If you want to grow your investments, get a well-rounded view of the markets and understand these uncertain times, you want to sign up for our teleseminar today. You can sign up HERE.
Also, please check out the other resources available for our readers:
New ETF report
Hear Doug Fabian live at the Money Show in Las Vegas next week
Portfolio reviews available
Life insurance and annuity reviews also available
If you’re like most people, you probably own a variety of insurance products. Life insurance is the most widely held financial services product in the country, but did you know that there are also over 20 million annuities in existence? If you own a life insurance policy or an annuity, you need to be aware that there are features and benefits to these contracts that you can use to enhance your financial situation. But beware; there also are fees and expenses associated with these products that could threaten future benefits for you and your family. Let me explain.
When it comes to life insurance, most of us own it as a way to protect our family. If we were to die unexpectedly, our spouse and or dependents would have enough money to replace lost income, pay down debt or pay for college expenses. These are the typical reasons why we buy life insurance. Most people own term life insurance, which covers you over a specified time period (usually when our dependents rely on us most). In this situation, you want to make sure you have the right amount of coverage, and that you are paying a reasonable cost for what you need.
Action Item No. 1: If you have a term life insurance policy, you need to review that policy’s coverage to make sure it serves your family’s needs. You also need to see if what you’re paying for that coverage is reasonable.
In addition to term life insurance, there’s also a type of life insurance that allows you to merge a savings account with a policy to help achieve your financial goals. For example, you can create a personal pension plan with a permanent life insurance policy. This type of policy allows you to save for retirement while also generating a future income stream from your savings. This strategy works well for high income earners who aren’t able to save enough of their income via a 401(k) or other retirement savings plans. These life insurance policies allow you to invest for retirement and family protection WITHOUT downside risk, and they come with full tax deferral and tax free withdrawal, IF they are properly structured.
Action Item No. 2: If you’re concerned that your current retirement savings vehicles may not be enough, or if you have concerns over the amount and cost of your current life insurance coverage, take steps to find out what kinds of life insurance may fit one or both of these needs.
If you have an annuity, you should be looking at your contract in terms of investment performance and costs. Annuities are valuable tools for retirement savings and income generation, but there are complicated options and contract language that are vital to understand. Annuities also carry many internal fees and expenses, and insurance companies traditionally do a poor job of explaining those costs. When it comes to investment options, you need to make sure your annuity is in sync with your overall retirement plan.
Action Item No. 3: If you own an annuity, you need to conduct a review of the investment options, fees and expenses associated with your policy, and you need to compare those with the latest product offerings from the industry.
At Fabian Wealth Strategies, we offer our clients a full service wealth management experience. We know that life insurance and annuities play a key role in our clients’ financial plans, and that’s why we have experienced team members here to help our clients make the most of these financial products. Because there are so many varied aspects to life insurance and annuities, you simply must have an experienced professional on your side to make sense of it all.
Today, I am offering you a FREE insurance and annuity consultation. If you would like to have one of our experienced professionals research and analyze your life insurance policy or annuity contract, then simply call our offices at (800) 391-1118, and we’ll set you up for your FREE life insurance and annuity review.
Make the call today, and find out how you can better protect yourself and your family.
All the best,
President, Fabian Wealth Strategies
3070 Bristol St, Suite 610
Costa Mesa, CA 92626
NOTE: Fabian Wealth Strategies, Inc. is a registered investment advisor with the U.S. Securities and Exchange Commission. Doug Fabian is a registered investment advisor representative. The information expressed in this email is for educational purposes only and should not be construed as a recommendation to buy, sell, or hold any specific insurance product. Fabian Wealth Strategies, Inc. is licensed by the California Department of Insurance (License #0G87212).
Mutual funds control the majority of Americans’ retirement assets through 401(k)s, IRAs and annuities. Sadly, a gullible public has bought into the idea that steady investments in mutual funds, regardless of market conditions, is the way to make their financial dreams come true.
This is one of the biggest fallacies of investing, and why mutual funds are hazardous to your wealth.
Click here to view my recently published MarketWatch article on the five fundamental flaws of mutual funds.
One of my favorite things to do is speak at corporate events. I love interacting with the crowd, answering questions and meeting new people. The subject of my next corporate speaking event is how to “get real” with your finances now, before you find yourself in dire straits.
The title of my talk is, “Principles for Financial Success in Uncertain Times.” Here’s a brief outline on some of the topics I’ll be covering.
1) Eliminate all consumer debt. Financial independence will not be achieved carrying a big debt load. It’s obvious that you should not be paying interest on credit cards or student loans, so one of the best investments you can make right now is the paying down of debt.
2) Manage your taxes. Higher taxes are coming, and the more you make the more they’ll take. The smart money employs every strategy allowable to beat back the tax man.
3) Fully fund your retirement plans. By maxing out your 401(k), IRA and other plans, you’ll lower your taxable income and increase savings.
4) Manage your risks. Make sure you have adequate insurance in place to protect your assets and your family.
5) Positive cash flow. Most Americans live above their means, so if you find yourself in financial trouble, it’s a good bet that you are outspending your income.
6) Get financially literate. Managing your assets in uncertain times requires energy and expertise. If you are so inclined, get an education in the financial markets. Read books, newsletters and websites, and follow the markets carefully. If you’re not inclined to do it yourself, hire a fee-only advisor to manage your money and stay away from firms that charge high commissions.
7) Minimize fees. Mutual funds, annuities and high-cost advisors are ripping off millions of Americans. Know what things should cost and avoid all products with high surrender charges.
8 ) Get real about real estate. I predict more money will be lost in real estate in the coming years, and just like the tech bubble of the 1990s, there will be more losers than winners.
9) Get real about government promises. Do you expect to receive a Social Security check when you retire? How about Medicare, will it be there for you? I suggest you plan to be self-sufficient, that way you won’t have to rely on the capriciousness of political promises.
10) Start planning for a realistic retirement. Many Americans feel they are entitled to a condo in Florida and four rounds of golf per week. It will take a million dollars to safely generate $50,000 per year in income, so if you want to retire with more income than that, you’ll have to plan according right now.