Douglas Andrew Changes How People Think About Growth Through Compound Interest

Douglas AndrewQ: Why is compound interest such an important element of a retirement savings plan?

Douglas Andrew: Albert Einstein once defined compound interest as the “eighth wonder of the world.” Financial professionals, such as Tax attorneys and CPAs who have gained a full grasp on what compound interest can accomplish have the information to influence their clients’ futures.

Q: What is the first marvel to accumulate wealth?
 
Douglas Andrew: Compound interest is often referred to as first marvel of wealth accumulation.

Q: What is the second marvel of wealth accumulation?
 
Douglas Andrew: The next marvel is called tax-favored accumulation. A dollar that doubles each period for 20 different periods will grow to more than a million dollars if it’s tax-free. If it’s taxed-as-earned for someone in the 25 percent tax bracket, it will be worth a mere $72,000. The amount is even less if you’re placed in a higher bracket. [Read more...]

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    Douglas Andrew Says Obstacles Are Merely a Stumbling Block Towards Opportunity

    Douglas AndrewQ: What is the most crucial element of overcoming challenges?
     
    Douglas Andrew: Being the kind of person that can pick out opportunities where others might only see flaws is key to success both professionally and personally.

    Q: How does an upbeat attitude like this affect an individual’s potential in life?

    Douglas Andrew: As Richard Rossi once said, where there’s anxiety there is also opportunity. The challenge for all people is to seize the moment and create their own masterwork despite the various obstacles strewn along their path. This type of charisma and determination is contagious. [Read more...]

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      Douglas Andrew on Pursuing Authentic Wealth After Economic Turmoil

      Douglas AndrewQ: What prompted the recent government shutdown?
       
      Douglas Andrew: The government shutdown of 2013 stemmed from a battle over a new resolution designed to increase the debt ceiling to an unheard of amount of $20 trillion. Each taxpayer would effectively bear responsibility by an extra $20,000 to $30,000 of the national debt.

      Q: How specifically does the American public experience the effects?
       
      Douglas Andrew: The ripple effect on some industries and businesses is considerable. As a whole, this country cannot afford to fund so many different entities. Despite the government’s inability to live within its means, the American people can still make a better future for themselves. [Read more...]

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        Douglas Andrew Discusses the Development and Funding of Max-Funded, Tax-Advantaged Insurance Contracts

        Douglas AndrewQ: What are some common misconceptions about insurance?

        Douglas Andrew: Most people purchase insurance exclusively for the “death benefit.” After the insured party dies, it covers needs such as estate preservation, income replacement and debt protection. When insurance is purchased with this idea in mind, people insure themselves for the maximum amount of death benefit while seeking the least expensive premium. “Death Benefit” is not the sole objective of a max-funded, tax-advantaged insurance contract.

        Q: How does this type of contract work?

        Douglas Andrew: A max-funded, tax-advantaged insurance contract is structured to have the least amount of death benefit and the maximum amount of cash. A Wealth Architect can help determine how much cash can be placed in the contract and the minimum amount of insurance required for IRS tax code compliance. The money within this contract can be available for tax-free loans and can grow tax-deferred. [Read more...]

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          Douglas Andrew Advises Not to Be a Follower with Your Finances

          Douglas Andrew is a highly respected speaker and businessman who has spoken extensively on the topic of personal finance. When it comes to becoming financially successful, Douglas Andrew has noticed one mistake many people make is being a follower.

          Douglas Andrew points to a series of studies in the ’50s called the Asch conformity experiments. In one experiment, televised on Candid Camera, a man stepped into an elevator full of people, all of whom were facing the wrong direction toward the back, Douglas Andrew explains. Instead of facing front as he normally would, Douglas Andrew relates that the man turned in the same direction as everyone in the elevator. In experiment after experiment, a video captured individuals turning in the same direction as the rest of the group, even when it wasn’t rational, Douglas Andrew states.

          This group pressure extends to financial decisions, Douglas Andrew has found. Instead of going against the group and trying something that makes sense, Douglas Andrew has discovered that many people simply follow the crowd. This crowd mentality has most Americans putting money into 401(k)s and IRAs, says Douglas Andrew. [Read more...]

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            Douglas Andrew on the History of Maximum Funded Life Insurance

            Douglas AndrewDouglas Andrew, author of the Missed Fortune series, puts his serious money in maximum funded tax-advantaged life insurance contracts. It’s a process he outlines in depth in the Missed Fortune books and videos. However, Douglas Andrew is quick to point out that this is an idea that has a long history of success, beginning with the 1980s, when E.F. Hutton approached the insurance companies with an idea.

            Hutton, relates Douglas Andrew, saw the insurance industry as a highly lucrative niche that was the backbone of the economy. Another plus to the life insurance industry, as E.F. Hutton saw it then and Douglas Andrew sees it now, is that the legal reserve requirements are significantly greater than those in the banking industry.

            According to Douglas Andrew, E.F. Hutton observed that under section 72(e) of the tax code, cash value grew tax deferred when tucked safely inside a life insurance policy. Douglas Andrew says E.F. Hutton also knew that under 7702 a person can access those gains via loans that were also untaxed. Then, explains Douglas Andrew, at death that money also transferred tax-free. [Read more...]

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              News on Douglas Andrew

              Missed Fortune Series from Douglas Andrew Addresses Predictable Rates of Return

              Salt Lake City, Utah, United States of America (Free-Press-Release.com) August 27, 2012 — Douglas Andrew, founder of Paramount Financial Services and creator of the popular Missed Fortune Asset Optimization program, announces that investors of the 2000-2010 decade have an alternative to traditional financial planning. Douglas Andrew offers the advice that this financial strategy comes in the form of indexing.

              Missed Fortune Series from Douglas Andrew Addresses Predictable Rates of Return

              Douglas Andrew, founder of Paramount Financial Services and creator of the popular Missed Fortune Asset Optimization program, announces that investors of the 2000-2010 decade have an alternative to traditional financial planning. Douglas Andrew offers the advice that this financial strategy comes in the form of indexing.

              Missed Fortune Series from Douglas Andrew Addresses Predictable Rates of Return

              Salt Lake City, Utah (I-Newswire) August 27, 2012 – Douglas Andrew, founder of Paramount Financial Services and creator of the popular Missed Fortune Asset Optimization program, announces that investors of the 2000-2010 decade have an alternative to traditional financial planning. Douglas Andrew offers the advice that this financial strategy comes in the form of indexing.

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