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Robert D. Cavanaugh, CLU

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Date Joined: January 18, 2007

Country: United States

 
 
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How To Sell Your Life Insurance Policy For More Than The Cash Value

Author: Robert D. Cavanaugh, CLU

Category: Finances

Most people do not know they can sell an insurance policy There are companies that will pay you more than the cash value Even term insurance, which has no cash value, is a candidate for purchase...

New Kid On The Block: Indexed Universal Life

Author: Robert D. Cavanaugh, CLU

Category: Finances

Whole life insurance has been around for over 150 years Universal life was introduced in the early 1980's Universal Life offered the ability to increase or decrease the premium and death benefit and credited the cash values each year with a current interest rate...

A Fund Raising Idea That Instantly Funds Any Special Project

Author: Robert D. Cavanaugh, CLU

Category: Finances

In the next few minutes, you are going to learn the steps to implement a fund raising idea that can raise significant cash within a very short time frame As opposed to simply asking donors to dig deeper into their pockets, this fund raising idea provides tax and increased income benefits to the donor If you are involved in any facet of nonprofit fund raising, you can use this technique, for example, to buy or pay off the church organ, add another kennel at the local animal shelter or add a room on to the private school...

Why An Individual Disability Insurance Policy Is Better Than Group LTD

Author: Robert D. Cavanaugh, CLU

Category: Finances

Millions of people are insured by group long term disability plans However, there are drawbacks to this coverage and situations where the policies will not pay Unfortunately, many group plans do not pay for the type of disability that is most likely to occur...

Roth 401(k) Plans: Could You Benefit?

Author: Robert D. Cavanaugh, CLU

Category: Finances

Roth 401(k) plans were legislated into existence by the Economic Growth and Tax Relief Reconciliation Act of 2001 However, they were not set to begin until 1/1/2006 and were given a life span which lasted only through 2010 The Pension Protection Act of 2006 permanently extended the use of Roth 401(k) plans...

Looking For Another Income Tax Deduction? You Might Qualify For An IRA And Not Know It

Author: Robert D. Cavanaugh, CLU

Category: Finances

An additional income tax deduction may be available by contributing to an IRA However, many people may not realize they qualify to have an IRA So let’s take a look at the contribution rules...

Rollovers To IRAs - Rules, Tips And Cautions

Author: Robert D. Cavanaugh, CLU

Category: Finances

Rollovers can be a confusing subject This is because rollovers can come from qualified plans, tax sheltered annuities, eligible Section 457 government plans and the five types of IRAs Here, I will focus on rollovers that come from qualified plans such as 401(k), pension and profit sharing plans...

Ten Things The Average Person Does Not Know About Annuities

Author: Robert D. Cavanaugh, CLU

Category: Finances

Deferred annuities possess characteristics found nowhere else They play an important part in seniors' portfolios Seniors hold billions of dollars in deferred annuities...

How To Increase Your Spendable Income If You Own A CD

Author: Robert D. Cavanaugh, CLU

Category: Finances

There are several ways to squeeze more income out of a given amount of capital invested in a CD Let me share with you the split annuity concept Here is an example typical of many people...

Five Uses For Survivorship Life Insurance

Author: Robert D. Cavanaugh, CLU

Category: Finances

Survivorship life insurance is a life insurance policy that insures two people and pays at the second death Also referred to as second-to-die life insurance, common abbreviations are SWL for survivor whole life and SUL for survivor universal life Advantages Since the insurance company does not have to pay until the second person dies, the premium is lower...

How To Increase Your Income, Lower Your Taxes And Help Your Favorite Charity

Author: Robert D. Cavanaugh, CLU

Category: Finances

Given the fact that most seniors are interested in a secure income, reducing risk and lowering taxes, here is a planning technique to consider if you are trying to increase your income Maybe you have a CD that is coming up for renewal and you discover the rate is going to be lower You could have some stocks or mutual funds that were invested for growth and are thinking about selling some off and re-investing in something that would pay you an income...

IRAs And Early Retirement

Author: Robert D. Cavanaugh, CLU

Category: Finances

Dual income families and megabucks 401(k) plans are common socio-economic trends that get today's Boomers thinking about early retirement If you elect to retire early and roll your 401(k) plan into an IRA, how can you best set up a withdrawal plan First, it depends on what kind of IRA you have...

Opportunity Cost And Your Long Term Care Decision

Author: Robert D. Cavanaugh, CLU

Category: Finances

If you are out shopping for long term care (commonly abbreviated as LTCI or LTC), I'm going to encourage you to take a look at a way of providing long term care benefits that is probably new to you On the other hand, if you are in the crowd that thinks they will never need long term care, I would also suggest you evaluate this line of thinking Dick and Jane are both age 65, recently retired and models of good health...

Who Should Be The Beneficiary Of Your IRA?

Author: Robert D. Cavanaugh, CLU

Category: Finances

You have a number of choices when it comes to selecting a beneficiary (or beneficiaries) for your IRA Some are appropriate Some are mistakes and can lead to delays and expenses in getting the funds to your desired recipients...

Home Sales: Do You Really Know The Tax Exclusion Rules?

Author: Robert D. Cavanaugh, CLU

Category: Real Estate

A single person can exclude up to $250,000 of the gain from the sale of their home and a married couple up to $500,000 However, there are qualifications, rules, exceptions to the rules and special situations This article outlines the major rules and clears up many misunderstandings...

Simplifying A Difficult Senior Planning Decision: The Family Home

Author: Robert D. Cavanaugh, CLU

Category: Finances

As Father Time marches on, the question of what to do with the home becomes a greater concern In some cases, ruminating on the alternatives can dominate one's thinking If a person is aware of the various options and chooses a path that makes the most sense, peace of mind can often be the result...

Roth IRAs: Test Your Knowledge

Author: Robert D. Cavanaugh, CLU

Category: Finances

How well do you know Roth IRAs Here are five tough questions Let's see how you do… 1 I am 72 years young and still working...

IRA Distribution Rules At Death: Critical Knowledge For Good Decisions

Author: Robert D. Cavanaugh, CLU

Category: Finances

The distribution rules required at the death of an IRA owner depend on several things: 1 Did the IRA owner die before or after the “required beginning date” 2...

How To Determine If Your Social Security Retirement Benefits Are Taxed

Author: Robert D. Cavanaugh, CLU

Category: Finances

Up to 85% of your Social Security retirement benefits may be taxable Here’s how to find out how much is taxable and what you can do to reduce or eliminate any tax Of all the financial issues surrounding being a senior, the one that tops the list in terms of anger is the fact that, depending on the situation, Social Security retirement benefits are taxable...

How To Supplement An Existing Long Term Care Policy Without Paying Premiums

Author: Robert D. Cavanaugh, CLU

Category: Finances

Quite a few people may find themselves in this situation… They had the foresight to buy a long term care policy 5-10 years ago My first comment is: good for them When you sit down and take a look at the premium for long term care at various ages, you quickly see that the younger you buy it the better...

How To Guarantee A Lifetime Of Long Term Care Benefits For Half The Cost

Author: Robert D. Cavanaugh, CLU

Category: Medical Business

Here’s how to make sure your long term care is taken care of for the rest of your life, guarantee that you will never run out of money and not disinherit your kids A tall order, you say Yes, but in certain situations all three of these can have a happy ending...

Five Excuses People Use For Not Buying Long Term Care And Why None Of Them Hold Water

Author: Robert D. Cavanaugh, CLU

Category: Medical Business

From my experience in working with seniors, here are the five most offered reasons why people have not purchased long term care In most cases, the reasons are not valid It’s not that they don’t make any sense; it is due to lack of information...

How To Make A Sizable Charitable Donation From Your IRA—Tax Free

Author: Robert D. Cavanaugh, CLU

Category: Finances

If you are over 70 ½ years old, want to make a gift for a special charitable project, but your only liquid asset is your IRA, I have good news for you On August 17, 2006 the Pension Protection Act of 2006 (PPA 2006) was signed into law This nearly 1,000 page piece of legislation marked the most sweeping changes to the pension arena in 30 years...

 
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