About Douglas AndrewDouglas Andrew is a financial strategist and the creator of the Missed Fortune True Asset Optimization program. With over three decades of experience and an extensive knowledge of economics, estate and financial planning, and accounting, Douglas Andrew penned the successful book series Missed Fortune, Missed Fortune 101, Millionaire by Thirty, and Last Chance Millionaire. These books, along with his audio CDs and educational seminars are available online at www.missedfortune.com.
Missed Fortune specializes in helping clients safely accumulate wealth with high rates of return. Founder Douglas Andrew helps Missed Fortune clients earn high returns using an approach he calls the Laser method of wealth accumulation?one that offers liquidity, safety, and a high rate of return. He also helps clients maximize tax advantages in both transferring and withdrawing funds from existing assets.
When transferring money and accumulating funds, Douglas Andrew names three common scenarios:
- Taxed as earned. Douglas Andrew says that while this is the most popular choice for many people, it is also the worst way to save and invest.
- Taxed sooner or later. Sooner would be a Roth IRA or 401K. Later would be a traditional IRA or 401K. The ?later? option is for those wanting to defer the tax to a later date, when the taxpayer thinks he or she might be in a lower tax bracket, Douglas Andrew explains.
- Accumulate in an option that allows wealth to accumulate completely tax-free. With this option, the money can be accessed tax-free, says Douglas Andrew, and if the person dies, the money transfers tax-free.
However, as a financial specialist and tax strategist for 38 years, Missed Fortune?s Douglas Andrew has found one superior option that, under the current tax code, allows someone to accumulate wealth tax-free. When a person dies, the money not only transfers income tax-free under section 101(a) of the Internal Revenue Service tax code, but it increases significantly in value, according to Douglas Andrew.
This option is a maximum-funded life insurance contract. As Douglas Andrew outlines in the Missed Fortune educational materials and workshops, these insurance contracts must be structured to perform as a capital accumulation tool. However, according to Douglas Andrew, many financial advisors and even insurance agents aren?t aware of how to structure these contracts to perform this way.
In his Missed Fortune educational materials, Douglas Andrew talks about using compound interest to reduce the impact of tax on insurance contracts. Andrew cites Mayer Amschel Rothschild, named by Forbes magazine as the ?founding father of international business,? as stating that one of the secrets to real wealth is compound interest in a tax-free environment.
Many people know that a dollar doubling every period for twenty periods will grow to $1,047,000. However, Douglas Andrew points out that the dollar only does that in a tax-favored environment. If that dollar were to double to two dollars, says Douglas Andrew, and a taxpayer had to pay tax on it of twenty-five percent, the gain would be reduced to $1.75 instead of double. It continues to decrease the gain each time a dollar grows, Douglas Andrew continues, and at the end of the twenty periods, instead of having $1 million, the total investment would amount to only $72,000. You could have saved more than a million, Douglas Andrew points out, and only $72,000 would remain after taxes.
Accordingly, Douglas Andrew and the team at Missed Fortune stress the benefits of putting money in an account that provides tax-fee growth and withdrawal. For more information, visit Missed Fortune online at www.missedfortune.com
Source: http://zrylw.com/douglas-andrew/
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