Open Hand Investors

Financial Literacy: The Bridge from Debt to Dream! #FinancialFreedom #InsuranceMatters #SecureYourFuture #FinancialLiteracy #ProtectYourDreams #Empowerment #LifeSafeguard #InvestWisely #PeaceOfMind #BenefitAdvisor

Want to avoid the common debt repayment mistakes that can cost you thousands? Find out the top blunders to steer clear of in our latest article! #DebtRepayment #FinancialFreedom #MoneyManagement #PersonalFinance #DebtSnowball #DebtAvalanche #DebtWaterfall #FinancialLiteracy #MoneyTips #WealthBuilding

Simplify, Enjoy, Thrive: 3 Essential Strategies for Financial Well-being #FinancialFreedom #FinancialWellness #FinancialStressManagement #SimplifyYourFinances #JoyfulLiving #MindfulSpending #BudgetingTips #FinancialLiteracy #MoneyMindset

How a Simple Mistake Cost a Family $1.25 Million. Click 'See More' to discover the shocking truth about what happened to Sarah and her family... and how you can avoid a similar fate! Meet Sarah, a devoted wife and mother of two daughters, who lost her husband in a tragic accident. Her world was shattered, and to make matters worse, she faced a significant tax burden due to the Constructive Sale (Deemed Disposition) of their assets. Their combined assets, including their home and car, totaled $2.5 million. When her husband passed away, the IRS treated the transfer of assets to Sarah as a taxable event, resulting in a substantial tax liability. Calculation: Taxable gain: $2.5 million (assets) - $0 (basis) = $2.5 million Federal estate tax (40%): $2.5 million x 0.4 = $1 million State estate tax (10%): $2.5 million x 0.1 = $250,000 Total tax liability: $1 million + $250,000 = $1.25 million With no life insurance or asset protection in place, Sarah was unable to pay the tax bill. The government seized their home, selling it in a court-ordered sale for $1.6 million. After deducting the tax liability, Sarah and her two daughters received only $350,000 ($1.6 million - $1.25 million). This devastating story highlights the importance of life insurance and asset protection. If Sarah's husband had adequate life insurance coverage, she would have received the policy payout tax-free, covering the tax liability and preserving their assets. Don't let this happen to your loved ones. Consider life insurance and asset protection to ensure your family's financial security. Did you know about Constructive Sale (Deemed Disposition)? Share your thoughts, ideas, or questions in the comments below! Your feedback will help us create more informative content to support your financial journey! Book a FREE 15-minute Free Wealth Strategy Session ???? https://rb.gy/akwfk8 Follow ?Open hand Investors ? https://lnkd.in/g2C49qWX #LifeInsurance #AssetProtection #FinancialSecurity #TaxPlanning" #AssetProtection #TaxPlanning #WealthStrategy #FinancialLiteracy * Please note that the tax calculations are simplified for illustration purposes only. Actual tax liabilities and laws may vary depending on individual circumstances and jurisdictions.

Learn how to break free from the cycle of living paycheck to paycheck and build sufficient wealth for a prosperous future, as highlighted in this insightful article. #FinancialLiteracy #FinancialFreedom #WealthBuilding #MoneyManagement #FinancialEducation #Mentorship #SelfEducation #FinancialStability #ProsperityMindset #FinancialEmpowerment

Break free from consumerism and join the wealthy elite with compound interest! #CompoundInterest #WealthCreation #FinancialFreedom #InvestmentStrategies #NetWorth #PersonalFinance #MoneyMindset #WealthBuilding #FinancialLiteracy #InvestmentTips

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