Ignite Columbus Presentation
- 1. Ryan Puckett Columbus Financial Group, Inc 8425 Pulsar Pl Suite 450 Columbus, OH 43240 614-785-5100 ACCUMULATING WEALTH The tax information in this presentation is designed to be general in nature and for educational purposed only. Guardian, its agents and employees do not give legal or tax advice. $ $
- 2. During Your Lifetime You’ll Earn a Fortune! $2,000 $4,000 $6,000 $8,000 $10,000 10 240,000 480,000 720,000 960,000 1,200,000 15 360,000 720,000 1,080,000 1,440,000 1,800,000 20 480,000 960,000 1,440,000 1,920,000 2,400,000 25 600,000 1,200,000 1,800,000 2,400,000 3,000,000 30 720,000 1,440,000 2,160,000 2,880,000 3,600,000 35 840,000 1,680,000 2,520,000 3,360,000 4,200,000 AVERAGE MONTHLY INCOME YEARS TO RETIRE 2
- 3. Financial Success 16 66 18 Continuing to work Children Government Charity Will not survive to age 65 (income of $30,000 or more) According to a recent study* by the Social Security Administration, for every 100 people starting their careers, the following situation exists at age 65... *Social Security Office of Research and Statistics, April 2000 Financially Dependent on: “ Financially Independent ” 3
- 4. The Trouble with Most Savings Plans FOOD CLOTHING SHELTER TAXES AUTO INFLATION PLANNED OBSOLESCENCE TECHNOLOGICAL CHANGE INCOME ENTERTAINMENT RECREATION OTHER 4
- 5. A More Practical and Productive Plan INCOME ENTERTAINMENT RECREATION OTHER Create Wealth by PAYING YOURSELF FIRST! 5 FOOD CLOTHING SHELTER TAXES AUTO INFLATION PLANNED OBSOLESCENCE TECHNOLOGICAL CHANGE
- 6. Human Life Value Curve Your Human Life Value is your future financial potential over your lifetime. It is at its peak when you are at your optimal education level for your career. 8 Life Human Value
- 7. Financial Exponential Curve You only have one Financial Exponential Curve in your lifetime! 9 Accumulation Growth Take-off!
- 8. Education Years Earning Years Exponential Years Financial Life Curves 10 Life Human Value Exponential Curve Accumulation Growth
- 9. Education Years Earning Years (No Exponential Years) Delayed Exponential Curve 11 Life Human Value Accumulation Growth
- 10. The Advantage of Tax-Deferral* $83,572 $41,274 $15,592 10 20 30 40 YEARS $100 per month deposited at 5.00% before tax Compound interest for 40 years equals $153,237 * Assumes a 25% tax bracket $898 $4,319 $11,893 $26,309 TAX DUE 15 Figures quoted are for illustrative purposes only and are not indicative of a specific result that may be obtained on any particular product. They do not include consideration of the time value of money, inflation, and fluctuation in principal.
- 11. The Goal To Accumulate wealth for a secure and comfortable future. 16
- 12. The Obstacles Everyday living expenses and discretionary expenses Procrastination or running out of time The economy (including current tax on savings), world events and their impact on your job (likelihood of unemployment) 17
- 13. The Obstacles Accident or Illness Where would the money come from? Are there sufficient assets? 18
- 14. The Obstacles * According to the 1985 Society of Actuaries 19 Age: 25 30 35 40 45 50 55 Probability : 44% 42% 31% 39% 36% 33% 27% The odds* of a person having at least one long term disability that lasts three months or longer before that person reaches age 65: The table above* shows how many people have recovered, died or remained disabled for five years after a disability’s onset. Age @ onset of Disability : 25 35 45 55 Recovered : 44.1% 34.0% 21.5% 11.8% Died : 9.7% 12.3% 19.9% 28.5% Still Disabled : 46.2% 53.7% 58.6% 59.7%
- 15. Total Disability ENTERTAINMENT RECREATION OTHER Nothing for... Where would the income come from? Employer Benefits Spouse’s Income? Family? Friends? Social Security? Charity? Nothing for... Nothing for... SAVINGS INVESTMENTS 20 FOOD CLOTHING SHELTER TAXES AUTO INFLATION PLANNED OBSOLESCENCE TECHNOLOGICAL CHANGE INCOME
- 16. The Obstacles Death Where would the income come from? HUMAN LIFE VALUE example : $50,000/yr x 35 years = $1,700,000 $100,000/yr x 25 years = $2,500,000 And this doesn’t even include inflation! 21
- 17. The Obstacles Two Problems No income for expenses. No income for savings. 22
- 18. The Solution Pay Yourself FIRST. Start NOW. Guarantee Savings If You Become Disabled. Restore Your Human Life Value At Death. 23
- 19. Live Become Disabled Die Summary 26 The values indicated are based on the 2003 dividend scale and assume that the currently illustrated non-guaranteed elements, including dividends, will continue at the current scale for the life of the policy. This is not likely to occur, and actual results will be more or less favorable than shown. This presentation is not valid without complete Guardian illustrations (Policy ID: 16423) containing important statements regarding guaranteed and non-guaranteed values.
Editor's Notes
- #2: When we spoke previously, (prospects name), I mentioned some concepts that have been of benefit to people like yourself. These ideas have to do with accumulating wealth and becoming financially independent. How do you feel about becoming financially independent? (wait for a response from the prospect). Would being financially independent be a priority for you? I found that using a few visuals I can present a clearer picture of these concepts and ideas.