The Thing about Loopholes

The Thing about Loopholes

Lately we’ve been hearing a lot about “loopholes” from both sides of the political debate. In my particular instance, it’s not just at the national level but at my state and even local election levels, as well. 

The gist, as I am sure you already know, is that if we vote for him or her, they’d enforce a complete crackdown on those who are using so-called loopholes, which would allegedly result in more revenue flowing into the system so that good things would obviously happen for all of us. That sounds fine. However, I say, “Give us (or more appropriately, me) a big break!” 

If these loopholes are such a terrible thing, why do they exist in the first place? Who made the legislation and rules that created them?

Granted, one could argue that a given loophole might not be the intended goal of our lawmakers. But is anything preventing these politicians from closing them? There’s a Ghanaian saying to the effect that, If you place your finger in my mouth and hit me on the head, don’t wonder or complain when I bite your finger. What else should you expect?

The point I’m trying to drive home here is: Don’t give me a legitimate choice and then accuse me of using it. Doesn’t that sound rather ridiculous? It sure does to me. I don’t know about you, but I’m always looking for ways that will legally (the keyword here is legally) maximize my gains, and I don’t feel even slightly guilty about following them to the full extent of the law.

Okay, this is going to sound obvious, but I’ll say it anyway. Instead of telling us about them (which amounts to nothing more than complaining), go ahead and close them. It shouldn’t be that difficult, should it?

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If you’d like to learn more wisdom and common-sense information that will help you ensure that you don't lose a penny in the next market downturn, please contact us for straight, clear answers. What you don’t know matters as much as what you know! Call us at 877.656.9111 or visit us on the web to schedule your complimentary consultation TODAY.

Why Do So FEW Advisors Share a Proven Retirement Strategy?

Why do so few advisors share a proven retirement strategy?

A fairly large number of financial advisors seem to operate with the general hypothesis that when saving for your retirement, you should earlier on (during your working years) directly invest heavily in the stock market, using individual stocks or mutual funds of some sort. Then once you retire, you should switch over to, as they put it, less risky and much safer investments. Many recommend some form of annuity.


While that may sound pretty good on the surface, I believe it’s a major mistake. Here’s a simple reason for my stance. What if the funds you’ve invested via the stock market take a huge plunge right before you’re about to retire? Or what if the market plummets a few years before your retirement and doesn’t bounce back soon enough?

Is what I’m saying here ringing any bells about incidents of recent memory?

The fact of the matter is that the foundation behind this whole idea assumes that during the years of accumulation, the market will do just fine – and hopes that will actually be the case for you. However, my friend, hope has never been – and never will be – a viable strategy for something as vital as your retirement. In my personal practice and through my public speaking, I meet folks almost daily whose retirement finances have been compromised in a big way, due to this approach.

Now let me tell you what I recommend you do. First, it is extremely important to understand and never forget that your retirement is CERTAIN to arrive. As a result, your money must also be certain. One way to ensure that is by utilizing a proven investing approach whereby you link (as opposed to directly investing in) the growth of your assets to a stock market index, up to a certain a cap. This allows you to lock in all of your annual gains so that whenever the market/index drops, you won’t lose anything. If you were to ask me, I’d say this makes a lot more sense, because no one on this planet knows when and by how much the stock market will dip when it inevitably does.

Interesting question here is how come more so-called financial advisors are not exposing their clients to this powerful investing approach? Your guess is as good as mine, but at least now you have a different perspective.
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If you’d like to learn more wisdom and common-sense information that will help you ensure that you don't lose a penny in the next market downturn, please contact us for straight, clear answers. What you don’t know matters as much as what you know! Call us at 877.656.9111 or visit us on the web to schedule your complimentary consultation TODAY.

Calling Out Money Magazine's Investment Advice

Calling Out Money Magazine's Investment Advice

Lately I’ve been making frequent visits to my daughter Amy’s orthodontist’s office. I’m pretty sure most folks understand why – she’s thirteen, so of course we’re doing the braces/retainer thing. Personally, her teeth look fine to me, but the professionals say they’re not done yet. So obviously, I’ve got to do what I’ve got to do and go with the flow.

As many parents might do while waiting for their child’s appointment to conclude, I often thumb through one magazine or other from their huge collection, the topics ranging from home & garden to fashion to travel. Most recently, I picked up a copy of Money Magazine. Interesting, isn’t it? This particular issue was from July 2012, the Annual Readers Choice Edition.

Beyond the fact that I would naturally be inclined to pick up that magazine, the back cover said 101 Ways to Build Wealth. Hey, I am always interested in learning and researching new ideas, so I quickly jumped to page 54 and started reading. To my surprise, the very first – as in, the most important – point the article made was: “In achieving wealth, how you invest isn’t nearly as important as how much you save…”

That’s a word-for-word quote from page 54 of the July 2012 issue of Money Magazine. Please read it again – slowly this time. Now, everyone obviously has their own opinion, and I’m not even going to attempt to get you to subscribe to mine, but here’s what I’ve always thought about that statement: Seriously? You’ve got to be kidding me, right?

“How you invest” – that is, the strategy/investments into which you are pouring your hard-earned dollars – isn’t as important as “how much” you save? So when you’re pouring your money into a big black hole, so to speak, you should just focus on saving more? With all due respect to the esteemed magazine, they got this one totally backward. I know for a fact that it’s possible for someone who saved a lot less but used a better strategy (the “how” in this case) to end up with much more money in the end than the one who saved a lot but used the wrong “how.”

I could go on and on, but I’m pretty certain you get the point I’m trying to make here. I believe that how you’re saving – the strategy/investments you’re pursuing – is far more important than how much you save. You can put a whole lot of water into a leaking container, but it’ll be only a matter of time before everything drains out. Meanwhile, if you put a lot less into a leak-proof container, you’d keep everything wouldn’t you?

In fact, I have written and taught about this very point in the past. Here’s one article I wrote for the Maryland Women’s Journal about it.

I even discussed it in my book, 5 Mistakes Your Financial Advisor is Making, beginning on page 50. If you haven’t read the book, I would strongly encourage you to get a copy. You can purchase the e-book for just $2.99, and it’s readable on pretty much all the e-readers, from Apple to Kindle, Nook, Kobo, Sony Reader, and Palm. You can also get it directly from the iBook or Barnes and Noble e-stores. Or if you’re like me and prefer the hard copy, you can buy it here for just $10.36.

I’d vote for how you invest being far more important than how much. What about you?
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If you’d like to learn more wisdom and common-sense information that will help you have a more strategic "how" so that you can grow YOUR "how much," please contact us for straight, clear answers. What you don’t know matters as much as what you know! Call us at 877.656.9111 or visit us on the web to schedule your complimentary consultation TODAY.

October is Breast Cancer Awareness Month

My associates and I here at Laser Financial Group do our best to help you protect your financial health, but we know that your financial health won't matter much if you don't have your physical health. To that end, we'd like to remind you that October is Breast Cancer Awareness Month.

Throughout the year, but particularly during October, a collaboration of national public service organizations, professional medical associations, and government agencies works together to promote breast cancer awareness, share information on the disease, and provide greater access to services. For more than 25 years, these groups have been promoting breast cancer awareness and helping further the national conversation about breast cancer. Many great strides have been made in breast cancer awareness and treatment, but there's still a long way to go.

Click this link to find a screening center in your community that is participating in the National Breast and Cervical Cancer Early Detection Program.

For further information, including how to create an early detection plan, please visit the National Breast Cancer Foundation.

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If you’d like to learn more wisdom and common-sense information that will help preserve your FINANCIAL health, please contact us for straight, clear answers. What you don’t know matters as much as what you know! Call us at 877.656.9111 or visit us on the web to schedule your complimentary consultation TODAY.

Software Makes It Easy to Take an Inventory of Your Personal Possessions

Software makes it easy to take an inventory of your personal possessions

Do you have an accurate, up-to-date inventory of all of your personal possessions? That’s a pretty straightforward question, isn’t it? Yes, or…?

Okay I realize this may not be the most flamboyant assumption, but bear with me for just a second and explore the unfortunate scenario that your house were burglarized or destroyed. Would you be able to accurately generate an accounting of all your personal possessions? I think you get the point I’m trying to make.

Why this discussion today? Of course, we are all busy folks. But failure to have an accurate accounting of your personal possessions could have serious consequences (from delays, to being paid less than the items’ worth, to outright denial of claim) in the event that you had to file an insurance claim or report property losses to the IRS. So I’d say a properly substantiated accounting will breed less drama and greater peace of mind. Besides, without knowing the proper value of what you own, you risk being underinsured.

You may want to check out the Insurance Information Institute’s online homeinventory software.  I personally like this software because it literally walks you through your house, room by room (with prompts), helping you document everything you own. Of course, you have to name the rooms. You can upload your receipts, any appraisal reports, or take actual photos of the items and attach them to the inventory. Obviously, since it’s online, you don’t run the risk of having this information lost, destroyed, or stolen. You can also create the inventory with an app on your smartphone, if you’d like. Great thing about it is that it’s totally free.

I must mention that I have no affiliation or agreement with this organization and do not stand to benefit in any way, should you decide to use this application. It’s just that in my professional practice over the years, I have seen enough unintended consequences – some of them pretty devastating when folks were unprepared.

As always, I’m simply looking out for your interests.
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If you’d like to learn more wisdom and common-sense information that will help make life better for you and for those you love, please contact us for the straight, clear answers. What you don’t know matters as much as what you know! Call us at 877.656.9111 or visit us on the Web at LaserFG.com to schedule your complimentary consultation TODAY.