AMERICA! It’s time to wake up! Listen to what David Walker, US Comptroller of Currency, has some very important things to say. America has over promised and is under funded!!! What does that mean for you? Watch this video and put some thought into what you hear!
Many people call themselves Estate Planners/Advisors. One person I know who owns a funeral home and cemetary say’s he does estate planning. Attorneys say they do estate planning. Insurance agents say they do estate planning. I see CPA’s advertise estate planning. Sure, they do….a PART of the entire plan, but usually ONLY A PART, not a comprehensive or complete Estate Plan.
Estate Planning should consist of several parts, Money, Income, Insurance, Tax, Legal, Business Succession, Business Exit Strategies, and more. Very few planners/advisors understand all of these areas in depth like Kevin Bock of Integrity Estate Advisors!
At Integrity Estate Advisors, located in Greensburg Pa., we have been helping people with their financial, retirement, and estate planning since 1989! As of the day I am writing this message, we are starting our 20th year! That’s important because of the fact that only 2% of people who enter this industry stick it out past 2 years…that’s 98% who leave! And even a larger number of people leave before 5 years…leaving about 15 out of 1000 people who enter, stick it out!!
So, how many people have purchased products from their friends who were trying a new career? I feel this is a major reason why we see mistakes, errors, & omissions in 80% to 90% of the New Client Review we perform.
Let’s look at just ONE area that we find mistakes. Beneficiary designations (BFD). Life Insurance, Annuities, 401(k)’s, 403(b)’s, IRA’s, (most any retirement plan) POD’s, TOD’s…..ANYTHING that you filled out a form to designate who the asset goes to when you die.
Most BFD’s state to “Divide Equally amoung children,” or “To Surviving Children.” After explaining the options and meanings of their choices, 80%-90% of the people we sit with, decide to make changes! It wasn’t what they really wanted. So, their wishes wouldn’t have been carried out….because someone didn’t take 2-3 minutes to explain their options….just filled out a form and put down “SOMETHING” so they could get out and on to the next sale!
It seems as though we almost always find mistakes, and surprises with products purchased from friends!!!
Recently we were talking with the 3 owners of a medical practice. They had purchased a life insurance policy on the 3rd member, their father. (from a friend). After taking 5 minutes to review their policy and statement, found that it was scheduled to lapse on a current basis in approximately 10-11 years. BUT, on the guaranteed basis, it may only last 5 years…. That means at the best case…..the father would only be in his early 70’s when the life insurance policy lapses. All of the money spent on this policy would be wasted and the policy would probably not be in force when they had planned on it paying the company a death benefit to fund the loss of income from their father’s exit.
When you are planning your estate, your future retirement income, the transfer of the wealth you have accumulated through years of hard work to your heirs, you can’t afford to piece a plan together on your own. It takes someone with experience and knowledge in ALL or each area of Tax, Money, Insurances, Legal, Business Succession, Business Exit Strategies, etc. Integrity Estate Advisors is a TEAM of professionals who can guide you in a comprehensive plan, and guide you through the maze of options once you hit the 50 year point in your life!
We look forward to serving you, and showing you the difference we can make in your future retirement, income (tax free or tax favored), and wealth transfer needs!
If you are in the states of Pennsylvania, Indiana, (and soon others), write us an email! Info@IntegrityEstateAdvisors.com Provide us with your contact information and we will contact you, usually within 24 hours, to answer your questions or concerns!
Have a prosperous New Year!
Kevin E. Bock, President
If you are like the many, you benefitted from the gains in the market from 2003 to 2007! Or did you? The only people who benefitted are those who didn’t let GREED take over. They pulled out sometime while they were ahead. Those of you who were trying to pull every last dime out of the BULL market may have experienced something different!
NOW, are you waiting for the market to come back? According to Harry S. Dent, the spending habits of the baby boomers will begin to diminish in the next few years…if it hasn’t started now. This drop in spending looks to last for the next 12-15 years before it increases again. With the economy the way it is, combined with the projected drop in spending, I don’t feel we’ll see a 14,000 market for a while. That is almost a 65% gain from where we are today, 8719.
If spending will be decreasing, what does that do to the economy?
I believe that there are some GREAT opportunities available today! If you are retired or near retirement, you better think twice about the amount of risk you can afford to take. Consider using safe options that offer upside potential IF or WHEN the markets start to go back up, but has no downside risk.
Our clients participated in the upward movement of the market from this same period, 2003-2007, but locked in their sweet gains each year. When the market started tanking after October 2007 to the present, our clients sat out this time and protected their principle AND past locked in gains!!!
Want some of this for yourself and your peace of mind? Call us at Integrity Estate Advisors: 1-877-419-1040 for more information!
For almost 2 decades, we’ve been reviewing beneficiary documents on a regular basis for our new clients (and current clients). We’ve found that the new AND old advisors who fill out beneficiary forms don’t know what they are doing 90%+ of the time! What does that mean for you?
There is a 90% or better chance that what you have on your beneficiary designations ISN’T really what you want. It takes us only 2-3 minutes to explain your options….so that you understand your choices. BUT, I guess that’s too much time for the “Order Takers” that most people have as advisors. Their name is correct on your application, their agent/rep ID is correct on your application…but approximately 90% of the time, your beneficiary designations aren’t what you want…..if they took the time to explain it to you…..IF THEY KNEW!!!
Why do you suppose their name and agent/rep ID is correct? Why is that important to them? m-m-m-m-m-m-m?
There are beneficiaries listed on your Life Insurance Policies, Annuities, Retirement Plans, IRA’s, 401(k)’s, 403(b)’s, Wills, etc. If you have bank or brokerage accounts, you may have ITF’s, POD’s, TOD’s which all have beneficiary designations. How important is it for you to have your wishes come true? Is it important enough to have someone who understands that you are worth the 2-3 minutes to explain something so important as your beneficiary options to you?
Do you have a minor child listed as a beneficiary? Do you NOT have a contingent beneficiary listed? Do you want to unintentionally disinherit your grand kids……do you want your parents or grandparents to unintentionally disinherit you or your children? If approximately 90% of the beneficiary designations are not correct, WHAT SHOULD YOUR NEXT STEP BE? Call Kevin Bock at Integrity Estate Advisors: 1-877-419-1040 I look forward to serving you.
I hear this phrase so much. 99.9% of attorneys DO NOT DO EVERYTHING! Attorneys do legal work. They generally do not have investment or insurance licenses or have knowledge of the tools available or can offer advice on insurance or investments or taxes. As for Estate Planning, several recently graduated attorneys have told me that all they learned about Estate Planning was how to typeset a simple will from a form and how to probate an estate! THERE IS SO MUCH MORE TO ESTATE PLANNING!
Almost everyone needs a will, but also a Power of Attorney for their financial affairs, a Power of Attorney for their medical affairs, a Living Will, and a HIPAA release document that specifies who the doctors/hospitals can release your private information to. Those are the 5 documents that are needed at minimum.
Many people and their heirs could benefit from a Revocable Living Trust or an Irrevocable Life Insurance Trust or one of over 60 different trusts, but 98% of attorneys do not have the expertice or experience to create an efficient document in this area. This takes a special attorney who takes the time to go to classes, seminars, and take specialized courses in this area. IT IS NOT TAUGHT IN THEIR ORIGINAL CLASSES! You want an attorney who spends a majority of his time in this area of practice.
On top of this, there are at least 6 other areas of expertice needed in a Financial/Estate Plan. What I find is that almost everyone tries to orchestrate the plan themselves. They are the center hub. They deal with an insurance advisor for Life Insurance, an accountant/CPA, an insurance advisor for their car/homeowners insurance, an insurance advisor for their Long Term Care insurance/Hospital Insurance, a Financial Consultant (or 2) for their money, possibly a mortgage consultant and others.
Each advisor usually never consulted with the other advisor and usually never askes the person at the hub, the necessarry questions to understand the ENTIRE scope of wants, needs, and goals of the client. This leaves HUGE holes or gaps on the plans of most Americans. These holes or gaps can cause major surprises and headaches for the client and/or their heirs in the future!
Integrity Estate Advisors has solved this problem. We partner with our clients at the hub. We are their coach, their coordinator. We understant each area or spoke in their wheel. We have the resources to help our clients get a comprehensive plan put together, to reduce or eliminate any holes or gaps that cause those unwanted surprises down the road!
So, when I hear someone say, “I have an attorney and everything is taken care of,” I cringe knowing that they most likely don’t and are headed toward a possible “Wake Up Call” down the road.
Most people don’t act until their “Boat Gets Rocked” or something happens to wake them up. I call this “Crisis Management Mode.” When it gets to this point, there is limited options for those people. There is usually more options today, than tomorrow, in Estate Planning, so act now. Contact a qualified advisor. If you don’t know of one, contact us at Integrity Estate Advisors. We have trusted resources for most anything you may need. I have been Certified Senior Advisor, (CSA) trained which that gives me a lot of knowledge and resources to help fullfill the needs of my senior clients, outside the financial aspects of their plans.
Visit our website for more information at: www.IntegrityEstateAdvisors.com Thanks for taking the time to read my thoughts! Make it a GREAT day! -Kevin E. Bock
NOW, you can have the chance to build equity in your home quicker….allowing more money to be placed into your retirement funds later! There is a new software system that tells you when and how to make mortgage payments through the use of a special Home Equity Line of Credit.
I ran my current mortgage numbers along with a little bit of debt I have and it took me from 23.7 years, down to 8.3 years, saving me over $107,000 of interest!!! If I keep making the same payments to a savings account over the remaining 15.4 years, I would have over $500,000 more for retirement!
This great program is now available in the USA! It has been sweeping across Austrailia and the UK. For more information on this program, visit: www.PaidOffQuickly.com or call us toll free at 1-877-419-1040!
An illustration I saw showed that the equity it traditionally took 4.7 years to accomplish, took this program only 1 year to do!
The choice is pretty simple, Have your home paid for in thirty years, or have your home AND hundreds of thousands of extra dollars in thirty years! Even if your home is partially paid off, this program may help.
The typical thought of most is to “Buy Low and Sell High!”
With this thought in mind…”WHEN IS THE RIGHT TIME TO SELL HIGH?”
Back in 1999, we saw people have some of the biggest Bull Market Gains totals in history….over the past 10 or so years. Why did some capture these gains and some didn’t?
GREED! People who were satisfied with what they had “WON” pulled out when the market started to drop in 2000. People who let GREED take over, saw that they had made some substantial gains in the market over the last 5, 10, or so years, wanted more!
The unfortunate people who lost, many of which were in retirement and couldn’t afford the losses, had to make lifestyle changes. They needed to keep pulling money out of these accounts to make ends meet, ended up spending principle. When the markets started back up again a couple years later, these people had less money to go back up and are WAY below where they can afford to be.
Many of these retirees had their brokers keep telling them….”Stick it out…the market will go back up!” Well the brokers (and history) were right, but for many, they lost. They ended up pulling out when the market was down …Buy Low, sell Lower.
With the introduction of Guranteed Fixed Indexed Annuities (GFIA), retirees now have the ability to participate respectable gains when the markets go up, and still have their principle protected from market losses. In fact, each year on the anniversary date, these GFIA’s lock in any gains you may receive…and that new amount can’t go down from market losses either!
Let’s look at a scenario: Joe purchases a GFIA for $100,000. The account goes up 7% over the next year. The new account value on the 1st anniversary date is $107,000. This new amount can never go down if the market goes down. Let’s assume the market goes down 10% the 2nd year. The $107,000 doesn’t get any gains and stays at $107,000 (instead of losing 10% or $10,700). When the market starts back up, so does Joe’s account from the $107,000 point, not the lower amount like money in the stock market can do!!!
This is so powerful, that Billions of dollars each year are flowing into these Safe, Savings and Retifement programs. I’ve seen gains over the years from “0″, (when the markets went down in 2000, to double digit returns…without risking principle and annual gains!
WHEN DO YOU SELL HIGH? When your account values are high! (Like possibly Now!). If you feel the market may drop again (which they will…not if, but when)…you may be a good candidate for looking at a Guaranteed Fixed Indexed Annuity. The taxes on interest is deferred until you spend it….(unlike taxable CD’s and Brokerage Accounts, when you pay taxes on the gains each year even if you don’t spend it). This allows you to get control over when you want to pay the taxes!!! GFIA’s also avoid probate, so you may be able to pass more on to your loved ones quicker!
That’s all for now, if you have any questions, please email us at info@IntegrityEstateAdvisors.com
70% of the people don’t have a simple will. In Pennsylvania (and most other states), if you don’t have a will, the state has one for you! It probably isn’t what you wanted, but if you procrastinate, your surviving spouse will experience it.
Let’s assume a couple with children. If one spouse dies without a will (intestate), most people assume that the surviving spouse will get everything! This may not be the case. In general, the surviving spouse gets the first $30,000 and the balance of the estate will be divided 50-50 between the children and the surviving spouse. In most cases, this isn’t what the family would have intended.
It is very important to make the decision to put a comprehensive plan in place as soon as possible! Generally, your attorney, insurance advisor, stock broker, etc., doesn’t have the knowledge base to provide you with a comprehensive plan. You need to talk to someone who has knowledge in all of the areas to provide this type of plan. Using several different advisors, many times, will cause a GAP or HOLE in your planning. These GAPS or HOLES can cause many heachaches, surprises, and unneeded depletion to your estate.
Taking the time to Plan Properly can MAXIMIZE your legacy to your children or heirs. Procrastination usually MINIMIZES your legacy….WHICH DO YOU PREFER?
Call me to talk about your individual situation at 1-877-419-1040 9 am - 5pm Monday thru Friday.
The stock market hit an all time high on Wednesday, October 4th. When the market goes down, I hear other financial advisors tell their clients…”It’s only a PAPER LOSS.” Unless you take your money out now…you really haven’t lost any money!”
The same holds true with a market gain…unless you take your winnings out, you haven’t realized any gains or winnings! For many senior citizens and people nearing retirement, the thougt of another bull market is enticing, and greed starts to set in. People lost money in the market in 2000-2001, mainly because of GREED.
If you are nearing retirement, or are already in retirement, you generally don’t have as much time to recuperate from a market crash…especially with ALL of your retirement assets. Retirement planning needs to approached differently than accumulation planning
There is an old rule, called the RULE OF 100. Subtract your age from 100 and the result is the maximum % of money you should have in the market. Ask yourself, how long can my retirement income last if the market goes down! Then you have to understand that when the market is down, you may be spending PRINCIPLE. When you spend principle, you have less to recover and the market has to go up MUCH HIGHER for you to break even.
There are great retirement strategies that allow you to participate in market linked gains, but also enables you to protect your principle at the same time! With the experts prediciting a level market over the next few years, risk is something that should be re-evaluated.
My personal concern for my clients nearing or in retirement…..what if another plane hits a building in the US. It’s not a matter of “IF” terrorism will hit the US again, but “WHEN!” Don’t procrastinate. Today you have the most options. As time goes on, you risk losing those options and “CRISIS MANAGEMENT” doesn’t work when it’s too late!
For more information, you can call us toll free at 1-877-419-1040.
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