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Rubino & Liang 3/5/17

Mar 5, 2017|

Just Don't Lose the Money is devoted entirely to the financial needs and challenges of retirees and those nearing retirement.

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The information on this program is not intended to provide legal accounting tax or investment advice Richard Rubino and Sam Langer principles of repeal in line LLC and LLC with a mass broker's license 1783398. Neither Sam rich nor repeat or lying are registered as investment advisors and do not give investment advice this show was a service of Rubino line. This is good just don't lose the money radio show with your host attorney Richard Rubino and Sam lag. For over twenty years rich and Sam have been broadcasting to the Boston area. Explaining how you can protect your life saved. Richard Sam's highly regarded and sought after guidance has been. Featured on Fox Business news and fortune and money magazines now. Your post that just don't lose the money guys from Richard Rubino and sales lag. Just don't lose the money young Sam flag and I'm Richard Levine now you welcome back to our show or should I say actually rich welcome back. You are well positioned that ignited wanted to sing that song welcome back Cotter and I was not it's a different this so please please they said it's great to be back which was. I don't know what Europe usually come from the tennis guy in the office but you know you're more ten than anybody. It's this Sicilian MA you know. That's not a won't knock me out so house floor four it was great it was and it was sunny with great weather. The great vacation. Daughter and our family. Came down agreeing kids were there. But you know show all right and you would not like Barack book I mean listen when then you don't show out you go from 7 AM to sit. 7:30 PM every minute has to be filled. But one thing that struck me down this image sake. Florida is a retirement community leaves police where we went anyway and there was so many people that seemed relaxed. They hand their playing golf they don't go out in the middle of the day they go out in the morning to go on the afternoon. To play tennis to walk on the beach to get shelled. It's like. Mend this is no stress Telstra now in the memo bell gets Annabel capped heave a damn your four area or insist. In our have a cocktail you wash the sun so much about this must stresses you're gonna try dismal beach these were people on the beach at sunset and during the day but that's not quite the case here it's not quite the case in terms of what we do. So today. We're gonna talk about taxes. In retirement. And how you could prepare and save for that stress for retirement years just like rich using strategies. That will make sure war you don't run out of money into make certain. You follow follow two rules were number one just don't lose the money and number two don't forget rule number one course please follow us on. FaceBook but also you know all the other social media outlets but most importantly to sensibly Al website just don't lose the money dot com. Is full of educational material and information that you can learn. On how to again achieve that stress free retirement fact when you. If you take the chance to make the effort. For the first few minutes you can just you know raw just sort of go around on the web server on the very first page there's an area. On the right here so we can watch a four minute video it's entitled are you ready for retirement and it's one of the blessings that you can do if you're nearing retirement. If you are simply just you know. Thinking about retirement may be between the ages of 655 and seventy you owe to yourself to log onto a website just don't lose the money dot com. Check it out check of the video are you ready for retirement OK let's get to work. Rich off course questions from dharma and you know they're writing and dear rich and Sam. I usually hate this time of year because it reminds me how much taxes. I have to pay to join the club right a really. My wife and I both planners and sabres and we go over some of the accounts or we have earmarked retirement. We are always amazed at how much. How taxes affect the growth there must be a more tax official way to safe vote. See you owed taxes are the they've killer you know if you're paying thirty cents on the dollar and 25 cents on and every dollar that you earned. And most people don't have deductions into my business people we get a check in. They lead they just to tell you even taxed on money. Thank you that you don't use blow I was reading this question again why you are or you were just chatting. And it sounds like that they have probably 401K or my grave and also they say that. They have money there it is here mark retirement but there were amazed how much taxes affect the growth sounds that they also have. After tax money that the charm as safe retirement so why so when that they want that a solution could be is that they could divide the money they say hey this is. Pre retirement this is post retirement the other what the problem with sort of saving money to traditional way the tax deferred way forward cases we know today. IRAs. 457 planes. On me before three B plans is that what we're doing is we're deferring taxes into the future. Which on the surface this sounds great because you're not paying taxes today right sounds great. But I think that's one thing that we ought to stop sort of stop and pause. And wonder. How it's gonna affect us as retired now we have if you're retiring tomorrow chances are your tax brackets can be about the same but you're retiring ten years from now. Where your recent retired in some of that money you gonna be using twenty years from now. Who knows where taxes are going to be right in our president trump as saying these are low taxes but one thing that I think a lot of people don't. Understand is that you know. It's mathematically challenged to low taxes because. Right now for every dollar that we actually take skin as a country we taken dollars with the taxes. About 76%. Of that money. Goes to pay for. Entitlement programs like Social Security Medicare Medicaid. And that's saying that. In 2002 when he. It's going to be close to probably like ninety cents personal problems the baby boomers are going to be of that age it can start using those so hard and they possibly lower taxes I'd say after. I mean I I hope he's right I would love to pay less taxes but I just don't see it happening and if you look back in history. History if they're repeats itself ever again. Boy do we need to brace ourselves of that be as high as marginal tax brackets today. Why as we know today it's 39 point 6%. But back in the sort of Ronald Reagan days doors highs 7080%. And Ronald Reagan is actually good good example. He and so he was not present but he was also an actor and one of the most. Famous most celebrated actors of all time. The problem was you can make. All that many films and one time he was asked hey you know you're so good at acting want to do more films. He says you don't want. This is back in his day if he made over at back in the day over 200000 dollars per year. Any taller made over 200 green and was taxed at about 80% today. Not 200 grand back in the days like there was a lot of money but dollars today but what basically explain was that says you know I make about two films a year. I make about a hundred grip her films so I make two to a woman to a thousand if I make more than that. Amen attacks I'm gonna pay back uncle Sammy B eighty cents on every dollar that I may cool why make another film I morph. So you know we have all those sort of things that we have to worry about. And here's all I know if you're nearing retirement got to figure out a way. To. Not just throw spear into the wall see what sticks you need to make sure certain things stick right end and you know some live like we're talking earlier about how to split up accounts if you have a a designated count. That's designated for retirement while he should. Reflect what you need in retirement what you need in retirement is their money every month I just a case recently actually old friend from high school we surface we re connected. He was introduced a meat through a mutual friend long story short. He is in his mid fifties sold the company for a four million dollars. And he came to me because his core core broker. There's such a good job. That in 2016. He must've been the only person on the planet. That actually lost the impasse in the stock market currently so army out out out as possible but want a shorter there was. That he actually put some time in as a firefighter. And you realize how important pension was so not to get into detail but we took half of the money we put into fixed annuity. That ten years from now we generate him about eighty green a year guarantees for the rest of his life. The rest of the money he used fidelity had some fun hopefully it would go up. Kept us fingers crossed and sort kept them on Iran it was some help with our colleagues John Ryan. And they were you know it's gonna be a good plan because half the money is earmarked for retirement and he doesn't need to worry about losing. Any of that principle. You know one of the things are we to start the most taxes and in light of tax sort of time march rich and I have put together this book. Entitled a power or of the zero session are written by a spur a different day for night. We have. In apple copies about a hundred copies that we would like to share without listening audience date so you call this number 877. 630. 8787. Ask for your free copy of the power of zero which is a book that will show you how to in the future. Have less taxes that you have to worry about the power of zero your free copy 877. 63087. 87. Or on the web at. Just don't lose the money dot com again just don't lose the money dot com speaking of taxes how about a little known strategy. That would give you actually tax free growth is end. Tax free distribution smile. Come right back we'll show you how. Hi I'm Bobbie office manager for Richard Rubino and Sam lane to schedule an appointment with Britain's him call me now. 8776308787. That's 87763087. Feet seven. Welcome back to just don't lose the money with Sam playing an attorney Richard remain out for the last two decades salmon rich have been helping people just like you protect their life's work. By following two simple rules. Now country music superstar Martina McBride with the. Rule number why don't they use the money. And Mohamed to. Don't forget number one just don't lose some money on Sam line I'm Richard Rubino welcome back to the show it's a wonderful Sunday hope everybody's have a good day relax a little bit. You know we were teased. Last week anchors who was pretty nice so now it is still much. It's not 65. Where where where over it but you don't really care rich who used a whole entire month and I don't go away can't you just go away and a good for your answer dissolution hip thank you thank you for that yourself and how rich are here dedicated to helping. I'll listen audience. As they approach retirement. Or maybe you are in return he actually enjoying themselves. But really the focus is on protecting what you have it's all about defense. But but offense is okay. But more defense and we're gonna show you how to do that. By following our two rules were number one just don't lose the money and number two don't forget we'll number one we'll talk a little bit about taxes simply because. Everybody's getting their tax stuff ready it's April 15 before you know we're gonna follow taxes and rich I haven't met anybody that likes to pay taxes. I don't I don't think I've met anybody either although there's some people let's say listen. The alternative of not paying taxes is that even making any money market that's not really alternative our alternatives where. You don't pay taxes and you can we will talk more about I thought the show but this whole entire month we're gonna dedicate. Our war sort of expertise in helping people save for retirement. If you're between the ages of say 55 and seventy. I encourage you to stay tuned listen to what we have to say because that's really. Our sort all of this is all businesses helping people retire constable. On that no mistake IMAX question author and Joan writes in deer Richardson and I own my own business. And while things are going well I'm trying to put away as much money as possible for retirement. I've maxed out my 401K. And I'm trying to find the best most tax efficient way to save above. My 401K contributions. Do you guys have any ideas. Well you know don't have any idea we have a right to but owning a business I mean I. Been in business all my life I never really had a job I mean you tell me new user whom I mean we've been in this business twice I used I was there is an example of this and being a small business small business is really fragile looking like something can go wrong. Competitors to make it sick keen man. And things can change really. Quickly so the other key to solid retirement when up your own a small business is my opinion is. Have no debt. And save what you can do music. You're making rain in money's coming being able to save not only should you. Save money in your retirement plan of course it's a great idea because you know as a business owner of those tax reductions to two count. But dislike I mean mean you are not probably that far off from author and Joan writing in about owning their own business they Max and their 401K. You know you and I've built a company from the ground up. We're very proud of what we've done. I'm not ashamed to say we live a nice lifestyle because we've helped our clients achieve financial success. But when it comes the personal stuff you know we Macs are forewarned can still. So I remember reading some stuff maybe ten years ago about how you can creative we as a business owner. Use a life insurance policy. To. Beat discriminatory. In terms of how we use a free time because when the water means that you don't have to include everybody in the in the plan yeah if you have a 401K for yourself exactly voluntary thing it's a voluntary thing so you have a small business it's twenty people. You wanna take care viewing your wife who are you know president and vice president and that's all you wanna take care of you can implement date. A what they called a deferred compensation plan but you utilizing a life insurance policy for a variety of reasons one. Maybe you need life insurance may be needed to JFK is may be needed because is teaming him policy. But one of the unique things about life insurance policy and guess. Go ahead. Taxes taxes they're actually none as is growing. It gross tax deferred. But if you set up the policy correctly. Their ways to take money out buyer what they called first in first though which is essentially taking a principal back. But then the balance of that you take out money via a very low interest so in some cases no interest. Loan and if you take money out as alone you don't pay any income taxes on the so. Without sort of get to to detail let me ask you questions enemies so listen every financial product. Is not right. For every one absolutely so who does this fit the system that doesn't fit like an eighty year old could golf at right guard twenty year old whose affair with the figure her for example we just did a case for a good friend of mine who owns a I hate that company you know heating and it commission company. He went firm and I have known each other forever he went from your three guy used to like eighty guys. To like sixty trucks a means a legit businesses and business and big business and because of the construction boom in Boston in the last several years. He's really done quite well so you post rhesus looks and you know we're friends so I don't tell everybody this sport. Am doing really well I'm making you strong six figures almost seven figures and I have very little dad. IMac some reform can't complain you know point to foul line on and use your age the Isaac 52 OK right. So we talked a little bit he was a little light on the insurance he's got three kids so what we develop tools we developed a plan. Wish he could sock away. Anywhere from below 50000 dollars a year to about a 150000. Gallons a year now he doesn't have to do it. Consistently every single year so who want you to put in fifteen next year can put in seventy dynamic in May may he has a lean year it's fifty maybe is a great year he puts an hundred fifties appear. He could skip a year serve as long as he has enough money in there. But what's what's the thought of greatness about this is that as it grows. There's no taxes under internal revenue code section 72. It's kind of like a 401K plans to different coat. And he has choices and we can allocate the money we use and indexed universal life. I wish what what does that mean. Well I mean she can pick an index like this the S&P 500. He can earn up to a maximum. Of what the S&P 500 dollars in this case it's twelve and a half percent. So I showed him the same plan and I did. And the last three years I burn somewhere between ten. And 12% in my mind who would have the S&P goes down what 12% I show I showed him my my statement from 2008. When the S&P actually went down like almost 40%. I didn't earning thing. But I didn't lose a nickel that's our opponent is has the power zero that's the power of zero that's great exactly so so wash short of it is obviously more to with a map. But one of the things wanna be. For cash so we were able to provide him was that if he saw the way it about. On average say a hundred grand a year. Now that she's sounds a big number so it's not obviously for everybody but if you have the ability to do that perked up listen. We did a projection where he could sock away about a hundred grand a year for the next ten years and then he could pull out. Pull out for the rest of his life rest of us like now. About a 120000. Dollars a year guaranteed for life fracturing tax free trial so it's a it's essentially an in a roundabout way. Building your own pension be your self employed people don't pensions but 21 in a way. Where it's tax efficient in this case tax free. We love to show you sort of a whole idea the concept of how powerful. Pay no income taxes can be and today we have a core rate. Book that we wanna share with everybody through the book goes over the San. It does it does in the last chance to charges it does but did not who is a you know very renowned author. Also we teamed up at slot who is the nation's premier CPA when it comes to tax free retirement they wrote this book the power of zero we have 100 copies we wanna share that. Book with few. And we'd be happy even papal post which all you have to do is call this number now 877630. 8787. Again the numbers 877. 6308787. Or visit us online at just don't lose them money dot com. If you wanna do you own copy without calling you can actually download and you can download you can give us information we'll send you the book. On but go on just don't lose the money dot com why you there. Our website has been. Revamped to be very educational of course warn business of course who like Peter Kostis and we like to come see you but it's there for your purpose of learning more about how to. Follow our tour rules rule number one just don't lose the money and no number two don't forget removal one when yarn just don't lose the money dot com check it out. There are some great things in the NL help you. I'll retire comfortably. On the right hand side is an area where you can learn more about if you're in good shape for retirement or not. If you're in good chief retirement fantastic going to be great things so it just clicked on in my ready to retire. You'll be in good shape right so again just don't lose the money dot com. We all know how important that phrases it's not what you make it's what you keep. Next we're gonna keep it in use it during your retirement or show you how to do it precisely. On your own terms. You're taking the first steps to a sound financial retirement this is just don't lose the money radio I feel free to visit us at just don't lose the money plus. Hi I'm Susan ward if you're listening to two of the cutest guys in finance radio and I knew cute. But prince Richard revealing Sam lane of Rubino and blame the firm that specializes. In protecting your money both legally and financially. Stay tuned for more informative radio just don't lose the money dot com. Just don't lose the money on Sam line I'm Richard will be welcome back to our show it's a wonderful Sunday. You took some time to join us we appreciate that rich united been. Doing this for enormous begin an old days I don't press on remember exactly the date but it's over 25 years. It's been a long time we used to be on those little little stations and 5000 watt station they used to. Go to bed at 5 o'clock yesterday in this country that you couldn't you couldn't you couldn't get a signal and I think Iran on batteries you know you got back into real trees I mean yeah yeah I'm sure you feel the same way what. We're pretty proud of what we yeah over the last. Two and a half decades we've helped thousands of people in the Greater Boston area retire comfortably. Not and we say this all the time went on all things all people you know Europe. If you're looking for help on how to get the best return all. Grow your money as quickly as possible was certainly not the right guy slow you know salmon lot's happened the last 25 years so we've stayed pretty focused on what we do. And we do our sort of how to make sure you keep what you have legally. I'm an attorney we do. Do trusts wills. Powers of attorney. Things that make sure that your assets. Avoid taxes avoid probate. And follow those true roll right on them Arafat's side you know. While we might be able to have. Helping draft the best trust possible to protect our host. If you go into nursing home or avoid taxes and probate low. Before that happens in before you deck truss actually is useful don't live live live for you guys have hopefully you have a long time now in retirement and it's all about having enough money. Not worrying about money. If you cooled there no more worry for retirees today it's about running out of money and safety of money just not having enough. So we use financial products insurers parks helped view. Get in create backed guaranteed income for the rest of your life which is. Very important one of things that we were talking about on the show today is how to do that even better by possibly pain. Maybe less income taxes are zeroing income taxes and you know income taxes are a thing that's gonna stay no matter what Donald Trump says she's gonna try to. Low tax I hope he does I'll be successful. But I think we're in for a great challenge me knock our country owes so much money. What are we well like twenty trillion dollars and that really into it and it's today. And yet disservice to dead guy and you know mortgage you gotta pay the market is cutting this since cutting now know congress are announcing what sounds great about how we do that. So we we have some challenges ahead and at the end of the day you know my mother always has taught me if you want something done right. To reduce do we yourself so I'm really interest in protecting when I have not about everybody else and wanna say that I mean that's what you should be thinking about. So on that note if you log onto a website just don't lose the money dot com there's lots of great information. In fact one of the things that. Well you know what. We'll come back to that but I guess where he would take questions why shake that you know we talk about the power zero seeing what you read this question let's get into the okay Joey Pam writes in there urgency and my wife and I both have good jobs and save every month in both our retirement accounts as well as our regular counts. But we are now getting killed in taxes. The fact we saw. Our 109 earnings on on mutual fund accounts. We couldn't believe it because our mutual funds went down but we still got a 1099 and there has to be a better way. OK well let's take some. You know it has to be blown away and taxes are real killer especially. If you have no deductions and you know the government sort of taken away most of the deductions. And you can't you can't do anything you just have to. Pay those taxes and even though. You salary might be a 100000 dollars a year you look at inept paycheck into the year after all the taxes. And it's like. C'mon already I mean I you know you getting another job just to pay the taxes you know real but there's no there's no way stand that we talk about the power or zero. And the pal zero. Has to do with what you talked about earlier but also has to do. Toward the break you're a person who wants to earn money. Without losing you know paying tax. Susan never fun but if you can maybe maybe maybe in the right situation. If you can pay later rather than sooner there's probably not a bad thing you know so these people are saving money in their retirement accounts I'm guessing they have formed when case like everybody else. I outraged. But there also say in this Saban and regular accounts so if you can imagine. If you had a choice she can shift some of the regular stuff. Over to the retirement side which means you'll pay current income taxes but it's not as easy as that is as maximum zone for a one case. There's maximum is on Roth IRA contributions and all that stuff so how do you create. Tax efficient growth. On your regular accounts well guess what there are things that exists today that we'll help you do that in fact. Help you kill two birds with one stone on the show everybody your. A review meaning that we did with me. 62. Year old gentleman. Husband wife came to see me about two years ago. They retired. Wife is still working part time that they only need the money yet because they have great rental income they were very lucky to about a four family in South Boston. Rents have gone through the roof. It says between that and actually my wife's to a part time job we have no doubt we're fine. So the whole idea was to use products. That's gonna help them grow the money. But with no hole. Risk of principal you know that that's as like magic I mean how does that work well if he was fixed index annuities which are so fixed annuity means that. You put in a 100000 dollars and you can never lose underpass there were storms and worse you have. Yeah I'm a grain of everything you know everything falls and so I heart then that's the first thing fixed means that you can't lose a price or index means that. Really put the money is in an index corrected my mistake and paid yeah hundred south and yet we actually did a nice mix for them last year. And last year of brain around chino where end of January we re outlook we allocated. There strategy. Within fixed index annuity we chose a 6040. Split sixty in the S&P. Forty in the fixed and the fixed the cleared rates side. This is new commitment we make no mistake about this this is not a mutual fund this is not an investment this is an insurance product. Study century. Borrows. The the outcome of the S&P. And they link back to your ultimate interest but it seems just earning interest that now though a lot of women what I was gonna say the best par was as who tombs review rich they got this statement. They knew how to read it but they weren't quite sure do reading correctly does that send their interest was ten point 29%. While that's what they made. And so we had a review meetings figure actually write the S&P one app actually higher but you know you only made ten and a half are you OK with. But these are the important part a couple of things one is that once they make that 10%. That's their money. You can't go down if they used to be goes down the next year. They still have captured that temper yes or on your on that example they put in hundred grand. And they this is use round numbers they made 10% they have a 110. That's their money it can never a global dole has really goes down 50% next year they still got the 110 yeah. You know but also stand this. This like a lot of companies that do this how did he choose the right. Company how do you know which company well let's not lose part of our job you know there's probably over 300. Insurance financial institutions out there that have the ability to produce these products than on all good. Someone great some are OK some actually lousy. So we use a very sophisticated system. We have a company that actually backs up and gives us information. And for lack of a better phrase we just deal with the cream of the crop. We're independent we don't work for ensure its own accord met life agents we work our clients. So in any given point we might have somewhere between eight to twelve companies. That we think are worthy enough. Of one of our potential clients consideration listeners as to where they put their money so those companies those choices depend on the person's age when they wanna take money out I mean. That there's a variety of OK a variety of reasons aren't we would choose company's eight over companies say BOC. Because of where you just said okay how long they might leave the money for to they wanted to get back it was a lumps arm what do they mean in an income stream. You know they they weren't. A BCD people in the swing guaranteed rate that's consistent over there to link to your contract mean. We're wrong if things are they all have the power zero pay off the pod cast your first. Here folks you know as we're talking my sue over that sounds great how to lie actually take advantage of us. One of the things that you can do. It's a call on number and ask for a one our free retirement planning consultation with me know and anybody else how would you be out of my time. To educate you on some of the products that exists today. As how he can take advantage of that so on that note you can duel by logging onto a website just don't lose the money dot com or call this number 877. 6308787. Tell the operator you would make it free consultation just don't lose the money dot com. No like that old beatle song rich but taxman there are taxes on just about everything you've got even if you're no longer here. Hi somebody office manager Billy Lange I know original exams scheduled better than I know my own and their calendars getting full. If you'd like to meet with rich and Sam's call me now a puts US ahead in the lines but promised not to tell. 8776308787. You call I'll answer it 776308787. Welcome back. To just don't lose the money with Sam playing an attorney Richard Medina special guests on the show Frank Luntz thanks Sam. I love the name of your show just don't lose the money that you are as an all right but that's how people feel that their nervous that's because of the economic conditions that exist today they actually hood. Lose their retirement nest egg and that's where people if you are so important. Now acted just don't lose the money with Sam or Lang an attorney Richard Urbina just. Don't lose some money on sale why I'm Richard rubio thanks again it's a great Sunday he took some time to be with us we appreciate that. Rich is not rusty at all in fact not rusty reunited why you have many of Oman and it didn't rain when I was on vacation and that's why I'm not pleasant I'm pepper cook fifty was in Florida enjoyed himself but he's back to work. Great to have him back in studio help when our clients. Follow. These tools rule number one not these two of our two rules rule number one just don't lose tomorrow and move immature and don't forget rule number one phone numbers 877630. H 787. Just a quick reminder I'm sure. If you listen to no show ourselves at least 34 times were great giveaway to share with people today it's entirely a power or a zero it's a book. That was coauthored by at slot which is the nation's premier CPA when it comes to. On taxes and tax free retirement plans. And east title this book the power of zero how powerful is zero well it's usually a final four zeros pretty powerful when it comes to paying taxes you wanna pay lower taxes no taxes. You need to get your hands on this book call this number 877630. 8787. Million members 8776308787. Operators saying by just how mean actress who shipping out to you we'd pay for shipping him by our next question last question pollen Betty writes in the rich and Sam. We are in the process of preparing our taxes. And after talk to their account and things got even worse a patent. That's like good that's Tucker I'm not only do we have to pay a lot of taxes now he tells me that we both pass away. There will be such a thing as. Death taxes. That our children will have to pay we have cash poor but very real estate rich where do we get the money to pay the tax we really need some solid advice on how to avoid potential death taxes. Well you know it's like dead dead Beatles song you know goes. Let me tell you how it will be one for you in nineteen the meat goes on the pac man who are detect who are take it easy well I. You know bizarre one for you ninety's the me. I'm always out outside does that with regard to a state taxes and there it's that the estate tax is such a death taxes. In Massachusetts. If you have more than a million dollars in total assets when you pass away. Here's a tax okay so let's give an example let's say husband and wife have a two million dollar state they own everything jointly. Hustler passes away wife gets two million dollars no tax on the first to die when white pass is away. She has two million dollars and she has won tax exemption and other million dollars. Which means that everything over that many in is taxed. It's for people who don't listen to this stuff all the time by Guido. It's hard to understand but just understood all draft where excuse me just understand one thing if you have more than a million dollars in tax in assets he got attacked. Problems we just in case the of the day husband and wife came in immigrants from content on this country worked worked worked save save save and somehow. Well a lot of it was hard work but some luck involved. They've gone to the real estate business and now that story's and and they buy for family they keep it they did they say a good. You know pretty good stuff that I don't want to buy another one the next thing you know these people have. Probably twelve. Multifamily homes and of all places South Boston file. I think collectively they're worth a blow. Nine million bucks or ten probably have no debt on the front and no debt on the property all clear call at ten million dollars. They have hit a little bit of money but then all the time Monica's every time they have enough money to buy new number not a problem doing the things that they know how to do and they have. Great cash flow in fact one of their sons who went to law school. I'm decided not to go practice law but to really come to fill in the business and expand that. The trouble is that when mom and dad ultimately passes away. If nothing else appreciates and there are 610 million dollars the kids again or somewhere between probably three to four million dollars in taxes to Uncle Sam yeah. And they have to pay that within his and I'm once rich that there was a 999 months otherwise 1819. Toward like credit card interest rates. So they say whoa that's great part. Where the heck we're gonna come up with three of four milling well you know we don't want someone you properties or shall we do this is the solutions to what one is you could sell some of the profiting. Which you would have to recapture depreciation. And definitely don't get it goes again several and then I wanna do they don't wanna sell up with the money someplace. You could re mortgaged properties you go to bank and mortgage that they don't want have a mortgage either. Or you could buy money you're by money exactly stormy described you what I money's like Bynum building. Buying it almost almost can't get there so we said look it you are in the real estate business you understand and so instead of Bynum going to pay the million dollars for it. Cash maybe you put up 200 grand. And you finance it over the next thirty years you make a mortgage payment threat okay so they so well okay we we get that. So the whole idea of buying monies to do exactly that but a set of Bynum building by life insurance policy that Sony. So when there was this week we sort of won a bottom backwards before we said this is how much is going to be in this where you do we have to go to the insurance company. To see if mom and dad. What healthy enough to get the insurance. So a month goes by. They take a physical. They get all the doctor's records in the past. Synod insurance companies as we would love to do business. We do ransom numbers we actually sent to go to the insurance world to get depressed pricing. And we came back with a four million dollar policy. Where he and she can have that for the rest their lives. And pay about 40000 dollars a year 41000 nausea so how long lot of money in fifteen years fifteen years so when they're done and over where it. No they would've paid in 600. Korean which is a ton of money. But for knowing boxes ton of money. So we should swamped. 6600000. Dollars for four million dollars with the tax free money that they can ultimately use the kids can use that the pinnacle Sam. Instead of selling you to build. So actually what what they're doing is that date taking the 40000 dollars a year out of their rents. There then transferring that money your gifting that money to a special trust. The trust is not owned by then the trust is. AE insurance trust that is outside of their state. So they get in the beneficiaries of that trust of their children today are actually giving their money to their children inside distress so when they passed away. That four million dollar death benefit is a 100%. Tax free 100%. SA tax free income tax free excise tax free I mean you name and it is no tax. Kinda like. Wounds and promoting all day need to grow as our book the power zero at the flat loves this you know what at slot if you've seen them on PB yes. He's a great proponent. Of shifting money from taxable. The tax free. In fact will show you how do that in this book is so if you call this number 877. 6308787. Again the numbers 877. 630. 8787. Operators. Are standing by. To take your name in news information. And we will send this book the power of the zero to you free of charge is not just like a rookie didn't book it's ninety pages. Of easy to read easy to follow easy to comprehend and misinformation how you can take action. And better your retirement by. The power of zero call now 8776308787. Or you can go on our website and get it through the website that just don't lose the money. Dot com we'll be right back. Just don't lose the money radio will be right back if you have questions it was like to schedule a no obligation meeting with attorney Richard are being our Sam Wang please give our officer Paul at 6176308787. Or visit just don't lose the money dot com. Ever wonder religions and get all their work done they start by calling me I'm Bobby office manager that would be doing. You can secure your financial future of the same way by calling me you call I'll answer 8776308787. 8776308787. Just don't lose some money beyond Sam I'm Richard Bruno thanks so much for. Taking time out again today to join us we welcome which back in studio today thank you after a little. Sort of and well deserve our Arnott hey we all deserve and are now so. You know we came back it's tax season in everybody's so cheerful and happy about paying taxes and our exactly not. So we're gonna show you how to possibly in the future understand what you're up against. And while the power of zero which is a book that we wanna share with you this the strategies in the ideas in that book I probably not everybody. But for many people you can take advantage of. How to soften the tax will in the future if you look like a copy of hopeful. In this entire month will be shared with the power of zero. You call this number it was a hundred page ninety page book full of great information on your taxes 877630. 8787. Always on the wet just lose money dot com and the rich and we just have one more thing is safe then. Forgot tool we're number one just don't lose them on a little bit too don't forget we'll know more and thanks so much for being here. Have a wonderful recipe this Sunday saying goodbye I'm seeing more homers for the you know take care. The information on this program is not intended to provide legal accounting sector investment. Fines Richard repeal don't sampling of principles of the you don't like LLC are no insurance. And that's broker's license 1783. The sale or break your review that was my. Are registered investment advisors don't get investment funds. This shows servicer to beat.