How to pass your life insurance medical exam with flying colors

I give my clients these tips every time they are preparing for a paramed exam

  1. Take your medical exam early in the morning before breakfast
  2. Do not drink caffeine or workout before your exam
  3. Do not drink alcohol the day of or the day before
  4. Stop taking any kind of workout supplement at least five days before your medical exam including protein powder (unless your physician has you on a regiment)
  5. Try to keep your carb intake low for a few days before your exam
  6. Stay away from trans fat and anything that is high in bad cholesterol

I hope this helps you or your client get the best insurance rating possible.

Young Money

Young Money

We all know how important it is to put away money for retirement purposes. Well maybe not all of us, but it is time to start thinking about it. When mentoring young professionals are you also coaching them on different avenues of putting money away for their futures? And if you are, what kind of advice is it? Here is something that works for all ages, but it can be supercharged for those young professionals who are making too much money and not putting enough of it away.

This might shock you a bit.

Here is an example of a 10 Pay Whole Life Policy done for a 28 year old male in great health and financial standing.

$30,000 premium for 10 Years. Easy math will tell us the total premium paid into the policy is $300,000.

By the way this can be done both in smaller and larger amounts.

Now at age 38, the young gentleman lets the money ride and continues to grow his cash value without paying long term capital gains taxes.

By age 50, he has over $700,000 he can access, but refrains and lets the cash build up even higher. P.S. he has a death benefit of $1.8mm at this point.

At age 60 he finally decides it is time to retire and wants to use some of his cash value. He has just over $1,200,000 of cash value he can access. He wants to continue being responsible about his money and instead of taking the lump sum, he and his broker calculate he can take a tax-free income of about $65,000 per year. If you add in taxes this is equivalent to taking about $92,000 out of a qualified retirement account.

So how long will he be able to take that tax-free $65,000 out for? 25 years.

Yes, 25 years multiplied by $65,000 is equal to $1,625,000. This is a taxable equivalent of over $2,300,000.

How much did he put in again? $300,000. That sounds like a pretty good deal to me.

Oh and one last thing, even after he has taken all that money out, at age 86 he still has a death benefit to leave for his family of about $1,900,000 which will be paid out non-taxable to the beneficiaries.

No Brainer!!!

Grandparents and Parents, remember that you can easily do this for your grandchildren or children.

Business owners, this may be the best pair of golden handcuffs currently on the market for your movers and shakers.

Long Beach Register

I was shocked when I heard that the Long Beach Register was set to publish their first edition in mid August. It seems as though all other major newspapers have decided to pull back on paper publishing due to the easy instant access the internet has provided the papers’ former subscribers over recent years. As well as that, the higher costs of printing and declining sponsor interest would make any publisher hesitant to start a brand new newspaper. On the other hand the OC Register seems fairly successful and is widely distributed in Orange County. What are your thoughts on Long Beach’s first Register? Do you think it will be a hit or destined for failure?

http://www.lbbusinessjournal.com/long-beach-business-journal-newswatch/1728-long-beach-register-set-to-publish-first-edition-august-19.html

Enterprise Zone Tax Credits (Long Beach)

Enterprise Zone Tax Credits (Long Beach)

The termination of enterprise zone tax credits is a huge loss for Long Beach.  Over 550 businesses will be affected.  The incentive for these businesses to hire workers from disadvantaged zip codes and neighborhoods is now reduced. 

The state has no problem with free handouts, but when it comes to local businesses, which bring jobs and revenue to the state, they repeal their tax benefits. 

Our local economy is like an ecosystem.  When a local business is limited to growth and their incentives to expand are taken away there is a direct affect on new and existing jobs.  Without new jobs and possibly the loss of existing jobs you will see a decrease in consumer spending, which in turn will hurt other local businesses.  This cycle will continue when programs like the enterprise zone tax credit are reduced.

 

How to pass your life insurance medical exam with flying colors

I give my clients these tips every time they are preparing for a paramed exam

  1. Take your medical exam early in the morning before breakfast
  2. Do not drink caffeine or workout before your exam
  3. Do not drink alcohol the day of or the day before
  4. Stop taking any kind of workout supplement at least five days before your medical exam including protein powder (unless your physician has you on a regiment)
  5. Try to keep your carb intake low for a few days before your exam
  6. Stay away from trans fat and anything that is high in bad cholesterol

I hope this helps you or your client get the best insurance rating possible.