- Find out how the amount you invest in is more important than the return on your investment
- Learn why you should be contributing at least 30% of your income to your retirement plan
- Understand why properly investing in your retirement plans will help you save your money, avoid unwanted stress, and get a good night’s sleep
- Wanting to Know How You Can Financially Protect Your Family by Providing Them with a Six-Figure Retirement Income? Learn how you can get a successful retirement without the stress: chatwithhorace.com
Are you often feeling stressed out when it comes to thinking of your retirement?
Have you been finding ways on how you can invest in a retirement plan but feel like it’s a risk to take?
Do you want to know more about how you can properly invest your money in the right retirement plan and guarantee financial protection for you and your family?
Horace Bone is a US-based financial consultant with over 35 years of experience serving business owners and high-income professionals seeking six-figure retirement income.
In this episode, Horace talks about the why’s, the when’s and the how’s of investing in a retirement plan. He also shares his insights regarding government-sponsored retirement plans and how you can maximize your income by turning it into your retirement income!
Check out these episode highlights:
- 01:09 – Horace’s ideal client: “My ideal client is a 35-to-55-year-old, male or female, who is a high-income earner. We consider that somebody that makes $100,000 or more.”
- 01:53 – Problem Horace helps solve: “I find that our clients are unable or unwilling to contribute 30% to 33% of their income to a retirement plan. And they risk an uncomfortable retirement if they don’t do that.”
- 03:29 – Typical symptoms that clients do before reaching out to Horace: “I found out they don’t sleep well at night. There’s always this little demon on their shoulder that keeps whispering in their ear, “Are you ready for retirement?” And most people- you can’t get it out of your mind up until retirement.”
- 04:14 – Common mistakes that people make before they find Horace’s solution: “They put money into a government-sponsored IRA, 401k, or a 403b plan without a company match. If you don’t have a company match, you should never put a penny into a government plan.”
- 05:20 – Horace’s Valuable Free Action (VFA): “If you have contributed to a tax-deferred plan, roll it into a Roth, or 401k Roth, if that’s an option, pay the taxes now, then you will reap the return later.”
- 06:07 – Horace’s Valuable Free Resource (VFR): Check out Horace’s Interactive Website: chatwithhorace.com
- 06:47 – Q: Why am I still working at age 81? A: I have found that solving problems for people is what gives me retirement.
Tweetable Takeaways from this Episode:“The amount people invest is more important than the return on their investment.” -Horace Bone Click To Tweet
(Note, this was transcribed using a transcription software and may not reflect the exact words used in the podcast)
Tom Poland 00:10
Welcome, everyone, to another edition of Marketing the Invisible. My name is Tom Poland beaming out to you from little Castaways Beach here in Queensland, Australia, joined today by Horace Bone. Horace, good day from down under. A very warm welcome, sir! Whereabouts are you based?
Horace Bone 00:25
I’m on the East Coast, North Carolina.
Tom Poland 00:28
North Carolina. Heard lovely things about North Carolina! For those of you who haven’t met Horace yet, he’s a US-based financial consultant. He’s got over 35 years of experience serving business owners and high-income professionals who are seeking six-figure tax-free- beautiful words, those ones- retirement income. And Horace, that brings us quite nicely to the title of this little interview which is, “How to Protect Your Family Financially and Sleep Better, Knowing that You’ve Taken Steps to Provide Them with a Six-Figure Retirement Income”. Beautiful! So our seven minutes is going to start now, sir. Question number one, who is your ideal client?
Horace Bone 01:09
My ideal client is a 35-to-55-year-old, male or female, who is a high-income earner. We consider that, somebody that makes $100,000 or more. And they would like a retirement plan that is sufficient to guarantee his or her current standard of living, which may be $100,000, $200,000, $300,000, whatever they need. We figure they want the same thing when they retire. That’s what we work toward.
Tom Poland 01:39
Sounds like a good plan to me. Question number two, six and a half minutes left. How would you define the problem that you solve? I guess it’s around the continuation of the lifestyle that they’ve been used to while they’re working, anything else you want to add to that?
Horace Bone 01:53
Yeah, that’s correct. I find that our clients are unable or unwilling to contribute 30% to 33% of their income to a retirement plan. And they risk an uncomfortable retirement if they don’t do that.
Tom Poland 02:09
Horace Bone 02:10
They just can’t do that. We solve this problem by having our clients contribute to a simple five-pay plan. We leverage that contribution by supplementing it with a corporate rate loan. We invest that in an asset that, for the last 25 years, has returned an average of 6% annually.
Tom Poland 02:32
Horace Bone 02:33
The loan is paid off in the 10th year, and the asset is distributed starting in the 15th year or later, as a tax-free distribution, which will likely be 60% to 100% greater than if a similar contribution had been made to a traditional IRA or 401k. We give our prospective clients access to an interactive website where they can pre-qualify themselves, study our strategy, and run their own illustrations. And at that point, they can contact us if they care and if they need additional information.
Tom Poland 03:11
Very clever, and leading-edge and yet quite proven! So tell us, five minutes left, Horace, some of the typical symptoms. So if people are listening to this, what’s going on in their head or in their life or in their business where they would quite rightly think, “I need to find out more about this solution”?
Horace Bone 03:29
Well, I found out they don’t sleep well at night. There’s always this little demon on their shoulder that keeps whispering in their ear, “Are you ready for retirement?” And most people- you can’t get it out of your mind up until retirement. If you wait too late, you’ll start screaming the last few years.
Tom Poland 03:45
Horace Bone 03:47
So another thing is if they don’t know they are not contributing enough but they don’t do the arithmetic, they hesitate to make major purchases such as a new home, a new car, a luxury vacation, and they fear they might have to retire or may not be able to retire at all.
Tom Poland 04:05
Right. Thank you for that. Sure a lot of people would be able to relate to that. Question number four is the mistakes, the common mistakes that people make prior to finding your solution.
Horace Bone 04:14
They put money into a government-sponsored IRA, 401k, or a 403b plan without a company match. If you don’t have a company match, you should never put a penny into a government plan. It’s like getting into bed with Uncle Sam. Apparently, they’re not realizing that the amount they invest is more important than the return on their investment. Thirdly, they expose their retirement to market risks. If you save an asset, you build it and build it, it can go to zero or 20% less, or 30% less overnight, so that’s something to avoid. And finally placing your emphasis on growing a “taxable asset” rather than creating a guaranteed tax-free income stream. And finally, just waiting too long to implement any plan. That’s disastrous!
Tom Poland 05:04
Big one. And lots of traps, so new players and people don’t know really what they’re doing in the marketplace. Let’s get to question five then. And what I’m after here is a valuable free action, like a top tip, not going to solve the whole retirement issue for them, but it might be just one step in the right direction?
Horace Bone 05:20
Okay, I mentioned getting out of beta level, as soon as possible.
Tom Poland 05:24
Horace Bone 05:24
If you have contributed to a tax-deferred plan, roll it into a Roth, or 401k Roth, if that’s an option, pay the taxes now, then you will reap the return later. It’s what a farmer does. He would rather pay tax on the seed than the tax on the harvest. And with rising taxes, you’re gonna end up paying more taxes at the end than you save in the beginning by tax deferring the contribution.
Tom Poland 05:53
Boy, it could be a massive saving! Thank you for that, sir. Question number six, we got two minutes left, one valuable free resource. Where can we direct folks to go where they can find out more about your services?
Horace Bone 06:07
They can go to my site, chatwithhorace.com. That’s an interactive site. They may input their own information- their age, their sex, their health, and the amount they want to invest, a minimal amount of $20,000 a year for five years. We can deal with people that can’t do that, but that’s our optimal client. They can, as I said, run personal illustrations, and they can contact us for a conference call through that site if they so choose. We’re not going to call them.
Tom Poland 06:37
Perfect! Chatwithhorace.com. Last question, Horace. Question number seven, one minute left, what’s the one question I should have asked you but didn’t?
Horace Bone 06:47
Why am I still working at age 81?
Tom Poland 06:49
Holy Dooley! You’re 81? You look like you’re 61. So why are you still working at age 81?
Horace Bone 06:55
I have found that solving problems for people is what gives me retirement.
Tom Poland 07:03
Horace Bone 07:03
I’ve retired three times, each time I’ve come back, and I intend to continue doing this as long as my mind will continue to work.
Tom Poland 07:10
Absolutely love it! More power to you. And thank you for being such a great service and for your insights and wisdom and advice. You’ve packed an awful lot into six and a half minutes. Horace Bone, thank you so much.
Horace Bone 07:20
Tom Poland 07:23
Thanks for checking out our Marketing The Invisible podcast. If you like what we’re doing here please head over to iTunes to subscribe, rate us, and leave us a review. It’s very much appreciated. And if you want to generate five fresh leads in just five hours then check out www.fivehourchallenge.com.