S.M.A.R.T. Retirement Planning

You CANNOT get a loan for retirement…

You CAN get a loan to pay for a vacation, a new car, a new home, college tuition, private school tuition, plastic surgery…but you CANNOT borrow for retirement. So don’t delay!!!

The 3-Legged Stool of Retirement

Pension

Fewer companies are offering retirement benefits these days – and for those that do, many are scaling back their plans. Will your pension be enough?

Social Security

It started out with 40 workers contributing for one retiree in 1940’s, now it’s 3 for one. Do you think there’s still Social Security when you retire?

Personal Savings

38 millions Americans live paycheck to paycheck. And only 59% of adults says they have savings. Do you have enough savings?

<center>maximize retirement savings and tax benefits, and create an endless stream of retirement income. </center>

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Tax now

TAX NOW

Brokerage account

Certificate of deposit

Checking account

Savings Account

 

Tax later

TAX LATER

401k/403(b)

Annuity

SEP IRA

Thrift Savings Plan (TSP)

Traditional IRA

Tax never

TAX NEVER

Life Insurance

Health Savings Account

ROTH IRA

ROTH TSP

Related article: Tax-free Retirement

<center>The rule of thumb is you’ll need twenty (20) times of your current annual income for a comfortable retirement.</center>

Long Term Care Insurance

Estate Planning

Final Expenses

Are you also saving for college?

Make Your Wealth Lasts for Generations with Proper Estate Planning

As human beings, we all die. It’s just a matter of when. There’s no if’s and/or but’s about that.

When that happens you probably want to have control over how your legacy are given to the people or organizations you care most about. To ensure your wishes are carried out, you need to provide instructions stating whom you want to receive something of yours, what you want them to receive, and when they are to receive it.

This special instruction is your ”living trust” or what my attorney called ”The Hand from the Grave”.

A living trust gives you the ability to continue to control your estate after your passing, hence, “the Hand from the Grave”.

Have you heard of stories of 18-year-olds who inherited loads of money from their parents or grandparents, and ended up spend all those hard-earned wealth on useless items.

Is that how you want your legacy to end up?

My living trust prohibits my daughter from ownership of my estate until at least 35 years of age. In the meantime, she’ll have to learn how to accumulate her own wealth, so when she finally have access to my estate, she’ll know how to properly handle the new fortune.

You see how important it is to have a proper estate plan or living trust in place. Anything can happen after your passing and there’s no guarantee to anything.

Having a will is not the same as a living trust. A will still has to go through probate. I’m seen properties held in probate for over 10 years. That’s not how you want your income-generating assets to be doing.

Creating a living trust is like creating another entity, or another ”you” that lives on when your physical body does not.

Need more reasons to start estate planning?

• A living trust can avoid probate costs, which vary from place to place but can range from 3 to 7 percent or more of the total estate value. Legacy and properties transfer directly to designated heirs without probate.

Do you want to pay some strangers in the courthouse to divide your wealth and have no control of who gets what and how much?

• A well designed estate plan can help manage estate taxes. Current tax law exempts estates valued up to $5.45 million from estate taxes, but any estate valued more than that amount can be taxed up to 40 percent. Life insurance pay out is one way to pay for estate tax.

Related article: Cash Value Life Insurance

Do you want your heir to lose up 40% of their inherited wealth?

• Estate planning helps ensure your legacy reaches your intended heirs, including any life cash, jewelry, collectibles, life insurance, pensions and annuities.

Do you want your wealth and legacy go to the wrong hands after your passing?

• A living trust offers an opportunity to set up medical and financial powers of attorney so that, should you become incapacitated, someone can take care of your finances, make medical decisions for you, and more.

Do you want someone else to make decision for you when you’re incapacitated?


Estate planning is an essential part of your wealth building strategies. It helps to ensure that your legacy and wealth that you accumulated over the years is not eaten away by estate taxes or other unintended consequences.

What Should be Included in a Living Trust?

• instructions for passing your values (religion, education, hard work, etc.) in addition to your valuables.

• instructions for your care if you become disabled before you die.

• Name a guardian and an inheritance manager for minor children.

• Provide for family members with special needs without disrupting government benefits.

• Provide for loved ones who might be irresponsible with money or who may need future protection from creditors or divorce.

• life insurance to provide for your family at your death, disability income insurance to replace your income if you cannot work due to illness or injury, and long-term care insurance to help pay for your care in case of an extended illness or injury.

• Provide for the transfer of your business at your retirement, disability, or death.

• Minimize taxes, court costs, and unnecessary legal fees.

• Be an ongoing process, not a one-time event. Your plan should be reviewed and updated as your family and financial situations (and laws) change over your lifetime.

Do you think you can’t afford the attorney fee for a living trust? Think again. Are you willing to give up your estate to some strangers to make decision for you?

Good news is LegacyShieldSM offers affordable estate planning solution for any budget.

Estate planning is for everyone, not just the super wealthy. The simplicity and affordability of LegacyShieldSM means that anyone can use it.

LegacyShieldSM uses four essential tools to help you create your comprehensive legacy plan:

1.  MyLifeStoriesSM

Helps you tell your story the way you want. Design and customize in-depth, multimedia chapters of your best memories and the stories you want to pass on with music, video, pictures and text. It has been developed by clinical psychologists and neuropsychologists for maximum effect.

2. My Wishes

Helps you talk about the tough stuff. Specify recipients, and convey in words what can be hard to talk about in person, such as your desired resting place, special wishes or obituary.

3.  Life Administration

Lets you track and update important information that you or your family might need at any time. Once you pass, it’s important that your family can easily access bank accounts, credit cards, life insurance benefits, and digital assets like music, social media and other online subscriptions.

4. My Vault

Helps you to easily upload and store essential documents: a personal will, housing deeds, birth certificate, copies of your passport, power of attorney and more.

For estate worth over $5 million, please consult with your attorney and/or tax advisor for guidance regarding your specific circumstances.