Tell me about your business and the types of customers you help
I specialize in implementing risk free, tax-free income strategies for clients who are in pre-retirement or retirement.
The strategies reposition their assets into tax free accounts to minimize taxes during retirement and insure that they are immune from any future tax increases.
My role is to provide knowledge and implement the strategies used by the top 1% of tax payers, so everyone can benefit from the strategies.
A good analogy for ‘what I do’ is a baseball pitcher who is called the “saver.” The saver enters the game in the late innings to save the game, just like one approaching retirement. My role is to help my clients accumulate money when in pre-retirement and to keep the money safe, minimize taxes and assure their money will last for their lifetime.
My approach to develop a documented retirement strategy that is comprehensive, meaning I use a wide choice of different strategies to achieve my clients’ goals.
The first step is to identify my client’s visions, goals and essential living requirements.
The second step is to provide knowledge for them and work collaboratively work with them in developing a documented retirement strategy.
I am determined to be unbiased as possible & provides fees which are transparent.
The third step is to guide them to clear decisive decisions.
The plan typically includes guaranteed income for both spouses & increasing income when their ages are applicable.
How do you separate yourself from other advisors?
Forward thinking tax strategies can create double digit multiplier of tax savings over one's lifetime as compared to one year’s tax savings.
The emphasis is on paying taxes on the seed (similar to a farmer and not on the harvest.)
The level of education and experience is what separates me from others in the same field of expertise.
The clients assets are categorized into three buckets, Taxed, Tax Deferred and Tax Free.
The aim is to leave the Ideal Amount in each bucket and move the excess money from the Taxed Bucket and Tax Deferred Bucket to the Tax Free Bucket.
This accomplishes changing your money from "Always taxed to Never taxed” -Ed Slott, CPA.
My aim is to have my clients’ principal positioned in strategies that are considered SAFE and tax-free.
Then considering strategies that will provide them tax free income in their portfolios.
We use the tax-free bucket as much as feasible. Going from “Always taxed money to Never taxed money” is the goal.
If you have seen Ed Slott on TV, I am his disciple.
What are the most common Pitfalls Preventing Your Prospects from achieving their goals?
Most people I have met have experienced one or more of the following:
They do not start savings & planning early enough.
Many believe the stock market is the only way to make money and the dips will recover rapidly.
They do not realize S&P Compound Average Growth Rate from 2000 to 2016 was 2.4%.
If money was in a cash based life insurance policy during 2007-2016, it's Compounded Average Growth Rate was 7.2%.
Principal is guaranteed not to lose principal and retain its gains.
Believing CPAs, stock brokers and security advisors with all the credentials are knowledgeable in Advanced Insurance Products (AIP).
It is impossible for them to competently know advanced insurance products as only a portion of the top 1% of tax payers have them, hence the average CPA and advisor have no experience with AIP.
The time required to learn and stay current on AIP, the CPA & advisor just does not have and when they do not employ them, why would they?
Unfortunately most CPAs and advisors believe AIPs are Death Benefit insurance policies, it’s like a zebra is a horse sort of thing.
Don’t let me give you the wrong impression, I do have 5 CPAs that are clients and slowly increasing who have implemented the AIP in their practices.
They are the minority.
These have taken the time and energy to learn the AIP.
Another small percentage of the competition have sold the basic annuities and death benefits.
The problem is that over 95% of them have not a clue regarding AIP.
Are there some things that we may not have covered that you can share now?
Lesson #1. Never listen to anyone.
Take the time to educate yourself with the concepts and strategies.
Know the moving parts as well as the pros and cons.
Read books and articles from my website. Watch videos on my website.
Most importantly, read the disclosures (contracts) with me so I can explain them and answer your questions on a real time basis. This is the where the true facts are. Never try to read them yourself as you need an interpreter. That is me or my partner.
If you are compelled to have your CPA involved, involve him early so he can be educated along with you. He most likely is starting from the same place as you or sometimes behind you.