Wealth Secrets of the Affluent : Keys to Fortune Building and Asset Protection
by Jarvis, Christopher R.; Mandell, David B.Format: Hardcover
Pub. Date: 2008-04-04
Publisher(s): Wiley
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Summary
Wealth Secrets of the Affluent reveals the ten "keys" to financial success that affluent families have used for decades. This is a must read for anyone who earns over $150,000 per year or any family that is worth over $2,000,000, as well as any advisor who makes a living assisting wealthy clients or would like to attract wealthy clients with more appropriate-and more effective-advice. There are specific strategies used to achieve unparalleled wealth, and this book puts them in perspective.
Author Biography
Christopher R. Jarvis, MBA, is a financial planner with experience as an actuary and entrepreneur. He is cofounder, with Mr. Mandell and Jason M. O'Dell, of O'Dell Jarvis Mandell, LLC, which is based in the cities of Austin, New York, Cincinnati, and Ft. Lauderdale, and has affiliate offices nationwide (www.ojmgroup.com).
David B. Mandell, JD, MBA, is an attorney and financial advisor to high-net-worth clientele. He is the shareholder of the Law Offices of David B. Mandell, PC(www.mandellpc.com). Along with Mr. Jarvis, Mandell is coauthor of the Wiley title Wealth Protection: Build and Preserve Your Financial Fortress.
www.secretsoftheaffluent.com
www.ojmgroup.com
Table of Contents
| Acknowledgments | p. xiii |
| About the Authors | p. xv |
| Introduction | p. xvii |
| Understanding and Embracing Affluence | p. 1 |
| Who Are the Affluent? | p. 3 |
| Understanding the Average American | p. 8 |
| Unique Advice for the Affluent | p. 16 |
| The Affluent Don't Want to Fit In | p. 21 |
| Use Leverage to Achieve Affluence | p. 27 |
| The Basics of Leverage | p. 29 |
| Financial Leverage | p. 32 |
| Leveraging Effort | p. 34 |
| Leveraging Assets | p. 37 |
| Leveraging People | p. 42 |
| Build the Right Team of Advisors | p. 49 |
| The Value of Advisors | p. 51 |
| Types of Advisors | p. 56 |
| Seven Mistakes to Avoid | p. 68 |
| Protect Assets | p. 77 |
| The Importance of Asset Protection | p. 79 |
| The Sliding Scale of Asset Protection | p. 83 |
| Asset Protection Myths | p. 87 |
| The Mixed Blessing of Property and Casualty Insurance | p. 91 |
| Business Protection Often Ignored | p. 96 |
| Maximizing Exempt Assets | p. 101 |
| Family Limited Partnerships and Limited Liability Companies | p. 107 |
| Using Trusts to Shield Wealth | p. 117 |
| International Planning | p. 125 |
| Protecting Your Home | p. 134 |
| Divorce Protection | p. 140 |
| Using Captive Insurance Companies to Protect Businesses | p. 148 |
| Always Consider Taxes | p. 155 |
| Uncle Sam's Pieces of Your Pie | p. 157 |
| Use Retirement Plans | p. 165 |
| Borrowing Lower Tax Rates | p. 168 |
| Long-Term Care Insurance | p. 171 |
| Charitable Planning | p. 174 |
| Educational Planning | p. 181 |
| Is Your Tax Advisor Helping or Hurting You? | p. 191 |
| Preserve Your Estate | p. 195 |
| The Truth about the Estate Tax Repeal | p. 197 |
| Wills and Living Trusts | p. 203 |
| The A-B Living Trust | p. 209 |
| Joint Ownership and Disinheritance Risk | p. 213 |
| Estate Planning Life Insurance Policies | p. 216 |
| Family Limited Partnerships and Limited Liability Companies | p. 220 |
| Avoiding the 70 Percent Tax Trap of Pensions and IRAs | p. 225 |
| Protection from Rising Medical Costs | p. 238 |
| Charitable Estate Planning | p. 242 |
| Avoid Financial Disasters | p. 247 |
| Premature Death of a Family Member | p. 249 |
| Premature Death of a Business Partner | p. 253 |
| Disability of a Breadwinner or Business Partner | p. 260 |
| Long-Term Care Needs for Families | p. 268 |
| Running Out of Money in Retirement | p. 274 |
| Invest Wisely | p. 279 |
| A Nobel Prize Is Not Enough | p. 281 |
| Taxes, Inflation, and Your Investments | p. 288 |
| Outgrowing Mutual Funds | p. 292 |
| Alternative Investment Strategies | p. 300 |
| Use the Secret Investments of the Affluent | p. 307 |
| Investment Efficiency | p. 309 |
| Real Estate Basics | p. 312 |
| Real Estate Leverage | p. 316 |
| Flexibility and Efficiency of Real Estate | p. 319 |
| Life Insurance Basics | p. 325 |
| Life Insurance Leverage | p. 332 |
| Flexibility and Efficiency of Life Insurance | p. 337 |
| Proof that Life Insurance Outperforms Mutual Funds | p. 340 |
| Creative Applications of Insurance | p. 349 |
| Leveraging the Ultimate Leverage Tool | p. 352 |
| Plan for Success | p. 357 |
| Index | p. 365 |
| Table of Contents provided by Ingram. All Rights Reserved. |
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