Very Cool Idea For Creating Wealth

I am always looking for new strategies and new ways to help my clients and loved ones to accumulate, protect and grow their wealth and recently I found a really good one. 

Basic Idea: Every time you lose a dollar you not only lose that dollar but all the compound interest you could ever have earned on that dollar for the rest of your life.  I knew this part and have covered it in the Wealth Transfer video on the video section of my website (http://meritplanning.com/videos/)

What I did not know, or was not grasping fully, is that for most American’s the amount of money that they lose to wealth transfers, if recaptured and redirected to investments, would actually accumulate to MORE than they will actually have from their planned retirement savings strategies.  So most of us are not only completely wiping out all benefit of our savings plans with the inefficiencies in our plans but losing more money than we will accumulate!

In other words for someone who plans to have let’s say 1.5 million in savings by the time they are 67 when we look at their wealth transfers, and redirect them to earn compound interest, often that money WOULD HAVE accumulated 2 million, 3 million etc.  Just addressing the money they are losing unknowingly and unnecessarily creates more assets than all of their focused planning!!  This made me think that wealth transfers are the most important thing to address and then we can address how to protect and grow the accumulated assets created from savings plans. 

Guess what?  I wanted to see if I had any wealth transfers as I focus on this stuff all day long.  I did J  There are twenty one standard places we are taught to look and I found wealth transfers in my Taxes, Car Insurance, Home Insurance, Life Insurance etc.  Its amazing how hard it is to see where we are transferring our hard-earned dollars (and all the interest we could have earned on them) to other people in this busy life.   

Here’s my message: Don’t transfer any of your hard earned money to anyone else unless you know about it and want to be doing it for something you get in return!

I’d like to help you look and see if you have any of these Wealth Transfers in your life so let’s get on a call or webinar in the near future.   Just shoot me an email or phone call if you’d like my help finding this lost money and redirecting back towards your goals. 

God Bless,

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Tags: Financial Planning, Investements, Retirement Planning