Permanent Value

Client Success Stories

Bruce Doole
March 15th, 2010

Every quarter we write to you and give our perspective on what is happening in the market and in the broader economy.  This month we wanted to share some success stories from clients and colleagues to show what is possible with the right advice and planning.

Financial (In)Dependence…?

A financially independent client came to us to ask if we could help a friend (we encourage clients to enlist us to help not only their friends but especially their adult children) who had a number of serious but solvable financial problems.  She had no job, poor credit, huge monthly minimum payments on her credit cards, and only a couple hundred dollars in the bank (I know, that sounds like most of this country).  Not knowing what she was spending was also a leading factor in the problems she was incurring.  She had sold her house to join forces and move to a bigger house with one of her children but they had told her she couldn’t be on the title because of her credit.  They were taking advantage of her weakened financial situation and were making life very difficult for her.  Her objective was to buy a condo and be able to live on her own. Within twelve months, we had uncovered a six-figure hidden asset and converted it to cash, used it for a down payment on a new home, and and made it possible for her to find a well-paying salaried job, start contributing to her 401k, and ultimately have a much better relationship with her children and grandchildren.

Turbo Charge Your Retirement Fund

Finally, we helped another successful client build a large retirement fund in only four years that will be able to provide significant retirement income in the years ahead.  Most people think of retirement accounts like IRAs and 401ks that have strict limits on tax deductible contributions as well as income limitations to even contribute to them.  If you are self-employed, over 50, and have an income that significantly exceeds your expenses, even if it is only for a relatively short time we can help set up a retirement plan that can save you tens of thousands of dollars in taxes and ultimately be rolled over into an IRA to provide a sizable retirement income for your future.  All told we probably saved this client over $200,000 in taxes over four years which went straight into their retirement account.