If you stopped working right now, will your money last as long as you do?
In this episode, I'm going to address the question that I've been asked
thousands of times. "Am I on track for a comfortable
retirement?" Well, that depends on a lot of things. I'm going to share with you the
most important things to consider when you want to know, "Hey, am I on track
for a comfortable retirement?" Get ready.
So, my name's Doug Andrew I've been doing this, what's THIS? Helping people optimize
their financial assets. Minimize unnecessary taxes and empower
what I call their authentic wealth for more than 46 years. I've authored 11
books. This is my last one. In fact, towards the
end, I'll show you how you can get a free copy of this. It's a 300-page book.
I'll buy the book for you. You just pay $5.95 shipping and handling.
But folks, in all of my various books, I've had a national radio show now
for just about 12 years. And I have this YouTube channel.
I'm very passionate about empowering people like you. In fact,
back in 2005 when I was training over 3,000 cpas and tax attorneys and so forth,
more or less selling my recipe to them instead of selling the cake
to my own clients to help more and more people, I let all my professional
licenses automatically just expire. I didn't renew them. And that was
to become a consumer advocate and help people like you and teach you
in ways that a licensed advisor is not allowed to teach you. So,
as you watch different episodes on this YouTube
channel, you're going to gain insights into
opportunities that maybe you didn't know existed. You never heard of
before. And frankly, a lot of financial advisors are never
taught. But when people ask the question, "Am I on track
for a comfortable retirement?" I go, "Well, that's basically a function of
where your money is." Now, where I have their money, if they came to me, I
can easily calculate that because I
usually diversify their money into superior vehicles averaging
between 6 to 10 percent tax-free rates of return
which means their money doubles about every 7 to 10 years. And
and then I know how to back into the equation. Well, how much do you need in
net after tax income to buy gas, groceries,
prescriptions, golf green fees if you retire today?
And if they say, "Well, 5,000." Well, that's 60,000 a year.
And so 60,000 a year is 6% of a million.
If we assume you only earn 6% which is
pretty achievable based upon my historical average rates of return,
then a million dollar nest egg would generate
60,000 a year, 5,000 a month of tax free income
which is better than 60,000 coming out of an IRA or 401K
which would only net maybe 40,000 after tax. Now, if that's sufficient, great.
But wait a minute. What about inflation? You have to consider the impact of
inflation on the purchasing power of those
dollars. So, how do you do that? So, this is what I call the tax
and inflation power curve. Now, if you're already sort of intrigued with what i'm
talking about, you need to learn how you can safely
accumulate money at 6 to 10 percent tax-free
rates of return that every million bucks can generate 60 to 100 thousand
dollars a year tax-free income into perpetuity. And so,
if you got to go and you want to learn, listen, my 11th book, a best seller
they're flying out of our warehouse, it's a 300-page book, it retails for 20
bucks. You can claim a free copy. I'll pay for the book. You pay $5.95
shipping and handling by going to laserfund.com. You click on
the link below. You pay $5.95 shipping and handling. There's also options there if
you'd like to listen and learn or watch and learn. Let me fire up this book to
you and there are 300 pages of charts, graphs,
explanations and 62 actual client stories.
There's actually 2 books in one. You flip one over, that's the
stories, this is the actual charts and graphs.
So, take advantage, claim your free copy. But if you want to
learn a little bit more here, let me share with you
that when you use the proper strategy you can estimate if you're on track
for retirement and not outlive your money
when you consider the impact of taxes and inflation.
So, if inflation were to average 3%,
you use the rule of 72, you divide 3 into the number 72.
And the cost of living is going to double every 24, 25 years or
whatever. But if inflation is 5%, 5 into 72
means the cost of living will double about every 14.4 years, every 15 years.
Now, do you know that in a baby boomer couple retiring today,
one of you is expected to live to age 96, okay? So, if you retired in age
65 or 66, that's 30 years. So, how many 15 year
periods in 30 years? 2. That means the cost of living will
double every 15 years. So, if you could get by on 5,000 a month
today, that means you'll need 10,000 a month to
buy the same gallons of gas, loaves of bread, haircuts, golf green fees that you
can could have bought for 5,000. You're going
to need that much in 15 years, you're going to need double that. You're
going to need 10,000. In another 15 years it's going to double
again. It's not just 5,000 more. It's
$20,000. In other words, the purchasing power is cut in half.
The cost of living doubles about every 15 years. Well, do you know what the true
rate of inflation is with medical care costs and prescriptions?
It's more like 7 to 10 percent. At 7%, the cost of living doubles
every 10 years. At 10%, it doubles every 7
years. That means you'll need twice as much in 7 years, 4 times as much,
quadruple in 15 years. So, you have to have a
strategy (listen close) where you're immune
from taxes going up. It doesn't matter what the taxes are
because your money's tax-free. Now, you don't have to say, "Well, I have to only
take 65 of what i'm taking in income. If I
pull out 90,000, I'm only netting 60,000 or 5,000 a
month in an IRA, 401K because those are taxable when you take
it out. I only need to earn 6% to net 6%.
In fact, I can earn nine and net 9 in a properly
funded, maximum-funded index universal life insurance policy. hat's why it's my
favorite vehicle. So, you want to have it be tax-free.
Number 2., If inflation goes to 10, you want to earn
15. If inflation goes to 15, you want to earn 20.
You link your returns to the things that are inflating.
I teach that in the book. And then you want to be
immune from market volatility. But you want to participate when the market goes
up but not lose when the market goes down. That's called
indexing. And so, that's what a properly funded indexed universal life insurance
contract does. When the market goes up like 2017,
many people locked in gains of 16 and 25 but if the next year the market dropped
40% like in 2008. You wouldn't have lost
the 25% you made the year before. I had many people that had a million
bucks, they earned 250 grand of interest in 2017. The next year, they didn't lose
the money they made in 2017. Now, in 2018, the market was sort of flat
but if it would have lost 40%, they would
have not lost. That's called lock in and reset. That's explained in the book.
And so, you want to have a vehicle or a strategy
where you're immune, you eliminate the dangers of taxes
inflation and market volatility and you accumulate your money totally tax free.
Every million can generate 60 to 100 thousand a year of tax-free income into
perpetuity. And if you do that, you will know when you're on track
for retirement and not outlive your money. But the
answer to the question is if you stopped working right now and if
you stop contributing money to your retirement
plans, would they last as long as you do? If
inflation doubles, how much you're going to need
every 7 to 10 years and if taxes go up? So,
why not just eliminate those dangers and have a more predictable retirement
income and you will be able to figure out if you're on track or not
but you'll arrive there much faster. So again,
if this intrigues you and you want to learn more, I would love to
gift you a free copy of this. It retails for 20 bucks. It's 300 pages of
information. I'll buy the book. You simply pay $5.95
shipping and handling by going to laserfund... L-AS-E-R,
laserfund.com. Laser is an acronym that stands for liquid
asset safely earning returns. And you pay $5.95 shipping and handling. I'll fire one
out to you free. Let me tell you why it's so powerful.
It's actually two books in one. This one is for the left-brain thinkers
that want the charts, the graphs, the numbers. If you
learn more by stories, you flip it over and you read this one.
And it has 62 active client stories. If you want to use both
your left brain and your right brain, then you read both books.
But claim your free copy now. Learn, empower yourself and you will be able to
figure out how much faster you can get on track for a
comfortable retirement.