IS A ROTH IRA WORTH GIVING UP THE TAX DEDUCTION?

Author: Randy Taylor
Randy Taylor Financial Services
Creative Commons Copyright 2012
http://finsecurity.com/RTaylor


Which IRA do I choose? A Roth I.R.A. or a Tax Deductible Traditional I.R.A. ?

There is no hard and fast rule on this since we cannot predict what federal and state income rates
will be in the future. The Traditional I.R.A. gives you the benefit of a tax deduction now; while still
allowing you to defer claiming any income  on the earnings within your account. Theoretically,
this also allows you to take the money that would have been used to pay current income taxes; and
invest that was well.

With the above benefits of a Traditional I.R.A.,  why consider a Roth I.R.A. at all?

The Roth I.R.A. gives you a key benefit in that when you do take income distributions in the future; they
will free from income taxes.  The longer you live and take income; the better the Roth I.R.A. starts to sound.
If you feel that your future income tax bracket will be higher than it is now; than the Roth becomes more attractive.
In addition,  If you want to pass  this account onto your heirs or defer taking income until after age 70.5; you are not subject to the penalty that the traditional I.R.A. creates if the income is taken after age 70.5

For a complete chart comparing alternatives for I.R.A. accounts, refer to the chart link below. However,please see your tax advisor first; and also your attorney and/or financial counselor.
refer to the simple yet comprehensive chart below, which is included in my website documents:

Roth Versus Traditional I.R.A. 2012 reference chart below:

http://finsecurity.com/finsecurity/pdfs/RTaylor/2f4-14.pdf

Randy Taylor Financial Services has helped consumers for over 29 years; and other financial professionals for 10 of those years. We do not give tax or financial advice. Please see your tax advisor, attorney, or financial consultant. Randy Taylor can be reached at the phone numbers below:

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Website:    http://finsecurity.com/RTaylor
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(916) 601-5270

INSURANCE SOLUTIONS BY TELEPHONE


Randy Taylor
(915) 601-5270
License # 0643596 , Over 4,000 clients served since 1983

Why and How to Shop With an Insurance Broker for Life Insurance 

Problem:  There are over 1800 insurance companies and as many as 8,000 possible products to 

               Choose From; just with Life insurance alone.  Annuity Savings accts also number in the Thousands.

Solution:  Call an experienced insurance broker or  financial planner that has specific experience in researching 

               all companies available and matching the products up with your health history and goals.

               A specialist with experience can use sophisticated software filters and search engines resulting in a

               a long term solution that cannot be matched by a "sales agent" that only represents 1 company.

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               You should give the following information to your broker:

               > Any daily routine prescriptions that you take and how long you have taken them without a change.

               > Disclose if anyone in your immediate family only; has died before age 60 due to cancer or heart

                  disease.

               > Any tobacco use in the last 5 years.

               > Any hazardous sports such as racing, scuba diving, or aviation that you engage in.

               > Any foreign travel with specific plans outside of the U.S. or Canada in the next 2 years.

               > Height vs. weight in light clothing.

               > Any DUI'S in the last 5 years and the # of moiving violations while driving in the last 3 years.

               > Any hospitalizations in the last 10 years and any planned surgeries that have not been completed.

   With the information above an experienced broker can save you up to 50% on your yearly premium by

   by matching your health history up with the best insurance carrier for you. An example would be a healthy

  cigar smoker that smokes less than 48 cigars per year might qualify for the lowest non tobacco rate and save

  as  much as 100% versus a company that would rate him as a smoker..(90% of the companies would !)

How to choose a broker

1.) Ask them if they can send you a spreadsheet on the financial strength ratings of the carriers know as a "Vital Signs Report".

2.) Check their license # on their state insurance website and see if they have any complaints on file.

Google their company name for additional information.

3.) Ask for a rate comparison that includes at  least 10 companies ranked by premium that they recommend.

This can all be done by telephone. Of course you will eventually want a more detailed discussion of your specific

goals including a review of any older policies that may need to be replaced or retained.

This article is meant for discussion purposes only and should not be a substitute for an objective meeting with your financial planner, insurance broker, or tax advisor.

I am available from 8:00 a.m. to 5:00 p.m. Pacific Standard Time.  I currently am only giving estimates free of charge for residents of California, Ohio, and certain counties in Florida.

Randy Taylor, Author Creative Commons Copyright
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                                  Pricing: https://www.legalshield.com/MS/Multisite?site=hub&assoc=taylorr 
Serving clients and brokers since 1983
(916) 601-5270

Motivational Monday# 2 "When Someone says I can't' I say Watch Me"

Author: Randy Taylor, 06/08/2012

(916) 601-5270

Defeat can really be a victory

We learn more from out mistakes than we do from our successes. When most people are down, have faced set backs, and have hit the proverbial "Rock Bottom"; it forces them to think and to rally their energy to come back rather than wallow in self pity.  Tony Robbins says that people are motivated by both pleasure and pain.

When pain becomes unbearable; It;s a normal defense mechanism to come back stronger to escape the pain.

Bruce Jenner place fourth in the Olympics and was so heartbroken after watching the other 3 medalist celebrate their victories that he was motivated to write down his goals on all 10 events for the Decathlon on a sheet of paper and carried it with him every day for 4 years until he came back so motivated and improved in all events he was  named the worlds greatest athlete; a decathon winner.

My First Major Setback  Improved Me in Every Way

From 90 pound weakling to to California State Teenage Weight Lifitng Champion

I was beaten up in front of the entire school by a kid 1  year older than me and almost a foot taller in 8th grade. I weighed about 105 pounds. I started weight training and force feeding myself 5-6 meals per day so that I could come back stronger and regain my confidence and have a "re-match".

I entered high school weighing 120 lbs the next year. 4 years later, I weighed 180 lbs. and won the California Olympic Style Weight Lifting Contest and the same year won a title: The Most Muscular Teenager in California.  I finally was ready to fight this  guy and win but by then; I had gained his respect and  more importantly; I had regained my own self respect.  The setback had strengthened me.

The More Serious the Mistake, The More You Learn:
Near death car accident #1 ,at age 21
I was young and foolish as they say and had gotten up at 5:00 a.m. to go fishing  before work one Saturday while in college. I worked a full day after that in the sun and drove home; tired. I never made it that day: I feel asleep at the wheel only to wake up 75 feet before hitting a guard rail at my last freeway exit.  The impact totaled a full sized truck and pulled the guard rail out of the ground. The only thing that saved my life was drivers training in high school which taught me to have my hands at 10 and 12 O'clock on the steering wheel.
The accident cost me a new truck, a fine to the city to replace the guard rail;  but I no longer
try to be macho and drive impaired; I instead pull over.. The accident probably  kept me from repeating a bad habit that would of killed me before anything that follows below would have happened.  Mistakes lead to learning.

Near Death Car accident #2: Experience at age 36, What doesn't kill you makes your stronger.

I was involved in a serious  car accident where both the driver, another passenger, and myself were injured.

I lost 35 pounds. I could not exercise for about 1 year and then could only swim.  I learned earlier that  I could gain weight and also that it would  take time and patience. 2 years later, I re-entered bodybuilding after not having competed for 18 years and was again stronger  and  better physically. My self esteemed had improved because I learned that the saying: "What Doesn't kill you, makes your stronger.

Failure increases you odds of Success on the next attempt

We all have probably lost a job or a sale through bad judgement or lack of skills. Even the trauma of a divorce can cause you to break a bad dating pattern, or force you to go into self improvement which greatly increases your odds of success on the next attempt.  "I will fail a thousand times to succeed only once." Og Mandino.

When Someone Says I Can't , I say: Watch Me

Now I have entered acting; the most competitive profession of all. My daughter told me It will interfere with your day job.( A kind way of saying; I don;t think you can do it)  If I fail in the process; I will still gain in the process. So far,  I will have been on television 10 times in 10 weeks by before the end of June. Something I thought to be impossible. Now,  I am hoping that my daughter will tell me: Dad, I hate to tell you this but:  "You Just Can't  Do it"  My response will be:   Watch Me!

For Financial Calculators, Inspirational Articles, and More Go to my Website

http:finsecurity.com/rtaylor

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Life insurance and I.R.A. Account Specialist
Serving clients and brokers since 1983

Author: Randy Taylor 6/8/2012, Creative Commons Copyright (If  copied it must be in it's entirety, without alterations of any type.

How To End Procrastination

HOW TO END PROCRASTINATON

Author, Randy Taylor 1(916) 601-5270 Creative Commons License 

This blog post and article can be re-used and shared but only if copied in it;s entirety and not altered in any way.

IDEAS WITHOUT ACTIONS; ARE JUST THOUGHTS  (Randy Taylor)

My life was changed forever when I read a statement by Og Mandino in his book: "The Greatest Salesman in the World".  He said : "No map no matter how carefully planned ever took a traveler over a single step of land."

So it is with most of us. We may get bursts of creativity only to see success delayed by self sabotage or fear.

Anthony  Robbins coined the phrase: "Just Step Up." and the following formula from him; helped me overcome a 4 year mental block. Here it is in a nutshell my paraphrasing:

1.) State your goal

2.) Give it a deadline for completion

3.) List the steps necessary and give each of them a deadline.

4.) If you miss a deadline; adjust it but keep yourself accountable.

Then "Just Step Up" and take action.

Confucious said:   A Journey of a thousand miles begins with but a single step.!

Nike said: "Just Do It". Do you see a pattern here?  I learned about discipline while gaining 70 lbs. in 2.5 years while on my way to becoming a state champion in weight lifting. I did it with monthly goal setting and by taking the first step: 

Please read the attached article by the Master Motivator:  Jim Rohn by clicking on the blue link below:

I have attached an article from my Website Segment: Messages From The Masters. 

http://finsecurity.com/finsecurity/quotes/mm0148.html 

http://finsecurity.com/rtaylor

For access to more articles; or advice specifically regarding Fixed Annuity Savings Accounts or Life Insurance; contact me directly by phone below or on my Facebook Fan Page at: 

https://www.facebook.com/RandyTaylorFinancial

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Website:    http://finsecurity.com/RTaylor
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Life insurance and I.R.A. Account Specialist
Serving clients and brokers since 1983
(916) 601-5270

Creative Commons Copyright License, Author Randy Taylor

GORILLA GLASS FOR YOUR PHONE OR LAPTOP.

GORILLA GLASS 2,TECHNOLOGY, BY CORNING::
IMPACT AND SCRATCH PROOFING FOR YOUR SMART PHONE OR LAPTOP


Why is Gorilla Glass the new state of the art surface for your smart phone and other tech devices?

The answer is simple: It's a new generation of thinner yet stronger, glass for your important tech devices like your smart phone, laptop, or t.v. set.  It not only resists impact better than normal glass panes of equal thickness; it is resistant to most solvents and liquid chemicals; which means you can clean it with a normal window cleaner or soap and water without scratching the surface.

Does it affect the performance of my touch screens etc.?

Corning states that it actually works better for sensitivity where needed.  It allows the glass coverings to be thinner with increased strength which means that you actually get better performance.

How is it possible to have a thinner glass that is stronger with more scratch resistance?


The glass is placed in a hot bath of molten salt at a temperature of approximately 400°C. Smaller sodium ions leave the glass, and larger potassium ions from the salt bath replace them. These larger ions take up more room and are pressed together when the glass cools, producing a layer of compressive stress on the surface of the glass. *

Does this increase  my cost when I request Gorilla Glass 2 with a new purchase?

The answer is no. It is already available on the newer generation of smart phones, laptops, and even television sets.  You should ask your sales persons if your next purchases come equipped with Gorilla Glass. See the partial list below of manufacturers that are offering the Gorilla Glass surface.


Which manufacturers have products out now that feature Gorilla Glass, or Gorilla Glass 2?
Currently ACER, HTC, SAMSUNG, LENOVO,  and more are using the first generation. Gorilla Glass 2 was just announced Fe. of 2012. "The company expects the first Gorilla Glass 2-equipped devices to be available in April or May. Corning Gorilla Glass is used by more than 30 major brands and has been featured in more than 600 product models, spanning over 600 million units worldwide. Read on for the company’s press release."*

For more useful Tuesday Consumer and/or techinical tips please follow me on Facebook at: https://www.facebook.com/RandyTaylorFinancial


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Website:    http://finsecurity.com/RTaylor
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Life insurance and I.R.A. Account Specialist
Serving clients and brokers since 1983
(916) 601-5270

How to Select and Purchase Mortgage Life Insurance

What is the purpose and proper use of Mortgage Life Insurance?

In the event of an early death of the home owner prior to the loan balance having been completed; the income of the home owner would be lost forever; yet the house payment is still due.  Mortgage life insurance is simply a funding vehicle that pays an income tax free payment to the beneficiary to allow the debt to be satisfied.  Then,  the surviving spouse, children, or relatives can own the property free and clear without having to face the burden of raising money or facing foreclosure.

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Why would I need Mortgage Life Insurance if I already have P.M.I., Private Mortgage Insurance, or insurance from the FHA?

 PMI,  Protects the lender, but does result in the buyer being able to use insurance cash to pay off the loan and own the house.  PMI insures the lender against losses in the event that the home is foreclosed upon.  Both PMI and FHA insurance,  are used in cases where the buyer has a low down payment; typically under 20%.

What Types of Products are available to me as a solution?

There are basically 2 types: Permanent life insurance that you keep for a lifetime; and Term Insurance, a  

temporary plan that you would keep until the loan is paid off. Contact the author for more details if you wish insurance estimates for insurance that continues after the loan is paid off.

Which programs have the lowest initial premiums ranked from the highest to the lowest?

Permanent plans: Whole Life, Universal Life, Indexed Universal Life, and Variable Life are plans designed to be used for lifetime coverage rather than mortgage insurance specifically.  They are the most expensive solutions in most cases; for mortgage insurance.  Contact the author for more details. 

30 or 20 year term plans with a guaranteed return of all premiums at the end of the term. 

These programs feature level premiums and insurance that never go up and a refund at the end of term of all premiums paid, with no interest if the plan is cancelled after the 20 or 30 years.

Straight guaranteed level premium term insurance. These plans can be renewed with no exam in the future but are best used in cases where you plan to cancel the insurance when  the terms are up.

Term lengths available:  30 years, 25 years, 20 years, 15 years, and 10 years.

In most cases the best strategy is to buy a temporary or "term insurance" plan  that has the longest rate guarantee  that fits your budget.

If I am to buy my own Personal Mortgage Insurance; How to pick the right product for my needs?

First of all estimate how long you might need the insurance based on how many years you will be paying on a loan. A term plan that renews or expires at the time is the least expensive long term solution.

Secondly,   Work with a multi-company broker,  rather than a 1 company "captive" agent so that you will have access to all available solutions with just 1 phone call.

Ask your  broker for a "Vital signs report".  This report compares the financial strength  ratings of insurance companies as measured by 5 different independent 3rd party sources.  The composite rating should be 80% or higher for the carrier you choose; according to most experts.

Work with a broker that can search several companies and compare rates for you bases on your age and current health.   You can then ask for a computer printout of the best plans based on premium for you from companies that have a composite rating of the 80th percentile or higher. These reports and rate searches should be offered free of charge.

Author: Randy Taylor

Copyright Creative Commons 2/2/2012

Serving Clients since 1983

Randy Taylor Financial Services

Ca. License # 0643596

(916) 601-5270

HOW TO EARN UP TO 9% TAX FREE IN MINUTES!

THE SOLUTION IS SO SIMPLE THAT IT IS OFTEN OVERLOOKED

Calling your life insurance, health insurance, or auto insurance agent and setting up your current payments to be billed on an annual basis instead of quarterly or monthly; can often result in a net savings to you  of up to 9%.

This is the equivalent of investing money at 9% with no fees and no taxes on the gain!

How is this possible?  Insurance companies have found that they keep  customers with the greatest success via annual billing versus other methods. They also save in administrative costs that occur in the billing process.

 Therefore they encourage consumers to pay premiums in advance by offering discounts that in this economy can be three times more attractive than leaving your money in a municipal bond account or a low interest money market account.

What are   the best ways  to pay premiums?

Examples In order of the lowest cost to the highest:

Single annual payment: Usually no fees of any type and therefore the least expensive.

Semi-annual payments: This is often a great compromise since the fees may be as little as 2% additional.

Monthly deductions  from a checking account: or credit card: The fees are about 4% on the low end and up

to 9% in most cases.

Quarterly payments:  Insurance companies have found that this method of billing leads to the worst results

in customer retention, requires billing, and therefore is the most expensive.  I have seen life insurance companies charge as much as a 20% fee for quarterly payments.

What is the bottom  line?  If you are holding enough money in a low yield investment vehicle like an interest bearing checking account, money market account, or in this economy; it just doesn't make sense to leave it there to earn 3% interest and avoid a savings of up to 9% net.

It should be also noted that other high fee accounts like credit card charges as well as insurance payments should be paid in full whenever possible before investing money towards your retirement etc. The reason: It's simple math: most investment accounts cannot perform on a guaranteed basis at a level higher than card fees or insurance premium fees.

Discounts vary according to both the insurance companies and the product types. The above examples are

typical though of life insurance companies.  It is recommended that you call your insurance agent to determine the exact discounts for your personal or commercial lines of insurance and act accordingly.  This article is offered for informational and entertainment purposes only and not meant to be construed as tax, insurance, or investment advice.

Please feel free to comment and/or contact me  for more information

 

Author : Randy Taylor

Randy Taylor Financial Services

(916) 601-5270

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Copyright: Creative Commons 2012 Ok, to share this article as long as it is reproduced in it's entirety without modifications of any kind.