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Location:Sperry's, Franklin (Cool Springs),TN
Sponsor:Beacon Financial Group LLC
Topic:How to build wealth in an uncertain economy
Speaker:Jon S. Maxson
Credential:Maxson didn't mention any, but he's licensed to sell securities through Madison Avenue Securities Inc. He also offers advisory services through Madison Avenue Securities, Inc, a registered investment advisor.
Appointments:Guests were given an opportunity to schedule an hour appointment with Mr. Maxson at his office
Topics:In order to teach the process of building wealth, it is necessary to free your Estate from outdated thinking.
Discussion: Beacon focuses on plugging your wealth leaks, not pouring money into a leaking bucket. Wealth leak #1-Not following your primary goal. Your biggest concern is outliving your money. Capital preservation is your primary goal. Three terms describe all investments:High Return, Capital Preservation and Liquidity. You can only pick two per investment. Avoid static stock portfolios, variable annuities, CDs. Bacon recommends (investing in) oil and gas drilling, oil and gas royalties, housing/tax credits, equipment leasing trusts, adaptive managed stocks/bonds, and collateral backed bonds. Wealth Leak #2-Riding Stock Market Roller Coaster. Bear market will last for 10-12 years. What is your advisor telling you? Wealth Leak #3-Too much money in temporary parking spaces. Banks, Credit Unions, Money Markets, Certificate of Deposits . Inflation: Rising price are the effect, not the cause. Cause is increase in money supply. Wealth Leak #4- Not understanding hidden fees in: Money Market Funds, Mutual Funds and Variable Annuities. Wealth leak #5- Income Taxes and Death Taxes. Investments need to be evaluated on three merits:Risk, Return and Tax Advantage. Must avoid paying too much TAX. Things you can avoid by proper planning 1)Probate, 2)Estate “Death” Tax and 3) Retirement Account Devastation. Plugging the holes in your wealth bucket. 1) Place some money in safe investments, 2) “Adaptive” managed portfolio, 3) Tax-advantaged investments, 4) Equipment leasing trusts, 5) Institutional Investments, 6)True asset class diversification (other than tools besides stocks and bonds), 7) Tax planning, 8) Life insurance physical.
Meal: The meal consisted of Sperry's mixed garden salad served with a choice of three Dressings. A basket of piping hot rolls came with the dinner For an entree, I was given a choice of 6oz filet, grilled chicken breast with a mushroom sauce or pan-seared salmon served with hollandaise. I chose the salmon. Baked Idaho potato and asparagus were the side dishes. The dessert was a choice of creamy cheesecake with raspberry sauce or molten chocolate with vanilla ice cream. My choice was the cheesecake. My meal was served with cafe Sperry's.
Summary: The one hour presentation was a quick overview of the use of a certain class of investment vehicles in the preservation and accumulation of wealth. This was touted as an introductory lecture only, but I believe that my hour was well spent. The dinner was superb.