In today’s podcast, David Phillips discusses the blessing and the curse of building and leaving your Qualified Accounts, like your IRA or 401k to your children and grandchildren. While our goal is to build security for our future retirement, there is such thing as too much. By leaving our Qualified money to our heirs we are simply subjecting them to a greater tax on their income as well as on the Qualified money you leave them.

The 2020 SECURE Act eliminated the Stretch IRA and introduced the onerous “10-Year-Rule.” All inherited Qualified Accounts must be distributed and cleaned out 10 years from the passing of the surviving spouse. In Part 1 of the series of Qualified Account distributions, David will not only discuss the new rules of engagement, but he will also share key strategies that you can implement to help mitigate this huge tax liability.

Chapters:

01:30 – One of the most common and most destructive estate planning mistakes is to NOT plan for the proper distribution of your Qualified Accounts to your children and grandchildren.
02:15 – The number one enemy of retirement is longevity. Living too long can stress our assets so much that we eventually run out of money.
03:00 – Another enemy to our retirement savings is taxes. Since Qualified Accounts like an IRA have never been taxed, when we, or our beneficiaries touch even a dime, income taxes are levied at the tax bracket of the recipient.
04:45 – The US government plans on using “off balance sheet assets,” like cash in Qualified Accounts to pay off the $32 trillion deficient.
06:00 – Introducing The 2020 SECURE Act – The Tax Bomb set to evaporate 50% of your Qualified Accounts and disinherit your children and grandchildren.
07:00 – The SECURE Act eliminated the Stretch IRA. The Bombshell Battle Plan, Special Report explains the rules as well as way to navigate the perils of leaving Qualified money to your children. It is available at www.shop.epmez.com
09:00 – Required Minimum Distributions (RMD) now begin at age 73. Distributions are required from age 73 until the account is run dry. If there is any left and the children inherit it, they will have to take distributions based on the same RMD table as the grantor.
10:00 – How to mitigate this forced income tax? Spend it, convert it to a Roth IRA, give it to charity, and/or create a Tax-Free Wealth Creation Strategy with a permanent life insurance policy.
16:00 – Don’t disinherit your family. Go on the offensive and read The Bombshell Battle Plan special report.
17:30 – Wealth Creation through the Discounted Dollar Strategy. Take a few dimes today to create guaranteed dollars for tomorrow to pay the taxes.
18:00 – More insights and solutions in the next episode.

Learn more:

• Estate Planning Made Easy website
• shop.empez.com, use discount code: EPMEZ to receive a 50% discount

• The 10 Most Common Estate Planning Mistakes, 4th Edition, by David T. Phillips
• The Bombshell Battle Plan: How to Defend Against the IRS Secret Weapon, at shop.epmez.com
• Generational Wealth Strategies newsletter

Contact:
• Estate Planning Specialists at 888-892-1102
• The Durfee Law Group at 480 324-8000

See omnystudio.com/listener for privacy information.

In this episode David Phillips, CEO of Estate Planning Specialists shares some exciting investor news. First he tells the story of his Aunt Mary, who had to “spend down” her meager assets so she could qualify for Medicaid, leaving no inheritance for her family. There is a new Return of Premium Long Term Care Plan that is providing 10% more in monthly TAX FREE Indemnity Benefit than the current champion. For example, a 60 year old with a $1 deposit immediately has $5 available for care, growing to $7 at age 70 and $10 at age 80, (a transfer $100k = $500,000 in Long Term Care Benefit immediately, which grows to $700,000 in benefit in 10 years).

The most exciting news of this announcement is that no medical exam or qualifying interview are required if you apply between ages 40 and 65. If you are healthy with a clean medical background, you can be approved within 24 hours! Go to ROPLTC.com or epmez.com and order a personal example on how the plan would work for you and your family. Or order the undated Return of Premium LTC for free by using the discount code CLIENT at shop.epmez.com.

Chapters:

0:00 – Will announce a breakthrough in the world of Long-Term Care
0:30 - The story of Aunt Mary
2:30 – Aunt Mary’s goal in life was to leave a financial legacy to my Mother and Aunt – Because she had to “spend down” her meager assets so she could qualify for Medicaid, the results were sadly there was no money left for anyone.
3:30 – 72% probability that if we are over 65 we WILL experience a long term medical event
4:00 – Introduction of a brand-new Return of Premium LTC Plan with benefit 10% more than the current champion
6:15 – With this ROP LTC plan a 60-year-old repositions $1 deposit from your right pocket to your left pocket, it immediately increases to $5, for care.
8:15 – At age 70, the $1 increases to $7 because of the 3% inflation rider. At age 80, or 20 years, a 60-year old’s $1 grows to $10!
9:30 – The monthly Long Term Care benefit is paid out as a Cash Indemnity TAX FREE monthly benefit.
10:15 – If you don’t trigger the LTC monthly benefit and you pass away, your beneficiaries will receive all of your deposit, plus a multiple of that deposit ($100,000 deposit = $170,000).
10:45 – ROP LTC is still an asset on your balance sheet – not a “use it or lose it proposition.”
12:00 – Order ROP LTC Special report at shop.epmez.com, use the discount code CLIENT to receive the report at no cost.
14:00 – Go to ROPLTC.com, or empez.com and order a personal example on how the plan would work for you and your family
14:30 – Most exciting part: No medical exam or qualifying interview if you apply between ages 40 and 65. If you are healthy with a clean medical background, you can be approved within 24 hours!
15:30 – The new ROP LTC plan is available up to age 76 if you are moderately healthy and have a cognitive interview
16:30 – Order the undated Special Report at shop.epmez.com, use the discount code CLIENT
17:00 – Next episode – How to plan the proper distribution of your IRA to the next generation.

Learn more:

• Estate Planning Made Easy website
• shop.empez.com, use discount code: EPMEZ to receive a 50% discount

• The 10 Most Common Estate Planning Mistakes, 4th Edition, by David T. Phillips
• Generational Wealth Strategies newsletter

Contact:
• Estate Planning Specialists at 888-892-1102
• The Durfee Law Group at 480 324-8000

See omnystudio.com/listener for privacy information.

In this podcast, David Phillips continues his discussion about wealth strategies and retirement savings with Todd Phillips, the author of the book "The Future Retirement Savings." Together they show you how to protect your estate from investment loss and market risk, discussing how you can avoid one of the main Longevity Risks, which is running out of money. They cover important topics such as creating guaranteed lifetime income, fool proof your investments by investing in safe money vehicles that allow you to participate only in the upside of the market, with zero market risk, and how to earn an upfront deposit bonus of 8%.

Chapters:
0:00 – Using permanent life insurance to guarantee your posterity an inheritance, no matter how the markets perform, how much you spend or the taxation laws of the day.
1:00 – Introduction of Todd Phillips, co-author of Generational Wealth Strategies Newsletter – Safe Money Corner and Best of the Month columns. (see show notes)
2:00 – How to end up a winner at the Blackjack table: TAKE SOME CHIPS OFF THE TABLE
3:50 – What is “Safe Money Investing?” – Todd Phillips
4:00 – Guaranteed lifetime return of at least 5%
5:50 – Todd’s book The Future of Retirement Savings (Guaranteed Income: How to Lock in Double-Digit Returns for the Rest of Your Life).
7:00 – What is an Indexed Annuity?
8:10 – Indexed Annuity – Use a stock market index as your interest market, but not actually investing in the index. When it is negative – you get zero interest for the earnings period, with no loss to your previous gains.
11:50 – Difference between income return and walkaway return. Todd: “If something sounds too good to be true, it usually is!”
12:10 – Indexed Annuities – behind the scenes!
14:10 – Todd’s favorite Indexed Annuity today, $100,000 deposit gets an 8% upfront deposit bonus = $108,000 total deposit.
15:58 – Worry Free Income For Life Annuity - 65 year old couple deposits $1 million = $111,000 a year guaranteed income for life if they wait 5 years to begin taking income. Will double if either couple has a Long Term Care event.
18:10 – Staff trained to help clients find “safe money” opportunities. Call 1-888-892-1102
18:40 – Generational Wealth Strategies newsletter – Best of the Month – A Unicorn

Learn more

• Estate Planning Made Easy website
• shop.empez.com, use discount code: EPMEZ to receive a 50% discount

• The 10 Most Common Estate Planning Mistakes, 4th Edition, by David T. Phillips
• Generational Wealth Strategies newsletter
• Todd’s Safe Money Corner: Best of the Month column
• ROPLTC.com website for information specific to Return of Premium LTC (ROP LTC).


• After LCS Financial Snapshot chart
• Call 888-892-1102 to preorder Todd Phillips’ new book: Guaranteed Income: How to Lock in Double-Digit Returns for the Rest of Your Life, www.shop.epmez.com

Contact:
• Estate Planning Specialists at 888-892-1102
• The Durfee Law Group at 480 324-8000

See omnystudio.com/listener for privacy information.