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Now displaying: May, 2019
May 28, 2019

Some advisors tell you to Buy Term Life Insurance and Invest the Difference, but there is a better way (no secret). 🤔

Some advisors tell you to Buy Universal Life Insurance (UL, VUL, EIUL or IUL variants), but this is really a pre-packaged form of the same strategy 🎁 - Buy Term and Invest the Difference. There’s still a better way!

 

We tell you to buy Whole Life Insurance with a strong PUA rider (Paid Up Additions) + maybe some convertible term insurance (separate policy)…AND you will hear WHY this is the best way to go. When all the pieces come together it just makes sense! You want to keep your options on the the table as fully and as long as possible, and you remember Warren Buffet’s first 2 rules: #1 Don’t Lose Money; #2 Don’t Forget Rule #1.

 

Also on this show a quick review of how long you should think of keeping the PUA rider on a Whole Life Insurance policy for the best results.

 

Resources:

Do You Have a Friend Selling Indexed Universal Life Insurance? - Podcast

Nassim Taleb - Author, Investor & Philosopher

Should You Have a Term Rider? - Video

May 21, 2019

Did you know, that successfully avoiding risk can be more important to your wealth than finding great returns? ⚠️ But most people (including financial planners) think they can “manage risk” when they’re simply hiding the risk instead. Don’t let this bite you.🦈

Learn from a real-life story of Steve Wynn’s Mirage Hotel & Casino + the fact that “In the last fifty years, the ten most extreme days in the financial markets represent half the returns. Ten days in fifty years!”

In 1911 the Supreme Court ruled Life Insurance was a Transferable Asset, and Justice Oliver Wendell Holmes wrote the court opinion saying life insurance is one of the “…best recognized forms of investment and self-compelled saving.”

Discover how you can manage risk through whole life insurance in a way that’s impossible through the Stock Market alone.

 

Resources:

Supreme Court Ruling Grigsby v. Russell (1911) - On Life Insurance as Transferable Property

How to Read a Life Insurance Illustration - Video

 

The Black Swan - book by Nassim Taleb

May 14, 2019

You will hear all sorts of fluffy marketing terms when it comes to building wealth with life insurance. 🎧 Listen for tips on how to cut through to the real meaning and understand the keys to manage your money wisely.

A good litmus test that still holds true = “If it sounds too good to be true, it probably is.”  Of course Truth does provide amazing results, AFTER the foundation has been laid. Good things take time to grow.

 

It’s not so much about the money you SAVE - its about the Money you KEEP and there is a big difference! Not all advice is applicable for all levels of financial strategy - This is one lesson that will always help you stay on track at every level of your financial journey.

 

Resources:

How to Read a Life Insurance Illustration - Video

Life Benefits Website - Blog, Podcast, Videos

May 7, 2019

Are you having to pay more income tax for 2018 than you planned?🇺🇸 Jack Cohen CPA joins us for a quick interview to share what he’s seeing as 2018 returns are processed.

You may not be getting as big a tax refund this year because of the way withholding is calculated under the new law...instead, you most likely keep more with every paycheck. The IRS will be releasing a new W-4 form later this year which could complicate withholding for employees.

Most Americans are indeed paying less federal income tax overall UNLESS you live in a high-income/property tax state like California, New York, New Jersey or Illinois.

Section 199A of the new law is great for business owners, but there are special situations CPAs are working through for the first time. Small changes can significantly affect your bottom line and calculations can be complex. Good idea to get a second opinion if your 2018 return doesn’t seem quite right.

Contact Jack Cohen for a Free Review of your tax return - no strings attached: 702-255-2330

 

Resources:

2017 Law Cut Taxes for Most Americans - NY Times

Campbell Jones Cohen CPAs - Website

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