Category: Life insurance

Am I Too Old To Buy Whole Life Insurance?

“I wish I would have known the whole truth about whole life insurance 40 years ago so I could have taken advantage of all the benefits you have described to me,” a brand new prospective client said to me. “I love what you are saying and it makes so much sense, but I am just too old to implement what you are talking about. At my age, it will just be too expensive.  But it scares me to death thinking about running out of money.” “Many of our clients say

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Have I Saved Enough Money?

Andrew Walberg and I had been friends since first meeting in Mr. Carlson’s government class when we were juniors in high school.  He was so much fun to be around, always positive and upbeat.  I had not heard from him in a while so I was surprised to hear his voice on the other end of the telephone. “Hey, this is Andy.  How have you been? I’ve known you’re in the financial services business, but I have never taken the time to talk to you,” he started.  “I want to

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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 their policies and their other assets. Their 401(k)’s had about $470,000 combined. The cash value of

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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 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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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 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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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 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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