Archive Monthly Archives: August 2019

Professional Experts for your Team

Learn the Five KEY professional experts you should get financial advice from!

The financial EXPERTS you should be getting advice from

  • Getting professional financial advice can be life changing, for the better or the worse.
  • For example, in 2008, I was meeting with a client of mine. She said she had a friend that was getting 10% returns year-after-year. I told it seems unlikely and even if that was the case the level of risk associated to generate returns like that must be enormous. After reviewing the conservative nature of her goals and objectives we confirmed her current strategy was aligned. Turns out, 6 months later, her friend was working with Madoff, and she lost everything.

Who do you need on your team?

  • Tax and administrative professionals (the people who will address your tax exposure and help you try to fix it)
  • Investment specialists
  • A Consultative insurance provider
  • Trust and Estate Lawyers
  • Asset Protection authorities (these people will help you with making sure you’re assets are protected from creditors if you are sued)

Coordination is key among your team.

  • An elite wealth planner is the coordinator among the team and will know other specialists who will be able to meet your needs.

Want to ensure you don’t have any gaps or missed opportunities in your wealth planning? Click here to “Stress-Test” your current plan FREE.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Gold Family Wealth, LLC), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Gold Family Wealth, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Gold Family Wealth, LLC is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. A copy of the Gold Family Wealth, LLC’s current written disclosure statement discussing our advisory services and fees is available upon request. If you are an Gold Family Wealth, LLC client, please remember to contact Gold Family Wealth, LLC, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services.

Build Wealth

How Business Owners can Pay Less Tax and Build their Wealth

There are many ways business owners can pay less taxes, thus maximizing their wealth.

  • Make larger contributions
  • Maximize tax deductions
  • Defer Taxes on growth
  • Receive a lion share of the funds
  • Reward employees
  • Predictability of benefits in retirement

The problem is that most business owners do not effectively use retirement plans.

  • “Plain vanilla” solutions do little to maximize personal wealth.
  • Their retirement plans are mainly established to attract and retain top-tier plans. These retirement plans do NOT set up to benefit owners and do NOT provide a meaningful amount of money that owners can save.

The solution is a specialized defined benefit plan.

  • This provides a lifetime retirement benefit as well as a death benefit.
  • The owner is able to make significantly larger contributions.
  • The plan keeps pace with inflation and grows income tax free.
  • It is also protected from the claims of creditors.

A case study of two brothers (ages 51 and 44) shows the benefits of this type of plan.

  • The brother’s business has 11 employees (including themselves), and currently has a 401K plan (defined contribution plan). The solution, a specialized defined benefit plan, will tell you the current benefit at any time and will carry on towards the spouses if one of the brothers were to pass.
  • Each brother will receive retirement benefit of: $18,750 per month, which equates to a life insurance benefit of $1,875,000 each.

Year 1 Contribution Comparison (Case Study):

  • Plan type: 401K w over 50 years old catch up provision: Maximum contribution is $25,000. Tax Savings is $12,500.
  • Plan type: Specialized Defined Benefit Plan: Maximum Contribution is $9,888,847. Tax Savings is $494,424
  • Both of these plans can work together.

Want to ensure you don’t have any gaps or missed opportunities in your wealth planning? Click here to “Stress-Test” your current plan FREE.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Gold Family Wealth, LLC), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Gold Family Wealth, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Gold Family Wealth, LLC is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. A copy of the Gold Family Wealth, LLC’s current written disclosure statement discussing our advisory services and fees is available upon request. If you are an Gold Family Wealth, LLC client, please remember to contact Gold Family Wealth, LLC, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services.

Wrong Financial Advisors

Three Ways to tell if you are working with the wrong financial advisors?

Three reasons you may be working with the wrong advisors:

  • They are not aware of elite-level planning tools OR they are aware but do not know how to use them.
  • They are not working proactively and cohesively with other professionals
  • They aren’t seen as thought leaders in the industry.

Want to ensure you don’t have any gaps or missed opportunities in your wealth planning? Click here to “Stress-Test” your current plan FREE.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Gold Family Wealth, LLC), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Gold Family Wealth, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Gold Family Wealth, LLC is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. A copy of the Gold Family Wealth, LLC’s current written disclosure statement discussing our advisory services and fees is available upon request. If you are an Gold Family Wealth, LLC client, please remember to contact Gold Family Wealth, LLC, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services.