In The Press
Pursuing a lead in the rough neighborhood of the South Bronx, Archer enters a building with people fighting and urine in the elevator, where two people try to mug him. “‘I’m taking my life in my hands here,’” thought Archer, who actually grew up not too far away in the same neighborhood. “That was the straw that broke the camel’s back.”
Cash-value life insurance could prove to be a valuable asset for clients looking to couple an insurance need with tax and portfolio diversification in retirement. But there are some major caveats involved – namely, product considerations are complex and numerous, and using this strategy inappropriately in a retirement income plan can trigger major pitfalls for clients.
“The reason so many gifts take place around the holidays is [because] around this time people are philanthropic,” says Thomas J. Archer, founder of The Archer Financial Group, a boutique life insurance advisory firm in Manhattan. However, it is important to consider your charitable goals for the long term, too, he says.