Moving Past the COVID Chaos: Tips for Your Insurance, Finances, and Business - August 29, 2020

August 29, 2020
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News. Insights. Analysis. Inspiration.

 

Today's Key Question:

Do you know the best way to use a commercial loan to fund a life insurance policy? 

See the article below from JD Supra.

  

"Smart Home Companies Get Surprising Lift From Covid-19 Pandemic"

From Investors.com:

* People are reconnecting with their homes during the coronavirus pandemic, says Todd Pedersen, founder and chief executive of Vivint Smart Home (VVNT). Stuck working from home, they're increasingly looking to do home renovations and add "peace of mind" technologies, he told Investor's Business Daily. Those technologies include security cameras, video doorbells, smart locks, motion detectors and connected thermostats, lighting and garage door openers.

  

"A divorce could have a big impact on your retirement savings. Here are some steps to hedge your loses."

From USA Today:

* Divorce can affect your life in many ways. Unfortunately, one big way it could have an impact is by making it harder to retire.

Divorce can affect your retirement security because the process itself can be costly and you may drain your savings to pay for legal support. If you lose a portion of your retirement savings to your spouse or your household income goes down after divorce and you find it difficult to continue saving, that could also reduce the size of your nest egg.

But just how much can ending a marriage affect your later years? Data from the National Institute for Retirement Security (NIRS) reveals that the consequences can be dire if you don't act. 

  

"Here's Yet Another Graph That Shreds the COVID Lockdown Hysteria"

From Townhall:

* As Tom Elliott, founder of Grabien Media, commented on this graph, “am increasingly convinced COVID would already be over if we did the exact opposite of what politicians have been demanding.”

  

"THE SPLIT DOLLARMINATOR! Using Commercial Lending to “Juice” the Funding of Loan Method Split Dollar Arrangements"

From JD Supra:

* This article focuses on how a business can use a commercial loan to help finance a business’ obligation in a Loan Regime Split Dollar Arrangement and deduct the interest payments for its tax purposes, without running afoul of the limitations of IRC Sec. 264. The use of commercial lending provides an additional source of funding and leverage on an after-tax basis to provide funding for the purchase of life insurance policyholder using Loan Regime Split Dollar Arrangement.

 

Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here