to you by:
|McCormick Klessig & Associates
|About Our Firm:
McCormick-Klessig & Assoc., Ltd. provides individuals, families, small and medium sized businesses with complete coverage of personal and business risks in all product lines: Commercial Personal Life Accidental and Health ( including group products).
|QUOTES from the
think the one lesson I have learned is that there is no substitute for
paying attention." -- Diane
should quietly hear both sides." -- Johann
Wolfgang von Goethe
human body has two ears and one mouth. To be good at persuading or
you must learn to use those natural devices in proportion. Listen twice
as much as you talk and you'll succeed in persuading others nearly
time." -– Tom Hopkins
whether in the family, in business, in government, or in education,
not allow themselves to mistake intentions for accomplishments." -- Jim
is not for wimps." – Doug
three "C's" of leadership are Consideration, Caring, and
Be polite to everyone." -– Brian Tracy
leaders forever need bigger and more irresistible challenges." -–
Retirement Plans Tend to Discriminate
The restrictions placed on
qualified retirement plans strictly limit the size of the benefits
can be accrued for highly-compensated employees. When
to the benefits provided to lower-paid employees, these limitations can
produce a "reverse discrimination"
effect that results in qualified retirement plans replacing an
percentage of an owner's or key employee's pre-retirement income.
Discrimination in Action...
- The benefits
from or contributions
to each type of qualified retirement plan are limited or "capped."
that can be considered in applying these benefit or contribution
is capped at $245,000 in 2010 (as adjusted for inflation).
There is, however,
a solution to the inadequacy of
retirement plan benefits for owners and key employees...a selective
executive benefit plan can be used to counter the "reverse
effects of a qualified retirement plan!
INDEPENDENCE by Tom Hopkins
you worry about money? I'd bet that at least 90% of people worry
about money. It's a common occurrence. Today people
about money, mismanage money, families are divided, divorces occur, and
trouble runs amok. Some people believe having money is bad and
it only leads you to trouble. I disagree with that. Failure
to handle money properly may lead you to trouble, and money doesn't
make you happy, but it does give you the freedom and opportunity to
out what will make you happy.
plays a powerful role in our lives today. It influences our
with our spouse, children and others we associate with. It
our involvement in various activities. And it has an affect on
level of stress we experience as well as how we communicate with
We need to get disciplined and learn how to handle this necessary
well in our lifetime. Controlling our finances is a simple
just hard to do! It takes a lot of discipline to sit down with
the paperwork and summarize it all in one place so you can see where
stand financially. However if you don't, years may go by and as
approach your golden years and start checking into your financial
you'll wonder where all your money went. Don't procrastinate on
where does all the money go? A lot of people find themselves
that question. It's not hard to answer it. We can find out
simply by keeping track of our personal cash outlay for one full
What was our lunch expenditure each day? What product or services
are we committed to right now that we don't really need? Getting
your finances organized may take the assistance of a financial
That's okay, but make sure to remain in control and understand the
that is given. Don't waste your time, money and effort on
that sounds too good to be true--because if it does, it probably is!
does one define financial independence? My definition is: Living
comfortably off the annual income generated by your net worth at a
date in time. With this definition, the amount of your
security is up to you. It's the understanding of that amount of
that is consistent with all of us. To achieve your chosen level
financial security you must first determine what amount of money you
be comfortable with on a monthly basis and multiply that by 12 for the
annual amount. Assume an average interest rate of 10% and
this by your annual amount. Once you have reached this figure,
need to have a plan for acquiring it.
number one may sound rather trite, but it is true. The first
to building financial independence is that you must spend less than you
make. How many people really live within their means?
today's credit lines that are available, it is a small
Available cash makes you financially prepared. Do this by setting
up emergency savings accounts. Learning to live on less than you
make prepares you for those rainy days that inevitably come along and
number two I call, "Pay yourself first." To do this, I
you write a check to yourself every month first. Just like you
a check to the electric company and the phone company, I want you to
a check to yourself.
don't want to add to your e-mail clutter! If you do not enjoy
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of this newsletter
is to provide information of general interest to our clients, potential
clients and other professionals. The information provided is
in nature and should not be considered complete information on any
or concept described. For more complete information, please
my office at the phone number above.
Quest Capital Stratagies
25231 Paseo de Alicia, Suite 110
Laguana Hills, CA 92653-4615
Member FINRA and SIPC FINRA is located at www.finra.org.
SIPC is located at www.sipc.org.