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Blog - Michael M. McDonough, Inc.
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2 weeks ago
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Forget That Social Security Increase, Seniors Are in Trouble. Here’s Why
https://www.barrons.com/articles/social-security-seniors-retirement-51555952051?mod=djem_b_Weekly%20barrons_daily_newsletter

A sobering look at retirement economics for many, reiterating what we already know: social security was meant to supplement other sources of retirement income – not be a principal source. The advice to work longer makes sense for those who can, as it reduces the retirement period to be funded while also increasing the SS benefit. This helps mitigate “longevity risk” which amplifies all other retirement risks (inflation, market, health care costs, etc.). Unfortunately, studies show some 40% retire before they planned to – involuntarily, for one reason or another.

2 weeks ago
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Minimizing federal income tax on trusts under the TCJA
https://www.thetaxadviser.com/newsletters/2019/apr/minimizing-federal-income-tax-trusts-tcja.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=26Apr2019

My former JCU classmate explains the significant - and recently expanded - disadvantage to Trust taxation. His tax-saving ideas overlook an intensely tax-efficient and proven investment vehicle: the Investment Only Variable Annuity. No current 1099 income, fully diversified, multi asset-class investment portfolios (hundreds of funds) to accommodate any risk tolerance, with a favorable, transparent cost structure, and the ability to rebalance the portfolio sans tax implication. Taxes aren’t the only enemy; elegant simplicity can be its own reward.
Lots more well-vetted advanced planning ideas in our robust digital library:
http://mmmadvisory.com/resources/

2 weeks ago
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Here’s How Much Pro Golfers Earn in ‘Free’ Retirement Money From the PGA Tour
https://www.barrons.com/articles/pro-golfers-retirement-pga-tour-51556124221?mod=djem_b_Weekly%20barrons_daily_newsletter

See that? If you can hit the green in regulation and two putt under pressure, you can be among the hundreds of PGA members with a significant deferred compensation balance.
My team and I can share well vetted, tax-efficient investment approaches. Check out the advanced planning ideas in our robust digital library: http://mmmadvisory.com/resources/

2 weeks ago
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What The Critics Get Wrong About Reverse Mortgages

Senior Housing decisions are important and, given the plethora of alternatives, they can be tricky. With working years behind you, having a backup source of liquidity can be useful; optionality has value. Among the ways to access home equity without selling are a cash-out refinance, a
home equity line of credit, and a reverse mortgage.

This balanced look at the pros & cons of the latter option focuses on preserving an investment portfolio in retirement, when the actual order and timing of returns has an outsized effect on portfolio value. While not for everyone, a key benefit to a reverse mortgage, relieving pressure on the portfolio when needed, is often misunderstood or diminished.

Check out the educational material and useful links on senior housing in our robust digital library: http://mmmadvisory.com/resources/

https://www.advisorperspectives.com/articles/2019/04/15/what-the-critics-get-wrong-about-reverse-mortgages

3 weeks ago
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Cracking the Nest Egg: When Accumulation Becomes Distribution

Drawing income from savings to support retirement spending requires a different investment approach than used in the 'accumulation' mode. Longevity compounds other retirement risks, including the outsized impact of market performance in years surrounding retirement as ‘timing risk’ amplifies already elevated investment risk. Even without slowing growth, elevated valuations, geopolitical challenges, and excessive leverage in a rapidly evolving world, volatility will resurface at some point. http://mmmadvisory.com/unpredictable-markets-a-harsh-backdrop-for-retiring-baby-boomers/

http://mmmadvisory.com/wp-content/uploads/2018/12/Cracking-the-Nest-Egg-When-Accumulation-Becomes-Distribution-Client-Edition-1.pdf

3 weeks ago
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The Importance of Disability Income Insurance for Attorneys

Just like Le’Veon Bell, your most valuable asset is likely your ability to earn a living (future earnings). Both you and Le’Veon have plenty to lose with untimely incapacity. Le’Veon understood this well enough to embark on a strategy which cost him some $14 million in guaranteed compensation to ensure (guarantee) at least $25 million over the ensuing 2 years.

The cost to protect yourself, your family and your future earnings figures to be less.

There’s no shortage of moving parts to a disability insurance contracts. And just as no two groups of employees are the same, neither are disability contracts. I can explain the nuances to protect you properly – and protect those investing their careers with you.

http://mmmadvisory.com/wp-content/uploads/2018/08/The-Importance-of-Disability-Income-Insurance-for-Attorneys.pdf

3 weeks ago
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10 Big Financial Mistakes Wealthy Families Make

Concise summary from family office experts from several disciplines on the investing and planning errors they commonly see.

Lots more well-vetted advanced planning ideas in our robust digital library: http://mmmadvisory.com/resources/

https://www.thinkadvisor.com/2019/02/05/10-big-financial-mistakes-wealthy-families-make/?printer-friendly

4 weeks ago
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The Art of Managing Retirement Assumptions

With interrelated variables, inherent complexity, unpredictable markets, and your standard of living on the line, retirement income planning demands your complete attention. Risks need to be understood and mitigated. Timing risk amplifies already elevated investment risk, while the unknown of longevity compounds all other retirement risks.

We help retirees frame the assumptions needed to support important decisions around converting savings into sustainable income for one or two lives. Our web site and its robust digital library are designed to help you: http://mmmadvisory.com/retirement-income/

http://mmmadvisory.com/wp-content/uploads/2018/12/Art-of-Managing-Retirement-Assumptions-2.pdf

1 month ago
Lawyer fingerprinting in this state turns up over 2,200 convictions unknown to bar

Turns out for nearly 30 years the CA State Bar has been out of compliance with a statutory mandate that it be notified of attorney arrests and convictions. So, in re-fingerprinting active attorneys more than Michael Avenatti’s transgressions surface. In fact, more 6,000 arrests and 2,200 convictions come to light. Looks like Warren Buffett is right again. Until the tide goes out you never know who’s been swimming naked.

Our financial acumen and resources help attorneys and CPAs serve clients more broadly, efficiently, and professionally. Check out our robust digital library: http://mmmadvisory.com/attorneys-cpas-2/

A California court rule requiring lawyers to be fingerprinted has turned up more than 6,000 criminal history reports, including more than 2,200 convictions previously unknown to the state bar.

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