Tax Planning Course

 

 

Traditional retirement planners don’t always like what I have to say but that’s what I’m here for… to get people to think a little deeper, a little harder before they make financial decisions. For example, I don’t put a lot of stock in the stock market.  It’s tied to a win-lose relationship and a lot of retirement strategies are built around this model. But hey, if it’s working for you then go for it but there are better ways to plan for retirement with built in safety and security features that will let you sleep nicely at night.

Unfortunately 98% of people in America at age 65 are far from financially self sustaining, able to live out rest of lives with what they have in their retirement accounts. My goal, is to switch that number and have 98% of us in full control of our estates, legacies and our destiny. I referenced the 401 k article in Time magazine recently and I’m still thinking a lot about it. Here’s the problem.

It wasn’t until the last few years that people started seeing that giving blind faith to financial advisors was not the best ideas in the world. Even if they appeared to be wildly successful, you know like… Prisoner # 2523 aka – Bernie Madoff.

Tax Planning Techniques - First, Dump Your 401(k)?
If you’re contributing to your 401(k) and the company is also providing some significant benefit like “matching,” then maybe it’s okay. If not, then you might want to get with your CPA, tax attorney or other trusted advisor and take a hard look at your retirement plan. The problem is often unnoticeable until the day you actually retire. If the stock market happens to be in the toilet around the start of your retirement, you’re screwed. You can’t go back, you can speed it up, you take what you get when you take it.

Here are two things to do to protect yourself from this retirement nightmare so many people have been going through lately.

1.    Evaluate your 401(k) right now. Get a hard-nosed assessment of what it’s worth, where it’s invested, and where it is guaranteed to be at your ideal retirement date.

2.    The problem with the first tip is that there is usually little “guarantee” in the typical 401(k) plan. So, tip number two is this. Look into insurance-backed products that allow you to insure or guarantee the stability of that retirement asset. This requires working with a knowledgeable and trusted life insurance agent that understands your goals.

Life Insurance as an Investment Tool
At this point many people think, “Oh, those agents are just in this for the commission!” Well we all need to get paid but the smart agent is the one who recognizes that when she helps you set up your own banking system (like we teach in our Infinite Wealth System workshops) YOU will have an INSURED retirement plan and she will have a long-term income stream because she is helping you retire rich!

If you want to know how to select the right agent or would like a referral, feel free to give me a call or drop me a note! And… do your homework and review that 401 k right away!


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
888-888-3612

P.S. Whether you are interest in tax planning courses, online investment classes, or planning your retirement, we have an individual wealth coaching program for you. There's no obligation to chat! Don't forget to sign up for our free wealth program - Wealth Principles Online.

Asset protection solutions are more important for certain types of businesses and individuals than others.  We all understand the value of insuring our homes, cars and lives but when things are going well it’s easy to forget about protecting yourself from the absurdity of pocketbook predators.  Don't let this craziness scare you because there is a solution. It's called Asset Protection Solutions!

There have been crazy cases where judges found a landlord liable for the alleged damages of another tenant’s cigarette smoke. Ridiculous awards have been made to plaintiffs for a wide variety of things that nobody in their right mind would believe is fair! I won’t waste any more time on the absurd, we all see the stories in the news so let’s just get down to protecting ourselves, our businesses and our assets with proper asset protection solutions.

Who’s at Risk?
Well, with more attorneys in this country than any place on the planet, if you’re an American, you’re at risk. But, if you’re in one of the following categories, you’re at higher risk:

• Architects
• Contractors
• Developers
• Engineers
• Physicians
• Dentists
• Medical Professionals
• Corporate Officers
• Financial Advisors
• Legal Advisors
• Real Estate Brokers/Agents
• Landlords
• Landlords
• Landlords

Oh, did I mention, landlords? It’s kind of funny in a sick kind of way. You work your tail off to find and purchase your first investment property. It takes you five years to get to positive cash flow. You net a couple hundred bucks a month and voila! You look like you’re a rich landlord with a big asset so you’re easy to spot and easy to sue! Ahhh, the joys of being a landlord.

A few weeks ago I did a post about the importance of getting all real estate out of your personal name and into appropriate operating entities that separate you from your assets and also allow you to fly a little more under the radar. Remember, if you cannot be found, you cannot be sued. Of course, you only do this in straightforward legal ways but it is possible to protect yourself better with a lower profile.

One of the asset protection solutions we teach our students in Wealth Classes Coaching is using LLCs, C corps or other entity to reduce your liability. We help our students find the state most favorable to their specific entity and then we incorporate all of these tactics into a long-term wealth building strategy that keeps the pocketbook predators at bay.

Effective asset protection solutions help to limit the ability of creditors to seize your assets or to even know where to find your assets. The typical attorney working for the plaintiff to attack your assets is going to do an asset search before she decides to take that person’s case. If there is nothing of value to be found, it’s harder for the predator to find a playmate!

If you want to learn more about asset protection solutions, give me a call for a no obligation phone consultation. Discover how my high net worth tax planning strategies and business tax write offs can put a little more cash in your pocket next year, call me for a free consultation. I sometimes joke about it but I really can spot significant tax savings opportunities for most people in a matter of minutes!

If your new to some of this wealth building talk and just want to get the basics, then you don't have to take some complicated tax planning course, just start right here with our free class called Wealth Principles Online.


Have a prosperous day!

Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
888-888-3612

P.S. Whether you are interest is reducing tax payment, setting up a small business, or creating an effective asset protection strategy, we have an individual wealth coaching program for you. Just call me! Watch this video to learn 7 Tax Saving, Money Making Tips You Can Use Today!




Disclaimer:
This information does not constitute a complete description of all or any one aspect of financial planning. There is no offer to sell or buy any financial product in this video or on our website. Please consult with a qualified financial, legal and/or tax professional before investing or modifying any aspect of your taxes, assets or finances. This information is strictly educational.