Ken Fearer - SFG Financial Solutions
Ken Fearer - SFG Financial Solutions
- 2
- 7 810
Welcome to the channel, your ultimate resource for Retirement Planning, Tax Strategies & Debt Elimination!!!
We believe that retirement planning is not just about saving money-it's about strategically leveraging your assets to create sustainable income streams for the rest of your life. We'll delve into the many financial vehicles available and exactly how they work, to assist you in taking control of your financial destiny.
We'll also go over details on uncovering smart and legal ways to minimize your tax burden and maximize your wealth. Americans debt is at in all time high...we will go over proven tactics to eliminate your "bad debt" saving you potentially tens of thousands of dollars in interest payments.
Through our informative videos, we aim to empower you with the knowledge & tools needed to make informed decisions about your financial future!
Book Complementary Retirement Plan Review: bit.ly/Your-Retirement-Plan-Review
Пікірлер
IDK What you do on your free time. but we need more content!!!!!!!
Hi Ken, can I set up the IUL from my 403b plan? Do I have to withdraw the pre-tax dollars from 403b before buying the life insurance? Cindy
Hi Cindy, we would have to look at it in more detail. Feel free to book a call with me and we can discuss. link.sfgfinancialsolutions.com/widget/bookings/20-min-financial-zoom
So if i put in $200 a week, which will be about $10,000 a year. And leave it in for 5 years untouched and i grew 5% each year are you saying that every $10,000 would equal out to $50,000 eaxh year? Or how would that work?
Hi, I have an IUL simulator that can show you based on historical numbers what you put in and how much you can take out in the future. The simulator also will show a comparison to other retirement vehicles like the 401k and how the IUL will out perform it. I can show it how it works in less then 10 minutes. Email me at [email protected] and we can set up a call.
What do you mean by if you die, the money in IUL balloon for your beneficiary. What amount will they receive? the face amount of the insurance, the cash value, or both? Thanks.
Hello, when initiating an Indexed Universal Life (IUL) contract, it inherently includes a death benefit component. Typically, we tailor each policy to incorporate the minimum required insurance in accordance with tax law 7702, ensuring it remains a tax-free vehicle. To illustrate, if a healthy 40-year-old commences an IUL with a monthly contribution of $1,000, the initial death benefit would be approximately $200,000. In the event of their passing at any point after policy initiation, their family would receive this death benefit. For instance, if they were to pass away at age 50 with an account value of around $150,000, the death benefit would total approximately $350,000. In contrast, had the funds been in a different retirement account such as an IRA or 401(k), the family would only receive the current account value, such as $150,000. This is why we emphasize that the value "blossoms" upon death.
Hi there, nice video. I have a question about it. in 21:40 minute there is a table and one of the columns is called "Total Income". Where.do this numbers come from? Thanks.
Hi, in this hypothetical example, if the person took out $69,296 as income per year starting at the age of 65 and lived to 85, they would have (borrowed against the policy) that total amount in 21 years. The max funded IUL would last the entire time until they passed away at 85. The other options would have run out of money well before age 85 which s shown on the next slide. Therefore, they would have to take out less income per year using the other options for it to last until 85.
That wasn't my question.
People also need to understand that if any given year, the market is negative and the insurance company has a 0 floor, the account will not lose money but the client still has to pay the COI fee.
Correct, the Cost of Insurance (COI) represents the fees associated with an Indexed Universal Life (IUL) policy, covering the full spectrum of benefits it offers. This is where the importance of a well-structured policy and a strategic index approach comes to the forefront. As specialists in retirement planning, our primary objective is to minimize the insurance component within the policy while staying within the allowable limits, thereby maximizing the funding aspect, often referred to as "max funded." When you consider the average cost of an IUL, properly structured throughout a lifetime, it typically hovers around 1%. Consequently, you're essentially allocating 1% of your resources to secure an array of advantages, including an amplified death benefit, substantial tax savings of 30-50%, valuable living benefits, and essential downside protection. In essence, it's an exceedingly compelling choice for a retirement savings vehicle.
Just to clarify, IUL cash value does not grow money guaranteed, correct? Would it not be a violation that claim you made in the beginning of the video, sir?
While there's no guarantee of an increase in value, you can rest assured that it won't decrease. In fact, the index crediting strategies we predominantly utilize come with a solid 1.25% floor, ensuring that you'll have a minimum return of 1.25%, even in the event of a decline in the index during that year. Take, for instance, 2008 when the S&P experienced a substantial loss of 39.93%; nevertheless, our clients still enjoyed a positive return of 1.25%. The same positive outcome occurred in 2022 when the S&P dropped by 17.29%, yet our clients again secured a 1.25% return. In summary, we adhere to the principle that "zero is your hero." This underscores the importance of downside protection in both Indexed Universal Life (IUL) and Index Annuity investments. This is precisely why I specialize in these two products for secure retirement planning. Our team achieved a remarkable milestone, generating over $11.2 billion in sales for these products last year, and our current monthly average exceeds a billion dollars. These figures unequivocally demonstrate the increasing demand for this solution in the realm of retirement planning.
Are you sure about all the upside of the market with no down size ?
Yes, how indexing works for both Indexed Universal Life and Indexed Annuities is there is a zero floor. We also have some index crediting options that have up to 1% floor so even in a down year your account would be credit 1%. Thanks for the question. Feel free to book a 1 on 1 meeting and we can simulate how an IUL works. link.sfgfinancialsolutions.com/widget/bookings/20-min-financial-zoom
@@kenfearer-sfgretirement you said “all the upside with none of the down side “ I thought there was a cap for the upside
@@dosmasdos9542 some index crediting options available do have a cap and some do not. One of the options that we use for all of our IULs currently has a 170% Participation Rate and a 1.25% floor. With this options in the past 20 years the yearly crediting has ranged from 1.25% up to 27.83% with an average of 9.48%. Again, it comes down to the company and crediting options available. Plus we meet with our clients every year to make any crediting option changes necessary to get the highest returns.
@@kenfearer-sfgretirementcan you give some more info on this option? What’s the catch?
Hi @@RajSingh-oo7lg , there is no catch. If you are interested in finding out more please fill out my 3 Minute Financial Health Review Form and would be happy to go over a complimentary retirement plan review...www.sfgfinancialsolutions.com/FIF
someone listened Doug Andrew haha, great value!
There is any monthly fee increase charge!!!!
If I take my money out, is it a loan or is it my money?
Hi, Yes it is in the form of a loan that is why it is not taxable. We actually call it a phantom loan meaning you can pay it back to the policy if you choose to or you can let your death benefit pay it back when you pass away. Also, key benefit of loans is your account value does not go down while you are borrowing from the policy. Therefore, if you are gaining say 7-12% on your policy and the loan rate is for example 4.5% you are earning the difference. It is called arbitrage. Insurance is the only vehicle that you can use the money for other purposes and have it still grow at the same time. This is why most major banks and corporations hold billions of dollars in these forms of life insurance. Feel free to book a meeting with our team for more details: link.sfgfinancialsolutions.com/widget/bookings/20-min-financial-zoom
@@kenfearer-sfgretirement you are referring to an indexed loan, correct? What about a basic or wash loan? If you take a loan (ex. At 3% and the company credits me 2% back) - the amount I took out does not participate in the indexed interest gain, correct? And I still owe the 1% on the loan + the coi fees if market hits a negative year.
How can I get a Max funded IUL that allows me to retire now and pay for it with my VA disability over the next 10 years
Hi Kyle, please feel free to book a consult with me and we can see what your options you have. Here is my booking link: link.sfgfinancialsolutions.com/widget/bookings/20-min-financial-zoom
What is the difference between Max Funded IUL and an Index annuity???
Life insurance is insurance on your life if you die. Annuity is insurance on your money in case you live too long. Annuities are typically meant for larger sums of money, baby boomer moving their 401k out of the market and into an account that will guarantee them an income stream while they live in retirement
Hello Erika, I'd like to explain the distinction between a Max Funded IUL and an Indexed Annuity, primarily in terms of their funding methods and accessibility to funds. Max Funded IULs are typically structured for the gradual contribution of monthly premiums over a specified period, while Annuities are more suitable for lump-sum investments, such as IRA or 401k rollovers, or when dealing with Non-Qualified Funds. We work with both options and the key to both is making sure they are set up with the right insurance company and designed properly. I work with over 80 of the top insurance companies in the country to find the right fit for my clients needs and goals. If you're interested, please don't hesitate to schedule a consultation with me. During our discussion, I can provide a detailed comparison of these two options and run real-time simulations tailored to your unique financial situation and objectives. This consultation is purely educational, and there is no obligation to commit to anything. It's an opportunity to gain a deeper understanding of your choices. apps.iulinsiders.com/widget/bookings/45-min-retirement-zoom
Great info!