I am discovering more and more as I get out and meet more prospective clients that many do not tend to their personal financial situations with much frequency or urgency. I find this odd due to the fact that besides you personal health and ones family, ones personal financial well being should be a top priority. I have also observed that one believes once they are employed and set up a 401k style retirement account that all their planning is complete. I guess because everyone else in the office or company " is doing it", it must be good is the mind set of so many. This approach is a micro (small view, narrow view with very little flexibility). This approach is dangerous and can be toxic to your overall goals and ambitions in life. Take a look at so many of our parents and loved ones who are in their 60's and 70's who followed this conventional model of planning. Ask them or ask yourself are they all set? Did they optimize all aspects of their financial world? Is all that they worked hard for protected from financial threats like inflation, market volatility, taxes, death, disability, lawsuit, longevity, property loss, divorce, etc? Has arrogance or procrastination hindered their ability to maximize their financial world. Has misinformation caused delays in their wealth building process?
From asking many of my prospective clients I have found most are not happy with the traditional financial planning model of Set It and Forget or Do It Yourself Planning.The problem seems to be they feel like there is no other alternative or are fearful to ask for help from a financial professional who may talk about things that do not make sense to them.
So I am here to express that there is another way. There is a way to learn about good constructive financial principles that can help build your financial awareness. There is a method to learn about and understand your own personal finances and feel confident around all your financial decisions. There is a way to protect the good work you may have already done, safely add and build lasting wealth. This is your opportunity to create something positive which can lead you to a better more comfortable life.Take the time to seek a financial coach whom you can build a trusting relationship, and who can help you move toward a financial future with more certainty than luck.
The Financial Coach,
Vincent Lanzante
Wednesday, February 13, 2013
Friday, January 25, 2013
Are you Prepared?
Have you learned the strategies to maximize your largest asset, your PENSION? Are you saving enough for retirement? Do you review your saving rate and increase it when possible? Do you have or know about putting the proper protections in place for your family and loved ones? Do you have strategies in place to make sure your pension continues not only for your life, but for the life of your spouse and/or children? Do you need help saving for your child's education? Are you saving enough for their education? Are you saving enough for retirement? Will you outlast your saving in retirement? Would you like to find out how to spend more in retirement and still leave a legacy behind to take care of loved ones? Learn the concepts to help grow you money and spend more of your money in your lifetime with no additional risk. We are here to help you understand some basic yet very important financial concepts to help safe guard you and your family from major financial losses any more. Our mission is to help build up our clients savings and protections for a safe financial future.We need Americans to learn to become savers once again in order to be able to spend and put money back in our economy. We can help one family at a time, protect and build wealth once again.
Vincent
The Financial Coach for all City Workers
Vincent
The Financial Coach for all City Workers
Sunday, January 13, 2013
Friday, March 16, 2012
Top 10 Reasons Why Whole Life Insurance Policies May Be Right For You
A whole life insurance policy is a type of life insurance policy that will pay a death benefit no matter how old you are when you die. Read on for the top 10 reasons why a whole life insurance may be the best policy for you.
1)You want to leave a death benefit: With a term life policy, you only leave a death benefit if you die during the term of the policy, which ranges from one year to 35 years depending on the policy. With whole life policy, the term is your life. This means that even if you die 50 years after you purchase the policy, you will leave a death benefit to your beneficiaries.
2)Your dependents will always need your income: The death benefit in a life insurance policy is designed to replace your income and to allow your family and dependents to live without your salary. If your dependents will always need your income whether you die in two years or thirty years, a whole life policy may be best.
3)You want forced savings: With a whole life policy, you may more than the premiums that it costs to insure you. With this extra money, your policy builds up a cash value which you can then borrow against or sell. Since you have to pay the premiums to keep your policy active, it is essentially a form of forced savings.
4)You want to invest in life insurance: With the extra money from the premiums you pay, the insurance company makes investments. You then earn a return off of those investments which helps your policy grow. You can also begin drawing income from the policy, thus earning a return on your money that you can tap into.
5)You are looking for a tax-deferred investment: Money invested in your life insurance policy grows tax free until you begin to withdraw it. If you borrow against the policy instead of withdrawing from it, you may be able to access your money without ever taking it out- thus using your money without paying taxes on the growth.
6)You want to save money with certainties not luck: Fixed rate whole life guarantees you a set payment for life and a set rate of return on your money.
7)You don't ever want to lose your life insurance: With a term life policy, when the term ends, you have to renew if you want to keep your life insurance. If you have become ill or too old, you may be unable to renew. This would leave you with no life insurance protection and your beneficiaries would receive no death benefit at all.
8)You don't mind slightly higher premiums: Whole life insurance costs slightly more each month term life insurance, both because of the lifetime protection and because of the investment features of the policy. Thus, if you have no wiggle room in your budget and are stretching to afford insurance, term life might be best because it is more affordable. On the other hand, if you have a bit of extra money, that extra money can go to good use in buying lifetime insurance and the forced savings of a whole life policy.
9)You want maximum peace of mind: With a whole life policy, you will know that you will always have insurance and that your family will never suffer a financial loss or financial ruin upon your death.
10)You want every dollar To work as hard for you as it can: These is no other asset that can give you and your loved ones lifetime protection, forced saving and have the guarantee of growth. This is called the velocity of money.
Call Vincent at 347-661-6234 to find out how Whole Life Insurance can enhance your overall financial world.
A whole life insurance policy is a type of life insurance policy that will pay a death benefit no matter how old you are when you die. Read on for the top 10 reasons why a whole life insurance may be the best policy for you.
1)You want to leave a death benefit: With a term life policy, you only leave a death benefit if you die during the term of the policy, which ranges from one year to 35 years depending on the policy. With whole life policy, the term is your life. This means that even if you die 50 years after you purchase the policy, you will leave a death benefit to your beneficiaries.
2)Your dependents will always need your income: The death benefit in a life insurance policy is designed to replace your income and to allow your family and dependents to live without your salary. If your dependents will always need your income whether you die in two years or thirty years, a whole life policy may be best.
3)You want forced savings: With a whole life policy, you may more than the premiums that it costs to insure you. With this extra money, your policy builds up a cash value which you can then borrow against or sell. Since you have to pay the premiums to keep your policy active, it is essentially a form of forced savings.
4)You want to invest in life insurance: With the extra money from the premiums you pay, the insurance company makes investments. You then earn a return off of those investments which helps your policy grow. You can also begin drawing income from the policy, thus earning a return on your money that you can tap into.
5)You are looking for a tax-deferred investment: Money invested in your life insurance policy grows tax free until you begin to withdraw it. If you borrow against the policy instead of withdrawing from it, you may be able to access your money without ever taking it out- thus using your money without paying taxes on the growth.
6)You want to save money with certainties not luck: Fixed rate whole life guarantees you a set payment for life and a set rate of return on your money.
7)You don't ever want to lose your life insurance: With a term life policy, when the term ends, you have to renew if you want to keep your life insurance. If you have become ill or too old, you may be unable to renew. This would leave you with no life insurance protection and your beneficiaries would receive no death benefit at all.
8)You don't mind slightly higher premiums: Whole life insurance costs slightly more each month term life insurance, both because of the lifetime protection and because of the investment features of the policy. Thus, if you have no wiggle room in your budget and are stretching to afford insurance, term life might be best because it is more affordable. On the other hand, if you have a bit of extra money, that extra money can go to good use in buying lifetime insurance and the forced savings of a whole life policy.
9)You want maximum peace of mind: With a whole life policy, you will know that you will always have insurance and that your family will never suffer a financial loss or financial ruin upon your death.
10)You want every dollar To work as hard for you as it can: These is no other asset that can give you and your loved ones lifetime protection, forced saving and have the guarantee of growth. This is called the velocity of money.
Call Vincent at 347-661-6234 to find out how Whole Life Insurance can enhance your overall financial world.
Sunday, January 29, 2012
Smart moves to maximize your Tax Refund
1. Start an Emergency fund. If you don't have an emergency fund, strongly consider opening one and depositing your windfall for a rainy day. While it might not be enough to create a full- fledged emergency fund, it'll be a good start.
2. Pay down your debt. Whether it's credit cards, an auto loan, or a student loan, you need to get that monkey off your back. So add your windfall to your debt snowball and keep on digging.
3.Adjust your withholdings. You should consider adjusting your withholdings so you don't end up giving the government an interest free loan during the upcoming year.
4. Up your current saving rate. Most American are not saving nearing enough for retirement. Although 10% is a good starting point, you should keep increasing your saving rate until you are near 30% saving rate.
5. Look into Increasing your protections. Make sure all your protection are in order. Health, disability, home, auto, and life insurance. If you are not properly protected everything you are building and saving for can be taken or lost in an instant.
Any questions or comments, please feel free to respond, post in comments or call us at 347-661-6234
2. Pay down your debt. Whether it's credit cards, an auto loan, or a student loan, you need to get that monkey off your back. So add your windfall to your debt snowball and keep on digging.
3.Adjust your withholdings. You should consider adjusting your withholdings so you don't end up giving the government an interest free loan during the upcoming year.
4. Up your current saving rate. Most American are not saving nearing enough for retirement. Although 10% is a good starting point, you should keep increasing your saving rate until you are near 30% saving rate.
5. Look into Increasing your protections. Make sure all your protection are in order. Health, disability, home, auto, and life insurance. If you are not properly protected everything you are building and saving for can be taken or lost in an instant.
Any questions or comments, please feel free to respond, post in comments or call us at 347-661-6234
Wednesday, January 18, 2012
The Simple Financial Plan for City Workers
The Simple City Worker Financial Plan
These 7 simple steps are the basis for creating a solid financial plan for you and your family. Many individuals and families are reluctant to start the process of reviewing their financial situation because they feel it is very time consuming and can become a very complex process. This is why I have created these 7 steps to start you on the right track and make the process simple and more enjoyable.
1. Protection First - Full Replacement / Lifetime Protection
This refers to having all your Insurances (Health, Life, Property & Casualty, etc.)
reviewed. Without the proper protections (foundation), everything else you build
can be taken lost or taken away.
2.Eliminate Bad Debts
Remember keep it simple, get rid of CREDIT CARD Debt.
3.Create A Budgeted Lifestyle
This means learn what $ is coming in, and what $ is going out each month.
Truly live within your means. Be true to yourself and your family.
4.Increase Your Savings
Pay yourself first, build a simple saving account/ money market account. This step may
take some time, but it is well worth it. This will help you stay liquid, also having available
funds on hand with no penalties and no fees. Very Important !!!
5.Reduce Tax Exposure
This step involves reviewing your your overall finances with a financial planner and
your CPA (accountant).
6. Minimize Risk
This is where you should be gaining your education/ knowledge on how risk and
reward can benefit you or can hurt you. A basic understanding is needed for this
step to evaluate your needs.
7. Overall Rate of Return
Although this is a important step, it has been proven that if put number 1, you are
chasing returns. Which means you are assuming a certain percentage to assure
and secure financial future.
ALTHOUGH SIMPLE, THIS PLAN HAS
BEEN STRUCTURED TO MAXIMIZE
LASTING WEALTH WITH CERTAINTY
NOT LUCK!!!
PLEASE CONTACT VINCENT (347-661-6234) TO SET UP A APPOINTMENT
TO DISCUSS HOW THIS PLAN CAN WORK FOR YOU AND YOUR FAMILY.
1. Protection First - Full Replacement / Lifetime Protection
This refers to having all your Insurances (Health, Life, Property & Casualty, etc.)
reviewed. Without the proper protections (foundation), everything else you build
can be taken lost or taken away.
2.Eliminate Bad Debts
Remember keep it simple, get rid of CREDIT CARD Debt.
3.Create A Budgeted Lifestyle
This means learn what $ is coming in, and what $ is going out each month.
Truly live within your means. Be true to yourself and your family.
4.Increase Your Savings
Pay yourself first, build a simple saving account/ money market account. This step may
take some time, but it is well worth it. This will help you stay liquid, also having available
funds on hand with no penalties and no fees. Very Important !!!
5.Reduce Tax Exposure
This step involves reviewing your your overall finances with a financial planner and
your CPA (accountant).
6. Minimize Risk
This is where you should be gaining your education/ knowledge on how risk and
reward can benefit you or can hurt you. A basic understanding is needed for this
step to evaluate your needs.
7. Overall Rate of Return
Although this is a important step, it has been proven that if put number 1, you are
chasing returns. Which means you are assuming a certain percentage to assure
you and your family a safe and happy future. Again you will be LUCKY if this
works for you. Saving on a consistent basis will give you and your family a safeand secure financial future.
ALTHOUGH SIMPLE, THIS PLAN HAS
BEEN STRUCTURED TO MAXIMIZE
LASTING WEALTH WITH CERTAINTY
NOT LUCK!!!
PLEASE CONTACT VINCENT (347-661-6234) TO SET UP A APPOINTMENT
TO DISCUSS HOW THIS PLAN CAN WORK FOR YOU AND YOUR FAMILY.
Thursday, October 27, 2011
Competent Decisions Around Life Insurance
Competent Decisions Around Life Insurance
By Vincent Lanzante “The Financial planner for all city workers”
The majority of people who buy life insurance do so because of a recent life event; marriage, pregnancy, having a new-born, etc. This moment marks the starting point of one of the most important decisions you will ever make. The two main concerns around purchasing life insurance is first, the amount, and second, the type.
The amount is calculated based on your current age and income, this is known as your Human Life Value.
The type of insurance is more complicated. Choosing the wrong kind of life insurance can do more damage to your financial plans than just about any other financial product today. Let’s take a look at the two main options of life insurance; term or permanent.
Term life insurance is pure insurance. It is the same concept as home owner’s insurance. If damage happens to your home, you are covered. Term life policies offer death benefit only, so if you die, you win (so to speak). If you live past the length of the policy, your beneficiaries get no money back.
Permanent life policies offer a death benefit and a "savings account" so that if you live, you get back at least some of, and often much more than, the amount you spent on your premiums. Depending on the company you choose to purchase your insurance from, these policies can be very flexible in the way you pay your premiums and access your cash values. The most important component of permanent life insurance is that it is permanent. Having a permanent, tax-free, guaranteed death benefit paid to your family on the day that you die provides several options in retirement that you wouldn’t otherwise have.
The saying you always hear is, "buy term and invest the difference." This ‘common’ belief has been detrimental to the majority of retirees today. In order to make confident decisions around purchasing life insurance, contact a competent financial professional that specializes in this area.
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