialist and best-selling author with two retirement books entitled Don’t Worry, Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, “Don’t Worry, Retire Happy.” Eventually, assisted home living enters the picture. In the future, that may not occur until your late 80s to early 90s. You’re going need help—and you’re going to have to pay for it. The long-term care insurance market has two basic policies: traditional long-term care contracts and hybrid combination policies. Traditional long-term care policies have the best benefits, but can be pricey. If you’re family has a history of elder care and you can afford it, you should consider purchasing a traditional long-term care policy. But if you find it too expensive, you should investigate two hybrid policies that have long-term care provisions: life insurance and annuities. The benefits are scaled back on these contracts, but some coverage is better than none. Keep in mind you want your coverage to include assisted home living. After investigating the options of long-term care policies, you may conclude you just can’t afford them, but it’s risky to enter into retirement without a long-term care plan. But, if you do and you own your home free and clear, you may want to consider the appreciating HECM equity line of credit for seniors age 62+. The unused portion of the equity line of credit appreciates every year uncorrelated to the market value of your home. If you need assistance at home, you could tap your equity without any payment obligations. The loan will be paid off when your home is sold after you and your spouse have both passed. This is a last-resort tactic, but for many, it may be the best and only option. Nationally syndicated financial columnist Steve Savant interviews Tom Hegna, popular platform speaker, retirement expert and best selling author. Tom has two retirement books entitled Don’t Worry Retire Happy and Paychecks and Playchecks. Tom has also hosted the PBS Special, Don’t Worry Retire Happy. (www.rightonthemoneyshow.com) https://youtu.be/kVv2rwolipE
Просмотров: 895 Right On The Money Show
Barbell Approach to Bonds Strengthens Retirees’ Portfolios - Right on the Money – Part 5 0f 5
 
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Sub Headline: Staggering bonds’ maturities over time protects against interest rate risks. Synopsis: Bonds can be a source of steady and sustainable income. They’re often used to complement Social Security, pensions and fixed income annuities in the income to expense match-up. Purchasing only quality-rated bonds is a defense against default. Content: Typically issued by companies or municipalities for capital-raising or expansion, bonds are yet another potential source of sustainable retiree income. As loans to issuers, buyers and holders of bonds are paid interest at known intervals and rates, and are repaid their principal at maturity. Bonds sold prior to maturity are subject to devaluation if interest rates have risen, and increase in value if interest rates have fallen. Retirees often match up their known monthly expenses with traditional income sources including Social Security, pensions and qualified retirement plan proceeds. Fixed index annuities can fill in the gaps and have many benefits, although liquidity is not among them. Bonds can pick up the income and liquidity slack, and when properly structured over time, can be an evergreen source of income and protection. Often known as laddering, a barbell approach to bonds (visualize the ratcheting motion of a lift) involves staggering bonds’ returns and expiration dates over time, frequently at five-year intervals. Given that returns and maturities are cyclical, bond portfolios can be considered om a macro level as a portfolio within a portfolio. Important to consider when assembling a bond portfolio are the issuers’ quality grade and the bonds’ maturity dates. Quality refers to the issuers’ ability to make the stated interest payments and ultimately, repayment of principal. Desirable bonds are typically corporate grade and not rated below Triple-B. Anything less can be considered as “junk” to be avoided. Maturity dates state when the principal is due to be repaid. Long maturities can offer the highest interest rates, though they also have the most time for value fluctuation. Bonds can be useful in mitigating two of retirement’s biggest risks, longevity – always an unknown - and then sequence of returns, the systematic draw down of assets. In both cases, bond interest payments support ongoing retirement expenses. However, as with other asset classes, bonds alone are not enough, and experts encourage asset diversification consistent with retirees’ risk tolerance and goals. Syndicated financial columnist Steve Savant interviews retirement specialist Mark Patterson. Right on the Money Show is an hour long financial talk distributed to 280 media outlets, social media networks and financial industry portals. (www.rightonthemoneyshow.com) https://youtu.be/seO4363P6AE
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The Wounds of Wars Need the Healing Compassion of the Country - Right on the Money – Part 3 of 5
 
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Sub Headline: VA Service-Connected Benefits for the Injured, Imprisoned & Heroic Synopsis: Provisions under the VA combat-related injuries; both physical and psychological address levels of benefits for former military who qualify. Even the Medal of Honor has its own pension provision. Watch the interview with elder law attorney, veterans’ benefit specialist and former president of U.S. Senior Vets, Richard Schulze, MBA. Content: The VA benefits extend to combat-related injuries, but now they also include non-visual physiological and psychological damage. Vietnam was the first war (the government called it a “police action”) that recognized injuries were occurring beyond conventional combat wounded. The herbicide used to destroy dense foliage had adverse health affects on soldiers, as well as civilians. Agent orange opened the gateway of understanding to Posttraumatic Stress Disorder (PTSD) through the efforts of the American Legion. The evolution of benefits developed out of the contamination of military personnel by Agent Orange first by direct contact, then by being in the spray zone and finally to those on ships where loading and unloading occurred. Even today, there are claims from Vietnam aviators of respiratory damage where the military used jet exhaust to pressurize the cabin. It’s often difficult to quantify the level of physical injury beyond the loss of a limb, eyesight or hearing. It can be hurtful for a veteran to have to measure the level of their disability with other injuries that are not so readily recognizable as such. It’s this area of dispute; delays in benefits are generally caused by the “definitions” and “levels” of injury with those who ultimately make the decision on the claim at the VA administration. This can acerbate the patience of many veterans, especially those who can’t work because of their combat-related injuries. Veterans who were prisoners of war could claim disability benefits as an additional form of compensation based on length and injuries that occurred in their captivity. Medal of Honor receptions also have additional benefits for their heroic acts in extraordinary combat situations. Keep in mind many of these benefits convert to surviving spouses or dependents of active or inactive military. It seems combat veterans have to go to war with the VA for their rightful benefits and then turn to the legal system to secure coverage for themselves and their families. The recent problems with the VA have underscored the disconnect between a grateful nation and government’s inability to serve the service men and women of our country. Richard Schulz contributed content to this press release. Syndicated financial columnist Steve Savant interviews eldercare attorney, veteran benefit specialist Richard Schulze, MBA. Right on the Money Show is an hour long financial talk distributed to 280 media outlets, social media networks and financial industry portals. (www.rightonthemoneyshow.com) https://youtu.be/nk1yDb36k1w
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You Need to Gauge Your Risk Tolerance in Retirement - Right on the Money - Part 2 of 5
 
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Subhead For Many Retiree’s Their Level of Investment Risk is Zero Synopsis There are many risks during your golden years that can change your retirement dream into a penny-pinching nightmare. In order to combat this nightmare, you must determine your risk tolerance level and adjust it to fit your psychological profile for investing. Content When it comes to investing, one of the best tools you can utilize is knowledge. Understanding what you’re investing in can help you build a portfolio you’re comfortable with and helps alleviate some of the risk to your long-term results. Risk tolerance is the measure of how much risk you can handle as an investor. It may help determine what you can afford to lose, the time frame you have remaining to reach your goal and your emotional ability to handle risk. Risk tolerance changes over time, too. Whether you’re investing conservatively, moderately or aggressively, age, income and circumstance all form your current level of tolerance. It’s always wise to reevaluate your risk tolerance to ensure as your risk tolerance changes, your portfolio reflects those changes as well. This is where many investors—and advisors—may fall short. Reevaluating as your life changes is imperative. But how do you know if the options are too risky based on your risk tolerance? Undergoing a risk-assessment test can be a first step in building the right financial profile for you. If you can’t handle the wild swings of the market, you may have to seek out lower-risk products. Losing 20 percent in your 30s is less devastating than when you’re in your 50s—it could leave a huge impact on your overall retirement strategy goal. Watch the interview on gauging your risk tolerance in retirement with Investment Adviser Representative Eric Judy. You must also stress test your portfolio because past performance is not a guarantee of future returns and unfortunately, there’s no such thing as a risk-free investment. Investors who take on too much risk may panic and sell at the wrong time, only burdening themselves later on during their golden years when they’re supposed to be having fun, not worrying about stretching each and every dollar they have coming in. As stated previously, your risk tolerance changes over time, but how much does it change after you retire? Well, that depends on how much you need to meet your lifestyle goal. This is why the risk-tolerance test is so important. It helps in determining the investment strategy that makes the most sense for your particular situation. You can decide when you retire, but you can’t decide the economy in which you’re retiring in, so ensure your “retire-style” will work for you no matter the market. A licensed professional can help make understanding risk tolerance easier and less overwhelming, so seek out their guidance every step in your retirement-income journey. Nationally syndicated financial columnist and talk show host Steve Savant interviews Investment Adviser Representative Eric Judy co author of The New Retirement, a Paradigm Shift on the weekly consumer video show Right on the Money. Right on the Money is an hour talk financial show for consumers and distributed its 5 ten minute segments as video press releases to over 280 national outlets. (www.rightonthemoneyshow.com) https://youtu.be/lLrflkg0bkg
Просмотров: 810 Right On The Money Show