The Software that Tells the Whole Truth about All Things Financial

The Staggering Impact of Taxes On Investment Returns

The Staggering Impact of Taxes On Investment Returns
The purpose of this post is not to make any kind of political statement.  We are not trying to say one side is right or one side is wrong.  The purpose of this post is to simply show mathematically something that politicians should understand.  More importantly, you as a financial professional should understand this because the impact of taxation on our wealth is sign… Continue Reading

How To “Retire” With Enough Money, Plus a $4,588,332 Cushion (John & Jane Jones Pt. 9 of 9)

How To “Retire” With Enough Money, Plus a $4,588,332 Cushion (John & Jane Jones Pt. 9 of 9)
Time has a way of flying by. John and Jane were now 71 years old. This meeting was going to be one of the most important meetings I would ever have with them. This meeting was certain to prove to them that following my advice all these years was going to pay off. As a result, I did a little extra preparation for the meeting by gathering information about the current cash values of… Continue Reading

Why You Shouldn’t Retire, You Should Retool (John & Jane Jones Pt. 8 of 9)

Why You Shouldn’t Retire, You Should Retool (John & Jane Jones Pt. 8 of 9)
“I am ready to retire,”  John was quick to state at the beginning of our annual meeting. There were several things I wanted to talk to John and Jane Jones about this year since they would be soon turning 60.  But when I heard John say this, my plans for the meeting took a back seat. “Are you serious?”  I asked John.  “Do you think you are re… Continue Reading

How Much Does College Really Cost? (John & Jane Jones Pt. 7 of 9)

How Much Does College Really Cost? (John & Jane Jones Pt. 7 of 9)
John and Jane met with me regularly, mostly to touch base about their progress as they improved their financial position, or to discuss potential investments. But when their oldest son, Todd, turned 16, we met to discuss a major item that impacted their entire family. Both John and Jane were now 48 years old. During my telephone call to set a time and date for our meeting, J… Continue Reading

How to Calculate Rate of Return On A Real Estate Investment (John & Jane Jones Pt. 6 of 9)

How to Calculate Rate of Return On A Real Estate Investment (John & Jane Jones Pt. 6 of 9)
“Hello, this is John Jones.  I know we have called a number of times with ‘opportunities’ but this time I think we really have one,” John said excitedly as I answered the telephone early Monday morning before my first appointment. “That is good news,” I said.  “Do you want to tell me about it over the telephone or come in fo… Continue Reading

Saving For Kids and Avoiding The MEC Limit (John & Jane Jones Pt. 5 of 9)

Saving For Kids and Avoiding The MEC Limit (John & Jane Jones Pt. 5 of 9)
One week earlier….. “Hello, John how is your day going?”  I initially said when I called. “Just fine, thanks,” John responded.  “I know why you are calling; it has been a few years since we have been able to get together and we need to speak with you because we have been having some big changes in our family.  Jane and I have been meanin… Continue Reading

15-Year vs 30-Year Mortgage: Which is Better? (John & Jane Jones Pt. 4 of 9)

15-Year vs 30-Year Mortgage: Which is Better? (John & Jane Jones Pt. 4 of 9)
“I am so glad you two were willing to come back so soon after our third meeting,” I greeted John and Jane as they came into the office.  “There are a number of things I want to discuss with you, but before I do, do you have any questions?” “As a matter of fact, we do have something we wanted to talk to you about.  Since our meeting last week, Jan… Continue Reading

The Whole Truth About Qualified Plan Contributions (John & Jane Jones Pt. 3 of 9)

The Whole Truth About Qualified Plan Contributions (John & Jane Jones Pt. 3 of 9)
Mark Twain reportedly said that he tried to not let his schooling get in the way of his education.  I think he was describing a paradox similar to what most advisors know as the “arrival syndrome.”  Said in yet another way, your education should be an ongoing process.  Such is the case with your clients.  We recommend that you schedule regular discussions to… Continue Reading

The Myth of Zero Percent Financing for Cars (John & Jane Jones Pt. 2 of 9)

The Myth of Zero Percent Financing for Cars (John & Jane Jones Pt. 2 of 9)
Both Jane and John Jones were smiling as they walked into my office for the second meeting with them.  The first meeting had gone well and I was excited to meet with them. After a few minutes of catching up and pleasantries, I asked John, “If you were talking to a good friend and they asked what our office was doing for you, what would you tell them?” John was cont… Continue Reading

How $155 in Credit Card Debt Becomes $38,850 In Payments! (John & Jane Jones Pt. 1 of 9)

How $155 in Credit Card Debt Becomes $38,850 In Payments! (John & Jane Jones Pt. 1 of 9)
In the movie Mr. Mom, Jack (Michael Keaton) is fired from his job as an automobile engineer.  Jack’s wife, Caroline (Teri Garr) lands a job before he can, so Jack takes on what he believes is the easy job of homemaker and caretaker. The movie has many humorous scenes. One particular scene Caroline’s boss comes to pick her up for a business trip.  Jack does no… Continue Reading

How do you include the state income tax for capital gains tax?

Increase your capital gains rate box by the state income tax rate. Increase your state income tax rate is 7% and your clients’ federal capital gains tax rate is 15%, then you’ll put 22% in your capital gains rate box. Please note: there is not a federal capital gains tax deduction for the state income tax paid as there is for federal income tax.  See t… Continue Reading

Is it true there is a difference in a Life Insurance company’s “in advance” or “in arrears” loan rate?

The answer is NO. The insurance companies have really confused this issue ( In Advance vs In Arrears) because they mistakenly call it a “rate” when it is not. The in Advance “rate” should be called a factor because all it is for is to multiply the loan amount by to determine the payment when made up front. Any loan balance is charged the In Arrears r… Continue Reading

The 7 Figure Success Secret of Top Producers

The 7 Figure Success Secret of Top Producers
“Success leaves clues.” ~ Tony Robbins Question: What do — Patrick Donohoe, founder of Paradigm Life, one of the largest U.S. financial services firms that focus on whole life insurance, Michael Isom, a seven-figure wealth advisor and co-author of What Would the Rockefellers Do?  Garrett Gunderson, New York Times best-selling financial auth… Continue Reading

Busting the Life Insurance Lies

Busting the Life Insurance Lies
We’re Launching a New Book… and It’s Our Gift! My wife, Kim Butler, and our friend, Jack Burns, have joined forces to write what just may be the definitive book about whole life insurance: Busting the Life Insurance Lies: 38 Myths and Misconceptions that Sabotage Your Wealth. This book is written for every American who’s gotten conflicting a… Continue Reading

The Value of Asking Questions

The Value of Asking Questions
  “Judge a man by his questions rather than his answers.” ~ Voltaire One of the things that we cover quite a bit covered quite a bit in our training is the value of asking questions. When we as advisors can ask our clients questions and get them to think about the answer, it will transform our ability to educate our clients and to motivate them to take action. SilenContinue Reading

The Four-Year Plan

The Four-Year Plan
The Growing Cost of College Isn’t Usually This Funny… Unfortunately, the four-year “plan” for most college students is to take out a lot of student loans and graduate without a workable strategy for getting OUT of debt (or out of the house!) This too-true video is hilarious, though it may hit a little too close to home for some… Feel free… Continue Reading

Clarifying Mortgage Interest Deductibility

Clarifying Mortgage Interest Deductibility
On a mastermind call with Summit attendees a few months ago, Kim Butler asked Todd Langford to share about some misconceptions about mortgage interest deductibility, and the truth of the matter. We had this portion of the call transcribed and thought it might be helpful to you, too! Kim:  Todd is going to share a little bit about the deductibility of mortgage interest dis… Continue Reading

We Caught “The Whole Truth” on VIDEO!

We Caught “The Whole Truth” on VIDEO!
On February 10, 2016, we put on a special full-day event in Birmingham, AL for advisors and their guests, “The Whole Truth About Money.” Over several hours, we analyzed popular financial vehicles with Truth Concepts software to show some of the myths and misinformation which common in “typical” financial advice. These presentations were Continue Reading

More Truth Quotes!

More Truth Quotes!
We published some “Truth Quotes” awhile back… comments and sayings compiled from a Truth Training (mostly Todd Langford’s). At a recent training in Salt Lake City, a new list of quotes heard at a Truth Training was compiled. Unless otherwise noted, the quote came from Todd Langford (although we don’t guarantee that he was the source o… Continue Reading

The Truth About Whole Life Insurance Rates of Return

The Truth About Whole Life Insurance Rates of Return
“Is Whole Life Insurance a Good Investment?” Perhaps no question has generated as much controversy on financial blogs and forums as this one. “Typical” advisors and the media-hyped financial gurus say, “Stay away from whole life insurance!” Meanwhile, many passionate agents and advisors try in vain to correct the misconce… Continue Reading

Truth Concepts Goes Online!

Truth Concepts Goes Online!
If you’ve ever wanted to use Truth Concepts when you weren’t near your office computer, you’ll love this announcement: We are now offering Truth Concepts Online as an optional addition to our full software package. It will let you use Truth Concepts on your tablet, ipad, laptop, even your smartphone. We have had many requests for an online version t… Continue Reading