Whiteboard Animated Videos for Financial Advisors

*Video Transcript*

Life insurance has two values: a death benefit and a cash value. If you no longer need or can afford a policy it may be sold to a third party. It may be worth more than the cash value but less than the death benefit. As the policy owner you can change beneficiaries, use it as collateral, or sell it to another party. The third party becomes the new owner and beneficiary of the policy, pays the premiums, and receives the full death benefit when the original insured dies. The new owner is betting that the policy will pay more than what it cost them to take over ownership. Life Settlement providers must be licensed in the state where the policy owner resides.41 states have regulations in place regarding the sale of life insurance policies to third parties. Somewhat like real estate, a broker is used to solicit offers for a sale. Be sure to Seek the advice of a financial professional to assist in determining values and terms. Give us a call today to determine if a Life Settlement is in your best interest.

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Financial Advisor Marketing

*Video Transcript*
Statistics say there is a seventy percent chance that you or your spouse will experience a need for long-term care! Long-term care includes a range of services and supports you may need to meet your personal care needs. Most long-term care is not medical care, but rather assistance with the basic personal tasks of everyday life, sometimes called Activities of Daily Living (or ADLs). These include Bathing, Dressing, Using the toilet, Transferring to or from bed or chairs, Caring for incontinence, and Eating. Other common long-term care services and supports are assistance with everyday tasks, sometimes called Instrumental Activities of Daily Living (or IADLs) These include Housework, Managing money, Taking medication, Preparing and cleaning up after meals, Shopping for groceries or clothes, Using the telephone or other communication devices, Caring for pets and Responding to emergency alerts such as fire alarms. The cost of Long-Term care varies with the amount of coverage, length of care, and deductibles. The initial premium level will increase based upon the age at which you apply. Like all insurance, most people wait too long before applying. 1 in 4 who apply between the ages of 60 and69, don’t qualify. You owe it to yourself and family to know the options and prepare well today. Call us to find out more.

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What Type of Life Insurance Do I Need?

Video Transcript:

A life insurance policy protects your loved ones against the loss of your income after your death, and helps to preserve their standard of living.

You’ll name a beneficiary to receive the proceeds, and in exchange, you’ll pay premiums as outlined in the policy terms.

Once you’ve determined how much you need, factoring in future expenses and current debts, you need to decide on one of the four types of life insurance: term, whole, universal or variable.

Term life insurance covers you for a specific period of time, like one, two, ten or twenty years. The death benefit is paid only if you die within the policy term. Premiums generally start out lower, depending on your age, which allows you to buy more coverage.
Whole life or permanent insurance covers you as long as you pay your premiums. The policy accrues a cash value that you can collect if you terminate the policy. It pays a fixed amount on death, and premiums are usually higher than for term insurance.

Universal life insurance is also permanent but this option offers greater flexibility than whole or term. You can increase or decrease the cash value and death benefit if your needs change, with a related rise or drop in premiums.

Variable life insurance is another type of permanent life insurance, but with an investment component. The cash value is invested in sub-accounts similar to mutual funds. Variable life is considered a security because of its investment risk.

If you’d like to learn more about the pros and cons of different insurance policies, call us or visit our website today.

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3 Ways Investors Can Decrease Stock Market Risk

Video Transcript:

Determining how you invest should always begin with an assessment of your risk profile.

Therefore, how much money you’re willing to allocate to stocks will have an outsized impact on the volatility of your portfolio.
Here are 3 Ways you Can Decrease Stock Market Risk

First – Don’t get overly complex. The simplest way to lower the volatility of your portfolio is to take less risk by owning more fixed income securities such as bonds.

Second – Own uncorrelated assets. By combining two assets that perform differently, there may be a slightly higher return than either of these markets achieved on its own.

And third, expand your time horizon. Extending your time horizon is one of the best edges an investor can get these days.

But the shorter your widow, the higher odds you’ll end up with negative performance.

Call or email Wealthabundance Wealth Management to learn more about mitigating stock market risk.

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Financial Planner Marketing

*Video Transcript*

Here are some tips to help you lessen your tax burden at the end of the year. First, be aware of any tax changes that will take place in the new year so you can use them to your advantage. Review your cost basis so you can make informed decisions about the sale of your assets. Realign your portfolio for the best overall after-tax return. Accelerate losses to offset gains. You can take up to a loss of $3,000 in excess of gains each year, but avoid wash sale rules. Or you may want to consider a delay in using loss carry-over if your bracket will be higher the next year. Be aware of additional taxable income available yet stay within your current tax bracket. Consider either accelerating or delaying deductions to arrive at the best tax strategy for you. Consider paying state estimated and real estate tax installments early, if it works to your advantage. Tax and financial planning involve complex calculations, so seek a professional to maximize your overall tax strategies.

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How to Plan Ahead in Caring for Aging Parents

Video Transcript:

Today’s longer lifespans have left some baby boomers in the difficult position of planning for retirement, helping their children and caring for aging parents simultaneously.

Giving advice to aging parents on their finances and other matters can cause conflict.

To ease the way, start the conversation long before a crisis occurs by asking for copies of documents you might need someday such as property deeds, birth certificates and insurance policies.
Also keep updated information on retirement plans and pensions, Social Security and health insurance.

Ask your parents to create a living will, outlining their health care wishes, and appoint a health care proxy, or person, to carry out those wishes in case they’re unable to communicate.

They may want to also have a living trust, which is a legal document that places their assets into a trust for their benefit while alive, and transfers them to beneficiaries when they die.
If your parents become ill or incapacitated, the trustee can immediately take over financial decisions.

For more information on caring for aging parents, call us or stop by our website.

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Your Spouse Just Passed Away- What Should You Do?

Video Transcript:

The death of a spouse is one of the most devastating events of a person’s life. During this difficult time, do not make any major financial decisions right away. Allow yourself time to only deal with the emotions of your loss. Then, get 10 to 20 copies of your spouse’s death certificate to document ownership changes. Be sure to keep all payments current to avoid late and interest charges.

Don’t sell your house, sell investments, or give money to charity right away, and don’t immediately invest proceeds from insurance until your financial picture is clear. Verify your survivor benefits from pensions, Social Security and investments. Gather and organize all financial documents and statements. Then assess your current financial needs.

We can help you through this difficult time. Please give us a call today. We’re here for you.

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Financial Advisor Videos

*Video Transcript*

You’ve been saving for your retirement for decades. Don’t undermine your own plans by making these 5 common mistakes when you retire. First, don’t retire too soon. Lifespans are increasing and many retirees underestimate their life expectancy when calculating the money needed to live on. The second mistake to avoid? Spending too much in the first years. It’s easy to overspend while playing with your newfound freedom, but it can cause shortfalls later in life. Budget accordingly and stick to your plan. The third mistake is underestimating medical expenses – and overestimating Medicare benefits. Avoid surprises by factoring in enough money to supplement Medicare and consider buying added health insurance to fill in any gaps. Another mistake is taking Social Security benefits too early. You can claim benefits at age 62, but the longer you wait, the higher your monthly benefit will be. Lastly, don’t fail to do estate planning. An estate plan and a will maximizes the chances that your wishes will be followed and your assets will go where you dictate. It’s easy to make mistakes in the beginning stages of retirement – for more information, please give us a call or stop by our website today.

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How to Avoid a Retirement Plan Rollover Mistake

Video Transcript:

If you’re changing jobs or retiring, it’s important to know the rules regarding moving funds from your employer sponsored retirement plan.

The wrong move could cost you in income taxes and early withdrawal penalties.

There are two basic ways to move retirement plan assets from one retirement plan into another with no tax consequence.

With a direct rollover your financial institution or plan directly transfers the payment to another plan or IRA; no taxes are withheld and your account continues to grow tax-deferred.

With an indirect rollover, a check is made payable to you. You have 60 days to deposit it into a Rollover IRA – but indirect rollovers are subject to 20% withholding.

For example, if you had $10,000 eligible to rollover, your employer would withhold $2000 and you’d get a check for $8,000. You’ll get the $2000 that was withheld back when you file a tax return, either as a refund or a credit toward any tax owed.

However, in 60 days you still have to deposit the entire $10,000 in a rollover account – the $8,000 from your employer plus $2000 from your own resources. Any amount you don’t rollover is considered income, and subject to taxes when you file your return. You could also face a 10% early withdrawal penalty, depending on your age.

To learn more about how to avoid complications with a retirement plan rollover, give us a call today.

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Impact of Inflation in Retirement

Video Transcript:

The medical profession refers to high blood pressure as the silent killer. In investing, the silent killer is INFLATION.

The minimum return on any retirement investment must be at least equal to inflation. Here’s why.

Suppose your retirement goal is to withdraw $90,000 per year from your IRA. To maintain your purchasing power you must adjust your withdrawal amount for the inflation factor.

That means that to get $90,000 per year at an inflation rate of 3%, your withdrawal amount in year 15 would be $140,217.

Are you on track to manage inflation during your retirement?
To learn more, give us a call today, or visit our website.

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