How Can I Upgrade My Insurance — Tax-Free? by Joe Swanson, CRPS of www.joeswanson.com
Responding to the changing needs of consumers, the life insurance industry has developed some exciting alternatives. These alternatives go much further in satisfying a variety of financial needs and objectives than traditional types of insurance and annuities.
Advancements
Modern contracts offer much more financial flexibility than traditional alternatives. For example, universal life and variable universal life insurance policies allow you to adjust premiums and death benefits to suit your financial needs.
Modern contracts can also provide you with much more financial control. While traditional vehicles like whole life insurance and fixed annuities provide returns that are determined by the insurance company, newer alternatives enable you to make the choices that will determine your returns. For example, variable annuities and variable universal life insurance allow you to allocate your premiums among a variety of investment subaccounts. These subaccounts range from conservative choices, such as fixed-interest and money market portfolios, to more aggressive, growth-oriented portfolios. Your returns will be based on the performance of these subaccounts.
Withdrawals made from a variable annuity prior to age 591/2 may be subject to a 10 percent penalty. Generally, a surrender penalty will apply if the withdrawal is made during the early years of the policy. Variable annuity subaccounts fluctuate with changes in market conditions. When surrendered, your principal may be worth more or less than the original amount invested.
There are many differences between variable- and fixed-insurance products. Variable universal life insurance offers several investment subaccounts that invest in a portfolio of securities whose principal and rate of return fluctuate. Also, there are additional fees and charges associated with a variable universal life insurance policy that are not found in a whole life policy, such as management fees. Whole life insurance offers a fixed account, generally guaranteed by the issuing insurance company.
A Dilemma
So what do you do if you’ve accumulated a substantial amount within your old life insurance policy or annuity? If you cash out your existing contracts and trade up to one that better suits your financial needs, you will have to pay income taxes on what you’ve saved.
One solution to this problem is known as the “1035 exchange,” found in Internal Revenue Code Section 1035. This provision allows you to exchange an existing insurance or annuity contract for a newer contract without having to pay taxes on the accumulation in your old contract. This way, you gain new opportunities for flexibility and tax-deferred accumulation without paying taxes on what you’ve already built up.
The rules governing 1035 exchanges are complex, and you may incur surrender charges from your “old” policy. In addition, you may be subject to new sales and surrender charges for the new policy. You’ll need the help of a financial professional. But it may be worth it. If you want to take advantage of today’s modern alternatives, consider a 1035 exchange.
Joe Swanson Minnesota Financial Planner
© 2006 Emerald Publications
Joe Swanson, CRPS
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259 Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
Sunday, December 31, 2006
Saturday, December 30, 2006
Minnesota Financial Planning Advisor www.joeswanson.com
Retirement Overconfidence?
by Joe Swanson
How confident are you that your retirement savings will last the duration?
In a 2006 survey, even though 73 percent of retirees indicated that they think they will have enough money for a comfortable retirement, 42 percent admitted that they are more concerned about their financial future than they were when they first retired.1
Many workers have unrealistic expectations about how much income they will need to maintain a comfortable lifestyle in retirement. These survey results illustrate why some people may be overconfident about their retirement preparations.
Nearly 70 percent of workers expect to continue working in their retirement years to supplement their income. But it's possible that some people might have to stop working earlier than they expected as a result of downsizing, disability, or other unforeseen events. Only 27 percent of the retirees surveyed said they have actually worked for pay in retirement.2
Only 42 percent of workers have tried to calculate how much money they will need in order to retire comfortably. About 73 percent of workers who have not done a calculation simply guess.3
Sixty percent of retirees do not have employer-sponsored health care. Of those who do, 27 percent have to pay for either part or all of the insurance coverage that their employers offer.4
Two-thirds of retirees believe they will live longer than expected, and half of retirees think that either they or their spouse will need long-term care or assisted living.5
Living on a fixed income becomes more difficult when inflation is on the rise. Seventy percent of retirees believe it is likely that inflation will rise by 7 percent or more a year during their retirement.6
Your retirement, like any other time in your life, may be marked by financial ups and downs. A well-thought-out strategy can help you adjust to unexpected bumps and stay on the path toward a comfortable retirement.
1–6) 2006 Retirement Confidence Survey, Employee Benefit Research Institute
Joe Swanson, Financial Advisor Minnesota CRPS 401k www.joeswanson.com
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
•
• Fax: (952) 277-4301 Phone: (952) 277-4259 Toll Free: 800 277-7095
• ww.joeeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
http://www.joeswanson.com/location.cfm
by Joe Swanson
How confident are you that your retirement savings will last the duration?
In a 2006 survey, even though 73 percent of retirees indicated that they think they will have enough money for a comfortable retirement, 42 percent admitted that they are more concerned about their financial future than they were when they first retired.1
Many workers have unrealistic expectations about how much income they will need to maintain a comfortable lifestyle in retirement. These survey results illustrate why some people may be overconfident about their retirement preparations.
Nearly 70 percent of workers expect to continue working in their retirement years to supplement their income. But it's possible that some people might have to stop working earlier than they expected as a result of downsizing, disability, or other unforeseen events. Only 27 percent of the retirees surveyed said they have actually worked for pay in retirement.2
Only 42 percent of workers have tried to calculate how much money they will need in order to retire comfortably. About 73 percent of workers who have not done a calculation simply guess.3
Sixty percent of retirees do not have employer-sponsored health care. Of those who do, 27 percent have to pay for either part or all of the insurance coverage that their employers offer.4
Two-thirds of retirees believe they will live longer than expected, and half of retirees think that either they or their spouse will need long-term care or assisted living.5
Living on a fixed income becomes more difficult when inflation is on the rise. Seventy percent of retirees believe it is likely that inflation will rise by 7 percent or more a year during their retirement.6
Your retirement, like any other time in your life, may be marked by financial ups and downs. A well-thought-out strategy can help you adjust to unexpected bumps and stay on the path toward a comfortable retirement.
1–6) 2006 Retirement Confidence Survey, Employee Benefit Research Institute
Joe Swanson, Financial Advisor Minnesota CRPS 401k www.joeswanson.com
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
•
• Fax: (952) 277-4301 Phone: (952) 277-4259 Toll Free: 800 277-7095
• ww.joeeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
http://www.joeswanson.com/location.cfm
Saturday, December 9, 2006
Tax Season Leads to Increased Risk for Identity Theft
Tax Season Leads to Increased Risk for Identity Theft
Joe Swanson, Financial Advisor Minnesota www.joeswanson.com
(ARA) - Each year consumers spend many hours preparing taxes hoping they don't owe the government money. But what many fail to realize is that the government isn't the only one who may collect their hard earned cash -- so may identity thieves.In a time where one man's trash is another man's treasure, it's important to ensure that the multitude of documents used to prepare taxes are appropriately stored or destroyed. In 2005, consumers lost nearly $57 billion to criminals who stole their identities. Although this statistic is alarming, there are ways to protect yourself from the crime, especially during tax season.While it may appear easier to file everything, paper trails are still an identity thief's dream. Recent research conducted by Fellowes, Inc., the leading shredder manufacturer; shows nearly 40 percent of Americans believe identity theft is most likely to occur through online exchanges. In reality, Internet fraud represents only nine percent of the crime. The majority of identity theft crimes occur through paper documents and stolen information, making it crucial to properly store or destroy the sensitive documents used during tax season."Tax season can leave consumers with mountains of paperwork, which makes them more vulnerable to identity theft," says Kristen Gehrig, director, global marketing for Fellowes, Inc. "Shredding is one of the easiest ways to ensure your information doesn't end up in the wrong hands, but you also need to be conscious about what documents are important to keep." Simply knowing what needs to be filed or shredded will quickly alleviate potential problems.* Tax returns: The IRS has three years to challenge information in your return and six years to conduct an audit based on unreported income. Keep tax returns and supporting records, like W-2s and 1099s for at least seven years.* Investment statements for taxable accounts: Most brokerage firms and mutual fund companies send annual statements summarizing the year's transactions. Once you have these, you should shred your monthly and/or quarterly statements. * Bank statements: Keep statements that back up information on your tax returns for up to seven years. Other bank statements can be shredded after reviewing for errors.* Credit card statements: Keep statements for big purchases like jewelry or large appliances. You might need them for warranties. If you put charitable contributions on your credit card, keep the statement for your tax records. Other monthly statements can be shredded once you've reviewed them for errors or unauthorized purchases.* Pay stubs: While many people say to save these, it's a huge mistake. They contain everything an identity thief needs to open an account. Keep three months of history only if you are applying for a mortgage. * ATM receipts: Shred all receipts after you balance your bank statement. * Canceled checks: With no significance for tax or other purposes, these should be destroyed after one year. * Retirement plan contributions: Keep records of contributions to non-deductible individual retirement accounts, such as a Roth IRA, indefinitely. Without them, you may find yourself paying taxes again when the money is withdrawn. Some financial institutions keep records of IRA contributions, but it's best not to count on it. * Insurance policies, wills and other legal documents: These documents should be kept indefinitely. For documents you need to keep, consider storing them in a safe and accessible place, such as a fireproof box that is well hidden in your home. When destroying records, it's best to use a shredder that can slice credit cards and CDs and has confetti-cut capabilities, such as the Fellowes PS-77Cs. Confetti-cut shredders ensure that private information is reduced to small, unidentifiable pieces, making it nearly impossible for a would-be identity thief to piece the information back together.As shredders become a necessary household product, it's important to choose a shredder that not only protects your family's identity, but also its safety. The Fellowes PS-77Cs alleviates shredder safety concerns with its SafeSense technology, which shuts down the shredder when it senses that hands are too close to the paper opening.Additionally, a few more protective measures against identity theft should be taken during tax season. If you're filing your tax returns over the Internet, make sure your computer has updated anti-virus, anti-spyware and firewall software. It is also imperative to shred all paperwork used to calculate taxes such as receipts, bank records and various forms. Finally, pay particular attention to W-2 or 1099 forms because they contain your Social Security number, which is a would-be thief's dream. A missing form may leave you vulnerable to the crime. For additional identity theft prevention tips and information on how long to keep financial records, visit www.IDconfidence.org or check with your tax professional.Courtesy of ARA Content
Joe Swanson www.joeswanson.com swanson.joe@joeswanson.com
Joe Swanson, Financial Advisor Minnesota www.joeswanson.com
(ARA) - Each year consumers spend many hours preparing taxes hoping they don't owe the government money. But what many fail to realize is that the government isn't the only one who may collect their hard earned cash -- so may identity thieves.In a time where one man's trash is another man's treasure, it's important to ensure that the multitude of documents used to prepare taxes are appropriately stored or destroyed. In 2005, consumers lost nearly $57 billion to criminals who stole their identities. Although this statistic is alarming, there are ways to protect yourself from the crime, especially during tax season.While it may appear easier to file everything, paper trails are still an identity thief's dream. Recent research conducted by Fellowes, Inc., the leading shredder manufacturer; shows nearly 40 percent of Americans believe identity theft is most likely to occur through online exchanges. In reality, Internet fraud represents only nine percent of the crime. The majority of identity theft crimes occur through paper documents and stolen information, making it crucial to properly store or destroy the sensitive documents used during tax season."Tax season can leave consumers with mountains of paperwork, which makes them more vulnerable to identity theft," says Kristen Gehrig, director, global marketing for Fellowes, Inc. "Shredding is one of the easiest ways to ensure your information doesn't end up in the wrong hands, but you also need to be conscious about what documents are important to keep." Simply knowing what needs to be filed or shredded will quickly alleviate potential problems.* Tax returns: The IRS has three years to challenge information in your return and six years to conduct an audit based on unreported income. Keep tax returns and supporting records, like W-2s and 1099s for at least seven years.* Investment statements for taxable accounts: Most brokerage firms and mutual fund companies send annual statements summarizing the year's transactions. Once you have these, you should shred your monthly and/or quarterly statements. * Bank statements: Keep statements that back up information on your tax returns for up to seven years. Other bank statements can be shredded after reviewing for errors.* Credit card statements: Keep statements for big purchases like jewelry or large appliances. You might need them for warranties. If you put charitable contributions on your credit card, keep the statement for your tax records. Other monthly statements can be shredded once you've reviewed them for errors or unauthorized purchases.* Pay stubs: While many people say to save these, it's a huge mistake. They contain everything an identity thief needs to open an account. Keep three months of history only if you are applying for a mortgage. * ATM receipts: Shred all receipts after you balance your bank statement. * Canceled checks: With no significance for tax or other purposes, these should be destroyed after one year. * Retirement plan contributions: Keep records of contributions to non-deductible individual retirement accounts, such as a Roth IRA, indefinitely. Without them, you may find yourself paying taxes again when the money is withdrawn. Some financial institutions keep records of IRA contributions, but it's best not to count on it. * Insurance policies, wills and other legal documents: These documents should be kept indefinitely. For documents you need to keep, consider storing them in a safe and accessible place, such as a fireproof box that is well hidden in your home. When destroying records, it's best to use a shredder that can slice credit cards and CDs and has confetti-cut capabilities, such as the Fellowes PS-77Cs. Confetti-cut shredders ensure that private information is reduced to small, unidentifiable pieces, making it nearly impossible for a would-be identity thief to piece the information back together.As shredders become a necessary household product, it's important to choose a shredder that not only protects your family's identity, but also its safety. The Fellowes PS-77Cs alleviates shredder safety concerns with its SafeSense technology, which shuts down the shredder when it senses that hands are too close to the paper opening.Additionally, a few more protective measures against identity theft should be taken during tax season. If you're filing your tax returns over the Internet, make sure your computer has updated anti-virus, anti-spyware and firewall software. It is also imperative to shred all paperwork used to calculate taxes such as receipts, bank records and various forms. Finally, pay particular attention to W-2 or 1099 forms because they contain your Social Security number, which is a would-be thief's dream. A missing form may leave you vulnerable to the crime. For additional identity theft prevention tips and information on how long to keep financial records, visit www.IDconfidence.org or check with your tax professional.Courtesy of ARA Content
Joe Swanson www.joeswanson.com swanson.joe@joeswanson.com
Friday, December 1, 2006
When Is Term Life Insurance A Good Choice?
When Is Term Life Insurance A Good Choice?
Term life insurance is pure insurance. When you purchase a term policy, you are buying coverage for a specific period of time. If you die within the time period specified in your policy, the insurance company will pay your beneficiaries the face value of your policy.
Term insurance offers temporary protection. This differs from the permanent forms of life insurance, such as whole life, universal life, and variable universal life, which generally offer lifetime protection. And unlike other types of life insurance, term insurance accumulates no cash value. You don’t receive a refund at the end of the policy period if you haven’t died. Term life insurance maybe appropriate for temporary life insurance needs or when your cash needs make permanent life insurance unaffordable.
Term insurance is sold for a specified period of time. Annual renewable term life insurance is renewable every year, without proof of insurability. The main drawback associated with annual renewable term, as well as other types of term insurance, is that premiums increase every time you renew your life insurance coverage. The reason is simple: As you get older, your chances of dying increase. And as the likelihood of your death increases, the risk that the insurance company will have to pay a death benefit goes up with it. Unfortunately, term insurance can become too expensive right when you need it most – that is, in your later years.
There are several variations of term insurance that allow for level premiums. For example, you may be able to obtain 5-, 10-, 20-, or even 30-year level term, or level term payable to age 65. In addition, you can buy decreasing term life insurance, for which you pay level premiums for a death benefit that decreases every year. Each of these types of term life insurance has its own particular uses. For example, decreasing term insurance is often used to provide the funds to pay off a home mortgage if a spouse dies.
Life insurance can be used to achieve a variety of goals.The cost and availability of the type of life insurance that is appropriate for you depends on factors such as age, health, and the type and amount of insurance you need. If you are considering purchasing life insurance, consult a professional to explore your options.
© 2006 Emerald Publications
Joe Swanson
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
Term life insurance is pure insurance. When you purchase a term policy, you are buying coverage for a specific period of time. If you die within the time period specified in your policy, the insurance company will pay your beneficiaries the face value of your policy.
Term insurance offers temporary protection. This differs from the permanent forms of life insurance, such as whole life, universal life, and variable universal life, which generally offer lifetime protection. And unlike other types of life insurance, term insurance accumulates no cash value. You don’t receive a refund at the end of the policy period if you haven’t died. Term life insurance maybe appropriate for temporary life insurance needs or when your cash needs make permanent life insurance unaffordable.
Term insurance is sold for a specified period of time. Annual renewable term life insurance is renewable every year, without proof of insurability. The main drawback associated with annual renewable term, as well as other types of term insurance, is that premiums increase every time you renew your life insurance coverage. The reason is simple: As you get older, your chances of dying increase. And as the likelihood of your death increases, the risk that the insurance company will have to pay a death benefit goes up with it. Unfortunately, term insurance can become too expensive right when you need it most – that is, in your later years.
There are several variations of term insurance that allow for level premiums. For example, you may be able to obtain 5-, 10-, 20-, or even 30-year level term, or level term payable to age 65. In addition, you can buy decreasing term life insurance, for which you pay level premiums for a death benefit that decreases every year. Each of these types of term life insurance has its own particular uses. For example, decreasing term insurance is often used to provide the funds to pay off a home mortgage if a spouse dies.
Life insurance can be used to achieve a variety of goals.The cost and availability of the type of life insurance that is appropriate for you depends on factors such as age, health, and the type and amount of insurance you need. If you are considering purchasing life insurance, consult a professional to explore your options.
© 2006 Emerald Publications
Joe Swanson
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
Thursday, November 23, 2006
Life Insurance for Living
...Life Insurance for Living Part 2
Of course, this strategy might not be suitable for everyone. Access to cash values through borrowing, partial surrenders, or withdrawals can reduce the policy's cash value and death benefit, increase the chance that the policy will lapse, and possibly result in a tax liability. Consult your tax advisor regarding your personal situation. A permanent life insurance policy can help protect your family when your children are young and later be tapped to help pay for college or retirement. You might want to learn more about the role that life insurance can play during your lifetime.
The cost and availability of life insurance depend on such factors as age, health, and the type and amount of insurance purchased.3 Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable by having the policy approved.
1) American Council of Life Insurers, 20062) Policy withdrawals are not subject to taxation up to the amount paid into the policy (the cost basis). If the policy is a Modified Endowment Contract, policy loans and/or withdrawals are taxable to the extent of gain and are subject to a 10 percent tax penalty. 3) As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications.
Joe Swanson, Financial Advisor Minnesota
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259 Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
Of course, this strategy might not be suitable for everyone. Access to cash values through borrowing, partial surrenders, or withdrawals can reduce the policy's cash value and death benefit, increase the chance that the policy will lapse, and possibly result in a tax liability. Consult your tax advisor regarding your personal situation. A permanent life insurance policy can help protect your family when your children are young and later be tapped to help pay for college or retirement. You might want to learn more about the role that life insurance can play during your lifetime.
The cost and availability of life insurance depend on such factors as age, health, and the type and amount of insurance purchased.3 Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable by having the policy approved.
1) American Council of Life Insurers, 20062) Policy withdrawals are not subject to taxation up to the amount paid into the policy (the cost basis). If the policy is a Modified Endowment Contract, policy loans and/or withdrawals are taxable to the extent of gain and are subject to a 10 percent tax penalty. 3) As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications.
Joe Swanson, Financial Advisor Minnesota
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259 Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
Minnesota Life Insurance
Buying Life Insurance in Minnesota
From: Joe Swanson Financial Advisor in Minnesota
Life Insurance for Living
More than two-thirds of American families include life insurance in their financial strategies.1 Many of these people probably think of life insurance as a source of ready cash in the event that a primary wage earner's death creates a financial hardship – and you should, too.
You must have a need for a death benefit in order for life insurance to be a suitable purchase. But there are some less common uses for permanent life insurance that you may not have considered.
Over time, your need for a life insurance death benefit may change – perhaps because your children are grown and no longer depend on your income, or your mortgage is almost paid off. If these events occur, a permanent life insurance policy might play a different role in your life.
Supplemental Retirement Income
A permanent life insurance policy has the potential to accumulate cash value on a tax-deferred basis. After a period of time, you may be able to withdraw any cash value up to your cost basis in the policy, which is the amount of premiums paid, without incurring any income tax liability.2
When your cost basis has been withdrawn, you may be able to borrow against the death benefit. However, the amount of any outstanding loans plus any interest will be deducted from the death benefit after the insured has died. To be continued...
• Joe Swanson, Financial Advisor Minnesota
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
From: Joe Swanson Financial Advisor in Minnesota
Life Insurance for Living
More than two-thirds of American families include life insurance in their financial strategies.1 Many of these people probably think of life insurance as a source of ready cash in the event that a primary wage earner's death creates a financial hardship – and you should, too.
You must have a need for a death benefit in order for life insurance to be a suitable purchase. But there are some less common uses for permanent life insurance that you may not have considered.
Over time, your need for a life insurance death benefit may change – perhaps because your children are grown and no longer depend on your income, or your mortgage is almost paid off. If these events occur, a permanent life insurance policy might play a different role in your life.
Supplemental Retirement Income
A permanent life insurance policy has the potential to accumulate cash value on a tax-deferred basis. After a period of time, you may be able to withdraw any cash value up to your cost basis in the policy, which is the amount of premiums paid, without incurring any income tax liability.2
When your cost basis has been withdrawn, you may be able to borrow against the death benefit. However, the amount of any outstanding loans plus any interest will be deducted from the death benefit after the insured has died. To be continued...
• Joe Swanson, Financial Advisor Minnesota
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
Sunday, November 19, 2006
Will Social Security Retire Before I Do? at www.joeswanson.com
Will Social Security Retire Before I Do?
People have traditionally seen Social Security benefits as the foundation of their retirement planning programs. The Social Security contributions deducted from your paycheck have, in effect, served as a government-enforced retirement savings plan.
However, the Social Security system is under increasing strain. Better health care and longer life spans have resulted in an increasing number of people drawing Social Security benefits. And as the baby boom generation (those born between 1946 and 1964) approaches retirement, even greater demands will be placed on the system.
In 1945, there were 41.9 active workers to support each person receiving Social Security benefits. In 2000, there were only 3.4 workers supporting each Social Security pensioner. And it is projected that by 2030, there will be only 2.1 active workers to support each Social Security pensioner.1
You should consider that as your income gets higher, Social Security replaces a proportionally smaller percentage of retirement benefits. It used to be that you could receive full benefits only after you reached age 65. But in 2003, the age to qualify for full benefits began to increase on a graduated scale. By 2027, the age to qualify for full Social Security benefits will have increased to age 67, where it is scheduled to remain.
That means in the future, you will probably have to wait longer to qualify for full Social Security benefits to start replacing a smaller percentage of your pre-retirement income.
Your long-term retirement planning program should recognize Social Security benefits as playing a more limited role when calculating required retirement income. Indeed, some financial professionals suggest ignoring Social Security altogether when developing a retirement income plan.
Source: 1 Social Security Administration
Note: The Social Security Administration will now assist you in calculating your projected retirement benefits. You can call 1-800-772-1213 and ask for Form SSA-7004, the “Personal Earnings and Benefit Estimate Statement,” or you can access the form on the Internet at www.ssa.gov. Complete the form, return it to the Social Security Administration, and you will receive an estimate of your benefits.
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
People have traditionally seen Social Security benefits as the foundation of their retirement planning programs. The Social Security contributions deducted from your paycheck have, in effect, served as a government-enforced retirement savings plan.
However, the Social Security system is under increasing strain. Better health care and longer life spans have resulted in an increasing number of people drawing Social Security benefits. And as the baby boom generation (those born between 1946 and 1964) approaches retirement, even greater demands will be placed on the system.
In 1945, there were 41.9 active workers to support each person receiving Social Security benefits. In 2000, there were only 3.4 workers supporting each Social Security pensioner. And it is projected that by 2030, there will be only 2.1 active workers to support each Social Security pensioner.1
You should consider that as your income gets higher, Social Security replaces a proportionally smaller percentage of retirement benefits. It used to be that you could receive full benefits only after you reached age 65. But in 2003, the age to qualify for full benefits began to increase on a graduated scale. By 2027, the age to qualify for full Social Security benefits will have increased to age 67, where it is scheduled to remain.
That means in the future, you will probably have to wait longer to qualify for full Social Security benefits to start replacing a smaller percentage of your pre-retirement income.
Your long-term retirement planning program should recognize Social Security benefits as playing a more limited role when calculating required retirement income. Indeed, some financial professionals suggest ignoring Social Security altogether when developing a retirement income plan.
Source: 1 Social Security Administration
Note: The Social Security Administration will now assist you in calculating your projected retirement benefits. You can call 1-800-772-1213 and ask for Form SSA-7004, the “Personal Earnings and Benefit Estimate Statement,” or you can access the form on the Internet at www.ssa.gov. Complete the form, return it to the Social Security Administration, and you will receive an estimate of your benefits.
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
Saturday, November 18, 2006
What Key Estate Planning Tools Should I Know About?
What Key Estate Planning Tools Should I Know About?
Planning is a part of nearly everything we do in life. It’s even a part of dying. How will you preserve your assets from estate taxes and probate fees? How will you ensure distribution according to your wishes? Who will make financial and medical decisions in the event of your incapacity?
By taking steps in advance, you have a greater say in how these questions are answered. And isn’t that how it should be?
Wills and Trusts
Wills and trusts are two of the most popular estate planning tools. Both allow you to spell out how you would like your property to be distributed, but they also go far beyond that.
Just about everyone needs a will. Besides enabling you to determine the distribution of your property, a will gives you the opportunity to nominate your executor and guardians for your minor children. If you fail to make such designations through your will, the decisions will probably be left to the courts. Bear in mind that property distributed through your will is subject to probate, which can be a time-consuming and costly process.
Trusts differ from wills in that they are actual legal entities. Like a will, trusts spell out how you want your property distributed. Trusts let you customize the distribution of your estate with the added advantages of property management and probate avoidance.
Wills and trusts are not mutually exclusive. While not everyone with a will needs a trust, all those with trusts should have a will as well.
Durable Power of Attorney for Finances
Incapacity poses almost as much of a threat to your financial well-being as death does. Fortunately, there are tools that can help you cope with this threat.
A durable power of attorney is a legal agreement that avoids the need for a conservatorship and enables you to designate who will make your legal and financial decisions if you become incapacitated. Unlike the standard power of attorney, durable powers remain valid if you become incapacitated.
Health Care Proxies and Living Wills
Similar to the durable power of attorney, a health care proxy is a document in which you designate someone to make your health care decisions for you if you are incapacitated. The person you designate can generally make decisions regarding medical facilities, medical treatments, surgery, and a variety of other health care issues. Much like the durable power of attorney, the health care proxy involves some important decisions. Take the utmost care when choosing who will make them.
A related document, the living will, also known as a directive to physicians or a health care directive, spells out the kinds of life-sustaining treatment you will permit in the event of your incapacity. The directive creates an agreement between you and the attending physician. The decision for or against life support is one that only you can make. That makes the living will a valuable estate planning tool. And you may use a living will in conjunction with a durable health care power of attorney. Bear in mind that laws governing the recognition and treatment of living wills may vary from state to state.
Estate Planning Tip
Keep all your important financial and legal information in a central file for your executor. Be sure to include:
• letters of last instructions• medical records• bank/brokerage statements• income and gift tax returns• insurance policies• titles and deeds• will and trust documents
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
Privacy Policy
www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com/
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
Planning is a part of nearly everything we do in life. It’s even a part of dying. How will you preserve your assets from estate taxes and probate fees? How will you ensure distribution according to your wishes? Who will make financial and medical decisions in the event of your incapacity?
By taking steps in advance, you have a greater say in how these questions are answered. And isn’t that how it should be?
Wills and Trusts
Wills and trusts are two of the most popular estate planning tools. Both allow you to spell out how you would like your property to be distributed, but they also go far beyond that.
Just about everyone needs a will. Besides enabling you to determine the distribution of your property, a will gives you the opportunity to nominate your executor and guardians for your minor children. If you fail to make such designations through your will, the decisions will probably be left to the courts. Bear in mind that property distributed through your will is subject to probate, which can be a time-consuming and costly process.
Trusts differ from wills in that they are actual legal entities. Like a will, trusts spell out how you want your property distributed. Trusts let you customize the distribution of your estate with the added advantages of property management and probate avoidance.
Wills and trusts are not mutually exclusive. While not everyone with a will needs a trust, all those with trusts should have a will as well.
Durable Power of Attorney for Finances
Incapacity poses almost as much of a threat to your financial well-being as death does. Fortunately, there are tools that can help you cope with this threat.
A durable power of attorney is a legal agreement that avoids the need for a conservatorship and enables you to designate who will make your legal and financial decisions if you become incapacitated. Unlike the standard power of attorney, durable powers remain valid if you become incapacitated.
Health Care Proxies and Living Wills
Similar to the durable power of attorney, a health care proxy is a document in which you designate someone to make your health care decisions for you if you are incapacitated. The person you designate can generally make decisions regarding medical facilities, medical treatments, surgery, and a variety of other health care issues. Much like the durable power of attorney, the health care proxy involves some important decisions. Take the utmost care when choosing who will make them.
A related document, the living will, also known as a directive to physicians or a health care directive, spells out the kinds of life-sustaining treatment you will permit in the event of your incapacity. The directive creates an agreement between you and the attending physician. The decision for or against life support is one that only you can make. That makes the living will a valuable estate planning tool. And you may use a living will in conjunction with a durable health care power of attorney. Bear in mind that laws governing the recognition and treatment of living wills may vary from state to state.
Estate Planning Tip
Keep all your important financial and legal information in a central file for your executor. Be sure to include:
• letters of last instructions• medical records• bank/brokerage statements• income and gift tax returns• insurance policies• titles and deeds• will and trust documents
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
Privacy Policy
www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com/
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
For Individuals: Insurance
We offer personalized strategies and products to help you increase and preserve your wealth.
It's not just about life and disability income insurance. Financial strategies and estate planning are also important - for both you and your heirs. Discover how life and disability income insurance strategies can help you achieve and protect your goals with our educational series - From Here to SecuritySM.
If you are an employee
www.joeswanson.com For Individuals: Insurance
We offer personalized strategies and products to help you increase and preserve your wealth.
It's not just about life and disability income insurance. Financial strategies and estate planning are also important - for both you and your heirs. Discover how life and disability income insurance strategies can help you achieve and protect your goals with our educational series - From Here to SecuritySM.
If you are an employee
http://www.joeswanson.com/location.cfm to contact an advisor in Minnesota
www.wiseradvisor.com
952 277 4259
We offer personalized strategies and products to help you increase and preserve your wealth.
It's not just about life and disability income insurance. Financial strategies and estate planning are also important - for both you and your heirs. Discover how life and disability income insurance strategies can help you achieve and protect your goals with our educational series - From Here to SecuritySM.
If you are an employee
www.joeswanson.com For Individuals: Insurance
We offer personalized strategies and products to help you increase and preserve your wealth.
It's not just about life and disability income insurance. Financial strategies and estate planning are also important - for both you and your heirs. Discover how life and disability income insurance strategies can help you achieve and protect your goals with our educational series - From Here to SecuritySM.
If you are an employee
http://www.joeswanson.com/location.cfm to contact an advisor in Minnesota
www.wiseradvisor.com
952 277 4259
For Businesses: Business Continuation Planning
http://www.joeswanson.com/location.cfm
For Businesses: Business Continuation Planning
Plan today for the future of your business and family
Imagine what would happen if your business suddenly had to continue without you, a partner or key employee. Death, disability or retirement of a key executive can create a succession crisis. If you died, would your family be able to successfully operate the business? If your successors had the opportunity to buy the business, where would they get the money? If a partner were no longer there, could you afford to buy his or her share?
With a carefully constructed business succession plan, you can create a rock solid foundation for the future of your business — and the people who depend on it. Working together with your accountant, attorney and other advisors, we can help you pull together the necessary elements of a successful succession plan.
http://www.joeswanson.com/location.cfm at www.joeswanson.com Financial Advisor 401k rfp
For Businesses: Business Continuation Planning
Plan today for the future of your business and family
Imagine what would happen if your business suddenly had to continue without you, a partner or key employee. Death, disability or retirement of a key executive can create a succession crisis. If you died, would your family be able to successfully operate the business? If your successors had the opportunity to buy the business, where would they get the money? If a partner were no longer there, could you afford to buy his or her share?
With a carefully constructed business succession plan, you can create a rock solid foundation for the future of your business — and the people who depend on it. Working together with your accountant, attorney and other advisors, we can help you pull together the necessary elements of a successful succession plan.
http://www.joeswanson.com/location.cfm at www.joeswanson.com Financial Advisor 401k rfp
http://www.joeswanson.com/location.cfm
http://www.joeswanson.com/location.cfm
Contact Form for fee based financial advisor in Minnesota
www.joeswanson.com
Contact Form for fee based financial advisor in Minnesota
www.joeswanson.com
Group Life Insurance
Life Insurance
Three in 10 employed individuals in the U.S. rely solely on group life insurance for their coverage needs.1
Life insurance forms the cornerstone of an employee benefit package as most employees look to their employer to provide this coverage.
Why should you consider purchasing life insurance from Principal Life?
We offer a full portfolio of flexible options for you to offer the best solution for your employee needs, including easy access of benefits through various means:
Accelerated benefits to help terminally ill employees
A choice of lump sum or interest draft account payment options to withdraw a portion or all of their funds at any time
We provide life insurance options to fit your specific needs
Our employer-paid basic life insurance helps cover the unexpected, sudden costs associated with a death.
We also offer voluntary employee-paid coverage.
Don’t miss these added features and services:2
Professional and complimentary Financial Services Hotline for beneficiaries
Grief Support Services to help survivors deal with the loss of a loved one
For more information:
Contact your local representative of Principal Life
Log in now to access your specific accounts
1LIMRA International, Group Life Insurance: Factors Affecting Industry Prospects, 2006
2These value added features and services are not part of the insurance policy and are subject to change or termination at any time.
ec49
www.joeswanson.com
Three in 10 employed individuals in the U.S. rely solely on group life insurance for their coverage needs.1
Life insurance forms the cornerstone of an employee benefit package as most employees look to their employer to provide this coverage.
Why should you consider purchasing life insurance from Principal Life?
We offer a full portfolio of flexible options for you to offer the best solution for your employee needs, including easy access of benefits through various means:
Accelerated benefits to help terminally ill employees
A choice of lump sum or interest draft account payment options to withdraw a portion or all of their funds at any time
We provide life insurance options to fit your specific needs
Our employer-paid basic life insurance helps cover the unexpected, sudden costs associated with a death.
We also offer voluntary employee-paid coverage.
Don’t miss these added features and services:2
Professional and complimentary Financial Services Hotline for beneficiaries
Grief Support Services to help survivors deal with the loss of a loved one
For more information:
Contact your local representative of Principal Life
Log in now to access your specific accounts
1LIMRA International, Group Life Insurance: Factors Affecting Industry Prospects, 2006
2These value added features and services are not part of the insurance policy and are subject to change or termination at any time.
ec49
www.joeswanson.com
Elite clients
Helping Business Owners, Individuals and Executives with Fee-Based Planning Services
Elite Program
Our Elite clients receive the objectivity and confidence that comes with a financial planning arrangement
Our financial plans use a holistic approach to analyze your current financial situation and evaluate how it aligns with you various goals. We provide you with concise written information to provide direction towards your future. At your request, we can review your plan periodically and monitor your progress to help keep you on track.
You will receive one-on-one guidance on everything from asset allocation to estate planning to achieving your financial independence.
What is the Financial Planning Process?
Financial planning involves a series of steps to help you accomplish your financial goals. As Princor Investment Adviser Representatives, we will gather information about your concerns and current financial situation in order to learn your specific goals and objectives. We then provide you with recommendations and alternative strategies for achieving those goals.
Once you’ve decided what recommendations to follow, we can help you implement those decisions if you so choose. The last step in the financial planning process is to periodically review and, if necessary, revise the plan.
Isn’t Financial Planning Just for the Wealthy?
Financial planning isn’t about “getting wealthy.” It’s about helping you achieve your specific life goals, whatever your level of affluence. Anyone who wants to take control of their financial life, make good financial decisions and achieve financial independence can benefit from a financial plan. Years ago, the financial life of the average family was relatively uncomplicated. People worked for the came company most of their lives, lived a few years in retirement on Social Security and their pension and passed their estate on to their children. However, increased longevity, changing demographics and a more complex, dynamic financial world have changed all that.
We have found that most everyone, regardless of financial status, appreciates financial planning help in areas such as:
Asset allocation
Retirement planning
Survivor and disability income needs
College education
Exit planning for business owners
Estate planning
Personal Service:
Your relationship is with us. As your primary contact, we are the one person to call for answers, ideas and guidance with respect to your financial plan. The full support of our team is available as well. We can also work with your other professional advisors to effectively help you handle your ever-changing needs.
The relationship between you and us is intended to be long-term. You may even find your heirs will benefit from this relationship, helping them carry on your legacy.
Access to Premier National Money Managers:
We have arrangements to offer the service of premier professional money managers for your investing needs. We have a number of asset allocation programs and separately managed accounts that allow you to invest without commissions. Your fees in these programs are based on the amount of assets under management in your account (based on a percentage of the asset value).
Compensation:
As with all true financial planning relationships, our compensation is based upon an hourly or flat fee to compensate us for the time, energy and expertise we provide.
Apart from financial planning services, we may also be compensated from your introductions to others you believe may benefit from this type of relationship.
Your Relationship with Us:
Elite clients work with an investment advisor representative of Princor Financial Services Corporation to receive financial planning services. Even though your financial plan contains suggestions for solutions to meet your financial goals, you are not required to transact business or purchase products with Princor to implement these suggestions. There is no obligation, either before of after receiving your plan.
Should you decide to purchase financial products, you will pay any applicable fees or commissions relating to the purchased products. Except in cases where Princor acts as investment adviser, Princor acts as a broker dealer in offering financial products to you.
MM3049-1
www.joeswanson.com joe swanson financial advisor minnesota
Elite Program
Our Elite clients receive the objectivity and confidence that comes with a financial planning arrangement
Our financial plans use a holistic approach to analyze your current financial situation and evaluate how it aligns with you various goals. We provide you with concise written information to provide direction towards your future. At your request, we can review your plan periodically and monitor your progress to help keep you on track.
You will receive one-on-one guidance on everything from asset allocation to estate planning to achieving your financial independence.
What is the Financial Planning Process?
Financial planning involves a series of steps to help you accomplish your financial goals. As Princor Investment Adviser Representatives, we will gather information about your concerns and current financial situation in order to learn your specific goals and objectives. We then provide you with recommendations and alternative strategies for achieving those goals.
Once you’ve decided what recommendations to follow, we can help you implement those decisions if you so choose. The last step in the financial planning process is to periodically review and, if necessary, revise the plan.
Isn’t Financial Planning Just for the Wealthy?
Financial planning isn’t about “getting wealthy.” It’s about helping you achieve your specific life goals, whatever your level of affluence. Anyone who wants to take control of their financial life, make good financial decisions and achieve financial independence can benefit from a financial plan. Years ago, the financial life of the average family was relatively uncomplicated. People worked for the came company most of their lives, lived a few years in retirement on Social Security and their pension and passed their estate on to their children. However, increased longevity, changing demographics and a more complex, dynamic financial world have changed all that.
We have found that most everyone, regardless of financial status, appreciates financial planning help in areas such as:
Asset allocation
Retirement planning
Survivor and disability income needs
College education
Exit planning for business owners
Estate planning
Personal Service:
Your relationship is with us. As your primary contact, we are the one person to call for answers, ideas and guidance with respect to your financial plan. The full support of our team is available as well. We can also work with your other professional advisors to effectively help you handle your ever-changing needs.
The relationship between you and us is intended to be long-term. You may even find your heirs will benefit from this relationship, helping them carry on your legacy.
Access to Premier National Money Managers:
We have arrangements to offer the service of premier professional money managers for your investing needs. We have a number of asset allocation programs and separately managed accounts that allow you to invest without commissions. Your fees in these programs are based on the amount of assets under management in your account (based on a percentage of the asset value).
Compensation:
As with all true financial planning relationships, our compensation is based upon an hourly or flat fee to compensate us for the time, energy and expertise we provide.
Apart from financial planning services, we may also be compensated from your introductions to others you believe may benefit from this type of relationship.
Your Relationship with Us:
Elite clients work with an investment advisor representative of Princor Financial Services Corporation to receive financial planning services. Even though your financial plan contains suggestions for solutions to meet your financial goals, you are not required to transact business or purchase products with Princor to implement these suggestions. There is no obligation, either before of after receiving your plan.
Should you decide to purchase financial products, you will pay any applicable fees or commissions relating to the purchased products. Except in cases where Princor acts as investment adviser, Princor acts as a broker dealer in offering financial products to you.
MM3049-1
www.joeswanson.com joe swanson financial advisor minnesota
Exit Planning at www.joeswanson.com
Exit Planning
What is Exit Planning?
Eventually every owner leaves his or her business - exit planning can help you leave it on your terms. Exit planning is a deliberate, customized process that helps business owners set exit goals and decide how best to achieve them. An exit plan can help maximize your financial return when you transfer your business while minimizing your tax liability.
Even if retirement is a long way off, understanding the process now can help you run your business in a way that will make it easier to leave when you are ready. If you die or become disabled before retirement, exit planning can help ensure that your business survives and that your family receives its full value.
Your financial representative can help you design a successful exit strategy using a unique seven-step, exit planning process. This process was developed by John Brown, a practicing attorney with over 20 years' experience working with business owners and the president of Business Enterprise Institute, Inc., a nationally known exit planning firm. This process has helped Brown's clients achieve their ultimate exit planning goal - the successful sale or transfer of their business.
The Principal® and Business Enterprise Institute, Inc. have entered an alliance to bring you comprehensive exit planning services.
Exit Planning
What is Exit Planning?
Eventually every owner leaves his or her business - exit planning can help you leave it on your terms. Exit planning is a deliberate, customized process that helps business owners set exit goals and decide how best to achieve them. An exit plan can help maximize your financial return when you transfer your business while minimizing your tax liability.
Even if retirement is a long way off, understanding the process now can help you run your business in a way that will make it easier to leave when you are ready. If you die or become disabled before retirement, exit planning can help ensure that your business survives and that your family receives its full value.
Your financial representative can help you design a successful exit strategy using a unique seven-step, exit planning process. This process was developed by John Brown, a practicing attorney with over 20 years' experience working with business owners and the president of Business Enterprise Institute, Inc., a nationally known exit planning firm. This process has helped Brown's clients achieve their ultimate exit planning goal - the successful sale or transfer of their business.
The Principal® and Business Enterprise Institute, Inc. have entered an alliance to bring you comprehensive exit planning services.
Exit Planning at www.joeswanson.com Joe Swanson, Minnesota 952 277 4259 401k RFP
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