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Building A Financial Foundation

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Building A Financial Foundation

  1. 1. bUILDING A FINANCIAL FOUNDATION BUILDING A FINANCIAL FOUNDATION v
  2. 2. DO IT RIGHT! There is a Big Difference Between BUILDING A FINANCIAL FOUNDATION and GET-RICH-QUICK SCHEMES. BUILDING A FINANCIAL FOUNDATION v
  3. 3. TAKE CONTROL OF yOUR FUTURE you can build a proper financial foundation BUILDING A FINANCIAL FOUNDATION v
  4. 4. wEALTH wITH RESpONSIBILITy the x-curve concept of wealth responsibility the wealth* formula You can build a successful financial future! You must take care of your *This is a concept/goal developed by World Financial Group (WFG) for illustrative purposes only. In no way does this statement offer, responsibilities while building guarantee, or otherwise imply any financial gain or reward as a result of joining WFG. The term “wealth” is subjective and must be your wealth. defined on an individual basis. BUILDING A FINANCIAL FOUNDATION v
  5. 5. pAy yOURSELF FIRST save early MR. START EARLY saves $3,600 per year for 7 years in an 8% tax deferred account. MR. WAIT LONGER starts saving $3,600 per year for 17 years in an 8% tax deferred account, 7 years later than Mr. Start Early. small changes, big money BUILDING A FINANCIAL FOUNDATION v
  6. 6. HOw MONEy wORKS the power of compounding interest The Rule of 72, as a mathematical concept, approximates the number of years it would take to double the principal at a constant rate of return. However, the performance of investments fluctuates so the actual time it takes an investment to double cannot be predicted with any certainty, and there is no guarantee that an investment or savings program can outpace inflation. All figures in the above chart are for illustrative purposes only and do not reflect an actual investment in any product. Additionally, they do not reflect the performance risk, expenses or charges associated with an actual investment. Past performance is not an indication of future results. BUILDING A FINANCIAL FOUNDATION v
  7. 7. UNDERSTAND THE REAL RATE OF RETURN the effect of taxes and inflation on your purchasing power: EXAMPLE 1: EXAMPLE 2: If you save.................... $100.00 If you save.................... $100.00 at 3% Interest.............. + 3.00 at 5% Interest.............. + 5.00 Pay Tax at 25%............ - .75 Pay Tax at 25%............ - 1.25 (Combined Fed State)........ _________ (Combined Fed State)........ _________ Net After Tax................ $102.25 Net After Tax............... $103.75 Inflation at 3.5%.......... - 3.50 Inflation at 3.5%.......... - 3.50 Actual Return............... $ 98.75 Actual Return After.... $100.25 (After Tax Inflation) (After Tax Inflation) You Lose! You must get about 5% or more in interest to beat taxes and inflation. THE COST OF LIVING IN 1978* Average Income Per Year: $17,000 Average Cost of a New House: $54, 800 Are you Average Rent: $260 winning or losing Cost of a Gallon of Gas: 63 cents in the money Dozen Eggs: 48 cents Average Cost for a Chevrolet Nova: $3,823 game? *www.thepeoplehistory.com/1978 Assumes 25% tax bracket. The rates of return chosen are for illustrative purposes only, and do not reflect the actual investment in any product. Nor should it be viewed as an indication of performance for any particular investment. They do not reflect the performance risks, expenses or charges associated with any actual investment. Tax and/or legal advice not offered by World Financial Group or any of its affiliated companies. Please consult with your personal tax professional or legal advisor for further guidance on tax or legal matters. BUILDING A FINANCIAL FOUNDATION v
  8. 8. BE CERTAIN IN THE UNCERTAIN TIME Know the risKs scenario 1: $ $ $ $ $ $ scenario 2: $ $ $ $ $ $ This is a hypothetical example for illustrative purposes only and does not reflect the actual investment in any product. Therefore, the outcome does not reflect risks, expenses or charges associated with any actual invesment. Past performance is not an indication of future performance. Actual results may vary substantially from the figures in the example. All rates of return are hypothetical and are not a guarantee of future performance of any asset, including insurance or other financial products. Higher rates of return have been associated with higher volatility. BUILDING A FINANCIAL FOUNDATION v
  9. 9. protect how to calculate your family TAKE CARE OF yOUR FAMILy your protection need tHE diME MEtHOd Combined credit cards, loans, and other debts. The DIME Method is only one method to help determine a client’s insurable need. However, an insurable need of more than 10 times the client’s current income may not be accepted by WGS unless special exceptions apply. the odds of life what is your family’s before age 65* most important asset? It’s your ability to generate income! *www.guardiandibrokerage.com BUILDING A FINANCIAL FOUNDATION v
  10. 10. KNOw yOUR pRIORITy building a solid financial foundation Like building a house, you must build it from the ground up. Build it right. Build it strong. manage your debt create an emergency fund You should set aside 3-6 months income to help cope with emergencies and unexpected changes: Scenario 1 Scenario 2 Pay Minimum Pay a Little More (2.5% per month): $112.50 than Minimum: $145/month Time Pay: Over 25 years Time Pay: Less than 4 years Total Total Interest Paid: Over $6,000 Interest Paid: About $1,600 *Making Sense of Your Money, 2007 BUILDING A FINANCIAL FOUNDATION v 0
  11. 11. GET STARTED NOw managed growth Can it potentially GROW to achieve your goal? Is it SAFE enough? Does it have TAX ADVANTAGES? ADVANTAGES Does it have the proper PROTECTION for your family? Build it with confidence. Tax and/or legal advice not offered by World Financial Group, Inc., World Group Securities, Inc. or their affiliated companies. Please consult with your personal tax professional or legal advisor for further guidance on tax or legal matters. BUILDING A FINANCIAL FOUNDATION v
  12. 12. World System Builders is a team of individual World Financial Group associates working toward the common goal of building a better financial services industry, while helping their clients reach their financial goals. U.S.: World Financial Group, Inc. (WFG) is a financial services marketing company whose affiliates offer life insurance and a broad array of financial products and services. Insurance products are offered through World Financial Group Insurance Agency, Inc. (WFGIA) or its subsidiaries. WFG and WFGIA are affiliated companies. Headquarters: 11315 Johns Creek Parkway, Duluth, GA 30097-1517, PO Box 100035, Duluth, GA 30096-9403. Phone: 770.453.9300. WorldFinancialGroup.com Canada: World Financial Group Insurance Agency of Canada Inc. offers life insurance and SEG funds. Mutual funds, and Scholarship Plans in Ontario and Quebec, are offered through WFG Securities of Canada Inc. Headquarters: 3700 Steeles Avenue W., Suite 400, Vaughan, ONL4L 8M9. Phone: 905.265.9005. Fax: 905.265.9044. World Financial Group Insurance Agency of Canada Inc. and WFG Securities of Canada Inc. are members of the World Financial Group family of companies. World Financial Group and the World Financial Group logo are registered trademarks of AEGON Asset Management Services, Inc. Used with permission. BUILDING A FINANCIAL FOUNDATION v

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