Everything You Always Wanted to Know About Rate of Return

Compound Annual Growth Rate vs

I’ll be honest with you—writing this post makes me feel a bit like Jack Nicholson’s character in the movie “A Few Good Men”. Remember when Nicholson is being questioned by Tom Cruise in the most memorable scene from the movie and Cruise is demanding the truth? Nicholson replies, “You can’t handle the truth!” So, what …

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What is the 1035 Exchange?

What is the 1035 Exchange?

The 1035 exchange is a tax-free transfer of cash values from one insurance contract to another.  The exchange also carries the cost basis from the old contract to the new one.  Functionally speaking, the 1035 exchange is a great strategy current life, endowment, and annuity policyholders can use to purchase a new policy with better features than their old policy while bringing over the value from the old policy with no tax consequences for making the change.

However, there are several important rules you must understand before you decide to replace an old insurance contract using the 1035 exchange.  Ignoring these rules could result in unfavorable consequences leaving you worse off.

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Why It Sucks to be a Financial Advisor

Why It Sucks to be a Financial Advisor

Being a financial advisor or insurance agent isn’t all champagne wishes and caviar dreams. In fact, it’s a lot of misery for a long time and then maybe, just maybe, a ray of sunshine breaks through a seemingly endless dark cloud that rains prosperity down on a persistent individual.

That all sounds rather dark I know, but I want to be very clear about how this industry over-emphasizes the benefits and understates the costs (both financial and emotional) involved in growing to become a successful advisor/agent.

Today we’re speaking directly to those who seek to join our ranks within the financial services industry, and those who have newly joined the game and wondering how on earth they go about continuing to stay in the game.

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059 FOMO No No

FOMO No No

(Complete Show Notes Below)

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In the 59th episode of the Financial Procast:

Do You Have Financial FOMO?

Unfortunately it seems that financial “advisors” have spent too many years trying to gain credibility with their clients by pitching them on creative ways to defer, delay or dodge taxes.  Now, we realize that this notion has some appeal…especially when it's done legally and well within in the confines of the IRC.

However, we run into people on a fairly regular basis who've bought into using some tactic to get around a “tax problem” that exists in the present only to find out they've created a substantial problem down the road.  We've seen some schemes that people thought up all on their own and we've seen some that were recommended at great expense by an advisor of some sort.

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