Learn the unvarnished truth about tried and true Wall Street practices and why stocks and bonds are
Table of Contents
Preface xi
Acknowledgments xiii
Introduction xvii
Chapter 1 Freeing Your Estate from Conventional Thinking 1
An Unconventional Approach 2
In Summary 3
Chapter 2 The Best Portfolios Are Mixtures of Many Different Asset Classes 5
The Real Meaning of Portfolio Diversification 6
In Summary 9
Chapter 3 The Key to Protecting and Building Wealth in Good Times and Bad 11
General Practitioner versus Specialist 11
In Summary 15
Chapter 4 The Process of Wealth 17
Wealth Bucket 101 19
Buy Assets to Pay For Liabilities! 21
Fortune 400 Secret 23
Brokerisms 25
In Summary 27
Chapter 5 Leaks in the Bucket 29
Not Following Common Sense 30
Limited Investment Diversification 31
Inflation 35
Investment Fees 42
Income, Income, Income 49
Taxes 51
Poor Estate Planning 55
Poor Asset Protection 57
Liquidity 59
Summary: Leaks in the Bucket 61
Chapter 6 True Asset Class Diversification 63
The General Asset Classes 63
20,000 Foot Viewpoint on Money 72
Liquidity Leak Reexamined 87
Chapter 7 Foundations for Your Financial Table 91
Matching Beliefs to Your Asset Choices 91
Time and Real Assets 93
Direct Participation Programs 94
Accreditation of Investors 96
Commissions and Fees 99
Prioritization and Placement of Portfolio Investments 101
In Summary 103
Chapter 8 Building a Strong Financial Table 105
Step One: Know Yourself 106
Step Two: Liquidity Time Lines 108
Step Three: Income Needs 113
Step Four: Growth Needs 120
Step Five: Beneficiary Needs 125
Putting Together a Financial Plan 127
In Summary 142
Chapter 9 Life Insurance, Annuities, and How They Relate to Your Wealth Code 143
General Need for Life Insurance—Family Liabilities 144
Federal Estate Taxes 146
Annuities 149
Index Universal Life and Index Fixed Annuities 150
MVA versus Non-MVA Annuities and Why You Need to Know This 152
In Summary 153
Conclusion: Time to Take Action! 155
Appendix A: Case Studies 159
Appendix B: Different Investment Asset Classes 185
Appendix C: Discounted Roth Conversions 243
Appendix D: 1031 Real Estate Exchanges 265
About the Author 275
Index 277
