Have you Heard the Good News 

By Sara Finkelstein, Signature Advisory Group

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Look around you, it's everywhere. Yes, it's true. The good news is that we are all living longer. Around the year 1900, life expectancy was in the high 40s. Today, life expectancy is in the high 80s. How many people do you know that have exceeded "life expectancy"? I have a few in my family and I'm sure you do, too. Our Aunt Lily is 104 and a half!

Years ago people retired at age 65 and were lucky to live another 10 years in retirement. Today, it's not uncommon to live 30 or 40 years in retirement. So, with the good news comes a few challenges. What are those challenges you ask?

Firstly, how do you make your nest egg last as long as you do? Instead of having to stretch it for 10 years, you now have to stretch it for many years beyond that.

Secondly, you have to contend with inflation. At a modest rate of only 3%, the purchasing power of your money will be halved in just 24 years. Think of it this way - if you are 50 years old today, living on a $75,000 lifestyle, by the time you turn 74, you will need $150,000 just to maintain that same lifestyle. If you've become accustomed to parking your money in bank CDs, you will not be able to keep up with inflation. And let's not forget, as we get older more of our monies may need to be allocated to health care costs. Which brings us to the next point.

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Professional Services Directories  

MD Preferred understands that a job search involves far more than resumes and interviews. That is why MD Preferred has selected the nation's leading service professionals and recognized them with the MD Preferred Service Medallion. As you will discover, MD Preferred offers access to award winning professionals in: Real Estate/Relocation, Mortgage Services, Private Banking Services, Legal Services, Accounting Services and Financial Planning.

To find a service provider in your area visit our national networks or call 800-260-8366 Ext 702 for a referral 

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Are Tablets the Future for your Business? 

By Michael O'Malley 

Are we finally starting to see "the death of desktops"? I personally don't believe the end is near but there is a strong case building to support that theory. 

For the month of June, iPad users were responsible for 1% of the world's internet traffic...and 2.1% of the US. And that's just users of Apple's insanely popular device...that doesn't take into account the growing Android numbers.

Overall market share for both mobile and tablet has increased to 5%, for the first time, in June. This is a strong trend. I know I find myself using my phone and tablet almost exclusively...only going back to my PC when I want to do photo editing or heavier computer work.  

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Maximizing the Value of your Life Insurance 

By Matt Benore  

Co-Founder, Pegasus-DenverWest Insurance Professionals

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Most people understand the need for having Life Insurance Coverage. Whether you are protecting your family, business interests or supplementing retirement income, Life Insurance can meet those needs. Life Insurance offers such a great way to meet those needs that the IRS has put "rules" into place. If Life Insurance was not a good deal, then the IRS would not have their hands in it.

In addition to tax deferral, tax-free income potential, and the tax-free death benefit, some companies are adding additional value. One day you may need long term care do to accident or illness. Unfortunately most people do not have LTCi (Long Term Care insurance). Without the needed funds you might have to do without the needed support. And this could further jeopardize your health.

With the right kind of life Insurance policy, you could qualify for up to $7k of monthly benefit, have access to cash, and still have the death benefit available when needed? All this on top of the tax favoring Life Insurance already gets! "Triple Duty Dollars"!

Long Term Care protection is expensive. The average cost of a semi-private room can run $200 per day, or $73k per year!

If you would like information about these unique life insurance programs contact Matt Benore, Co-Founder, Pegasus-DenverWest Insurance Professionals at mattb@denverwestip.info or call 720-314-1804.

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Medical Directories 

Knowing how to reach industry decision makers is a critical part of any job search. MD Preferred healthcare directories help physicians and nursing candidates identify hospital and private practice in-house recruiters as well as the nation's leading search firms. The MD Preferred Hotel Directory helps healthcare executives plan conferences and meetings, business and personal travel.  

Hospital & Private Practice In-house Recruiters

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Don't Slip Over the Medicare Cliff 

By Geordie Crossan CFP.
NBS Financial Services, Inc.

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Many upper-income Medicare Enrollees are all too familiar with the elevated monthly premiums which they pay for Medicare Part B (coverage for doctor Bills & outpatient charges). However some of these same enrollees in 2011 may find that their costs have risen significantly due to increased premiums for Medicare Part D (prescription drug coverage). This increase is based on what is known as an income "Cliff" Scale. This scale uses the modified adjusted gross income (MAGI) of the enrollee in order to assess the appropriate monthly premium allocated to each upper-income Medicare participant. Modified adjusted gross income(MAGI) is found by taking the individual's adjusted gross income and adding back certain items such as foreign income, foreign-housing deductions, student-loan deductions, IRA-contribution deductions and deductions for higher-education costs. If an enrollee has a MAGI that is $1 over their bracket ceiling they will find themselves owing substantially higher monthly premiums.

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True Confessions 

By Anthony J. Ogorek, Ed.D., CFP®    

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A concern to advisors is the role that clients can play in undermining our collective ability to build their wealth. Why would someone purposely undermine our ability to make them money? Morningstar reports that the average investor earns dramatically less than the stated track record of their mutual funds due to behaviors that may feel right at the time, but in the long run cost them money. Consider the following:

Investor number one may be suffering from what behavioral finance theorists call extrapolation bias-that is, using an overreliance on the past as a guide to the future. After a year like 2008, it is understandable that many investors are trying to do today what they wished that they had done in 2008-of course with 20-20 hindsight. This investor may be reading financial magazines and probably has come upon an article on TIPS-which are inflation insured Treasury bonds. The take is that inflation will be rearing its head in the future and the time to buy insurance is now, when the cost of it is cheap. Five year TIPS bonds are yielding 1% and perform well in an inflationary environment. Right now inflation is -1.4%. The rational thing would be to put the money where it is most productive. Year to date the market is up 9.5%, emerging markets are up 44% and foreign markets are up 14%. So why would an investor pass up these kinds of equity returns in pursuit of a 1% yield? Extrapolation bias can prevent even smart people from achieving their wealth potential.

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Career Services  

With a growing physician shortage, with healthcare reform swelling the ranks of patients, with rising malpractice premiums, shrinking revenues and growing government regulation, it has never been more important that a physician or nursing professional make the right choice when considering a career change.

MD Preferred offers the only medical job board with top tier job listings and access to award winning, doctor friendly professionals in: Real Estate/Relocation, Mortgage Services, Private Banking Services, Legal Services, Accounting Services and Financial Planning.

Medical professionals requiring discrete professional representation during their job search can call 800-260-8366 to speak with a personal search associate. 

MD Preferred/Medical Match Job Board

By Anthony Williams, ChFC, RFC, CLU

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Some ten plus years ago, we were asked to define our practice in one sentence. What is it we do? We help doctors and their families grow their net wealth in a tax-efficient manner while minimizing exposure to litigation. Plainly stated, the goal is to help clients grow and protect wealth while eschewing the risks doctors face. Let's discuss the three greatest of these risks in more detail.

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Would You Like a Few Extra Bucks in Your Pocket? 

By Ara Oghoorian, CFA  

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Have you ever found money in the pocket of an old pair of jeans, or your lab coat, that you had completely forgotten about? It's always a nice feeling to find "lost" money, but there is a much bigger pocket full of money that you may be overlooking - your state's unclaimed property list. Chances are that over the course of your medical education and training, you have lived in a few different cities and states. You diligently closed your accounts - telephone, cable, utilities, maybe even a bank account. But maybe there was some seemingly insignificant account you overlooked...Anytime a company owes you money and cannot contact you for whatever reason, the company cannot legally keep your money and is required to turn it over to the state as unclaimed (also known as escheat). Laws vary by state, but the general rule is that companies must escheat assets inactive for 3 years. The most common types of property turned over to the state are earned interest on a closed savings account, rebate or refund check, dividends, stocks, and bonds; real estate and unused gift certificates are usually excluded. According to their websites, the State of California is currently in possession of more than $5.7 billion in unclaimed property belonging to approximately 11.6 million individuals and organizations; New York has $10.5 billion, and Texas has $2.2 billion. The good news is that it is easy to find and collect your money...

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A captive insurance company is an insurance company owned by the insured. The practice started in the 1950s as certain industries either couldn't find insurance or could only find insurance at incredibly expensive rates. As such, the only way these companies could mitigate their risk was through a captive program.

Who should form a captive? Any company with an above average risk profile should consider forming a captive. Some of the companies that regularly form captives are oil and gas concerns, transportation companies, property owners, construction companies, manufacturers, professionals with malpractice insurance and hospitals.

Are there any revenue requirements? At minimum, a company should have income of at least $1 million and insurance premiums of at least $300,000. However, when looking at the insurance premiums number, note that most businesses are underinsured - in some cases vastly so.

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