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402: Investing with Benefits: Real Stories from Wealth Formula Nation

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As the end of the year approaches, many of us are thinking about ways to mitigate our tax liability for 2023. Unfortunately, this year there is not a whole lot in terms of options.

The IRS has clamped down on syndicated conservation easements and anything resembling it. If you are being talked into something like that, I would suggest you be very careful. Anyone selling them at this point is not looking out for your welfare.

Similarly, although captive insurance is a legal right of every American, the IRS has made it its mission to audit them. It’s almost as if the IRS has become a branch of government that ignores the legislative process completely.

So what can we rely on? Oil and gas? No thank you. I’ve never made money in oil and gas and would have been better off just giving my money to charity. The space is also ripe for charlatans.

At this point, you are pretty much left with investments that will give you some depreciation and that only helps you if you have passive income to offset.

Real Estate opportunities have been far and few between. We have had one in 18 months and that is currently on waitlist. If you are an accredited investor feel free to check out that webinar at JoffreyCapital.com. You might get lucky and get in.

For the last couple of years, we have been doing ATM machines through the WF Velocity ATM fund. However, because of on-going due diligence issues, I can’t give a green light on that as of now either.

So, what’s left? Well, prepaying things for next year is not a bad idea. I used to prepay advertising for my now defunct cosmetic surgery office. If you are into deferred accounts that will give you some relief as well.

There is one more option and that is simply to invest your money without significant tax benefits. Sometimes, as much as it pains me to say this, paying the tax is the right thing to do.

After all, you can safely invest in a fair amount of stuff right now that is yielding pretty well. It’s just not tax efficient. For example, you can put your money in CD’s and get over 5 percent.

Or, like me, you focus on life insurance products like Wealth Formula Banking or the Wealth Accelerator (hyperlinks to WFB site).

There are many advantages to these kinds of policies that have been characterized as “investing with benefits”. The benefits are often significant and under-appreciated as I have tried to point out on numerous occasions.

But don’t take it from me, take it from others who are doing the same thing and see if there is a line of reasoning resonates with you. 

These types of policies should probably be apart of every portfolio in my opinion. And in this week’s Wealth Formula Podcast you’ll hear why—not only from me but from other Wealth Formula community members.

Show Notes:

00:07:06:15 What is Wealth Formula Banking?

00:13:19:07 What are the reasons why investors have chosen Wealth Formula Banking?

00:21:57:20 How have investors been using Wealth Formula Banking?

00:30:30:19 Amplifying your retirement strategy

00:47:57:06 The Wealth Accelerator

00:57:10:22 Advices from fellow investors