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Patrick Anderson, President of Unifirst Financial & Tax Consultants, Interviewed on the Influential Entrepreneurs Podcast

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Patrick Anderson, President of Unifirst Financial & Tax Consultants, Interviewed on the Influential Entrepreneurs Podcast

Published on December 22, 2022

Patrick Anderson discusses how tax planning impacts retirement income planning.

Listen to the interview on the Business Innovators Radio Network: 

https://businessinnovatorsradio.com/interview-with-patrick-anderson-president-of-unifirst-financial-tax-consultants/

Patrick explained: “When it comes to tax planning for retirement income, one of the most important factors to consider is how taxes will impact the overall retirement plan. Taxes can significantly affect the amount of money someone has available for retirement and how long those funds will last. Depending on the type of investments a person makes, and when they start withdrawing from them, taxes could significantly reduce the overall net worth. It’s important to understand how different investment types are taxed when they should be, and which ones offer beneficial tax treatments so people can maximize their retirement savings while minimizing taxes.”

As someone plans for retirement, it’s essential to consider the tax implications of all their investment and withdrawal strategies. A qualified financial advisor can help understand the tax implications of various retirement options and develop a comprehensive strategy that helps minimize taxes in retirement while helping people reach their goals. Additionally, strategic decisions on when to take Social Security benefits or withdraw money from 401(k) plans can help minimize the tax burden in retirement.

In summary, when it comes to tax planning and retirement income, careful consideration must be given so that taxes do not reduce the overall net worth or consume more funds than necessary. Working with a financial professional can help ensure that a person takes advantage of any beneficial tax treatments available and creates a customized plan that meets their individual needs. Ultimately, this will enable people to maximize their savings and keep taxes in check as much as possible throughout their retirement plan.

By following these strategies, people can be sure they’re in the best possible position for a comfortable and secure retirement.

About Patrick Anderson

Patrick has more than fifteen years of strategic experience in the financial, insurance, and the tax industry.

As a Licensed Financial Strategist & Retirement Specialist, he engages in Tax-Free Financial Planning, serving the needs of American Families.

A Registered Tax Professional with the IRS, he pursued licensure in the Financial & Insurance field. Many of his clients belong to the Asian-American Communities where he came from. He made it his advocacy to be a financial educator to them as well as a resource specialist to the general public. This led him to establish the COFFEE Group, a non-profit organization, which stands for Creating Opportunities For Financial Education Empowerment. He carries a bachelor’s degree in General Education & Military Science from Asia’s premier defense institute and Certificate of Graduation in US Taxation. He has earned his designation as Certified Financial Education Professional as well as Certified College Plan Advisor. Annually, he gains Continuing Professional Education credits from various financial institutions to keep his clients updated on their taxes.

Serving affluent families and high-net-worth business owners, he partnered with Redwood Tax Specialists (RTS) Group. RTS is a national elite team of professional experts composed of CPAs, Tax & ERISA Attorneys, Certified Financial Planners, Qualified Pension Administrators, Chartered Financial Consultants & Life Underwriters, Actuaries & Third-Party Administrators. Together, they provide an excellent way of significantly reducing taxes, building a retirement income for life, and creating a legacy for the next generations.

Learn More: https://unifirstfinancialandtax.com/

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Christian Care Ministry Announces Partnership with AACC for Nation’s First Faith-Based Mental Health Network

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Christian Care Ministry Announces Partnership with AACC for Nation’s First Faith-Based Mental Health Network

Published on September 20, 2023

Christian Care Ministry the operators of the Medi-Share program links arms with leading association of Christian counselors to address mental health crisis

NASHVILLE, Sept, 2023 — Christian Care Ministry (CCM), the operator of Medi-Share, the nation’s leading healthcare sharing community, has partnered with the American Association of Christian Counselors (AACC) to create the world’s first faith-based mental health and wellness network. 

Taking the stage at the 2023 AACC Know Hope World Conference last week in Nashville, CCM President and Chief Executive Officer Brandon Harvath delivered a heartfelt and biblically based appeal to more than 7,000 leaders in the mental health field. He was joined by AACC President Dr. Tim Clinton to announce a new initiative to strengthen and equip the Church in addressing the ongoing mental health crisis. 

Featured in image: Brandon Harvath, President/CEO, Christian Care Ministry (left) and Dr. Tim Clinton, President of AACC (right) 

“Together, we want to empower a network of counselors, coaches and helpers who are clinically distinguished and distinctly Christ-centered to reclaim the biblical mandate to care and provide for our brothers and sisters in Christ by connecting needs to resources,” said Harvath.  

As the mental health crisis has escalated in recent years, mental health professionals are sounding the alarm. Recent studies have shown that young people, especially teens, along with pastors and healthcare workers, are experiencing increased levels of depression, anxiety and suicidal ideation. 

“As two organizations deeply rooted in faith and compassion, our partnership with CCM signifies a pivotal moment in mental health care,” stated Ben Allison, CEO of AACC. “We are merging our strengths to address the pressing needs of our community and ensuring that care and guidance are provided with a Christ-centered approach. In this united effort, we reaffirm our commitment to bring light, hope, and healing to those facing mental health challenges.” 

Many people find safety and comfort in their local church, often seeking out a faith leader before they engage with a mental health professional. If sufficiently equipped, the Church can play an essential role in addressing the crisis by providing people with a safe and supportive community, education and mental health resources to restore their hope. Yet, pastors everywhere are collapsing under the weight of the needs of their congregations, dropping out of ministry at an alarming rate, and suffering from the burdens of depression, divorce and discouragement. 

“When pastors are suffering, you know that the church is suffering,” said Harvath. “Pastors need help, their families need help and the church needs help. The enemy would love nothing more than to muzzle the Church when in fact we must rise up and be heard, to be the salt, truth and light that all mankind desperately needs.  

“It’s time for us to join together and create the nation’s first faith-based mental health network, with one voice, worthy of being called Christian. It is CCM’s privilege and honor to come alongside AACC to address the mental health crisis in a practical, biblical manner, just as the members of the first church did in the book of Acts.” 

The initiative will officially launch in the Spring of 2024. To sign up and receive more information, visit https://www.medishare.com/cfn/aacc.  

About Christian Care Ministry 

Christian Care Ministry (CCM), a not-for-profit 501(c)(3) association of churches, based in Melbourne, FL, operates the Medi-Share program, a Christian healthcare sharing organization that provides an affordable alternative to health insurance for faith-based consumers. Now in its 30th year of sharing, Medi-Share serves nearly 400,000 members across America and has earned accreditation from the Independent Healthcare Sharing Accreditation Board. To date, more than $7 billion dollars in medical bills have been shared and discounted. 

About the American Association of Christian Counselors 

The American Association of Christian Counselors (AACC) is the largest and most diverse Christian Counseling association in the world. The AACC’s mission is to equip the entire community of care, including licensed professionals, pastors, and lay caregivers, with biblical truth and psychosocial insights so they can minister to hurting persons and help them move to personal wholeness, interpersonal competence, and mental stability. The AACC accomplishes this mission through its widely attended events, its educational programs, and materials available via Light University and the AACC’s publications. 
 

Media Contact: 

Brooke McGriff
A. Larry Ross Communications 

972-267-1111 

Brooke@alarryross.com 

 

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Gary Scofield, Founder of Mansfield Financial Strategies, Interviewed on the Influential Entrepreneurs Podcast Discussing Life Insurance

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Gary Scofield, Founder of Mansfield Financial Strategies, Interviewed on the Influential Entrepreneurs Podcast Discussing Life Insurance

Published on September 20, 2023

Gary Scofield discusses the importance of life insurance for financial protection. 

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-gary-scofield-founder-mansfield-financial-strategies-discussing-life-insurance/

Long-term care policies offer a valuable feature known as accelerated death benefits. This feature allows policyholders to access the money they have paid in premiums before their death if they require long-term care or assisted living. However, if the policyholder does not end up needing these services, the money paid in premiums is essentially lost, similar to how automobile insurance or homeowner’s insurance works. It is important to note that this feature is different from traditional life insurance policies, where the benefit is only received by the heirs after the policyholder’s death. Permanent life insurance policies also provide the option of building cash value and equity, which can be utilized for various purposes. Overall, the accelerated death benefits feature adds flexibility and value to long-term care policies.

In the episode, Gary Scofield mentioned that permanent life insurance policies have the ability to accumulate cash value over time. This accumulation occurs when a portion of the premium is turned back into either cash value or dividends. He also states that the insurance policies issued now are different from those in the past, indicating that they have evolved to offer more benefits.

One of the purposes of this cash value is to provide accelerated death benefits. Policyholders can access the equity in their policy before death and use it for various purposes, including retirement planning. By taking out a policy loan at low-interest rates, individuals can supplement their retirement income with cash value. This allows them to activate an income-for-life benefit, which newer policies are offering.

Additionally, Gary Scofield mentions that whatever remains of the cash value at the time of death will still be received as a death benefit. This means that even if the cash value is used for retirement planning, the policyholder’s beneficiaries will still receive a death benefit.

Gary explained: “We take a personalized approach to help individuals by understanding their unique circumstances, goals, and concerns. As independent advisors, we have access to diverse products and solutions to create comprehensive plans that provide secure and predictable lifetime income. Our mission is to guide people towards a worry-free retirement, building lasting relationships along the way.”

 

About Gary Scofield

Gary is an accomplished financial advisor who has spent over four decades dedicated to guiding clients toward financial prosperity in retirement. With impressive credentials, including a lifetime membership in MDRT (Million Dollar Round Table), Gary’s expertise shines. His certifications as a Certified Senior Advisor (CSA) and Certified Long-Term Care (CLTC) specialist demonstrate his proficiency in navigating the complexities of senior financial planning and long-term care. Pursuing additional designations in ChFC and CLU, Gary remains at the forefront of industry knowledge.

He takes a personalized approach to helping individuals by understanding their unique circumstances, goals, and concerns. As an independent advisor, he has access to diverse products and solutions to create comprehensive plans that provide secure and predictable lifetime income. His mission is to guide people toward a worry-free retirement, building lasting relationships along the way.

Learn More:
https://mansfieldfs.com/

Recent news and interviews:

  • Gary Scofield discusses Annuities 101:

https://authoritypresswire.com/gary-scofield-founder-of-mansfield-financial-strategies-interviewed-on-the-influential-entrepreneurs-podcast-discussing-annuities/

  • Gary Scofield discussing Long-Term Care Insurance:

https://authoritypresswire.com/gary-scofield-founder-of-mansfield-financial-strategies-interviewed-on-the-influential-entrepreneurs-podcast-discussing-long-term-care-insurance/

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Ron Cook, Owner of Cook Tax & Retirement, Interviewed on the Influential Entrepreneurs Podcast Discussing How Taxes Impact Retirement

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Ron Cook, Owner of Cook Tax & Retirement, Interviewed on the Influential Entrepreneurs Podcast Discussing How Taxes Impact Retirement

Published on September 20, 2023

Ron Cook discusses the importance of tax planning in retirement. 

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-ron-cook-owner-of-cook-tax-retirement-discussing-how-taxes-impact-retirement/

Ron Cook highlights the importance of understanding and planning for taxes in retirement. He acknowledges that taxes are an inevitable part of life, just like death, and emphasizes their significant impact on retirement. Cook stresses the need for individuals to be aware of this impact and plan accordingly.

Cook distinguishes between tax prepping, or getting tax returns done, and tax planning. He believes that tax planning is essential for a successful retirement and urges individuals to have a comprehensive plan in place, rather than solely relying on their tax preparer. Many people dislike taxes without fully understanding why so he suggests that proper tax planning can help navigate the complexities of taxes in retirement.

The discussion also delves into how taxes can affect Social Security and Medicare. Cook mentions that some people’s Social Security benefits are taxed, often without their knowledge. He provides an example of someone who retired early and received Social Security benefits, but due to additional income, faced unexpected tax consequences. He also highlights how taxes can impact Medicare, sharing a story of someone who faced unforeseen tax consequences by not disclosing their full retirement plans.

Overall, the episode emphasizes the importance of understanding and planning for taxes in retirement. It encourages individuals to not only focus on getting their tax returns done but also engage in tax planning to ensure a successful retirement.

Ron shared: If people had enough timeframe because they’re in their 60s or maybe 55, and you had those five or 10 years before you were going to start taking Social Security or possibly retire, well, imagine being able to know ahead of time what those consequences are, imagine if you could have done some proper tax planning.”

Ron also expressed: “People that have the most fulfilling retirements are those that don’t have the concern of running out of money, avoid big market dips, and have a low tax bill.”

About Ron Cook

Ron began his career in the insurance and financial industry in 1988 and has included banking, mortgage origination, and retirement income planning.

Throughout his career, he has learned that if you help people address their concerns, you will have a gratifying business. Steering people toward a more stable and predictable retirement is his mission, as he continuously strives to provide better strategies to procure the greatest amount of income for his clients while preserving the integrity of accumulated assets.

Ron’s true passion is spending time with his wife and four children. He also enjoys golf and boating.

Learn More:
https://cooktaxandretirement.com/

Recent news and interviews:

  • Ron Cook Discussing Guaranteed Income:

https://authoritypresswire.com/ron-cook-owner-of-cook-tax-retirement-interviewed-on-the-influential-entrepreneurs-podcast-discussing-guaranteed-income/ 

  • Ron Cook Discussing Market Loss Protection:

https://authoritypresswire.com/ron-cook-owner-of-cook-tax-retirement-interviewed-on-the-influential-entrepreneurs-podcast-discussing-market-loss-protection/

Licensed Insurance Professional Respond and learn how insurance and annuities can positively impact your retirement. This material has been provided by a licensed insurance professional for informational and educational purposes only and is not endorsed or affiliated with the Social Security Administration or any government agency. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. 20578 – 2020/11/12

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