The Trunk
Your Savings make up the core strength of your financial life or the Trunk of Your Fruitful Tree. Sound financial growth stems from your foundation of savings. Many people don’t have enough money in savings because they don’t know how to structure it to best benefit their lives. When structured properly, you should have a […]
Gold Held in Your Name in a Foreign Country (Pooled or Allocated)
We’ll repeat here that in 1933, the US lead by FDR confiscated all Americans’ gold and then paid them what was then the stated rate, followed by a change in the stated rate which effectively dropped the value of the Dollars exchanged for the confiscated gold by almost half. None of us like to think […]
Ben’s Story of Whole Life in Action in His Life
Ben & Kim have a regular American family. The have two kids – Jack and Rick – who they love with all their hearts (and probably spoil just a little too much!). They’ve done okay financially, following a lot of financial advice that they’ve heard over the years. They’re no experts, but Ben tries to […]
How Do Life Insurance Tax Benefits Compare to IRA’s/401k’s?
“Be sure you know the condition of your flocks, give careful attention to your herds; for riches do not endure forever, and a crown is not secure for all generations.“ (Proverbs 27:23-24) When the US government changed the Constitution to make legal the income tax, they applied it to certain types of income. Over the […]
Roth IRA – Differences from Traditional IRA’s and 401k’s
We’ve spent the last 10 posts covering the many facets of Qualified Plans (which include traditional IRA’s, 401k’s, 403b’s, SEP IRA’s, etc.) Today we’ll look at the differences and similarities between these more traditional types and the newer Roth IRA’s. Roth IRA’s allow you to put money into a tax deferral vehicle just like the […]
When Would You Like to Start Paying Taxes?
Let’s talk about real life for a minute. Financial discussions can often devolve into philosophical numerical debates that really have no place in reality. Do you want a good theory of how to have more money in your old age, or do you want to have more money in your old age? Let’s ask the […]
For the Successful at Building Wealth, Isn’t a 401k (or any IRA) a Bad Idea?
A similar question to the one we asked yesterday is, “What if you are successful in building wealth, will the IRA tax deferral have been a wise choice?” We have a lot of clients who are in the 25 or 28% Marginal Tax Bracket. Your marginal bracket is the bracket that your last earned dollar […]
How Will Tax Changes Affect Your 401k or IRA?
“A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.” (Proverbs 22:3) Do you believe taxes will go either up or down in the future? We ask this of all our clients, and almost every single one of them believes they will increase. When you look at the […]
The Real Tax Truth within 401k’s and IRA’s
15Then the Pharisees went out and laid plans to trap him in his words. 16They sent their disciples to him along with the Herodians. “Teacher,” they said, “we know you are a man of integrity and that you teach the way of God in accordance with the truth. You aren’t swayed by men, because you […]
How 401k’s & IRA’s Limit Both Your Control and Accessibility
Having access to and control over your assets is essential to stewardship. God owns everything, but He’s given you certain assets to steward. This term invokes the Biblical image of a great Lord with many properties and business affairs who puts a Steward (or Manager) in charge of them. (An example: Matthew 25:14-30) Can you […]