I had him bring me $454,550 to deposit in an annuity with the 10% bonus. We were able to start the CRUT with $500,005 because of the bonus. He was the income beneficiary, meaning he could withdraw up to 10% per year, if needed. He passed away in 2017. Prior to his death he had withdrawn over $226,000 as income, and the account balance on the day that he died was over $619,000. He never had to worry about losing money in the market, paying commissions, or paying management fees. His family controlled the CRUT after his death with instructions to give her church 10% each year until the amount distributed to the church was $500,000 tax free. The balance could be distributed to the family. In addition, he paid no capital gains on the growth of the CRUT, and he also received a nice tax deduction for giving the gift to the CRUT. What an estate planning tool! So, Let’s Get Ready for a Long and Prosperous Life. Living longer is something to celebrate! Yet, it takes planning to be prepared for a long and prosperous life. I would like to have a conversation with you. Give me a call and let’s talk. My cell phone # 870- 391-9221. The previous Seven Strategies for Long and Prosperous Life was written by my friend Kim Butler. Kim has written several amazing books that can be found on Amazon. She and her husband Todd own Truth Concepts of which I have been working with their wonderful financial tools since 2007.
Life is Good, it’s what you make it. TLR Part 1 Show Me the Money!
The following story reveals the devastating impact of market risk, fees, commissions, and taxes on your ability to build lasting wealth. It was written by my good friend James L. Benstead, and it’s a powerful
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