Financial Network LLCWe offer a variety of financial planning services to help business owners and individuals plan for whatever's ahead.
👋 Welcome to LVED Financial Network LLC
Our services include:
*Wealth Strategies
*Education Savings
*Estate Planning
*Planning for Retirement
*Social Security Benefits Optimization
*Life Insurance & Annuities
*401k Plan Reviews
An RSSA ELITE Registered Social Security Analyst® (RSSA®) will provide you with a unique Social Security plan, to help you decide on the optimal claiming decisions. Using the RSSA Roadmap® Optimization Software, an RSSA® will help you maximize your Social Security claiming strategy to increase your lifetime benefits. Learn how an ELITE RSSA can help you maximize your benefits.
We can help clients save hundreds of thousands of dollars in additional Social Security benefits that they have earned and are entitled to. We help clients determine when they should file and start collecting Social Security based upon their unique situation and historical earnings records. Everyone’s situation is unique. Whether you are single, married, divorced, widowed or a self-employed business owner, an RSSA® can help you get every dollar you are entitled to from the government, and optimize your benefits.
Married: Collect up to one-half of your spouse’s Social Security benefit without affecting their checks. Divorced: If you are divorced and 62 or older, you may qualify to receive benefits from your ex-spouse Widowed: Survivor benefits may be available if your spouse has passed away. Disabled: Understand how to qualify for valuable disability benefits. Self-Employed: Decrease payroll taxes and still maximize Social Security income.
1️⃣ 15-Minute Initial Call: Discuss your unique situation and determine if a full analysis is appropriate. (Social Security analysis not included.) 2️⃣ 30-Minute Call/Video: Review Social Security rules, benefits, eligibility, claiming strategy options, and more. 3️⃣ 1-Hour Consultation: Receive a customized presentation outlining your best claiming options.
An RSSA ELITE Registered Social Security Analyst® (RSSA®) will provide you with a unique Social Security plan, to help you decide on the optimal claiming decisions. Using the RSSA Roadmap® Optimization Software, an RSSA® will help you maximize your Social Security claiming strategy to increase your lifetime benefits. Learn how an ELITE RSSA can help you maximize your benefits. (RSSA®)RSSAs use RSSA Roadmap® Social Security Software Contact us
If this form does not work, please copy your information and send it to the email below.Strengthen your employee perks!! Social Security Benefits Program Benefits are any perks offered to employees in addition to salary. The most common benefits are medical, disability, and life insurance; retirement benefits; paid time off; and fringe benefits. Benefits can be quite valuable Your organization’s members or employees can have easy & personal year-round access to RSSA Roadmap software, support, education and webinars for common Social Security issues we all face – from eligibility to pensions to spousal benefits and more. Turn-key Social Security and Retirement Planning Education, Software, Support, and Webinars Provide your members or group with access to the Social Security HR benefit they need, for a low rate. Whether they’re single, married, divorced, widowed, or getting ready to retire, RSSA will provide the necessary assistance and support to help your members understand their options. Your organization’s members or employees can have easy & personal year-round access to RSSA Roadmap software, support, education and webinars for common Social Security issues we all face – from eligibility to pensions to spousal benefits and more. Additional Features Dedicated Social Security Team: You have unlimited access to RSSA webinars and support. Comprehensive Coverage: You get access to RSSA Roadmap technology. Cost Effective Support: Employer groups, associations, credit unions, and other organizations, can offer their employees/members and their families affordable Social Security financial education.
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Our Services include: Life Insurance policy reviews, Whole life insurance, Universal life insurance, Term life insurance, Advisor Managed Variable Universal Life (via a referral to an Investment advisory firm), insurance Final expense insurance. Burial insurance. Supplemental insurance, Survivorship IUL, Convertible term, Guaranteed issue life insurance. Decreasing term, Juvenile insurance Life Insurance Having the right life insurance is pivotal in planning for the future of you and your loved ones. Life insurance can help you fulfill promises you’ve made your family when you are gone. Don’t leave the future of you and your loved ones to chance. LVED Financial can help you find the right life insurance coverage for you, and help ensure that your policy continually meets your needs. Life Changes. So Should Your PolicyThe right life insurance will be unique and dependent on personal and financial needs. As your life changes, your life insurance coverage may need to change in order to adapt to your current needs. Some life transformations that may require a policy “tune-up” include: *You recently married or divorced *You have a new child or grandchild *You have opened or expanded a business *Your health or your spouse’s health has deteriorated *You are providing care or financial assistance to a parent *Your child or grandchild requires assistance or long-term care *You recently purchased a new home *You are planning for a child or grandchild’s education *You are concerned about retirement income *You have refinanced your home mortgage in the past six months *You or your spouse recently received an inheritance Succession Planning If you are a business owner, it is of the utmost importance that you determine how the business is controlled, and who will share in the wealth the company creates in the event that the unthinkable happens, or if a key employee or owner leaves. Making these determinations should be an ongoing, proactive process that ensures the organization's long-term viability is assured. By developing a deliberately thought-out succession plan, a company can excel in retaining key employees, ensuring leadership continuity, and providing a strategic direction that strengthens the business's stability and reputation. Our team of experienced agents at LVED Financial Network can help you select the best life insurance coverage for your needs.
Retirement planning is a process that involves preparing for your financial future after you stop working. It can include: + Setting goals: Consider your retirement goals and how long you have to achieve them. + Estimating expenses: Figure out how much money you'll need to live on in retirement. + Saving and investing: Contribute to retirement accounts, like a 401(k) or IRA, to grow your savings. + Managing debt: Pay off high-interest debts, like credit cards and personal loans, before you retire. + Creating a distribution plan: Decide how you'll access your saved income in retirement. + Generating passive income: Consider activities that will generate income after you stop working. You can start planning for retirement at any time, but it's best to start as early as possible. Each retirement plan is unique, so it's important to design one that meets your specific needs. Tax advantages Two of the tax advantages of sponsoring a 401(k) plan are: Employer contributions are deductible on the employer’s federal income tax return to the extent that the contributions do not exceed the limitations described in section 404 of the Internal Revenue Code. Refer to Publication 560, Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans) PDF, for more information about deduction limitations. Elective deferrals and investment gains are not currently taxed and enjoy tax deferral until distribution. Different rules apply to each. For tax-favored status, a plan must be operated in accordance with the applicable rules. Therefore, it is important that the employer be familiar with the special rules that apply to its plan so the plan is administered in accordance with those rules. To qualify for the tax benefits available to qualified plans, a plan must both contain language that meets certain requirements (qualification rules) of the tax law and be operated in accordance with the plan’s provisions. The following is a brief overview of important qualification rules. It is not intended to be all-inclusive. A 401(k) plan is a qualified plan that includes a feature allowing an employee to elect to have the employer contribute a portion of the employee’s wages to an individual account under the plan. The underlying plan can be a profit-sharing, stock bonus, pre-ERISA money purchase pension, or a rural cooperative plan. Generally, deferred wages (elective deferrals) are not subject to federal income tax withholding at the time of deferral, and they are not reported as taxable income on the employee’s individual income tax return. 401(k) plans are permitted to allow employees to designate some or all of their elective deferrals as “Roth elective deferrals” that are generally subject to taxation under the rules applicable to Roth IRAs. Roth deferrals are included in the employee's taxable income in the year of the deferral. What is a Roth IRA?A Roth IRA is an individual retirement account (IRA) you fund with after-tax dollars. Your investments have the potential to grow tax-free and may be withdrawn tax-free, provided certain requirements are met.1 Contributions you add to a Roth may be withdrawn at any time penalty-free. Traditional IRA Tax-deferred potentialReduce your taxable income by deducting your contributions, if eligible, and your potential earnings could grow tax deferred4. SEP IRA Easy-to-maintain plan for a self-employed individual or small-business owner, with fewer than 5 employees1.
Small Business Risk Management Risk management is essential for small businesses to protect their assets, finances, and operations. Small businesses are more vulnerable to risks than larger businesses, and have fewer resources to fall back on if something goes wrong. Here are some risk management strategies for small businesses: Risk identification A systematic process that involves identifying the sources, likelihood, and consequences of different types of risks Risk mitigation A plan that seeks to limit the financial impact on the company if something goes wrong Monitoring An essential part of risk management, often handled manually in smaller organizations Business continuity planning A formal system and structure that helps reduce the risks to your business, and provides a defined path for recovering from potential threats Business Valuation Why it is important to have a current valuation? Business owners are sometimes so focused on the day-to-day operations of their businesses that they overlook a large component of their overall wealth — the value of their business. There are several occasions when an owner should consider having a formal valuation performed for their business. Through a formal business valuation process, you will learn what the fair market value of your business is, or what a hypothetical buyer would be willing to pay for your business. You should have a business valuation handy at all times for a variety of important business and personal financial planning reasons such as planning for a sale of the business, retirement, estate planning or business strategy. And when you have a valuation performed, you want one that is accurate and will hold up in case of litigation. 1. Selling your business – As the economy continues to recover and M&A deal flow improves, many business owners are looking to cash out. In order to be well informed during price negotiations, it is important to have an accurate idea of what your business is worth and how a buyer may be viewing the cash flows of the company. Performing a business valuation early in the planning process (potentially years before a sale), can help you achieve a more favorable outcome as you will have a better understanding of the value drivers of your business. By planning early, you can actively improve these value drivers to maximize the realized value during the exit. 2. Retiring – If, like many business owners, the sale of your business is your retirement plan, you need to know the value of one of your biggest assets to better plan for retirement. Your perception of your business’ value may be very different from what the pool of potential buyers is willing to pay. Understanding the fair market value of your business will allow you to have more confidence in your planning process and help you achieve your retirement goals. 3. Planning Your Estate – Your business may be a critical part of the estate you plan to pass on to future generations or other family members. If the estate is sizable enough, an estate planning transaction may draw some attention from the IRS. Filing a well-supported and documented valuation with your gift tax returns will help defend the value of the business to taxing authorities, especially if certain valuation discounts are applied. 4. Managing your business – Similar to the way you might follow the stock price for a public company, tracking the per share equity value of your privately held business can be an effective way to measure performance or set management incentives. A valuation professional will be able to set up a framework to help identify changes in the business that could improve value. This information and the perspective of an independent third-party appraiser can help you decide how to allocate resources and invest to drive growth. 5. Defending Your Value – It is particularly important to have a well-supported valuation when there is a possibility that the value of the business may be contested as part of a shareholder dispute, purchase or sale process, or a divorce. You might be tempted to minimize costs during these already expensive processes but a more robust analysis can differ significantly from a high-level estimate generated from the use of valuation shortcuts. A thorough analysis will be more reliable, supportable and defendable when disputed. *Note – Information from a 2017 Article from by Ben Morgan in the St Louis Business Journal was used in this section 401K Plan Review Every year it is important to review your 401K plan. Below are steps you can take to identify issues within your plan before an audit. 1. Not keeping plan document up-to-date If any rules or regulations pertaining to plans have changed, plan documents must be changed to reflect those changes. Many plan vendors will provide the sponsor with amendments, but it is the sponsor’s responsibility to formally adopt them. 2. Not following plan documents The plan document serves as the foundation for plan operations; simply put, it is the operating manual for the plan. It’s important to understand plan documents and consult them upon making decisions. If operations have changed, plan documents need to be updated to be current and accurate. It’s a good idea to conduct a document/process audit every couple of years. Don’t assume that the way things have always been done is supported by the legal document governing the plan. 3. Using incorrect definition of compensation to calculate deferrals A big problem that a lot of retirement plans face is the proper application of the plan’s compensation definition. With numerous payroll systems and pay codes, it’s easy for something to get programmed incorrectly that, in turn, incorrectly calculates deferrals. Plan sponsors need to make sure that what’s happening operationally is in agreement with the plan document. Read the document’s definition of eligible compensation and check it against a few employees’ payroll records to verify that all eligible compensation was included when calculating their deferrals. If there are discrepancies, corrective distributions or contributions may be needed. 4. Not depositing participant contributions on timely basis Late payroll deposits are one of the most common DOL audit issues. The law requires that participant contributions be deposited in the plan as soon as it is reasonably possible to segregate them from the company’s assets. The word “reasonably” is not defined under federal law or guidance for purposes of determining whether a deposit of deferrals has been made timely. Generally for larger businesses, a timely deposit will most likely happen within a couple of business days after the payroll withholding. There is a small business safe harbor that applies to businesses with fewer than 100 participants. The safe harbor states that 401(k) deposits for a small business are timely if they are made within seven business days from the date the contributions were withheld from employee wages. We recommend that the plan sponsor examine the company’s payroll process to determine the date that contributions can reasonably be segregated from assets and use this date as the maximum deadline for remitting contributions. 5. Not following eligibility requirements The plan document spells out employees’ rights to retirement benefits and the formulas for determining them based on the correct application of service and/or age requirements of the plan regarding eligibility for participation. To comply with those requirements, the plan sponsor needs to maintain accurate service records for all employees and have a process built into their system to inform them when the requisite hours are reached by each employee. If these records are incorrect or a system is not in place, the benefits provided may be incorrect. It’s a good practice to periodically pull a representative sampling of employees (new hires, transfers, rehires and part-time employees) and review eligibility procedures. 6. Improper participant loans, hardship withdrawals Plan documents provide that hardship distributions can only be obtained for certain very specific reasons, and loans are permissible only when they comply with certain standards. Failure to ensure that these legal requirements are met can result in a distribution that is not authorized under the terms of the plan document. We recommend that employers check to make sure that provisions in the plan document properly reflect how the plan is actually administered. The employer can check for compliance by picking a representative sampling of employees who have taken a hardship distribution or loan and reviewing the paperwork that relates to those loans to make sure everything is in order and complies with legal requirements. 7. Failing to perform ADP/ACP nondiscrimination testing The Employee Retirement Income Security Act requires testing to prove 401(k) plans do not discriminate in favor of highly compensated employees. The IRS believes that one of the greatest failures for 401(k) plans is the failure to perform this required discrimination testing and correct any errors by the proper deadline. Nondiscrimination testing is usually performed by the record-keeper or a third-party administrator, but plan sponsors should understand the basics, including the consequences of failing. Employers should examine these tests for errors, such as employees listed with zero compensation or employees on the list who have deferral percentages greater than plan limits. . Forgetting to file Form 5500 A Form 5500 has to be filed with the DOL every year. Sometimes it can fall through the cracks, especially in small companies. For larger plans, failure to file the Form 5500 can occur when mandatory audits are not completed in time to be included with the Form 5500 as required. Plan sponsors should develop an annual compliance checklist that includes completing and filing the Form 5500. Another option is to outsource the filing of Form 5500 to a reliable third-party administrator. With continuous monitoring and periodic self-audits, retirement plan sponsors can avoid many of the problems detailed here. As for plans that are not in compliance, the IRS and DOL have several programs for voluntary self-correction of operational errors and fiduciary violations. If caught early enough, many issues can be easily fixed by the plan sponsor Cross Purchase Agreements A cross-purchase agreement is a legally binding contract between business partners or shareholders that outlines how to transfer ownership or assets if a partner dies, retires, or becomes incapacitated. The agreement can also establish a plan for business continuity and provide tax benefits. Key Man Insurance Key man insurance, also known as key person insurance or key employee insurance, is a type of life insurance policy taken out by a business on the life of a key employee. This employee is typically someone whose skills, knowledge, or overall contribution are considered crucial to the company's success. The company pays the premiums and is the beneficiary of the policy. Here are some key points about key man insurance: Purpose: The primary purpose of key man insurance is to protect the business from financial loss that may occur due to the death or disability of the key employee. The funds from the insurance policy can be used to cover expenses such as hiring a replacement, covering lost revenue, paying off debts, or funding the transition period. Who Qualifies as a Key Person? A key person can be anyone whose loss would severely impact the company’s operations and financial health. This could be a founder, CEO, top executive, or a highly skilled employee. Types of Coverage: Key man insurance can be structured as term life insurance, which provides coverage for a specific period, or as permanent life insurance, which provides coverage for the lifetime of the insured. Additionally, it can include disability coverage, which provides benefits if the key person becomes disabled and unable to work. Benefits to the Business: The insurance payout can help ensure business continuity, maintain the confidence of stakeholders (such as investors, creditors, and customers), and provide financial stability during a challenging time. Tax Implications: Premiums paid on key man insurance are generally not tax-deductible as a business expense, but the death benefit received by the company is typically tax-free. However, specific tax regulations can vary by jurisdiction, so it is advisable to consult with a tax professional. Policy Considerations: When setting up a key man insurance policy, businesses need to determine the amount of coverage needed, which is usually based on the financial impact the loss of the key person would have. They also need to decide on the type and term of the policy that best suits their needs. Overall, key man insurance is a strategic risk management tool that provides businesses with a financial safety net in the event of the loss of an essential employee.
Incorporating philanthropic giving into your financial plan is a great way to make a meaningful impact in your community and support causes that are important to you. Here are some steps you can take to get started: Define your giving goals: Determine what causes you're passionate about and what type of impact you want to make. This will help you choose the right charities or organizations to support. Create a giving budget: Decide how much money you're comfortable giving and create a budget that aligns with your financial goals. Research charities and organizations: Research different charities and organizations that align with your giving goals and values. Look for organizations with a strong track record of impact and transparency. Choose a giving vehicle: There are many ways to give, including cash donations, stock donations, donor-advised funds, and charitable trusts. Choose a giving vehicle that aligns with your financial goals and tax situation. Get involved: Consider volunteering your time and skills to organizations you support. This can be a great way to make a difference and build relationships with organizations you care about. Some options for making a meaningful impact in your community include donating to local charities, supporting community-based programs, volunteering at local organizations, and creating or joining giving circles. Giving circles are groups of individuals who pool their resources to make a larger impact on a specific cause or community. They can be a great way to collaborate with others and make a meaningful impact. Remember that philanthropic giving is a personal choice and should be aligned with your values, goals, and financial situation. It's important to research charities and organizations before giving and choose giving vehicles that align with your goals and values. High-Net-Worth Clients Solutions Individuals or families with substantial assets and unique financial needs We amplify their existing philanthropic giving capacity, without negatively impacting their personal or business balance sheet. In other words, we help you give more. To accomplish this, we will rely on your professional expertise in the process. These folks remain your clients, not ours. They brag about you, not us, at their country clubs and to their friends and family members. The vast majority of attorneys we work with will be deeply experienced in Estate Planning. Our CPA firms will be significantly focused on pro-active business tax planning and succession planning.
At LVED Financial Network we operate a service team model. This approach includes several experienced professionals rather than one advisor. We find that this model allows us to provide personalized service and stay in close contact with the people we serve. In addition to your dedicated service team, we have strategic resources that include seasoned attorneys, certified public accountants, home mortgage consultants, general contractors, medical professionals, and real estate agents. We believe that when the clients’ team works in concert, the clients have the greatest opportunity for pursuing their financial goals. By bringing a whole host of expertise to the table and serving as the quarterback of the extended advising team, clients are better able to maximize their time and focus on more important aspects of their lives, such as their families and careers. We believe that clients deserve planning and service specific to their unique situation. From day one, we learn about our clients’ priorities and intentions so that their financial plan—and the investments and risk mitigation strategies therein—are driven by the clients’ inimitable circumstances and goals.
Jamie McGroryJD, ChFC® RICP®
With over 38 years’ experience in insurance, Jamie has held many positions including being Vice President of Agencies, Regional Director of Estate and Business Planning, Director of Compliance Coordination and running three agencies in Maryland, St. Louis, and New York. Jamie attributes his success to having a common vision and a real desire to deliver quality experiences to brokers and clients alike. Living on Long Island, in his free time Jamie enjoys traveling, boating, fishing and spending time with his wife.
John NussleinFounder and CEO
Team Approach We operate with a service team model. This approach includes several experienced professionals rather than one advisor. We find that this model allows us to provide personalized service and stay in close contact with the people we serve. In addition to your dedicated service team, we have strategic resources that include seasoned attorneys, certified public accountants, home mortgage consultants, general contractors, medical professionals, and real estate agents. We believe that when the clients’ team works in concert, the clients have the greatest opportunity for pursuing their financial goals. By bringing a whole host of expertise to the table and serving as the quarterback of the extended advising team, clients are better able to maximize their time and focus on more important aspects of their lives, such as their families and careers. We believe that clients deserve planning and service specific to their unique situation. From day one, we learn about our clients’ priorities and intentions so that their financial plan—and the investments and risk mitigation strategies therein—are driven by the clients’ inimitable circumstances and goals. 30+ Year financial services industry veteran that operates a local financial services firm, based in Saraland, AL, dedicated to positively impacting the lives, lifestyles and legacies of the individuals, families and businesses in our community. Our dedicated financial representatives offer comprehensive financial planning to cover all areas of your financial picture, helping you achieve a secure financial future. Services include: Retirement Planning, College Planning, Investments, Life Insurance, Long-Term Care, Financial Planning. Qualifications BS in Economics @ an MBA, Bentley University, Waltham, Massachusetts Life insurance, disability income insurance, long-term care insurance and health insurance licenses. Securities/Investment Advisory Licenses Series 65 - Uniform Investment Adviser Law Examination Series 63 - Uniform Securities Agent State Law Examination Series 52TO - Municipal Securities Representative Examination SIE - Securities Industry Essentials Examination Series 7 - General Securities Representative Examination Series 6 - Investment Company Products/Variable Contracts Representative Examination Principal/Supervisory Exam Series 10 - General Securities Sales Supervisor - General Module Examination Series 9 - General Securities Sales Supervisor - Options Module Examination Series 53 - Municipal Securities Principal Examination Series 24 - General Securities Principal Examination Series 8 - General Securities Sales Supervisor Examination (Options Module & General Module) John is a Registered Social Security Analyst - RSSA @ Member of NARSSA and the RSSA ELITE team. John recently relocated to Saraland, AL (a suburb of Mobile) with his White Boxer "Gracie". John is an avid sports fan and sports memorabilia collector. 327 US-43, Saraland, AL 36571, USA30.8301868,-88.0691843
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