Finding Money to Make Money Work for You

Insurance is truly one of the great wealth management tools - But many people say they don't have the money to do what they know they should or desire to do, which is to utilize insurance to protect or create the life they want for themselves and their heirs. 

I'd like to help you find the money you need. I'd like to help you, reduce or eliminate debt, reduce income taxes, improve cash flow and get all the life insurance you need and want without taking any additional money out of your pockets or change your current lifestyle.

We want to help you - reduce or eliminate your debts and improve your cash flow: 

• Do you have multiple credit cards and charge accounts with large balances and high interest rates? 
• Action: You can consolidate all that debt onto one credit card with a lower interest rate and reduce your total payments.

• Do you have cash accumulation in your life insurance policy, which you could use to pay off high-interest credit cards or a car loan
• Action:  You are better off borrowing from yourself and paying yourself back instead of paying someone else the interest? 

• Do you have untapped equity in your  home you can use to reduce or eliminate your  debts? 
• Action: You could take out an equity line of credit? Yes, many people still have equity in their homes, and yes, you can still get equity loans. 

• Can you refinance your mortgage to take out some equity and lower monthly payment to improve your cash flow? 
• Action: Mortgage interest is tax deductible. So,you  save on income taxes while reducing your debt and improving your cash flow. 

• Can you borrow money from your 401(k) to pay off your credit card debts? 
• Action: Consider the tax's you may pay for the withdraw but will they be less than you're paying in interest. 

  

• Can you reduce the premiums on their existing insurance policies to improve your cash flow? 
• Action: You can use that money to pay down debts and buy the life insurance you need? 

• Do you have low deductibles on your health, auto or homeowners insurance?
• Action:  If you increase your deductibles, how much money would you save? 

• Do you have an opportunity to receive a discount on your homeowners, auto and liability insurance policies by placing them with the same company? 
• Action: Review all policies and carriers. 

• Do you qualify for health insurance through your employer at a reduced cost?
• Action: You can possibly cut some benefits or increase deductible to reduce your costs?Maybe you can get more through pre-tax plans at work and actually take home more money.

• Do you have a critical illness policy, of a Disability Income policy, or a Long Term Care Insurance policy with long-term benefits? Example: Having a "to age 65" benefit period on your DI policy is fine, but if it prevents you from getting the life insurance you need to protect your family, is the long-term benefit on these policies really necessary? 
• Action: What is the higher priority? 

• Do you have low-priority riders on the above policies? 
• Action: Review and adapting could free up money by removing these riders? 

• Do you have cash-value polices that can be paid up with dividends? 

• Can we move your policies with a lower priced quality company for any of your current insurance? 
• Action: We need to make sure this is truly in your best interests and with a carrier that is still a very highly rated Insurance Company. 

• Are you funding a retirement plan? 
• Action: Does it make much sense to be putting money into a retirement account making 10 percent when you are paying out 17 percent interest on credit cards?

• Are you putting money into a Roth IRA? 
• Action: If you need more life insurance to protect your  family, you can use a cash-value policy for your retirement savings, instead of a Roth IRA? This will allow you a cash-value life insurance policy building tax-deferred and generate tax-free income just like the Roth IRA? 

• Are you putting more money into a 401(k) than is matched by your company? 
• Action: You could use some of that additional money to pay off your debts and get the life insurance your really need?

• Are you using a traditional IRA, SEP, etc.? 
• Action: If you need more life insurance to protect your family, you can instead use some of the money you are putting away for retirement to fund a cash-value policy? 

• Can you reduce your income taxes? 
• Action: You can write off a home-based business? Do you have a hobby you could write off as a business? You can start a business out of your house and save $300. to $600. in tax's.

• Are you missing any tax write-offs? 
• Action: You can go from the 1040 EZ short form to the long form for tax savings? 

• Can we change any of your existing taxable investments to a tax-deferred investment?
• Action: Careful review can make a big difference.

These are just a few of the creative ways we can help you find the money to do what you really need to be doing for your long term goals. By following these strategies we can help you get there. 

We exist to help people just like you improve your current financial situation. Let us help you with your wealth management.