Sometimes life sucks!

Ever have one of those days? weeks? months?  You know the kind of week or month that defies a good attitude, the kind of month that makes you question that there is anything good left in the world?

Yep, me too!  It's like when you drive to the town of Worthington after a big rain and see that 300 foot on the road was under 8 feet of water.  If you live around here you know that means to get to Worthington I had to back track 20 miles to go that final few feet and get into town.

While that was aggravating and it seemed like a big deal at the time (30 minutes of wasted time) it didn't effect me for long.  It's the rest of life that weighs us down, the traumas and conflicts that bite deep into our hearts and minds.  So yes, sometimes life sucks and there is nothing we can do about it.

It's during times like these that I seek the face of my creator ... I know he may not turn back time, or erase the heart sicking events.  But perhaps just seeking his purpose and asking for comfort is enough.  

I don't know ... I don't feel very wise today so take what you can from this ... I hope your month is uneventful.

Insure against what you can!  Pray to avoid that which you can't insure against.

How much will you donate to the government when you die?

How much do you want to donate to the government when you die?

Is your savings account earning you 2% or more?

Two silly questions but if you leave money in a savings account, you will donate to the government when you die even before your heirs get one single cent.  

The average interest rate being paid by a savings account today is less than a quarter of a percent.

If you deposited $5,000 in a savings account that paid 1/4% APR you would have about $5063 at the end of 6 years (assuming  the rate didn't decrease over that time).  If that $5,000 account gets caught up in the estate, it could be reduced by any taxes owed by the estate.

EXAMPLE 1

If a 35 year old woman in good health who does not use tobacco deposited that same $5,000 in a single pay life policy, her cash value at the end of 6 years would be $5,130 (twice the earnings from the average saving account).  Plus, if she died during that 6 year period her heirs would receive $14,470 (nearly three times the deposit amount).  The proceeds at death are paid directly to your designated heirs (tax free) and the government is left out of the loop.  If you need the cash you can cancel the policy and withdraw the cash value at the time you cancel ($5,130 at the end of year 6).

EXAMPLE 2

If a man age 65 in good health wanted to donate an sizable amount to his church but retain control of the funds in case he needed them, he could buy a single pay life policy for $51,949 with a death benefit of $100,000.  When he passes the church gets nearly twice his original donation, but if he needed to use the cash for an emergency it could be withdrawn.

EXAMPLE 3

A woman age 45 in good health inherits a $60,000 CD from the estate of her mother.  She wants to pass that on to her children but there are 3 of them and they are very young.  She can deposit the $6,000 in a single pay life policy and capture a $250,000 death benefit for her children, but if she needed to use the cash for an emergency it could be withdrawn.

 

If you are under age 84 and in reasonable good health, then let me talk to you about making more with your money or at least not giving it to Uncle Sam.