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7.11.14 Did I Hear God’s Voice Accurately?

I was in Kansas when I heard that Charlene had been approved to join my practice, beginning June 11th. “Congratulations!” I e-mailed her. I am proud to have you on my team!” After exchanging a flurry of e-mails the prior week, I expected to hear right back from her. However, by the end of the week, I still hadn’t heard a peep. Why?

When I returned home, I heard from Charlene’s former advisor, who called to assist me with her transition to my office.

“Charlene was hospitalized last week,” he said. “Were you aware of that?” I wasn’t. I called her immediately.

Charlene confirmed that she was unexpectedly admitted to the hospital on the 11th and discharged three days later. We spent thirty minutes on the phone, while I listened to her vent her frustrations.

“My former advisor mistreated me,” she said. “He didn’t properly supervise his new assistant, who acted negligently by throwing my paperwork in a drawer instead of sending it to home office.” In the meantime, she had six sales that still needed to be processed and didn’t know how she was going to do it. She was used to being independent, and now she needed help while she was recuperating at home.

Her situation made me wonder, “Did I make the right decision to hire Charlene? Did I hear God’s voice accurately?” In the meantime, I knew what my role was.

Photo Courtesy @IStockphoto.com/Tashka

Photo Courtesy @IStockphoto.com/Tashka

 

“Our team will do everything possible to serve you,” I said. “May I come to your house this afternoon to pick up the paperwork and let you prioritize which clients need the highest attention?” She was thrilled.

“Yes, I would appreciate that so much!”

Charlene’s home was thirty minutes away. As I was driving, I prayed, “Lord, please give me confirmation that I heard your voice accurately. I am honestly having second thoughts.”

I parked in front of her house and gathered my notepad and pen. When I knocked on the door, a middle-aged brunette woman with soft features answered the door.

“Is this the home of Charlene?” I asked.

“Yes, it is. I’m Kelly, Charlene’s daughter. Please come in.”

The front hallway led into the living room where I was greeted by Charlene’s husband, Howard. As soon as he saw me, a big smile came across his face.

“I’ve seen you before,” he said. “I used to marshal on the weekends at Avery Ranch Golf Course. I don’t forget female golfers, especially tall ones!” I already felt at home.

Charlene was sitting in a big chair and reached out her arms to hug my neck, even though she couldn’t get up. I found a glider rocker to sit in.

Charlene was ready for me. She had six file folders to hand me. But before she gave me thumbnail sketches on each client, Kelly sat on a sofa across from us, wanting to speak.

“Lee Ann,” she said, “We prayed for you. When my Mother was seeking a new advisor to work with, God brought you and my Mother together. When your meeting is over, would you mind holding hands in a circle while I pray over your practice and this new team relationship?”

I was ecstatic! “I would LOVE to pray with you and your family!” I said, overjoyed. God answered my prayer for confirmation.  He introduced me to a family who prayed together and understood the importance of inviting God to lead us in our business. Then Kelly and Howard left the room to give us privacy.

After Charlene updated me on her client cases and prioritized them, Kelly and Howard reappeared to pray with us. We joined hands in the middle of their living room and formed a tight circle as we prayed. Kelly took the lead. We prayed in agreement that the Lord would restore Charlene’s health. Kelly suffers with Lupus and Sjogren’s syndrome, so we asked for a complete healing of her body. We prayed over my practice. We asked the Spirit of God to give us generous wisdom to meet the needs of the clients He has entrusted to us. Kelly specifically prayed that the Lord would prosper us in every way possible for His glory. When our prayer time was over, I knew in my spirit that I heard God’s voice accurately.

When I got back to the office Tuesday morning, I made it a top priority to help Charlene process her paperwork. Although these sales had been closed six weeks ago, she couldn’t receive her commission until the paperwork was complete. Elisha, my office assistant, and I spent the next three days cranking out paperwork for Charlene’s top client. We discovered errors in account set-ups from the former advisor’s office, requiring us to re-establish accounts with correct ownership titles and secure new signatures from clients. We prepared transfer forms and express mailed them to home office. We had rollovers to initiate, annuities to be linked at Ameriprise, and life insurance applications to process. We had twelve different sets of paperwork with new signatures that we hustled to home office. And that was her first client!

We knew home office would process the paperwork quickly. When the first pay period came for Charlene, the Lord provided handsomely! She not only received her commissions, but she was able to reimburse the expenses I incurred for her. That was one of my big concerns, and God proved that He was trustworthy to cover her expenses! That was my second confirmation that I heard His voice accurately.

Charlene is on the mend, while enjoying a strong start in her business. We both learned that God is still in control and still knows how to take care of His children.

 

Blessings,

Lee Ann

6.27.14 I Wasn’t Looking!

I walked into my office Monday morning, June 2nd, with three staff members and left the office on Friday, June 6th, with four. I wasn’t looking for a new employee! How did that happen?

On Friday evening, May 30th, Matt, my manager, left a voicemail for me. He informed me that Charlene, an associate financial advisor in our market group, needed to affiliate with a new franchise advisor. She felt disrespected by her current advisor, while he was not willing to work with her anymore. Consequently, he gave her two weeks to find a new “home.” Charlene asked Matt, “Do you know an advisor who would be a good fit for me?”  Matt said, “I think Lee Ann would be a great fit for you.” After deleting the voicemail, I thought, “Matt, why did you drop my name? I’m not looking!”

As a courtesy, I returned Matt’s call on Monday morning. I wasn’t expecting anything to materialize because Matt had given Charlene several names from our Austin market group to contact. As our conversation unfolded, Matt described Charlene (age 67) as an accomplished advisor who needed a new beginning. Her resume sounded impressive after 28 years of experience, but I would incur substantial fixed expenses for her, which concerned me. I asked Matt if he thought Charlene could produce enough income to cover them. He said yes, but encouraged me to call her.  I felt reluctant, but I agreed to call her out of deference for Matt.

I called Charlene early Monday afternoon to initiate contact. She was eager to impress me with her accomplishments and certain about her ability to generate revenue. However, I was honest with her. I wasn’t looking for a new employee, so IF I were to consider her for my practice, she would be responsible for her expenses. She understood my position and assured me that she could reimburse her costs. She was persuasive, but could I trust her words? After our phone conversation, I still felt resistance to consider her. Besides, I assumed she would call other advisors. I was wrong.

She called me Monday evening to process the possibilities of working together. I heard desperation in her voice. When she shared that her current advisor’s assistant didn’t process the multiple sales she closed, I felt her pain. The assistant had put her paperwork in a drawer for four weeks, so it never got mailed. Consequently, Charlene had gone six weeks without pay. My heart broke for her. At the end of our conversation, Charlene expressed her desire to work with me. I told her I needed to pray about this. I needed to know who was promoting this arrangement. Was it Matt or the Lord? If the Lord had prompted Matt to give Charlene my name, then I didn’t want to miss His will for us! That evening I prayed for wisdom and direction.

When I woke up Tuesday morning, I felt God leading me to explore this opportunity further. Accordingly, I owed Charlene a more earnest evaluation. I asked her to send me her production reports. I studied them and had a few clarification questions, which she satisfactorily answered. By 3pm Tuesday I felt God’s peace to offer her the opportunity to work with me, so I emailed her to reapproach covering her expenses. I reminded her that I wasn’t looking for a new employee, so if she was willing to escrow with me her first six months of expenses out of her first commission check, I was willing to hire her. Her first check would be large based on the business that was waiting to be processed.

At 4:15pm Charlene replied to my email. She asked me “not to put any more time into her.” She had “a lot of faith that God would lead her to the right person. She had a calm about herself that indicated that she needed to wait on the Lord.” I was perplexed. Something didn’t feel right. I immediately forwarded her email to Matt and said, “I think she just told me goodbye! Is that your take?” Matt replied, “Maybe. She just left a message for me to call her, so I will let you know.”

Matt called me at 8pm to give feedback. My request for an escrow out of her first commission check overwhelmed her. She had joined Ameriprise through her current advisor in June 2013. Three months later, her right hip locked on her, which required emergency hip replacement surgery. She was in rehab for two months before she could work again. In addition, she provides care to her disabled daughter who lives with her. She was furious at her advisor for failing to supervise the assistant who didn’t bother to process her paperwork. He was the reason she hadn’t seen a paycheck in six weeks. She was emotionally distraught.

As I headed to bed later that evening, I felt guilt. Was I wrong to ask Charlene to back her words by asking for an escrow check? My head said no, but my heart said yes. It was not wrong to ask an independent contractor to cover her expenses. But when I asked her to prepay six months of expenses, it reflected my fear that she might not produce enough income to meet her expenses.

While lying in bed, I prayed. “Lord, what am I missing? Why I am struggling with being pushed away by Charlene? I wasn’t looking for a new employee, so why do I care about this?! I don’t get it.” The Lord gave me a clear answer. “I want you to be willing to hire Charlene, but I want you to place your trust in ME to cover her expenses, not her.”

I woke up Wednesday morning with clear direction. I emailed Charlene to let her know that my door was still open. I affirmed her need to explore opportunities with other advisors to make sure she found the right fit for her. I assured her that if the Lord was trying to pair us, we would both feel His peace in this situation. In addition, if she had a better idea on how to take care of her expenses, I was open to hearing it. Within twenty minutes, she replied, “We need to meet.”

We met Wednesday afternoon. My goal was to be open to whatever the Lord was trying to accomplish. I began the meeting with a question: “Charlene, what do you most need from me?”

She replied with tears, “I need your COMPASSION. I need you to understand that I am penniless and need a safe place to start over. I don’t have six months of expenses to give you.” As tears flowed, she explained why her family was financially stressed.

Five years ago, Charlene and her husband felt God calling them to move to Athens, TX, to take care of her parents. Unfortunately, her parents spent down their assets for their care. Charlene’s family decided to share their resources to help them, which drained their resources. She needed a new beginning, so she moved back to Austin last year so she could begin to create income as an advisor again. Charlene’s story resonated with me. She was willing to do whatever she could to care for her parents, even if that meant spending down her own assets. My heart was wide open to embrace her as a new hire.

“Charlene, you have my compassion and my concern for your situation. I am going to trust the Lord to provide for your expenses.” As soon as the words rolled off my tongue, Charlene gave me a big hug. We both felt God’s peace to move forward.

By Thursday, she signed my job offer. By Friday, all the home office paperwork to transition her to my practice was completed. By Wednesday, June 11th, she was on my team.

Charlene Guess

Charlene Guess

As I reflected on this whirlwind week, God revealed a pattern of new beginnings that He has orchestrated in my practice over the last ten years:

  • Elisha, a former office assistant with another Ameriprise advisor, called me in June 2004 wondering if I was hiring an assistant. I had just started a solo practice a year earlier. I wasn’t looking, but she needed a new beginning. On June 7, 2014, she celebrated ten years with me. The Lord has blessed me beyond measure to have such a sweet-spirited woman who loves our clients and serves unselfishly. She is family to me.
  • Denise, an associate financial advisor in my Kansas office, called me in late spring of 2012. She was working with another Ameriprise advisor, which was an unhealthy situation for her. She called me wondering if I needed an associate financial advisor. I wasn’t looking, but she needed a new beginning. The Lord brought together three advisors who were willing to share her expenses. In return, Denise does projects for us. On July 25, 2014, she will celebrate two years with me. The Lord blessed me again by bringing a hard-working woman with tremendous knowledge and experience. I can count on her to do whatever needs to be done.
  • Charlene is my associate financial advisor in my Austin office. I wasn’t looking, but she needed a new beginning. I feel blessed to have another Christian colleague in my practice.   

I marvel at God’s goodness and grace. I bet all of us can name people God placed in our lives to give us new beginnings when we needed one.

God is about new beginnings. Don’t be surprised if God is creating space in your life to give a new beginning to someone else – even if you’re not looking!

 

Blessings,

Lee Ann

6.13.14 Let’s Bless Someone Today

Are you looking for an opportunity to financially bless someone today? If so, let me suggest a dear group of people who need support: single parents. Who comes to mind when you read “single parents?” Maybe your neighbors or your colleagues or your family and friends? Maybe you?

 

I sympathize for single parents trying to raise children on a tight budget. Some of them were divorced against their will, while others left an abusive relationship. If you ask them what they worry about the most, they will tell you, “not having enough money.” It is no secret that women are more economically disadvantaged after coming out of a divorce. They feel anxious being the sole supporter of their family.

 

Let’s try to live in their moccasins for a minute. Imagine dealing with the daily obligations of preparing meals, keeping up with the house, helping the kids get bathed or dressed, and then working a full time job. These tasks are stressful enough with spousal support. Now imagine the added emotional stress you would feel if a medical bill arrived in your mailbox that you couldn’t pay. Some of these bills induce sticker shock. We are privileged when we can pay our bills from our cash reserves or our next paycheck. But many single parents cannot. I fear that we’re too busy to notice the financial pain single parents are experiencing.

Photo Courtesy @IStockphoto.com/killerb10

Photo Courtesy @IStockphoto.com/killerb10

 

It saddens me that God has placed single parents in our lives, who are crying on the inside, but we’re not seeing it. They are financially hurting and wondering if they can make ends meet, while we dine at our favorite restaurants or engage in our favorite hobbies. How does God’s Word inform us to act when we see others needing help? Several passages come to mind:

 

Romans 12:8 Paul gives a list of spiritual gifts to his readers, declaring that if your gift “is contributing to the needs of others, let him give generously.”

Romans 12:13 Paul encourages us, “Share with God’s people who are in need.”

James 2:15-17 James tells us our faith is dead if we see a brother or sister without food or clothing and then say, “I wish you well; keep warm and well-fed.”

I John 3:17 “If anyone has material possessions and sees his brother in need but has no pity on him, how can the love of God be in him?”

 

I look to the above verses to strengthen my living giving vision of helping those who are financially stressed. Here is our graphic with today’s focus on helping single parents:

 

Graphic Courtesy of Chelly Drake

Graphic Courtesy of Chelly Drake

 

If you were a single parent, would you have the courage to ask for financial help? If you’re like most people, you wouldn’t dare ask. You might feel embarrassed, or ashamed, or worried that someone will think less of you. So how do we create a bridge to minister to our family or friends if they won’t ask for help?

First, pray for God to reveal a financial need so we can minister to them.

Second, listen for financial stress during conversations with single parents. My friends don’t come right out and say, “I can’t pay my medical bill.” Instead they say, “My doctor won’t see me until I pay my balance, so it may be a little while before I can make an appointment.” Or I will hear the stress in their voice when they say, “I can’t believe I have three bills due at once. It will be a miracle if I get them all paid.” Before the Affordable Care Act (ACA) came along, my friends who didn’t have health insurance would say, “I can’t afford to go the doctor or dentist.” Sometimes it can be difficult to come up with a $25 copay to see a doctor. In none of these scenarios did anyone ask, “Lee Ann, can you help me?” I take the initiative by asking, “Would you please let me help you with any medical bills you have?” Or “What bill is creating the greatest burden for you?” Or “Would it be okay for me to minister to you financially?” When I am direct, I don’t get turned down.

 

The Lord amazes me. He already knows the need of my friends and knows how to provide the resources to me to assist them with their medical bills. I have yet to miss the money that went to pay a medical bill for a single parent. Sure, the payment temporarily reduces my checkbook balance, but I promise you I do not miss it – and neither would you. In addition, my accountant informs me that by paying a medical provider directly, I can receive a tax deduction. That’s not the reason I give, but it’s a nice bonus.

 

I’m sure I sound like a broken record by now, but there is joy knowing that God has resourced us to help others. We have the privilege of being God’s conduit, while His generosity flows through us. When we reduce their financial stress by paying their medical bills, we are also giving them the gift of emotional rest. They are no longer losing sleep.

 

Would you prayerfully consider helping a single parent financially? In my last post, I suggested that you create a budget line item entitled, “Helping those in need.” This line item can be used for both the poor and/or single parents who need our help. With some gentle probing, I bet you will discover an opportunity to financially bless a single parent today. More importantly, watch your impact on them, and you will see how powerful your financial gift is to them. It will make you want to do it again!  

 

Blessings,

Lee Ann

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5.30.14 Three Reasons Why We Should Give to the Poor

Recently I was sitting at a traffic light when I noticed an underprivileged woman on the corner holding a sign that read, “Anything helps. God Bless.” Because I was out of granola bars, I reached for a dollar in my wallet. When I rolled down my window, she flashed a smile of appreciation. As I handed her the dollar, I shared my standard pitch, “This dollar is not from me, but from Jesus. I hope you will spend it wisely.” Without skipping a beat she said, “Jesus is my Savior, and I am saving these dollars to pay next month’s rent.”

Photo Courtesy @ IStockphoto.com/eyecrave

Photo Courtesy @ IStockphoto.com/eyecrave

 

I don’t profess to be an expert on ministering to the poor. I struggle with how to help them effectively as much as the next person. As Christians, I doubt we disagree about our duty to assist the poor, but how we go about it is another matter. Giving to the poor is part of my living giving vision.

Graphic Courtesy of Chelly Drake

Graphic Courtesy of Chelly Drake

 

I offer three biblical reasons why our living giving plan should include the poor.

 

#1: God said so.

“Give generously to him and do so without a grudging heart; then because of this the Lord your God will bless you in all your work and in everything you put your hand to. There will always be poor people in the land. Therefore, I COMMAND you to be openhanded toward your brothers and toward the poor and needy in your land.      — Deuteronomy 24:10-11

 

Throughout the New Testament, you will find passages in which God places high value on the poor.  Examples include “remember the poor,” and Tabitha “was always doing good and helping the poor,” and Cornelius “was God-fearing and gave generously to those in need.”

 

#2: Jesus expects us to remember how merciful He was to us, which should motivate us to be merciful to those in need without judging them. 

Luke 6:27-38: Jesus teaches us how to love the unlovable, i.e. love your enemies, do good to those who curse or hate you, and lend without expecting repayment. He even says “Give to everyone who asks you.” Why? He gives an admonition, “Be merciful, just as your Father is merciful. Do not judge, and you will not be judged.”

Jesus showed us mercy when we deserved to be condemned. When the poor need help, He wants us to demonstrate His mercy and generosity without judgment.

 

#3: Jesus believes that when we ignore the poor and needy, we have ignored Him. 

Matt 25:34-40: This passage describes Judgment Day. The first three verses describe Jesus affirming the righteous for giving Him food, water, and clothing when He was in need. The last four verses describe the righteous trying to recall when they gave Him these provisions. Jesus said, “I tell you the truth, whatever you did for one of the least of these brothers of mine, you did for me.”

Jesus deeply cares for the poor. It is so important to Him, that we will be held accountable for our actions toward the poor on Judgment Day.

 

WHERE DO WE GO FROM HERE?

God expects us to take care of the poor, but I feel challenged by how to do this effectively. Don’t you? How do we give generously in a culture in which we are segregated by socioeconomic classes? How do we reach across those barriers when the primary times we cross paths with the poor are at a signal light or on a mission trip? How do we make meaningful connections with people in need? Moreover, how do we make this a part of our living giving plan?

Here are some opinions I’ve heard among Christians about how or how not to help the poor:

 

  • If we give money to a homeless man, he is going to buy alcohol with it. How is that helping the poor?
  • Handing money to a poor person is not solving the problem of poverty. We are rewarding their choice to panhandle.
  • Communities have places set up to provide meals and shelter for the poor. We should encourage them to seek assistance there.
  • When we give our tithe to the church, a portion of the money is sent to organizations that help the poor. Therefore, I am fulfilling the requirement to help the poor.

 

None of these points exempt us from looking the other way when a person is asking for help on the corner. When I read a passage from Deuteronomy about being “openhanded” or giving “without a grudging heart,” I can’t ignore my responsibility. Furthermore, if we adopt the premises shared above, we ultimately foster a pattern Jesus doesn’t favor – keeping the poor at a distance.

 

Of course, how I chose to help the woman on the street corner prevails as the least popular approach among the brethren! I typically have non-perishable food in the car to give away. However, this is the most obvious daily opportunity I have to create a meaningful connection with the poor. And if we are honest, giving a dollar doesn’t make a dent in our wallet when we don’t have food to give away. Why begrudge them? Who are we to judge them?

For those looking for an entry point, let me offer some ideas to help the poor as part of your living giving plan:

  • Create a line item in your budget entitled “Helping Those in Need” and determine a set amount to give each budget cycle. Then be intentional by praying for the opportunity to serve the poor directly. Ask the Lord to reveal persons in need so you know who should receive the amount you’ve set aside to give. I have been doing this for the last five years, and it is amazing how God answers this prayer!
  • If your church has a ministry to feed the poor, get involved. If not, then meet with the director of your local soup kitchen and volunteer to help serve meals. When you are finished serving the food, then sit at the table with them and make a connection. Learn a little bit of their story, and come back regularly so you can cultivate a relationship with them.
Photo courtesy @Istockphoto.com/jgroup

Photo courtesy @Istockphoto.com/jgroup

My friend, Barb, and I did this for over a year in Hutchinson, and five years later, we still share a friendship with a sweet woman named Bessie. She still calls us for prayer support, or when she’s lonely.

Bessie and me at IHOP.

Bessie and me at IHOP.

 

THE REWARD FOR HELPING THE POOR AND NEEDY 

I invite you to implement one of these ideas. Let me encourage you with these passages from Proverbs:

  • Prov 19:17 “He who is kind to the poor lends to the Lord, and he will reward him for what he has done.”
  • Prov 22:9 “A generous man will himself be blessed, for he shares his food with the poor.”
  • Prov 28:27 “He who gives to the poor will lack nothing.”

 

Here’s the bonus:God’s living Word is intended to be transformational, not informational. When we act on the information, the poor is blessed, but we are the ones who are transformed! Our hearts grow to be more like Jesus. Because we are made in His image, our generosity to the poor reflects Him. We share His joy when we tangibly make a difference in the life of another. It is my prayer that you will incorporate helping the poor in your living giving plan.

 

What is your greatest struggle to help the poor in more meaningful ways beyond sending money as a charitable gift? If you are helping the poor that includes connecting with them directly, please share a comment below on how you’re doing it to inspire the rest of us! 

 

Blessings,

Lee Ann

5.16.14 Life Insurance for Infants?

Talking about life insurance is like putting lipstick on a pig. How attractive can it really be? Take the parachutes off your back and stay with me! I have always believed in utilizing insurance to protect family from catastrophic events such as a premature death, disability, or long term care. But I bet the majority of you have not thought about taking out life insurance on your infant, let alone how it can be a tool for living giving.

Today I want to expand your thinking about living giving for your own child, grandchild, or any young relatives through life insurance. I’ll share with you the big picture and possibilities without going into all the factors and variables. As I demonstrate the versatility of life insurance, I invite you to ponder the question at the center of the graphic below: “What is My Living Giving Lifetime Goal?” for utilizing life insurance.

Graphic Courtesy of Bill and Chelly Drake

Graphic Courtesy of Bill and Chelly Drake

Let’s assume you want to buy life insurance on your child or grandchild as soon as he or she is born. What kind should you buy? In order to carry life insurance throughout your child’s life, you need permanent life insurance, e.g. whole life, universal life, or variable universal life policies. Let me be clear, the goal of buying insurance is not for purposes of a death benefit (though that comes with the policy), but rather to provide for them later in life.

How is using life insurance a “living giving” approach?

  • Because life insurance offers permanent protection as long as the premiums are paid, your gift builds equity (also known as cash surrender value) in the policy for your child or grandchild.
  • By building the cash value in the policy, it can be accessed for a number of purposes, like funding your child’s college education, or supplementing their retirement income decades from now – tax free.
  • By securing your child’s life insurance policy as soon as he/she is born, you are protecting the child’s future insurability over his/her lifetime. Once the policy is issued, coverage cannot be canceled as long as the premiums are paid. That’s a gift. And if you buy the policy with a Policy Purchase Option, you have the opportunity to incrementally increase the death benefit during certain windows of time, regardless of your child’s health situation. We take for granted that kids will be healthy, but conditions like diabetes or autism, for example, will preclude children from being underwritten.
  • Finally, the ultimate goal is to transfer the ownership of the policy to your child. You are gifting the equity that has been built up over a long period of time that they can tap for retirement income or other expenses – tax free.

 

Let’s Do Some Math

Life insurance premiums are based on age. If you buy a policy on your child when she is young, you pay less in premiums. Let’s assume you’re buying a variable universal life insurance policy on your infant, and you can commit $500/year in premiums. Here is what $500/year in premiums can buy in ballpark figures:

  • $68,000 for the initial death benefit.
  • When your child is eighteen, the equity is approximately $12,000 (assumes about a 7%/year rate of return net of expenses), which can be tapped for college education expenses tax free.
  • When your child is eighteen, the death benefit will have grown to approximately $80,000, though this is not the focus of this strategy.
  • If you don’t need to tap the equity for college education, then let it keep growing. When the child is 65, the equity is around $400,000, which can be withdrawn tax free.
  • When the child is 65, the death benefit has grown to approximately $500,000.

 

Here’s the punch line. Your living giving was $500/year in premiums from your child’s infancy to their age 65, or $32,500, but the resulting tax free gift grew to $400,000. This amount is your lifetime living giving goal for insurance assuming you are gifting for one child.

It is my prayer that as you read these posts, you are envisioning ways that you can practice living giving to change your family’s financial tree. As of today, I have covered living giving through 529 Plans for college education (Living Giving with 529 Plans), through Roth IRAs when your children start earning income (Living Giving Through Roth IRAs), and through life insurance. I hope your cumulative lifetime living giving goal is growing!

If you like the idea of living giving through insurance, contact your financial advisor or insurance agent to process it. They will gladly run an illustration for you at no cost for any scenario you want. 

 

Blessings,

Lee Ann