WEALTH PLANNER FOR CEO'S & BUSINESS OWNERS |
Financial Services - Tampa, Florida, United States
WEALTH PLANNER FOR CEO'S & BUSINESS OWNERS | Employees
WEALTH PLANNER FOR CEO'S & BUSINESS OWNERS | Details
➤ 𝗖𝗮𝘀𝗲 𝗦𝘁𝘂𝗱𝘆: CEO high earner is concerned about high-income federal taxes, capital gain taxes, & taxable dividend income tax. Retiring in 5 years and concerned about the volatility of his investment portfolio. Because of the high-profile position as a CEO concerned about asset protection.➤𝗢𝘂𝗿 𝗥𝗲𝗰𝗼𝗺𝗺𝗲𝗻𝗱𝗲𝗱 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆:• Review non-qualified investment accounts & identified areas of tax efficiency improvement.• Review qualified tax-deferred accounts to maximize contributions to reduce taxable income & save for retirement.• Recommended establishing Non-Qualified retirement plans to supplement Qualified retirement plans to further reduce taxable income.• Reviewed the client's asset allocation to ensure they were not taking on more risk than they need to retire successfully.• Reviewed all financial assets and recommended strategies to maximize creditor protection.➤𝗢𝘂𝘁𝗰𝗼𝗺𝗲𝘀 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗰𝗹𝗶𝗲𝗻𝘁:• Reduced dividend and capital gains taxes of non-qualified accounts by using passive index funds instead of actively managed mutual funds.• Transitioned Fixed Income Portfolio from Taxable Bond Funds to Tax-Free Municipal Bond funds.• Recommended maximizing their 401(k) to reduce taxable income & save for retirement.• Established a Corporate Non-Qualified Deferred Compensation Plan to allow the CEO to defera larger portion of their compensation and to defer taxes on the money until the deferral is paid.• Reallocated the clients' investment portfolio to include not only traditional asset classes of stocks,bonds, & cash complemented with alternative asset classes of Real Estate, Commodities, Farmland, &Timber to manage risk and reduce volatility.• Implemented Asset/Credit protection strategies to include Umbrella Insurance, Long Term Careinsurance, Correct Titling of assets, Maximize the protection in Florida that annuities & cash value lifeinsurance provides, & the establishment of Irrevocable Trusts.
