They should pay because they can afford it and I am worth it. I don't want to be on a fixed income. Also, they will be more demanding. Why should the middle class pay a higher percent of their earnings as income tax than the billionaire class?
Series 65 (RIA) pros and cons to your production/income/happiness?
- Thread starter honestabe
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They should pay because they can afford it and I am worth it. I don't want to be on a fixed income. Also, they will be more demanding. Why should the middle class pay a higher percent of their earnings as income tax than the billionaire class?
So you are liquidating their investments to fixed annuities or overfunded whole life?
I think there may be a case for taking distributions during retirement from investments when markets are doing well and then taking distributions/loans from fixed products like insurance when markets are challenging. This still includes investments but includes insurance as a component.
- 11,471
You're still thinking about asset allocation and volatility management and not legal tax negation.
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Got a nice laugh out of this.
- 10,709
Not compared to a roboadvisor that will put them in similar funds with similar performance.
If investment management is your selling point... your selling point is a dying business model.
Someone has to make sure they are with the correct roboadvisor so they will actually follow the advice and not stress out so much. Also they can take me out for drinks and I'm a good listener.
Some people will never use an advisor, some people will always use an advisor, some people want to collaborate with an advisor, some people would never trust a roboadvisor. I know people that wont trust a remote advisor because they feel more comfortable with someone local. Comfort is value because it's not always about total return it's about peace of mind.
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I'm not worried about taxes. I consider a tax free 4% return similar to a 6% taxable return. I'm not fearful of future tax increases. I think the stock market still has the potential for higher returns. I wouldn't want to divorce the markets personally. I'm sure there are many people would be better out of the market receiving tax free distributions depending on their personality.
- 11,471
I can tell. You've never done the math on it and you're only thinking about rates of return.
I didn't factor in the taxes on social security benefits. I'm also not using risk adjusted returns. I'm confident people can receive a higher total return even considering taxes but that might not be the best approach for all clients. The client needs to want to benefit from a risk premium in retirement. I can see that if someone wanted a safer risk adjusted return your approach would be better for some clients.
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