tag:blogger.com,1999:blog-1282770601737485412024-03-05T09:36:12.625-08:00The Bulakites ReportBarry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.comBlogger260125tag:blogger.com,1999:blog-128277060173748541.post-35794754312495605682020-09-07T19:37:00.000-07:002020-09-07T19:37:17.466-07:00New Table Bay Website Looking Sharp <p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgU6nTDMvtG9k4G8w7gkGm0aOWaBLi75lK05yR62hB8F45f1ewHuUtWjMZRoe7m36Egu6ZsstYldsdn8CwVYrK2hmgMwDMBpT68_3RUt5tkn4Zny6FBMSbZHhhDK0I-762v_I8HrOCaxEdO/s1189/Screen+Shot+2020-08-13+at+8.23.22+AM+%25282%2529+%2528003%2529+%2528002%2529.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1099" data-original-width="1189" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgU6nTDMvtG9k4G8w7gkGm0aOWaBLi75lK05yR62hB8F45f1ewHuUtWjMZRoe7m36Egu6ZsstYldsdn8CwVYrK2hmgMwDMBpT68_3RUt5tkn4Zny6FBMSbZHhhDK0I-762v_I8HrOCaxEdO/s320/Screen+Shot+2020-08-13+at+8.23.22+AM+%25282%2529+%2528003%2529+%2528002%2529.png" width="320" /></a></div><br /><p></p>Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-27155124662193136362020-09-06T18:48:00.001-07:002020-09-06T18:48:59.792-07:00The one and only! <p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgzeTHXPnba-rEmWVh8Lil34eayEGgm0FSBv43ZR1Yrtzh70Phbsjf4tdw9i5JyJPPGGEkv_NF43Sx-inPsbC9zErHOTN8ZZlNAF7q2MRXTwCWa8-KpA_IwgmXB8Jih0UCfVgy2UmLy1wNH/s2048/IMG_0509.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="2048" data-original-width="1536" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgzeTHXPnba-rEmWVh8Lil34eayEGgm0FSBv43ZR1Yrtzh70Phbsjf4tdw9i5JyJPPGGEkv_NF43Sx-inPsbC9zErHOTN8ZZlNAF7q2MRXTwCWa8-KpA_IwgmXB8Jih0UCfVgy2UmLy1wNH/s320/IMG_0509.JPG" /></a></div><br /> <p></p>Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-13485661347348504192020-09-06T08:20:00.001-07:002020-09-06T08:20:11.816-07:00Doing the News! <p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjsbUslQsfxYVteq5o_waYPZu2w5IvzKFABj_Dcfzc-vN1sfwtDjB9FFkeHt0zWF0kbqpe9cRwA5Xlb_OhBb73oa8VU6DKAHc8RdxT-qWqq640V-rVaCcUY0z-UlHKXB2pl8p7VQKxemRlb/s2048/IMG_0455.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1530" data-original-width="2048" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjsbUslQsfxYVteq5o_waYPZu2w5IvzKFABj_Dcfzc-vN1sfwtDjB9FFkeHt0zWF0kbqpe9cRwA5Xlb_OhBb73oa8VU6DKAHc8RdxT-qWqq640V-rVaCcUY0z-UlHKXB2pl8p7VQKxemRlb/s320/IMG_0455.JPG" width="320" /></a></div><br /> <p></p>Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-58419926566923999682020-09-06T07:43:00.002-07:002020-09-06T07:43:58.251-07:00Best CPA in the Land...Koshy George CPA<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgks3iNpPQP1IXGnUr61y_cXv3YNK-58j9bExkVkzGRXkFjqgvvpf-MSpyw0_Pbe69b6tWiz0eAexeywaaMHMmkClx7kB3_POA3X2LumxdNE9XiyHQcuu2alv_6qoRhzMNsGqFten-hHkKr/s2048/IMG_1423.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1536" data-original-width="2048" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgks3iNpPQP1IXGnUr61y_cXv3YNK-58j9bExkVkzGRXkFjqgvvpf-MSpyw0_Pbe69b6tWiz0eAexeywaaMHMmkClx7kB3_POA3X2LumxdNE9XiyHQcuu2alv_6qoRhzMNsGqFten-hHkKr/s320/IMG_1423.JPG" width="320" /></a></div><br /> <p></p>Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-27260977747377455742020-09-05T20:03:00.001-07:002020-09-05T20:03:09.212-07:00Adam and Lee Wintertime Fun in Vermont <p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZFacXgwcyQ7aTapLgjYXWpZfjlROVsRnWSLptCBVAbzeU-thGb0pQ-qnjng4MN4qjUdvVlD80wD0pbP32c7xVLh4GcqO-Htir7QW4DY_ZLbLy0kuIg9gWq6ern_QZ6UCEe59I5hpp7G78/s1456/IMG_0014.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1024" data-original-width="1456" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZFacXgwcyQ7aTapLgjYXWpZfjlROVsRnWSLptCBVAbzeU-thGb0pQ-qnjng4MN4qjUdvVlD80wD0pbP32c7xVLh4GcqO-Htir7QW4DY_ZLbLy0kuIg9gWq6ern_QZ6UCEe59I5hpp7G78/s320/IMG_0014.JPG" width="320" /></a></div><br /> <p></p>Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-8317704778237521952020-09-05T19:59:00.000-07:002020-09-05T19:59:12.583-07:00Hell on Earth to Snow <p> It hit 100 today in Denver ( 64th 90+ degree day this year ) and snow is in the forecast for Tuesday. </p>Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-25209715056577770892020-09-05T19:56:00.001-07:002020-09-05T19:56:04.866-07:00Time Passes So Fast - Adam and Lee in Vermont <p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgiic1br1wI4rCXly3hjlZJFxV-2Fs6pBnOCC1lC7eBeTGuw-BdJi3PbqZvrNSC2Pg3vHqxqX-mQpQRZ6ZOtbcD9UuHFPB_VY4VWN458WoYwkE_nsACl1DhG7XgTi5-PQrpKmniWEHsjGxc/s1472/IMG_0020.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1040" data-original-width="1472" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgiic1br1wI4rCXly3hjlZJFxV-2Fs6pBnOCC1lC7eBeTGuw-BdJi3PbqZvrNSC2Pg3vHqxqX-mQpQRZ6ZOtbcD9UuHFPB_VY4VWN458WoYwkE_nsACl1DhG7XgTi5-PQrpKmniWEHsjGxc/s320/IMG_0020.JPG" width="320" /></a></div><br /> <p></p>Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-16194350353323628332020-09-05T19:51:00.002-07:002020-09-05T19:51:46.519-07:00Bringing The Blog Back To Life <p> With so much happening in this crazy world its time to get back to the blog and weigh in on a weird and crazy world. </p>Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-17138036165689307342017-06-18T11:14:00.000-07:002017-06-18T11:14:36.607-07:00Bitcoin Trades Full Speed Ahead Record price for Bitcoin $2,967 reached June 6, 2017.<br />
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The digital currency has tripled this year in value - can a tumble be around the corner? Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-60865860774924739942017-06-18T08:13:00.000-07:002017-06-18T08:14:17.825-07:00Rising Worries of a Reversal in Stock Market <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEin53x1YgW02L9JLXJugDtRdDY0r_1N1cu3OCZfKHOkIr9DUPMxfaJduN0kEVUfJrmowTxV4cXUOzN3C6rdLS9qGnwoBy1YGXEbvXSHj18uAEHqRfk8WL3_7P-MwoQdDoRGWdSkr02dzAp0/s1600/ATS_Annual+Reset+Strategy.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1280" data-original-width="1600" height="256" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEin53x1YgW02L9JLXJugDtRdDY0r_1N1cu3OCZfKHOkIr9DUPMxfaJduN0kEVUfJrmowTxV4cXUOzN3C6rdLS9qGnwoBy1YGXEbvXSHj18uAEHqRfk8WL3_7P-MwoQdDoRGWdSkr02dzAp0/s320/ATS_Annual+Reset+Strategy.jpg" width="320" /></a><br />
Stocks are way up. Gold is up. Bonds are up. The real estate market is blistering hot. These simultaneous gains should worry us all. Are there distortions in the marketplace? Bitcoin has tripled this year. There is a sort of goldilocks environment in the market right now with a tremendous amount of complacency amongst money managers. Unemployment is at a 16 year low. <br />
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Should we be scared? If you have significant money exposed to market risk you must learn from the lessons of the past. Time to preserve, protect, and defend the nest egg. <br />
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<br />Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-90942606974272410152017-06-18T07:53:00.001-07:002017-06-18T07:53:28.138-07:00Happy Fathers Day Happy Fathers Day!Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-61077080941532206852017-06-17T23:29:00.001-07:002017-06-17T23:37:53.526-07:00Confessions of a CPA<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4ZZYO8TFO8Zo40HKWhef_T7PWf9b1hX4Gw7SpF9vgzwPpxlT38SAiHUZ0GnYWexZeRgnfu-Ba5jgLbqmQ1Cu7XoDjfym6a-YKWDVYgbKgBm30HvaJ_AhTIY5nRHVD4QHxfHPJwdzAAleM/s1600/PDP0606403.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4ZZYO8TFO8Zo40HKWhef_T7PWf9b1hX4Gw7SpF9vgzwPpxlT38SAiHUZ0GnYWexZeRgnfu-Ba5jgLbqmQ1Cu7XoDjfym6a-YKWDVYgbKgBm30HvaJ_AhTIY5nRHVD4QHxfHPJwdzAAleM/s320/PDP0606403.JPG" width="320" /></a></div>
How are some CPAs turning their practices on a money making machine? Attend a very informative webinar June 30th to learn more: Here is the webinar link:<br />
<a href="https://attendee.gotowebinar.com/register/3488028398746072066">https://attendee.gotowebinar.com/register/3488028398746072066</a>Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-75863187211195378182017-06-17T23:26:00.000-07:002017-06-17T23:26:19.000-07:00View of Downtown SD from home <div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhIyiKhsIKRh1ruoBbxJHH3sYo_Jw-CGLztkQUuCoFw2yguaQ_6pgsh1YUdBUDy6ck9cGC4qcCHn3VZc-o_6ZQcimm_3FUU3T6NOaU2e3t6zS3W33LYOrh3qj5oEl8KL_lGPBqkvPFSsetH/s1600/IMG_0482.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="480" data-original-width="640" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhIyiKhsIKRh1ruoBbxJHH3sYo_Jw-CGLztkQUuCoFw2yguaQ_6pgsh1YUdBUDy6ck9cGC4qcCHn3VZc-o_6ZQcimm_3FUU3T6NOaU2e3t6zS3W33LYOrh3qj5oEl8KL_lGPBqkvPFSsetH/s320/IMG_0482.JPG" width="320" /></a></div>
<br />Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-21810036339456023272017-06-17T20:27:00.001-07:002017-06-17T20:27:14.032-07:00Markets Rise in Lockstep Stocks, bonds, gold, and bit-coin, assets that rarely move in unison - have all been surging this spring, and leaves investors confounded about how to play the market right now - in the days ahead we will explore the topic. Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-49971273545279852692017-06-08T20:30:00.003-07:002017-06-08T20:30:31.506-07:00The Tax Practice of the Future <div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj_aqOFigHc4ol1KAxG-G55Gslk1dH3Opq-dCFuPx-7zAwpj3ZKvL_SAvoaHeRA1nVldEeHRr-cbbL3j993AeVxPUGO99QIwAk7D12R1k1ghpg0dEIUw8biq_rEo01HRGs-h1GlzqpWmE7x/s1600/The+Tax+Practice+of+the+Future+Book+Cover_V6_Page_1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1600" data-original-width="1067" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj_aqOFigHc4ol1KAxG-G55Gslk1dH3Opq-dCFuPx-7zAwpj3ZKvL_SAvoaHeRA1nVldEeHRr-cbbL3j993AeVxPUGO99QIwAk7D12R1k1ghpg0dEIUw8biq_rEo01HRGs-h1GlzqpWmE7x/s320/The+Tax+Practice+of+the+Future+Book+Cover_V6_Page_1.jpg" width="213" /></a></div>
<br />Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-56131467532021402502017-06-08T20:26:00.001-07:002017-06-08T20:27:50.518-07:00CPA Meeting in Tyson's Corner Virginia Great meeting coming up to train CPAs on how to eliminate heavy, immediate, and unnecessary taxation on retirement accounts. Interested in attending Tuesday June 13th? Call Priscilla at 1-866-225-1786 ext. 315Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-25767025225202300652017-06-08T20:19:00.001-07:002017-06-08T20:22:04.866-07:00National Recruiting Director Great position open for the right individual. National Director of CPA and Advisor Recruiting. Call Larisse Gonzaga at 1-866-225-1786 ext. 302. Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-85608427404796757352016-08-12T15:29:00.001-07:002016-08-12T15:29:49.567-07:00Simplifying IRA Lingo<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivxbn8KQYAaLI6LwDrgaipx-MwYp48uBcIpuQfkhiOHL4qfTPkLD-v_mixGFNLNMaeAuAfpCkOseNf2bwA_G5gj3FZFvifqv5xPY3NyT20VNfzwEuxLYsj6v9vV-t9lAN-rXJgwx9j9HKD/s1600/IRA_Blowing+Money.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="233" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivxbn8KQYAaLI6LwDrgaipx-MwYp48uBcIpuQfkhiOHL4qfTPkLD-v_mixGFNLNMaeAuAfpCkOseNf2bwA_G5gj3FZFvifqv5xPY3NyT20VNfzwEuxLYsj6v9vV-t9lAN-rXJgwx9j9HKD/s320/IRA_Blowing+Money.jpg" width="320" /></a></div>
<span style="font-family: Arial,Helvetica,sans-serif;"><span style="font-size: small;">Sometimes terminology gets confusing with respect to IRAs. Here are just a few definitions of IRA terms and concepts that are commonly asked about: <br /><b><br />RBD:</b> The Required Beginning Date or RBD is the date that required minimum distributions must begin for all IRA owners, which is April 1st of the year following the year an owner turns 70½. If your RBD happens to fall on a holiday or weekend, the RBD will be the following business day.<br /><br /><b>RMD:</b> The Required Minimum Distribution or RMD is the minimum amount an IRA owner must withdraw each year from an IRA after his or her RBD. An IRA owner can always take out more than the RMD. There are no RMDs for owners of Roth IRAs but beneficiaries of inherited Roth IRAs are still subject to RMD rules.<div class="separator" style="clear: both; text-align: center;">
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<b>ROLLOVER:</b> A rollover is when assets are withdrawn from a retirement plan and then re-deposited into the same or other eligible plan. This is a reportable transaction for an IRA owner and it must be completed within 60 days. There is a 1 per year limit regardless of how many IRAs you have.<br /><b><br />TRUSTEE-TO-TRUSTEE TRANSFER:</b> This is a transfer of IRA funds that are sent, usually electronically, from an IRA and received directly by another IRA. Unlike a rollover, there is no limit to the number of trustee-to-trustee transfers each year. <br /> CONVERSION: A conversion is when a traditional IRA (or SEP or SIMPLE IRA) is changed into a Roth IRA. The character of the funds is changed and income taxes will become due on the converted amount in the year of the conversion. <br /><b><br />RECHARACTERIZATION:</b> The term recharacterization is used when referring to a traditional IRA that has been converted to a Roth IRA but the owner wants to “undo” the conversion. Recharacterization is also used to refer to a Roth IRA contribution that an owner wishes to change into a traditional IRA contribution. <br /><b><br />RECONVERSION:</b> When an IRA owner converts a traditional IRA to a Roth IRA, then recharacterizes it to “undo” that conversion, but later decides that the conversion to a Roth IRA was a good idea after all, the traditional IRA is now going to be reconverted from a traditional IRA to a Roth IRA. *You cannot convert and reconvert during the same tax year or, if later, during the 30-day period following a recharacterization. If you reconvert during either of these periods, it will be a failed conversion.</span></span><div class="separator" style="clear: both; text-align: center;">
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Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-89521068620531800832016-07-18T13:00:00.000-07:002016-07-18T13:00:30.134-07:00How “Safe” Is Your CD?<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyufkTtI5Oic9c1El8LzHXM9MwTsGZMDyC9WYZAhV8CnoaiGl0NCYRC2oPGuk31s8udooNIb2bZMsmmfnDvLG8PJ9ZSZkTpHVT5bMw0CLXI_8gSTWUOz_7qhYLw1beN42cI7W-x4xAz42k/s1600/How+Safe+is+your+CD.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyufkTtI5Oic9c1El8LzHXM9MwTsGZMDyC9WYZAhV8CnoaiGl0NCYRC2oPGuk31s8udooNIb2bZMsmmfnDvLG8PJ9ZSZkTpHVT5bMw0CLXI_8gSTWUOz_7qhYLw1beN42cI7W-x4xAz42k/s1600/How+Safe+is+your+CD.jpg" /></a>Certificates of deposit (CDs) are intended for the ultra-conservative investor. Why are they appealing to so many? They are touted as the “safe” investment option with essentially no risk as they are not tied to the stock market. However, how “safe” are they really if, when you do a little math, you are actually losing out on money due to inflation and taxation?<br />
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Here are the hard facts: <br />
• For the past 7 years in a row, the average six-month CD rate has been less than 1%.<br />
• For the past 7 years in a row, CDs have earned a negative “real” return.<br />
• CDs have had a negative “real” return for 16 out of the past 30 years.<br />
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Knowing the truth about CDs is very important. You can lose purchasing power with a CD when you factor in inflation and taxes. Most banks don’t talk about this aspect and we believe CD owners have a right to know what they really own. The bottom line is, “safety” doesn’t matter a whole lot if your overall rate of return is negative. The “real” rate of return on a CD requires you to factor in inflation (based on the Consumer Price Index [“CPI”]) and your real tax rate. <br />
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To find out the truth about your CD and other safe options that are available to consumers, give your retirement distribution expert a call for a complimentary evaluation. This is your hard earned money and you should keep it!Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-72251458327961238022016-07-08T09:15:00.000-07:002016-07-08T09:15:57.019-07:00IRA Custodians: What You Need to Know
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<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBEDHsU6vqak6Z81VVimD9Q1cnPNxwbwmWbsFnkzucMCWyST3Nm57Vgzmyu5UfSut6U_VGD_YZMB4H8LYhmxPtVI0DkNpJvnwIEVYQe9CiASLqtku9mjQz3blfB00oZ_x2jWkPHhC6Qbp6/s1600/Questions-In-a-Bottle.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBEDHsU6vqak6Z81VVimD9Q1cnPNxwbwmWbsFnkzucMCWyST3Nm57Vgzmyu5UfSut6U_VGD_YZMB4H8LYhmxPtVI0DkNpJvnwIEVYQe9CiASLqtku9mjQz3blfB00oZ_x2jWkPHhC6Qbp6/s1600/Questions-In-a-Bottle.jpg" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWxpCkfIK_kGzX9DZrd3STE0X4x-zLanGIDT3HWBBYeThCmvVndwvKIhVyjdS4DeWfOBjRohoZYs7v0bNXWlVhmD4X1aU3-FP4hZY9_9uU0P7foWm4hW5EZYcF2HZ6BefhuFwrVAU3iohp/s1600/Questions-In-a-Bottle.jpg"><span style="color: blue; mso-no-proof: yes; text-decoration: none; text-underline: none;"></span></a><span style="font-size: small;">Although the IRS has set forth
the duties required of non-bank trustees in Internal Revenue Code Section
408(a)(2), not all custodians are regulated by the IRS. Some custodians
don’t even ensure that an IRA complies with the law. When there is a
problem, a court often sides with the errant custodian. If IRA custodians
can be let off the hook so easily, what’s an investor to do?</span><br />
<span style="font-size: small;">
</span><br />
<span style="font-size: small;">
</span><span style="font-size: small;">IRA owners expect that the custodian they hire will prevent them from
engaging in prohibited transactions and help them satisfy other requirements
such as taking annual RMDs. We are now seeing that some custodians don’t
do those things at all. To the contrary, some self-directed IRAs being touted
on the Internet are even promoting transactions that could be interpreted as
self-dealing (and in violation of the law).</span><br />
<span style="font-size: small;">
</span><br />
<span style="font-size: small;">
</span><span style="font-size: small;">There is one thing clients can be sure of...if an IRA is scrutinized by the
IRS and found to be in violation, it is not usually the custodian that will be
on the hook. If the IRA is disqualified, it will result in a taxable
distribution of the entire account and the IRA owner will be subject to taxes
and possible early distribution penalties.</span><br />
<span style="font-size: small;">
</span><br />
<span style="font-size: small;">
</span><span style="font-size: small;">As part of your overall retirement planning checkup, make sure your IRAs are
with custodians who allow beneficiary flexibility. If your custodian doesn’t
offer what you want, consider finding a custodian who is multi-generational
friendly. </span><br />
<span style="font-size: small;">
</span><br />
<span style="font-size: small;">
</span><span style="font-size: small;"><b>IRA Custodians: Some General Areas of Questioning</b></span><br />
<span style="font-size: small;">
</span><span style="font-size: small;"><u>Entity Details</u></span><br />
<span style="font-size: small;">
</span><span style="font-size: small;">Who are you (bank, brokerage firm, nonbank trust company) and how are you
regulated? How are you insured (<i>FDIC, SIPC</i>)? Do you have
errors-and-omissions insurance? Are you audited? How and by what entity? When
was the last audit completed?</span><br />
<span style="font-size: small;">
</span><br />
<span style="font-size: small;">
</span><span style="font-size: small;"><u>Accounts</u></span><br />
<span style="font-size: small;">
</span><span style="font-size: small;">How are accounts managed? How are investments processed?</span><br />
<span style="font-size: small;">
</span><br />
<span style="font-size: small;">
</span><span style="font-size: small;"><u>Costs</u></span><br />
<span style="font-size: small;">
</span><span style="font-size: small;">What are your fees? Do your annual fees include all charges, or are there
any hidden fees for transactions or for administration costs or uninvested
cash? Do you charge based on each transaction, or on the value of the account?</span><br />
<span style="font-size: small;">
</span><br />
<span style="font-size: small;">
</span><span style="font-size: small;"><u>Forms</u></span><br />
<span style="font-size: small;">
</span><span style="font-size: small;">Do you require your own beneficiary form, or will you accept as valid a
detailed, customized beneficiary designation created by an attorney or advisor?</span><br />
<span style="font-size: small;">
</span><br />
<span style="font-size: small;">
</span><span style="font-size: small;"><u>Distributions</u></span><br />
<span style="font-size: small;">
</span><span style="font-size: small;">In the event of death, will you permit beneficiaries to receive payments over
the period permitted by tax law and IRS rules and regulations, or will you
mandate a shorter payout period?</span><br />
<div class="MsoNormal">
<br /></div>
Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-31153024134003240392016-06-30T09:01:00.000-07:002016-06-30T09:02:20.876-07:00Do You Trust Your Trust?Trusts certainly have their place in estate, wealth management and retirement planning but consumers need to be aware that not all trusts are created equal.<br />
<br />
The Tax Court has held that several trusts were not legit trust vehicles and ordered that they be disregarded for Federal income tax purposes. If the taxpayers sought professional advice from a trust organization, how could this have happened?<br />
<br />
In <i>Vlach v. C.I.R. (T.C. 2013) 105 T.C.M. (CCH) 1690</i>, the taxpayers were a married couple and the husband had a medical practice. Dr. Vlach was concerned about protection of his business assets and decided to purchase a trust package from a trust firm representative who presented at a seminar he attended.<br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj6wcqexKw058DNsnmUBHBtE2JEN0T7CZlv6QJZ_SI3Jtr_5KI3-hiBgXl9Mnw71np6td2GpgKSF2ujyAHgtug87qySVQcR79otkxraOoFmBDHXVHFKxUlZwzq3ASJ0ojrn2fCiZswksSIp/s1600/Do-You-Trust-Your-Trust.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj6wcqexKw058DNsnmUBHBtE2JEN0T7CZlv6QJZ_SI3Jtr_5KI3-hiBgXl9Mnw71np6td2GpgKSF2ujyAHgtug87qySVQcR79otkxraOoFmBDHXVHFKxUlZwzq3ASJ0ojrn2fCiZswksSIp/s1600/Do-You-Trust-Your-Trust.jpg" /></a><br />
Unfortunately, the representative had been involved in abusive trust promotions and practices. Dr. Vlach and his wife only became aware there was a problem with their own trusts after receiving tax deficiency notices from the IRS.<br />
<br />
Although the Vlatches insisted the trusts were not created for purposes of tax avoidance and contended that the trusts were created for purposes of asset protection, the Tax Court disagreed. The Court stated that “Evidence of such tax-avoidance objectives is reflected in the operation of the trusts.” (Emphasis added). The Court further stated that the trusts “…were shams, lacking economic substance, and are to be disregarded for Federal income tax purposes.”<br />
<br />
Does this mean all trusts are potentially bad? Of course not! The lesson to be learned from this case is to do a little due diligence when deciding who you want to hire to draft your trust. Be cautious about purchasing a “trust package” from an organization or firm you are unfamiliar with.<br />
<br />
It is important that you find a suitable attorney or firm who can handle your needs (especially if you have a complicated estate). There are many great trust attorneys and firms that can help you!Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-84197870617660258312016-06-27T15:54:00.000-07:002016-06-27T15:57:29.631-07:00Most Retirement Planners Ask the Wrong Question<style>
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</style>Many people within striking distance of retirement are focused on one question: what’s my number?<br />
<br />
It centers around the idea of how much money you will need to have squirreled away by the date you stop working to continue to provide you with enough income for the rest of your life.<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgRIlbz7l-W_QmA3mKaUP5O89FaNQ-f00UmVWiT3Aju62Y29fGWMKvYhiXJ8wmkYhVzGSqDUAkdKV6cw9HUQa0bmFmT13SArUYDKQ9Ui1Byjq5YlAw-hgBiWeSyR3JgRszikRLykQuP4bXi/s1600/when_to_retire.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"></a><br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgRIlbz7l-W_QmA3mKaUP5O89FaNQ-f00UmVWiT3Aju62Y29fGWMKvYhiXJ8wmkYhVzGSqDUAkdKV6cw9HUQa0bmFmT13SArUYDKQ9Ui1Byjq5YlAw-hgBiWeSyR3JgRszikRLykQuP4bXi/s1600/when_to_retire.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgRIlbz7l-W_QmA3mKaUP5O89FaNQ-f00UmVWiT3Aju62Y29fGWMKvYhiXJ8wmkYhVzGSqDUAkdKV6cw9HUQa0bmFmT13SArUYDKQ9Ui1Byjq5YlAw-hgBiWeSyR3JgRszikRLykQuP4bXi/s320/when_to_retire.jpg" width="320" /></a>People should instead be focusing on the different question: “what’s my paycheck?” That is, they should be looking at the income they will be getting, rather than how they will be drawing down from the lump sum they've been accumulating. By asking the paycheck question they may be better off both emotionally and financially for several reasons.<br />
<br />
When people spend their life building up a capital base, it makes them uneasy to see the balances of their investment accounts go down. While intellectually they may understand that this money was accumulated for this very purpose, it still may be difficult for them to watch the erosion of the capital base that they have spent their whole life building up.<br />
<br />
The paycheck method solves this problem because you don’t think about the ups and downs of your capital base when you frame it as getting a regular monthly “salary.”<br />
<br />
Even if you hit your lump sum number, you still need to plan for large one-time expenses such as a new car, your child’s wedding, or unexpected health expenses. Once you have hit this lump sum “number” of cash and not prepared for more, you will clutch it even tighter every time you have a major expense at home. But with the paycheck approach, you’ll plan your budget based on the money you will receive each month, and not focus on what you will need to take from your lump sum each month.<br />
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-53005042523152080162016-06-24T07:32:00.000-07:002016-06-24T07:32:07.384-07:00Stock BlundersWhen it comes to stocks, big blunders can be devastating. Big mistakes picking stocks can be nearly impossible to bounce back from. Why?<br />
<br />
It's really a mathematical exercise. Here's an example. If you buy a stock for $100/ share and it falls to $60 a share that's a bruising 40% loss. Some investors assume a 40% gain would erase that loss. That's not true, unfortunately. A 40% gain would only get you back to $84 a share. To get back even after a 40% loss an investor would need a 67% gain.<br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsoxgoouEKzFaCX1EOwyMQdGDnKoDX7fI4cIywG8O17P4m4Y1uDGzm7U3e-OtyA6idB0ytFZ9PRo6Uy1qTYpWzqc3-UEAqqZjuBfybxC2Uqebu793kUmYMEmAPV399SkeALhpJZ3aT0Fb0/s1600/Stock-Price-Drops.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsoxgoouEKzFaCX1EOwyMQdGDnKoDX7fI4cIywG8O17P4m4Y1uDGzm7U3e-OtyA6idB0ytFZ9PRo6Uy1qTYpWzqc3-UEAqqZjuBfybxC2Uqebu793kUmYMEmAPV399SkeALhpJZ3aT0Fb0/s1600/Stock-Price-Drops.jpg" /></a>Climbing back from stock losses is extremely difficult due to the harsh reality of math. That's why investors picking individual stocks need to be extra careful in not allowing losses to get so big that they are nearly insurmountable.<br />
<br />
The sheer difficulty of coming back from a big market loss isn't just theoretical. A study of actual returns of the Standard & Poor's 500 stocks bear out how investors who get hammered with a big loss have such a difficult time coming back. What does all this mean? For the average investor it means avoiding the loss in the first place is the key to success. A wise investor should be willing to give up some of the upside of the market in return for downside protection.<br />
<br />
The world of fixed indexed annuities (FIAs) offers exactly that. The opportunity to have 100% downside protection in return for a smaller portion of the upside return is the main value proposition of an indexed annuity.<br />
<br />
There are three miracles of indexed annuities:<br />
<br />
<ol>
<li>No loss of principal</li>
<li>Ability to reset and measure gains from the low point of the index annually.</li>
<li>The Ability to capture and lock-in all gains annually.</li>
</ol>
<br />
The advantage of a fixed- indexed annuity is that you can't lose your principal, regardless of indexed performance unless during the early withdrawal period you withdraw your money by surrendering your contract. With FIAs, your clients can have their cake and eat it too.<br />
<br />Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-10751967563687655592016-06-22T07:35:00.001-07:002016-06-22T07:35:08.779-07:00Retirement Plan Still Working Exception<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEievqngmtfL7eARSXwXFsM8izx0A5PbGExSWFt7Qu4jAS8C3byE-I2egqGjnWsBWEw7ECBtftir8jV4Fjl6cPErtQ4m7ykYymyHgsINZ9VdOV_404F1Qfo1WnpuuRuG22QZPJdehbJou-qm/s1600/picture+for+blog.png" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="163" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEievqngmtfL7eARSXwXFsM8izx0A5PbGExSWFt7Qu4jAS8C3byE-I2egqGjnWsBWEw7ECBtftir8jV4Fjl6cPErtQ4m7ykYymyHgsINZ9VdOV_404F1Qfo1WnpuuRuG22QZPJdehbJou-qm/s320/picture+for+blog.png" width="320" /></a>If you have a qualified employer retirement plan, you generally need to start taking your required minimum distributions (RMDs) no later than April 1st of the year following the year you turn 70½. This is your required beginning date or RBD. Certain employer retirement plans, however, may have a “still working exception” for their employees who reach 70½ but are still actively working for that employer.<br />
<br />
An employee who is over 70½ years old, still working for the company and doesn’t own more than 5% of the business may elect to delay his/her RBD for taking RMDs until April 1st of the year following the year the employee retires. It’s important to note that employer plans may offer this option but they are not required to offer a still working exception.<br />
<br />
Assume you have a 401(k) and the plan permits a still working exception, an option you have elected. Now assume you are 73 years old and you decide to retire in July this year. Your retirement immediately triggers your RBD as April 1, 2017 - your RMD requirement begins the instant you retire.<br />
<br />
In this example, if you chose to delay your first RMD and do not take it until, say, February 2017, you will still need to take your 2017 RMD by December 31st next year. <br />
<br />
<i>*There is no “still working exception” for IRAs, Simple IRAs or SEP IRAs.</i><br />
<div>
<br /></div>
Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0tag:blogger.com,1999:blog-128277060173748541.post-40250457132688913132016-06-20T07:55:00.000-07:002016-06-20T07:55:04.641-07:00Portfolio Protection<div align="center" class="MsoNormal" style="text-align: center;">
<i><span style="font-size: large;">Will the Wolf
Destroy a Lifetime of Hard Work?</span></i></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<br /></div>
<div class="MsoNormal">
As a financial service professional, you take upon yourself
the role of helping your clients build their financial futures. Undoubtedly,
during your years of training for this demanding profession you have come
across the financial planning pyramid (at least one of MANY versions) used by
financial advisors to explain the concept of asset protection and financial
priorities.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiB-rQpiBvlnUPBLkbQH46i6UWMES3TtQe-EQVoiyS0qWo6GTA8nRyg87dLB_GmflvbRfx-6vKOyuloG1EimCHyPJXFoTwmmvvL0e4S96cSEHqYvDEBZC7Fba2HHSuYynzUPvAEkx0xN3gJ/s1600/95298236.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiB-rQpiBvlnUPBLkbQH46i6UWMES3TtQe-EQVoiyS0qWo6GTA8nRyg87dLB_GmflvbRfx-6vKOyuloG1EimCHyPJXFoTwmmvvL0e4S96cSEHqYvDEBZC7Fba2HHSuYynzUPvAEkx0xN3gJ/s1600/95298236.jpg" /></a>As you will recall, the foundation of the financial pyramid
is protection yet many clients’ portfolios are completely unprotected from the
“4 Risks of Retirement.” Those risks are:</div>
<div class="MsoNormal">
</div>
<ul>
<li>Longevity Risk</li>
<li>Interest Rate Risk</li>
<li>Market Risk</li>
<li>Tax Risk</li>
</ul>
<br />
<div class="MsoNormal">
As a financial service professional, you take upon yourself
the role of helping your clients build their financial futures. But many
advisors have not dealt with the wolf that lurks in the shadows, the 5th risk
to retirement…the financially devastating effects of expenses stemming from
Long-Term Care (LTC).</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Many top advisory firms are taking a fresh look at a better
way to assure the foundation of protection is secured before discussing
investing. Today we know that less than 10.7% of Americans have the correct
protection in place to deal with the wolf. So are we suggesting you sell<o:p></o:p></div>
them
LTC insurance? Nothing could be farther from the truth! In fact, we are not
fans of LTC insurance and don’t believe it’s the best option for dealing with
and managing risk.<br />
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Advisors need to take this growing LTC risk seriously. Not
only is the client’s portfolio at risk from an LTC illness they (or a spouse)
may suffer, but an advisor’s income is in jeopardy. How? Clients begin to
withdraw hundreds of thousands of dollars out of accounts that are being
managed by the advisor to deal with this uninsured risk. This is portfolio
protection for the client and it is portfolio protection for the advisor!<o:p></o:p></div>
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There are two questions every financial professional should
ask clients:<o:p></o:p></div>
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1) You may never need care, but if
you did, how will that affect your family, spouse, adult children, family
dynamics and finances?<o:p></o:p></div>
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2) If you need care, how will you
pay for it?<o:p></o:p></div>
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Today there are NEW solutions to the catastrophic problem of
a Long-Term Care event. This solutions allows clients to reposition and
leverage an existing asset, typically money in CDs, savings, annuities, IRAs or
retirement plan funds, as a guaranteed single premium.<o:p></o:p></div>
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We have found that many advisors don’t feel comfortable
discussing these gaps in protection with clients so they simply never raise the
issue. But what about the likelihood that 70% of those reaching 65 will experience
an LTC event before age 85 that will last, on average, 3.9 years and cost
$100,000 per year?<o:p></o:p></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaFJGlprQHBq8qOzvCYI966iM1tk6xUp1_Gx_WLGa0TryWqzAzFTyK9n0RUvhi9vdH0IH9NDATYMrATb6n7XQn3gNoUfrUUyLlQC-HEz4_49nNYKVOZJODxAQ5IWMiOb1YETl-U0EJ2ImG/s1600/original.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="214" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaFJGlprQHBq8qOzvCYI966iM1tk6xUp1_Gx_WLGa0TryWqzAzFTyK9n0RUvhi9vdH0IH9NDATYMrATb6n7XQn3gNoUfrUUyLlQC-HEz4_49nNYKVOZJODxAQ5IWMiOb1YETl-U0EJ2ImG/s320/original.jpg" width="320" /></a></div>
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Our Elite Marketing Program can help you articulate this
problem and motivate prospects and clients into taking action. This solution
can help safeguard a client’s assets by providing income tax free money to
handle LTC expenses in their own home or in an assisted living facility.<o:p></o:p></div>
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Additionally, should the client’s needs change or the client
simply changes his/her mind at any time, the client can request a full refund
of the single premium.</div>
<ul>
<li>Special Highlights of this Solution:</li>
<li>This is Not an LTC Policy</li>
<li>Premiums are 100% Guaranteed - No Risk of Increase</li>
<li>Joint Life Coverage</li>
<li>Lifetime Benefits</li>
<li>Qualified Money Allowed</li>
<li>Turn Highly Appreciated Non-Qualified Annuities into
Tax-Free Money</li>
</ul>
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Helping your clients protect their assets and prepare for
the future is essential as 10,000 Baby Boomers retire each month. By addressing
this critical LTC risk, you will open new doors of opportunities and unearth
new clients, creating new revenue streams. This will also differentiate and
grow your practice, protecting it in the long term.<o:p></o:p></div>
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Top advisors are asking their clients these questions and
adopting these new strategies – shouldn’t you too</div>
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Table Bay Financial Network is America’s Premier FMO
combining preferred products, unparalleled marketing and world-class training
designed to drive and increase revenue while drastically cutting marketing
costs. Call us.</div>
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<o:p></o:p></div>
Barry Bulakiteshttp://www.blogger.com/profile/03134773303887118593noreply@blogger.com0