Economy Maybe Not So Strong After All

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Fotila Images

Jim Lorenzen, CFP®, AIF®

The new jobs report shows 178,000 jobs were created last month – and much of the media has reported that number; however, there’s a number missing:  All but 9,000 were part-time.

While unemployment has dropped from 5% to 4.6% over the past year, the participation rate has remained constant and those eligible workers not in the labor force has actually gone up, as you can see.

All of this, of course, seems to be forming a pattern occurring in an environment of increasing national debt.   If you want to give the politicians your own feedback on this, there are resources you can use.

If you’re one of those trying to navigate retirement planning in the midst of all the media `white noise’ and financial uncertainty, it might help to have a roadmap.  Maybe I can help.  You can begin here.

 

Jim

 


Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® serving private clients since 1991.   Jim is Founding Principal of The Independent Financial Group, a  registered investment advisor with clients located across the U.S.. He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

Planning to Roll Your 401(k) to Your Own IRA?

Jim Lorenzen, CFP®, AIF®

Getting ready to retire?  Planning to roll your 401(k) into your own IRA?  It will pay to do your homework first.

To help you get started, you might find our 401(k) Rollover Review helpful.  It contains information on changing jobs, retiring, methods, rollover taxation issues, and more.

i303a_ira-rollover-review_overview-report_vsa_001Click Here for your 401(k) Rollover Review!

 

Happy Thanksgiving: Should you be thankful for the electoral college?

Time_Is_Money
Jim Lorenzen, CFP®, AIF®

You’re probably wondering, “What does the electoral college debate have to do with Thanksgiving?  Nothing.

It maybe has more to do with being thankful for our founding fathers’ wisdom.  And, I’m not talking about this past election, but the reasons why the electoral college was created for all elections we’ve had and will have in the future.  Those who say it’s `outdated’ probably don’t understand why it was created – and why eliminating it will likely never happen.

As an amateur historian – an un-ranked/low-rank/no-rank amateur, at that – I’ve found that learning about these things can be quite interesting, which shows you how much excitement I have in my life.

I won’t get into the weeds on this, lest your eyes begin to glaze over; however, I will give you the names of a couple books, should you find you’d like to learn more.

Even as far back as the Constitution Convention in 1787, race and class warfare was alive and well in America; indeed, the Constitution itself can be, and has been, viewed by some as a racist document, but that’s another story.  Slavery was the elephant in the room no one wanted to talk about since, at that time, the object was to keep the southern states on-board as the northern states were striving for unity in the separation from English rule.

The divisions were complicated:  Northern mercantile vs southern agriculture economies – large states vs. small states, etc.  So, regional and cultural differences not only divided many, but also made them in many ways interdependent.  As was also true then, the population centers, such as they were in those days, tended to be clustered around Boston, Philadelphia, and New York.  The rest of the population was spread-out throughout the colonies in rural areas, including the agricultural south.

In the convention, small states didn’t want to be dictated to by the large; and were concerned that regional influences could dominate national interest, so a system of ‘electors’ was created to ensure that smaller states could still have a voice in the democracy.
The system was based on state representation.   Each state would receive one elector for each senator (2 from each state), and one elector for each member of the House.  Each house member would come from a congressional district, the number of districts being determined by the state’s population.   No state would have less than 3 electors (Rhode Island’s 1 district + 2 senators), but only population growth would limit the larger states, albeit there was a moderation factor:  the limit of 1 elector for each of the two senators.

As I said, this is a short version.

6a00d83451c82369e201b8d0769f84970c-600wiStill, even today, no one regional area can dominate national election results; and, this latest election is just the most recent example (there have been others throughout our history) that demonstrates exactly what the founders had in mind.

Below is  a county-by-county map of the recent Presidential election results.  While it doesn’t reflect the degree of victory for each county (landslide vs. squeeker), it does provide a broad picture of the larger regional support patterns.

As you can see, Democrats did well in densely populated regions like the California coast, the Miami-Dade area in Florida, and New England.  Hence, Mrs. Clinton won more popular votes than did Mr. Trump  because of the high concentration population centers placed in only a few regions – the exact issue the founders in the Philadelphia State House that summer were trying to moderate.

If there had been no electoral college to moderate regional influence in this past election, the people in Ohio, Indiana, Michigan, Wisconsin, Oklahoma, Iowa, Kansas, Missouri, Nebraska, and many other states would have had – and maybe would never have – a voice in the electoral process.

Indeed, the electoral college was the reason both presidential candidates spent time in Nevada.  Without the electoral system, they would have ignored the state completely.  Bottom line:  Every region should have an impact on a national election that decides a national leadership.  A few areas should not decide the government for the whole simply because they have high population clusters.
Source_ The Washington Post

While James Wilson of Pennsylvania proposed the elector system, it was James Madison, known as the father of the Constitution, who noted that a system mediated through electors, rather than direct voting, would balance regional interests better as population grew and became more centralized.  Indeed, James Mason argued that the people could not be trusted!   With the electoral college the smaller states, particularly those in the South who wanted to protect slavery, were glad to see that New York and Philadelphia wouldn’t dominate national politics to the exclusion of the interests of the minority.  They didn’t talk about slavery much though.  As I said, it was the elephant in the room no one really wanted to address – the result being a violent split that took another seventy-three years to ignite.

The founding fathers argued all summer in 1787 and the result was a Constitution that today, 229 years later, is the oldest, still-functioning Constitution in the world!  Not France, not Greece, not England, not Spain – no country in the world has a constitution in effect that’s older than ours.  Amazing, huh?

A few possible reasons:

  • It’s intentional ambiguity, which allows for interpretation as times change, although many strict constructionists may not consider that a good thing.  However, when Secretary of the Treasury Alexander Hamilton wanted to create the first national bank in the Washington Administration, it was Thomas Jefferson (later the first Democrat) who opposed it because that power wasn’t granted to the president in the Constitution.
  • The amendment process, which allows for changes in the Constitution, even with the high hurdles, that can originate from the people through their elected representatives.
  • The willingness of our elected officials to recognize the Constitution as the supreme law.  Many world leaders have chosen to ignore theirs in the past.  Here, we’ve seen one President resign and, even in this most recent rancorous election, we’re seeing a smooth transition – maybe except in the media (they have to fill a lot of time) and in the streets, where many who demonstrate know little about the process they hate so much.

If you’re interested in learning more about the Constitution, here are a couple of good books you might enjoy:

The Summer of 1787, David O. Stewart

America’s Constitution, Akhil Reed Amar

If you’re an American history lover like me, you’ll find both of these enjoyable holiday reading.
Maybe I should have saved this post for the 4th of July!

Enjoy!

Jim

 

Jim Lorenzen, CFP®, AIF®
The Independent Financial Group
A Registered Investment Advisor
805-265-5416
If you’d like to Get Started with IFG, you can begin here!
 

Jim Lorenzen, CFP, AIF

Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® serving private clients since 1991.   Jim is Founding Principal of The Independent Financial Group.  He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

Will Your Retirement Money last? Maybe – with the right ‘Late Life Income’ strategy.

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iStock Images

Jim Lorenzen, CFP®, AIF®

This past Monday, I retweeted a Fox Business post, Why Your Retirement Savings May Be a Pipedream.

A number of my clients, deciding to help ensure their late-life income needs will be met, have  in the past elected to execute a “late life income” strategy – however, they wanted one that would not lock them in to the low rates and liquidity issues that come with annuities.

I created a hypothetical – translate fictitiousLate Life Income “case study” of what such a strategy might look like for the right candidate couple (this may not be right for everyone).  You can learn more by getting it here.

Enjoy,

Jim

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Resized CFP_Logo_GoldJim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and an Accredited Investment Fiduciary® serving private clients providing retirement planning and wealth management services since 1991. Jim is Founding Principal of The Independent Financial Group, a registered investment advisor with clients located across the U.S.. He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.6a017c332c5ecb970b01a51174cbb0970c-120wi

Business Valuation Methods – Which One is Right for You?

business movingJim Lorenzen, CFP®, AIF®

Business valuation is something that most business owners don’t think about until they decide it’s time to sell.

Big mistake.

Business valuation can be a powerful planning tool!

  • How willl this capital expenditure impact the value of my business?
  • If my partner(s) pass away, how can I buy-out the partner(s) spouse(s) interest – they may know little about the business!
  • If I want to leave the business to one of my children, how will I value that child’s inheritance to be fair to other children who may not want the business – and how will everything get funded?

You get the idea.  Your imagination can come up with a lot of reasons for knowing how much a business is worth and how future decisions/events may impact it’s value.

Here’s another one:  You’re key employee dies, or just leaves the business.  When key employees are no longer on the scene, it’s an event that can impact supplier relationships (and terms), as well as banking relationships (and terms), not to mentions client or customer relationships.

But, valuations are expensive.

Are they?   Appraisals for sales or mergers and acquisitions can be expensive; but, informal valuations for planning purposes can be very valuable, widely accepted, and far less expensive.

A blog post can’t cover all they types of business valuations; but, it can help in determining which of the move most-accepted methods may be right for you!

Maybe this little chart will help:

 

i601b_businss-valuation-methods_slide

If you’d like to see a sample business valuation report, just click on the button below:
Click Here to get your Sample Business Valuation Report
Hope this helps!

Jim

 

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Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and an Accredited Investment Fiduciary® serving private clients’ wealth management needs since 1991.   Jim is Founding Principal of The Independent Financial Group, a Registered Investment Advisor providing wealth management, retirement planning and investment advisory services.  He is also licensed for insurance as an independent agent under California license 0C00742.  Jim’s background includes founding, building, and selling five successful businesses and international consulting.  He has been the headline speaker at more than 500 national and international association and corporate conventions for clients such as Foster Grant, Hobie Cat, CapCities/ABC, H.R. Textron, Hearst Corporation, The National Management Association, the National Newspaper Association, and Cox Communications, as well as scores of state, regional, and national conventions.  Jim has also been heard on American Airlines’ Sky Radio on more than 19,000 flights and has been published in the Journal of Compensation and Benefits.

The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriately licensed professional.  All images used in this communication are in  public domain unless otherwise noted.

 

Looking for an Easy Bonus Plan for Your Key Employees?

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iStock Images

Jim Lorenzen, CFP®, AIF®

Executive Bonus plans are a little different from Non-Qualified Deferred Compensation Plans (NQDC), which we talked about in another short paper.   But, these types of plans are very popular!
The employee (or a third party, such as an irrevocable trust designated by the employee) purchases and owns the policy and even names the  beneficiary.

The employee-policy owner has all the rights in the policy.  The corporation never has any right to any part of the policy cash values, dividends, or death benefit.  In fact, the corporation never has any incident of ownership in the policy.

Basically, it involves the purchase of a life insurance policy on the life of one or more employees, chosen by the employer.  The employer pays the premium on the policy but charges the employee with a bonus with an amount equal to the payment.  Under other arrangements, the employee can pay the premium and the employer adds the amount of the premium to the employees paycheck.

iStock Images

iStock Images

Why does a corporation do this?  

  • Unlike the NQDC, the corporation, under IRS Section 162, can take an immediate tax deduction for the amount of the bonus.
  • It provides valuable life insurance for key employees at little or no-out-of-pocket costs. The corporation has a great deal of freedom in deciding just who will be covered and has considerable flexibility, depending on the product type, regarding how much premium to pay.  If cost is an issue, a permanent universal life product can provide essentially a term insurance equivalent.
  • It’s completely confidential. No one other than covered employees need know about the plan
  • It can be terminated by the employer at any time for any reason without justification to the IRS or the Department of Labor. There’s no termination penalty, as is the case with a qualified plan.
  • It may be the most inexpensive and easy plan to implement and maintain.
  • It’s appreciated because these plans provide real benefits for the chosen employees – and the benefits cannot be forfeited. Unlike a NQDC plan, assets in a Section 162 plan belong to the employee and cannot be reached by the employer’s creditors.
  • The policy is portable. Termination of employment has no impact on policy values.
  • Present or future management may discontinue premium payments, but the employee will not lose anything if the business is subsequently sold or there is a corporate takeover.
  • Premiums payments may self-complete if the selected employee becomes sick or suffers an accident, if there is a disability waiver of premium rider. Cash values will continue to grow.
  • Cash values, which accumulate income tax deferred, can be turned into tax-free supplemental retirement income, cash for an education, or any other need, in the form of policy loans.\
Fotilla Images

Fotilla Images

Disadvantages:

  • Once the premium is paid, the employer generally has no control over either the employee or the policy. This can be somewhat controlled using a “Controlled Executive Bonus arrangement”, however, the employer bonus is generally enough of an incentive for the employee.
  • Cash values are controlled by the employee; but then, it is a bonus plan and the employer did receive a tax-deduction for it.
  • None of the cost of the plan will ever be recovered by the employer, compared to a split-dollar plan, which allows recovery of employer costs. However, bonus payments are seldom recoverable anyway; and, as stated earlier, this is one of the easiest and least expensive plans to set-up and maintain.

Tax implications:

  • Bonus payments made, whether to the employee to pay the insurer or directly to the insurance company, are deductible by the employer.
  • The bonus (premium) is reportable as income by the employee
  • It’s likely that the payments will be considered a non-cash fringe benefit for withholding purposes, meaning that premium amounts should be added to regular cash wages and subject to appropriate withholding.
  • Since the employee has already paid tax on the full cost of the policy, the employee’s cost basis is equal to the sum of the all premiums paid by the employer. This basis can be used to offset income tax as amounts are withdrawn when the policy is surrendered.

If you’d like to see how it works, the click the button below and I’ll send you our concept sheet that shows how an Executive Bonus Plan looks “in action”.

Get Your Executive Bonus Roadmap!

6a017c332c5ecb970b01a51174caed970c-120wiTo learn more, talk with your advisor, or seek out an independent insurance professional.  Look for credentials such as CFP, ChFC, or CLU.  An independent will not only know the ins-and-outs of the ratings agencies (some highly-rated companies have failed during past melt-downs, remember?), as well as which companies stand-out in this part of the market.   The right advisor should be able to bring the right experts to the table for you.  Of course (shameless promotion), you can contact me!

Jim


6a017c332c5ecb970b01a51174cbb0970c-120wiJim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and an Accredited Investment Fiduciary® serving private clients’ wealth management needs since 1991.   Jim is Founding Principal of The Independent Financial Group, a Registered Investment Advisor providing retirement planning and investment advisory services on a fee-only basis.   He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriately licensed professional.  All images used in this communication are in  public domain unless otherwise noted.

Tax-Advantaged is Better than Tax-Deferred! Do you know the difference?

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iStock Images

Jim Lorenzen, CFP®, AIF®

Tax-deferred and tax-advantaged are two terms often used interchangeably and, as a result, often lead to a lot of confusion; but, the difference can be significant in planning how you will be drawing income from your nest-egg during your retirement years.  The key, of course, is to discover your options and do advance planning.

Many employers match employee contributions up to a certain dollar amount to a company-sponsored retirement account, which usually offers tax-deferred growth.  Contributing to your account up to the employer match is a significant first step to retirement success.

However, many have found that their company-sponsored plan has proven inadequate due to contribution limits and other factors.  Most investors would likely be well served seeking out other sources of tax-advantaged retirement funds.  When used properly, tax-advantaged money is taxed up-front when earned, but not when withdrawn.  This approach may seem costly; but, that view may very well be short-sighted and far more costly.[i]

Let’s take a look at a hypothetical example of tax-deferred and tax-advantaged money at work.  Our fictitious couple, Mitch and Laura, are starting retirement this year and will need $50,000 in addition to their Social Security benefits.  Assuming a 28% state and federal tax rate, they’ll actually need to draw $69,444 from their retirement account to meet their needs.[ii]

Tax Deferred

Need = $50,000

Taxes = $19.444

Total Withdrawal required to meet spending need: $69,444

What if Mitch and Laura had balanced their portfolio with a tax-advantaged funding source?  What if they could pull the first $30,000 from the tax-advantaged source and the rest ($27,777) from the tax-deferred source?  What would that look like?

its-about-timeTax Deferred Combined with Tax Advantaged

Tax-Advantaged money = $30,000

Tax-Deferred money = $20,000

Taxes = $7,777

Total Withdrawal to meet needs and taxes = $57,777

Because Mitch and Laura balanced their portfolio, they saved $11,667 each year during retirement – almost 24% of their year’s living expenses each year!   Simple math reveals a savings of over $116,000 during ten years of retirement; and it they’re retired for 30 years, as many are, the savings is over $350,000, not counting what they could have made by leaving the money invested – which could be rather substantial:  At just 3.5% annualized, the total would come to over $600,000!

A Plan that Self-Completes

Most savings plans, including employer-sponsored retirement plans, are dependent upon someone actually continuing to work and actively contributing to the plan.   If work and contributions stop, the plan does not complete itself.    

It’s been my experience that relatively few individual investors have self-completing retirement plans, while a rather large percentage of high net-worth investors do.

What financial tool can accomplish the goal of being self-completing?  Not stocks, bonds, mutual funds, or even government-backed securities of any type.   There’s only ONE I know of – and, it’s tax-advantaged, too.   Believe it or not, it’s a “Swiss Army Knife” financial tool called life insurance.    It’s not your father’s life insurance; it’s specially designed

It can ‘self-complete’ a retirement plan – and it doesn’t matter if the individual dies early or lives a long life.  Few people realize they can win either way.    As I said, stocks, bonds, real estate, commodities, and company retirement accounts simply can’t match it; but, the design must be customized.

If you’d like to learn more about this and other smart retirement strategies, feel free to contact me.

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[i] Retirement guru Ed Slott, also a practicing CPA, is one who believes it’s very likely far more profitable to pay tax on the ‘seed’ money than on the ‘harvest.  I have created a report entitled, “How To Plan For an Income Tax-Free Retirement”.  You can request a copy at http://www.indfin.com/taxfreeretirementreport.

[ii] This has always been a source of misunderstanding for many individual investors:  The fact is not all the money in Mitch and Laura’s retirement account belongs to them.  Their retirement account might show a $500,000 balance, for example, leading them to believe they have $500,000.  The truth is less comforting.  The truth is, given a 28% tax-bracket, that $140,000 of that money belongs to the government, not Mitch and Laura.  They’ll likely never see it.  Their real balance – the one the statement doesn’t show them – is $360,000; and, as we’ve seen, they’ll need to draw-down $69,444 each year to meet their needs.  How long do you think that money will last?

 

 

Disclosures

Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® serving private clients since 1991.   Jim is Founding Principal of The Independent Financial Group, a fee-only registered investment advisor with clients located across the U.S.. He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

Caring for a Loved One at Home? Here are some tips!

Sunday Brunch at home.

Sunday Brunch at home.

Jim Lorenzen, CFP®, AIF®

Taking care of family does present its challenges; but, it can extremely rewarding – and a lot of fun!

If you’re one of those who’s embarking on this journey, there are a lot of resources available to you; but, there’s also a lot you’ll want to know.

My wife and I cared for my mom for nine years, and we’re now caring for her mom.  As I said, there are challenges, but it can be a time you’ll never, or want to, forget.

The button below will get you to some tips you might find helpful, as well as some personal experiences that you may find worth knowing.

Enjoy!
Home Care Resources and Tips You Can Use!

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Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® serving private clients since 1991.   Jim is Founding Principal of The Independent Financial Group, a  registered investment advisor with clients located across the U.S.. He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

TO ROLL? OR, NOT TO ROLL….

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iStock Images

Jim Lorenzen, CFP®, AIF®

Getting ready to pull the retirement cord?  In a previous post, I had talked about pension options – worth reviewing if that’s an issue for you.  I also recently provided an IRA rollover checklist  for those evaluating the pros and cons of such a decision.

Whether or not to to do a rollover is not a simple ‘yes’ or ‘no’ question.  It depends on your particular situation.  There are good reasons both for and against rolling over your retirement plan to an IRA – the checklist can help sort those out.

Believe it or not, there may be a reason to take some of your retirement out in cash and pay taxes right now!  How can that be?

If you’re on of those now doing your homework – good for you – you may enjoy reading this report, Six Best and Worst IRA Rollover Decisions.  This report not only discusses those decisions, it will also provide some insight on additional issues worth considering.

I hope you find it worthwhile.  You can download it here>  Click here for your report!

Before you get to the report, however, here’s a bit of news I came across from Mark Dreschler, the president and founder of Premier Trust.  His words:

The US Supreme court ruled this past June, in Clark v. Rameker, that inherited IRAs are NOT protected from a beneficiaries’ bankruptcy. Previously, this was an open issue. Now, the only way to protect an inherited IRA from inclusion in the beneficiaries’  bankruptcy, is to have a correctly worded IRA Inheritance Trust named as the beneficiary. This will also protect the IRA principal from other creditors, or divorce proceedings.

However, if the distributions are paid directly to the beneficiary, they are NOT protected from bankruptcy or even attack in the event of a divorce. An IRA Inheritance Trust which also protects distributions from attack is called an “accumulation trust.”  The trustee cannot be the child. The trustee has full discretion to hold distributions from the IRA in trust to protect the child or pass them out, depending on the circumstances. The child beneficiary may benefit from the distributed assets that the trust holds, but does not own them individually. Obviously, if the child-beneficiary has no title or control of the IRA distributions, they cannot be taken by a charging order or other legal means of attack.

Hope you find that helpful.  And, don’t forget to download your report.

Jim

 


Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® serving private clients since 1991.   Jim is Founding Principal of The Independent Financial Group, a  registered investment advisor with clients located across the U.S.. He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

 

 

Thinking of Rolling your 401(k)? This checklist may help!

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iStock Images

Jim Lorenzen, CFP®, AIF®

Getting ready to leave your company?  Considering doing a rollover?  This isn’t a decision to be taken lightly.  While rolling over your 401(k) or other qualified retirement plan to an IRA makes perfect sense for many people, it’s not an “automatic” decision.

I’ve put together a little checklist that may provide some help.  I hope you feel it’s helpful for you.

Jim

Click Here for your checklist!

 

Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and an Accredited Investment Fiduciary® serving private clients’ wealth management needs since 1991.   Jim is Founding Principal of The Independent Financial Group, a Registered Investment Advisor providing retirement planning and investment advisory services on a fee-only basis.   He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriately licensed professional.  All images used in this communication are in  public domain unless otherwise noted.