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800.755.0313

The Lockdown Ends – What Now?

 

The Colorado economy was booming until the lockdown in March.  Many of you were generating unprecedented revenues and adding employees.  Unemployment fell so low that we ended up with a labor shortage and wages began to rise.  Then the party ended.  How will we respond?

 

Every surviving business will have to find an answer.  As the business transition specialist at the Cambridge Group my mission has been to help business owners create plans that enable them to get full value for their businesses when they retire or if they die early.  Executing the plan often requires significant new investment into a variety of possible solutions.  These might include funding of buy-sell agreements or adding employee benefits that will incentivize key employees who are identified as future candidates to purchase the business.  Sometimes new procedures are needed to reduce dependence on the owner for the profitability of the enterprise.  The vast majority of business owners feel like they can wait till later to do a transition plan in the best of times.  Businesses who are fighting to survive or, at a minimum, regrouping to recover lost revenues, are unlikely to commit to additional outlays for a process that most have been putting off till later in the first place.

 

OUR RESPONSE

 

So, we will respond by broadening our service proposition.  The stock market crash may have devastated your retirement plan, but it will recover along with the economy.  The crash should be a warning though that total dependence on conventional investments is a risk to your retirement security.  By investing a portion of your plan in a Qualified Longevity Annuity Contract (QLAC) you can guarantee that you will never run out of retirement income.  When things are as uncertain as they are now it is the perfect time to talk about guarantees.  We can help you with an analysis that will lead to the best solution.

 

YOUR HEIRS MAY HAVE JUST GOTTEN A HUGE TAX INCREASE

 

A new law called The Secure Act became effective on January 1st.  It greatly accelerates the timing of taxes your heirs must pay on your retirement plan.  Your children are likely to be in their highest income earning years when they inherit your plan and could be forced to pay taxes at the highest tax bracket; currently 37%.  You worked hard to save and invest, enjoyed a satisfying retirement, and then your children are forced to send 37 cents of every dollar of your remaining hard earned money to the government.   We can show you a variety of ways to offset the impact of this massive tax grab including how your heirs can pay with pennies on the dollar.

 

ARE YOU DELAYING YOUR PLANNED CHARITABLE GIFT?

 

You may have been contemplating a significant gift to your favorite charity.  Will it never materialize because of the economic devastation we are experiencing?  Let us show you how to make that gift on the installment plan.  A gift of a life insurance policy is tax deductible, provides the charity with an increasing cash fund they can access for immediate needs and fully consummates a major gift at the time of your death.  I have 35 years of experience working with non-profits and am the co-founder of the Longmont Community Foundation.  It is doing wonders for the Longmont Community.  You can be a big force for good in your community too.  There are a variety of other charitable concepts we can discuss as well.  None need create a current outlay of cash.

 

This is only a partial list of ideas that can help you meet your business and personal objectives despite the hard times.  When we call on you give us thirty minutes of your time.  We will identify the financial strategies best suited to meet your goals and objectives without a big impact on your budget.

 

 

 

Our Locations

 Colorado Office

Colorado Office

695 S Colorado Blvd, Suite 480
Denver, CO 80246
Main office: 303-816-3360
Toll free: 800-755-0313
Fax: 303-722-7281

Office Hours:

Mon: 8:00 AM - 5:00 PM
Tues: 8:00 AM - 5:00 PM
Wed: 8:00 AM - 5:00 PM
Thurs: 8:00 AM - 5:00 PM
Fri: 8:00 AM - 4:00 PM
Sat: By Appointment
Sun: Closed
Arizona Office

Arizona Office

2818 N. Country Club Road
Tucson, AZ 85716
Main office: 520-979-3285
Toll free: 800-755-0313
Fax: 520-918-3031

Office Hours:

Mon: 8:00 AM - 5:00 PM
Tues: 8:00 AM - 5:00 PM
Wed: 8:00 AM - 5:00 PM
Thurs: 8:00 AM - 5:00 PM
Fri: 8:00 AM - 4:00 PM
Sat: By Appointment
Sun: Closed

Our Providers

Testimonials

Accommodating, professional, helpful, and quick. Very comfortable experience and I was impressed by their capabilities. Highly recommended.
- Brad M.
I feel lucky to have found an agent willing to provide this level of service. No need to look anywhere else!
- Michelle D.
Over the years we’ve never once had to worry about our coverage. My husband and I are long-time customers and proud to be.
- Carol S.
Surprisingly flexible and in-touch with my needs as a small business owner. Can’t ask for more.
- Spencer F.
They have strong ties with the community, and it shows. It’s nice to do business with people that really show they care about you and your family.
- Susan T.