In business you must be creative and adjust to changes in technology and improvements or you will not survive. A good example of this is the vinyl record industry. A client of mine in Pennsylvania worked in this industry from 1974 until 1983. He denied the fact...
People often think that by deferring their taxes, they will have more money later in life… NOT TRUE! You will pay more tax by deferring, than by just paying as-you-go. Here is evidence of this fact: When you start withdrawing retirement income from your...
At the end of my last post called “Stop Saving Into a 401(k),” I promised to share options to save for retirement that could trump a 401(k) to provide, tax-free, vibrant funds. Here’s how to do it… Create a savings account using a “High...
Okay, I’ve said this before and I’ll say it again: Stop saving money into a 401(k). Why? I’ll use my friend who recently confessed that he just paid this year, the most income tax he’s ever had to in the last 30 years to try to explain. He...
If you purchased a specific “High Early Cash Value” kind of whole life policy from Mass Mutual, for example, all your premiums will be saved as cash values inside the policy. For example, if you were to deposit a premium of $12,000 a year into this life insurance...
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