Enriching Wealth

Right now, the Rate of Change is telling us that the first half of the year won't be as good as the second half of the year.  So while we expect growth in the economy, it won't happen all at once.  

And to make things more confusing, all this growth depends on a lot of assumptions about variants, spending, hiring, inflation, and more. We'll see just how rosy those assumptions are as the year progresses.

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DISCLAIMER
**The commentary presented herein contains the opinions of Lions Wealth Management, Inc., a State of Minnesota Registered Investment Advisor.   This information should not be relied upon for tax purposes and is based upon sources believed to be reliable. No guarantee is made to the completeness or accuracy of this information.  Lions Wealth Management, Inc. shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, the information, data, analyses or opinions contained herein or their use, which do not constitute investment advice, are provided as of the date of posting, are provided solely for informational purposes, and therefore are not an offer to buy or sell a security. Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. This information has not been tailored to suit any individual.

Peter Theil used simple strategies to great a multibillion dollar Roth IRA.  You can do the same following these techniques.

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DISCLAIMER
**The commentary presented herein contains the opinions of Lions Wealth Management, Inc., a State of Minnesota Registered Investment Advisor.   This information should not be relied upon for tax purposes and is based upon sources believed to be reliable. No guarantee is made to the completeness or accuracy of this information.  Lions Wealth Management, Inc. shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, the information, data, analyses or opinions contained herein or their use, which do not constitute investment advice, are provided as of the date of posting, are provided solely for informational purposes, and therefore are not an offer to buy or sell a security. Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. This information has not been tailored to suit any individual.

Business owners are unique.  Social Security is not a one size fits all.  What will work for you?  Nathan Krampe will dive into claiming Social Security for the business owner.

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DISCLAIMER
**The commentary presented herein contains the opinions of Lions Wealth Management, Inc., a State of Minnesota Registered Investment Advisor.   This information should not be relied upon for tax purposes and is based upon sources believed to be reliable. No guarantee is made to the completeness or accuracy of this information.  Lions Wealth Management, Inc. shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, the information, data, analyses or opinions contained herein or their use, which do not constitute investment advice, are provided as of the date of posting, are provided solely for informational purposes, and therefore are not an offer to buy or sell a security. Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. This information has not been tailored to suit any individual.

If passed, the 'Secure Act 2.0' would significantly alter the retirement landscape. - Forbes

The SECURE Act made sweeping changes to stretch IRAs and retirement plans.  The SECURE Act 2.0 would be just as impactful on required minimum distributions, taxes, catch-up contributions, as well as company 401(k)s.

These changes most certainly can benefit your business if you know where to turn.

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Record spending is going to bring about new taxes.  Remember, great planning doesn't just look at what you earn or how much your assets grew, it takes into account how much you keep!

In this episode are a couple strategies to legally avoid taxes on certain portions of your assets, but more so,  discusses the need for tax planning!

Passed by Congress in December 2019, the “Setting Every Community Up For Retirement Enhancement (SECURE) Act” introduced substantial updates to long-standing retirement account rules. 

One of the most notable changes was the removal of the ‘stretch’ provision for certain non-spouse designated beneficiaries of inherited retirement accounts and the introduction of a “10-Year Rule” requiring those beneficiaries to deplete the entire balance of their inherited retirement account within ten years after the original owner’s death.

What should you do next?

With the potential for tax increases looming in the future, tax mitigation activities take on increased importance.

What are proving more valuable and consequently more appealing to business owners are defined benefit plans.

The benefit-focused plan enables key employees, principals and their families to benefit most from the invested money in the plan.

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If you want to do great things you need to have a great wealth plan. Understand more by subbing and watching. https://www.youtube.com/channel/UCOwL241RxHnGUlSITwZ0rog?sub_confirmation=1

¿ COMMON QUESTIONS ¿
• How do I contact the Lion's Wealth team?  https://lionswealth.com/contact/

ツ CONNECT WITH ME ツ
You m connect with me on different social platforms as well as our website:
• LinkedIn: https://www.linkedin.com/company/lions-wealth-management/
• Twitter: https://twitter.com/lionswealthmgmt
• Facebook: https://www.facebook.com/lionswealthmgmt
• Website: https://lionswealth.com
• Email: [email protected]

How does a SEP work?

Jed works for the Rambling RV Company. Rambling RV decides to establish a SEP for its employees. Rambling RV has chosen a SEP because the RV industry is cyclical in nature, with good times and down times. In good years, Rambling RV can make larger contributions for its employees and in down times it can reduce the amount. Rambling RV’s contribution rate (whether large or small) must be uniform for all employees. The financial institution that Rambling RV has chosen for its SEP has several investment funds from which to choose. Jed decides to divide the contribution to his SEP-IRA among three of the available funds. Jed, an employee, cannot contribute because SEPs only permit employer contributions.

Pros and Cons:

• Easy to set up and operate
• Low administrative costs
• Flexible annual contributions – good plan if cash flow is an issue
• Employer must contribute equally for all eligible employees

Who Contributes: Employer contributions only

Contribution Limits: Total contributions to each employee’s SEP-IRA are limited.

Filing Requirements: An employer generally has no filing requirements.

Participant Loans: Not permitted. The assets may not be used as collateral.

In-Service Withdrawals: Yes, but includible in income and subject to a 10% additional tax if under age 59 1/2.

Learn More:

email us at [email protected] for more information!

WHAT TO EXPECT IN THE YEAR AHEAD?

2020 is history. In the past twelve months we have seen more significant, world-changing developments than anyone could have imagined.

The start of 2021 promises to be eventful, as the U.S. prepares for a presidential transition amid the ongoing battle with COVID-19. Many investors are wondering if the new year will be challenged by more uncertainty and volatility stemming from the effects of the pandemic. Others wonder about the future direction of policy with a new presidential administration and the potential implications for the U.S. economy.

Join us as Lion's Wealth Management's founder Nathan Krampe, CFP® wraps up 2020 and explain his market outlook for 2021.

KEY HIGHLIGHTS

♦  The business cycle, liquidity, valuations, and other factors likely to influence asset prices.

♦  What the Georgia Senate runoffs and the presidential transition could mean for the economy.

♦  How monetary policy, the economic reopening, and inflation could affect the outlook for markets in 2021.