by Jason4TC | Jan 31, 2018 | Comments Off on Is It Better to Rent A Home Or Buy?
In this article, I am going to tell you something you already know or may think you fully understand. It starts with this question—is it better to rent a home or buy? The overwhelming response to that question seems to be that it is better to purchase a house instead of renting one. Although I’m sure you answered that it is better to purchase a home, I am going to use Truth Concepts calculators to prove it to you. Don’t stop reading because you think you know it all. Stick
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by Jason4TC | Nov 15, 2017 | Comments Off on 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 significant – significant enough that positioning our money in a tax-advantaged situation is one of the most competitive advantages possessed by whole life insurance. To illustrate the
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by Jason4TC | Oct 29, 2017 | 0 Comment
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 their policies and their other assets. Their 401(k)’s had about $470,000 combined. The cash value of
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by Jason4TC | Oct 6, 2017 | 0 Comment
“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 ready to retire?” “I have no idea,” John answered. “I am making nearly $185,000 a year, which is a lot more than what
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by Jason4TC | Sep 27, 2017 | 0 Comment
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, John made a comment about how frustrated they were because of their boy. Todd was not a very serious student and his grades
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by Jason4TC | Sep 18, 2017 | 0 Comment
“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 for a sit-down meeting?” I asked. “How about tomorrow?” John asked. “We can come anytime you are available.” “I am fairly booked up, but this sounds like an important issue
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by Jason4TC | Sep 2, 2017 | 0 Comment
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 meaning to get in touch with you each time we get your email or card in the mail.” “I never want to be a pest, but
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by Jason4TC | Aug 21, 2017 | 0 Comment
“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, Jane and I have decided we need to discuss more of our financial decisions with you,” John said. “We should
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by Jason4TC | Aug 7, 2017 | 3 Comments
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 help your clients understand the whole truth about money. And, of course, we are totally biased in thinking the best way to help your clients, is by
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by Jason4TC | Jul 21, 2017 | 0 Comment
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 contemplative for a moment and then started to speak. “Well the first thing I would tell them is that you
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by Jason4TC | Jul 6, 2017 | 2 Comments
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 not want to come across as some helpless person so quickly gets in work clothes and comes into the house carrying a chainsaw. He asks
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by Jason4TC | Jun 18, 2017 | 0 Comment
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 the calculation below: This first part the software handles automatically. INCOME TAX [ezcol_1half]Federal Income Tax Rate Federal Capital Gains Tax Rate State Income Tax Rate [/ezcol_1half]15% 15% 7% [ezcol_1half_end][/ezcol_1half_end]
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by Kate4TC | May 1, 2017 | 0 Comment
You make a Summary inside the Life Insurance Values tool. First copy and paste each enforce policy (go here to see instructions: https://truthconcepts.com/513/) illustration into ONE Life Insurance Values sheet. There is room for 6 whole life and 4 term policies and if you need more, you can make a “Summary of Summaries”. You’ll want to make sure you make good “descriptions” inside the box labeled same so you know which policy is where. Then when you click the Summary button, you’ll get to choose between the 6 PLI buttons
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by Kate4TC | Apr 17, 2017 | 0 Comment
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 rate (which is an actual rate) even if the loan payment is made in advance. The reason the loan payment is less is simply
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by Kate4TC | Feb 7, 2017 | 0 Comment
In December, we announced the launch of Kim’s latest book, Busting the Life Insurance Lies, co-authored with Jack Burns and James Ranson. Below are two excerpts from the book, one from Part One. First, we include the conversation that sets up the first several lies and shows how each lie is related to real-world myths and concerns as seen through the eyes of a family. Next, we jump straight to Lie #1, “Life Insurance is a Bad Investment.” This is the first of 38 lies and half-truths “busted” in the book. A Family
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by Kate4TC | Feb 2, 2017 | 2 Comments
“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 author and Wealth Factory founder, and Kim Butler, top-producing advisor, author (and Todd Langford’s wife and lovely assistant) — all have in common? Answer: Besides their success, they have each attended MANY trainings with Todd Langford, perhaps more than
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by Kate4TC | Dec 21, 2016 | 5 Comments
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 advice on life insurance from their insurance advisor, financial planner, and the financial “gurus” on TV and radio: “Is life insurance a bad investment? Shouldn’t I just make a bundle and invest it
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by Kate4TC | Oct 27, 2016 | 3 Comments
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.
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by Kate4TC | Aug 16, 2016 | 4 Comments
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 to share this page, or click through on the YouTube icon or on this link to watch it on YouTube. Click below to see the video: https://www.youtube.com/watch?v=ZIRdST_Dc0M Use the
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by Kate4TC | Jul 16, 2016 | 3 Comments
Which is better when it comes to life insurance – direct recognition or non-direct recognition? There is a debate going on in the insurance industry… and Todd Langford sheds some light on it for us! In case you’re not familiar with the debate, we’ll share this description from a previous post on the topic: There are two different methods insurance companies use to handle the loaned cash value — direct recognition and non-direct recognition. In a non-direct recognition company, the earnings rate on cash value is totally unaffected by any
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by Kate4TC | Jul 6, 2016 | 0 Comment
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 discussion that comes up almost every Truth Training. There’s really no way to show this in the form of a calculator but it is a very valuable
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by Kate4TC | Jun 17, 2016 | 0 Comment
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 the most comprehensive “client presentations” ever given by Todd Langford, in which he used practically every single TC calculator! We covered a LOT of ground because we weren’t stopping to show and discuss how to USE the
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by jtaylor | Mar 23, 2016 | 1 Comment
(Adapted from an article originally published on Partners4Prosperity.com. Please feel free to share this page at TruthConcepts.com/power-of-liquidity with clients, or see the Content4Clients program for content marketing resources you can use for your own website.) “Success is where preparation and opportunity meet.” – Bobby Unser, Indianapolis 500 Champion Are you locking up your assets, or keeping them liquid? Do you have access to cash on demand? The answer may be influencing your prosperity more than you realize. Most investors focus on the ROI of an investment or a savings vehicle.
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by Kate4TC | Feb 17, 2016 | 1 Comment
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 of every quote!) “There is usually some basis of truth in what is said about money, but the analysis of the data is skewed.” “What should the average person do? All they can.”
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by Kate4TC | Dec 23, 2015 | 0 Comment
“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 misconceptions, sometimes stating their own misconceptions, or irritating others who believe their unbridled enthusiasm is motivated only by commissions. Indeed, The White Coat Investor website’s most popular post on whole life insurance (written by a self-appointed, unlicensed financial “expert” who is
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