SML Planning Minute
SML Planning Minute podcasts provide timely and thought-provoking financial ideas and concepts for individuals, families and business owners. Be sure to listen in! Simply click on a topic below to access a podcast. You can also subscribe to one of the many service providers to listen on the go.
Do You Really Know How Much Your Business is Worth? Why You Need a Business Valuation.
Episode 141 – Most business owners don’t know the true value of their company, but they need to, for a variety of reasons including business, estate and personal planning. See how your Security Mutual Life insurance advisor can help with the planning and the valuation. Continue Reading Do You Really Know How Much Your Business is Worth? Why You Need a Business Valuation.
The Advantage of Starting Early
Episode 140 – Saving money may seem like a low priority. But the results of not saving early or not saving enough can’t be reversed later on. More than anyone, millennials need to understand this simple lesson. Learn more in our latest podcast. Continue Reading The Advantage of Starting Early
The IRS Announces “Dirty Dozen” Tax Scams for 2021
Episode 139 – The IRS recently announced its annual “Dirty Dozen” tax scams for 2021, this time with special emphasis on pandemic-related tricks. Continue Reading The IRS Announces “Dirty Dozen” Tax Scams for 2021
The IRS Is Striving to Be More Taxpayer Friendly
Episode 138 – Did you know that the IRS has initiated several service improvements in recent years, all in an effort to be more taxpayer friendly? Learn more here. Continue Reading The IRS Is Striving to Be More Taxpayer Friendly
You Filed Your Income Tax Return – Now What?
Episode 137 – Have you ever wondered what happens to your Income Tax Return after you’ve filed it? Understanding the process can speed up your refund. Continue Reading You Filed Your Income Tax Return – Now What?
Life Insurance for Lifetime Needs and Estate Tax Liquidity Using a SLAT
Episode 136 – SLATs are one of the most popular estate-planning strategies to create liquidity to pay Estate Taxes through the use of Life Insurance, while still maintaining indirect access to the cash values during your lifetime. Continue Reading Life Insurance for Lifetime Needs and Estate Tax Liquidity Using a SLAT
IRS and Social Security Phone Scams
Episode 135 – We urge you to always be cautious and not provide sensitive information such as your Social Security number or bank account information to unknown individuals over the phone or internet. Never reveal personal data to a stranger who calls you. Continue Reading IRS and Social Security Phone Scams
The Two Ironies of Retirement Planning
Episode 134 – There are perhaps two great paradoxes about retirement that people don’t often recognize. The first is that in retirement, people live on income, not principal. The second is that for many people, their retirement fund is their favorite account while they are working, but their least favorite once they actually retire. Continue Reading The Two Ironies of Retirement Planning
Tax-Free Real Estate Exchanges
Episode 133 – Tax-free real estate exchanges have long been a favored technique used to defer capital gains taxes. How do they work, and are they still viable with tax changes coming? Continue Reading Tax-Free Real Estate Exchanges
Hidden Fees are Harming 401(k) Savings
Episode 132 – Hidden fees can have a serious long-term negative impact on a 401(k). And the problem is worse than most people realize. Continue Reading Hidden Fees are Harming 401(k) Savings
Know Your Net Worth
Episode 131 - Have you ever figured out your net worth? Do you even know how to do it? Sometimes just calculating your net worth can add discipline to your finances and may improve your financial future. In this episode, we’ll show you how to figure it...
The Micro(k)®: A “Next Level” Retirement Plan
Episode 130 – For businesses that employ only owners and their spouses, the Pension Protection Act of 2006 extended an unparalleled opportunity to save significant sums in a tax-favored retirement plan. Conventional wisdom of the past few decades was to use a Simplified Employee Pension (SEP). Now there is another choice that may be far better: The Micro(k)® Plan. Continue Reading The Micro(k)®: A “Next Level” Retirement Plan
How an HSA Can Help You Save for Retirement
Episode 129 – A Health Savings Account may be an excellent way to help supplement your retirement savings as long as you are enrolled in a high-deductible health insurance plan. Continue Reading How an HSA Can Help You Save for Retirement
Conscientious Objectors to Social Security
Episode 128 – The term conscientious objector can be applied to more than just military service. In fact, certain members of the clergy can object to, and thus opt out of, Social Security. Continue Reading Conscientious Objectors to Social Security
10 Common Mistakes Made with Life Insurance Beneficiary Designations, Part 2
Episode 127 – Mistakes are commonly made on life insurance policy beneficiary designations. Life events also necessitate changes, which is why regular reviews are important. Here are 5 more of the most common mistakes. Continue Reading 10 Common Mistakes Made with Life Insurance Beneficiary Designations, Part 2
10 Common Mistakes Made with Life Insurance Beneficiary Designations, Part 1
Episode 126 – Mistakes are commonly made on life insurance policy beneficiary designations. Life events also necessitate changes, which is why regular reviews are important. Here are 5 of the 10 most common mistakes. Continue Reading 10 Common Mistakes Made with Life Insurance Beneficiary Designations, Part 1
Holographic Wills and the Case of Larry King
Episode 125 – Do you know what a Holographic Will is? Here’s a hint: Larry King used one. But that doesn’t mean you should. Continue Reading Holographic Wills and the Case of Larry King
Don’t Forget About State Estate Taxes (Particularly in New York)
Episode 124 – You may not be wealthy enough to be subject to federal estate taxes upon your death, but your state may have other ideas. Continue Reading Don’t Forget About State Estate Taxes (Particularly in New York)
Estate Tax Liquidity, Wealth Replacement and ILITs
Episode 123 – Business owners and high-net-worth individuals subject to federal or state estate and inheritance taxes should look into life insurance in an irrevocable life insurance trust for estate tax liquidity and to replace wealth lost to taxes. Continue Reading Estate Tax Liquidity, Wealth Replacement and ILITs
Medicare Changes in 2021
Episode 122 – The Biden administration is just getting warmed up when it comes to Medicare. What are they planning? Continue Reading Medicare Changes in 2021
