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Happy Father’s Day!

[ 0 ] June 10, 2014

Spectrum Financial Services, NJ, FL, Happy Father's DayFather’s Day is right around the corner.  Are you ready?  No?  Well don’t worry, we have you covered.

If you are in the Red Bank, New Jersey area:

Head on over to the Colt’s Neck Inn for a Father’s Day brunch, he is sure to love.  From 11:00 am-1:00 pm enjoy favorites such as Eggs Benedict to Chicken Francaise and everything in between.  Adults are $20.95/per person and Children 10 and under are $12.95.  Children under 3 are free.

Is your dad feeling more nostalgic?  Take him to the car show.

Cruise to the Jersey shore this weekend.   From 9:00am-4:00pm, head on over to the beach front to celebrate the 20th anniversary of the Cruise to the Shore.  Enjoy the day with food, live entertainment, and of course, classic cars.  Ronald MacDonald will be making an appearance from 1:30-3:30 pm.  All the proceeds will go to the Ronald MacDonald House.  Spectators are free, $10.00 registration fee.


Are you in the Florida area and looking to take dad to a Father’s Day brunch?  Look no further than Frigate’s Waterfront Bar & Grill.  On Sunday, June 15th from 9:00 am-3:00 pm, head on over to Frigate’s for shrimp an’ grits, corned beef hash benedict, and everything else in between.  Adults are $29.95 and kids 12 and under are $12.95.

Does dad want something more exciting?  Try kiteboarding.

Shawn of Cloud Nine Kiteboarding is the expert to go to for kiteboarding.  Shawn will take the time you need to get you where you are comfortable to be on your own.  Not sure what kiteboarding is, but it sounds like fun? Kitesurfing or kiteboarding is a surface water sport combining aspects of wakeboarding, windsurfing, surfing, paragliding, and gymnastics into one extreme sport. A kitesurfer or kiteboarder harnesses the power of the wind with a large controllable power kite to be propelled across the water on a kiteboard similar to a wakeboard or a small surfboard, with or without foot-straps or bindings.

Whatever you decide to do for dad, everyone at Spectrum Financial Services, wants to wish all the fathers out there a Happy Father’s Day! 

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Memorial Day Trivia

[ 0 ] May 21, 2014

Spectrum Financial Solutions, NJ, Memorial DayDecoration Day, which is now most commonly known as Memorial Day was first observed on May 5, 1866 by residents of Waterloo, New York. There are some other facts you may not be aware of that surround this national holiday including:

  • Significance of Red Poppy – the red poppy has become a recognized symbol of Memorial Day. However, the origins may surprise you: Poet John McCrae penned “In Flanders Field” on December 8, 1915. This later became the inspiration for the red poppy.
  • Red Poppy Factory – in 1923, the VFW recognized the poppy for the first time and coined the phrase “buddy poppy”. A factory was established in Pittsburgh PA to assemble artificial poppies and they hired veterans who were unable to find work in other areas. Today, the poppies are still assembled by veterans, oftentimes those who are hospitalized. It allows them to earn a small amount of money and also helps raise money for veterans outreach programs by the American Legion as well as the Auxiliary Poppy Program.
  • The three-day weekend – Until 1971, Memorial Day was not an official holiday name until it was changed by federal declaration. Until 1968, Memorial Day was always celebrated on May 30th, it was changed to allow for a three-day weekend when Congress passed the Uniform Monday Holiday Act.
  • National Moment of Remembrance Act – signed by President William Jefferson Clinton on December 28, 2000 this act designated 3:00pm local time as a national moment of remembrance for all the veterans lost in our wars.

War losses are significant

Since the civil war, we have lost nearly 1.25 million troops in conflicts including more than

  • 600,000 in the civil war
  • 116,000 in World War I
  • 405,000 in World War II
  • 36,000 in Korea
  • 58,000 in Vietnam
  • 4,800 in Operation Iraqi Freedom
  • 3,300 in Operation Enduring Freedom (Afghanistan)

This Memorial Day weekend as we celebrate the unofficial start of summer, take a moment out to thank a veteran for your freedom.

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Sen.: Miami Beach Ground Zero for Sea Level Rise

[ 0 ] May 7, 2014

Spectrum Financial Group, FL, Miami BeachThe insurance industry’s refusal to acknowledge climate change may hurt the insurance industry in Southern Florida, says U.S. Sen. Bill Nelson. The Miami Herald reports Nelson convened a two-hour field hearing at Miami Beach City Hall on Tuesday to draw national attention to the dangers posed by rising seas in Miami. At the hearing, a half-dozen witnesses forecast a dire future with a three-foot rise in seas by the beginning of the next century, says theHerald.

Nelson, Florida’s former insurance commissioner, also tapped an insurance industry expert to address whether the 5.7 million South Florida residents living along the nation’s hurricane highway can expect coverage under increasingly waterlogged conditions, including regular flooding due to strong high tides. Megan Linkin, a natural hazards expert with Swiss re, says the insurance industry has not accepted that climate change has caused changing weather patterns, and no companies include the risk of climate change in determining insurance rates. She adds that rising sea levels will likely make some properties so vulnerable that they could not be insured at a reasonable rate.

Nelson acknowledged that the insurance industry has recognized the United Nations’ prediction from the Intergovernmental Panel on Climate Change that more serious storms will come, but complains that “myopic vision” had kept the industry from addressing the climate matters he started asking about 20 years ago when he was the state’s insurance commissioner, says the Herald. “The fact is there’s been five to eight inches [of sea rise] in the last century and they’re going to have to build it in” to models, Nelson says.

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Here we are!

[ 0 ] January 22, 2014

Spectrum Financial has made it more convenient for you to to reach us!  You can find us on our blog  LinkedIn page,  Facebook page, and of course our website.

Check us out!


Wishing you a Happy, Healthy and Prosperous New Year

[ 0 ] December 31, 2013

Spectrum Financial Solutions, LLC, NJ, Happy New Year


Don’t put Santa in debt this Christmas season

[ 0 ] December 20, 2013

Spectrum Financial Solutions, LLC, Christmas presents“The best of all gifts around any Christmas tree: the presence of a happy family all wrapped up in each other.” – Burton Hillis, columnist and author”

It all starts with Black Friday, Cyber Monday and spills over daily through Christmas Day. Shoppers toughing out the crowds, beating down the doors to get the best prices they could get their hands on. You spend your time and money (and sanity) to get everything on your loved ones’ list.

But what happens after Christmas?

The credit card statements start trickling in one by one. All those wonderful things you had purchased for your family need to be paid in full. You silently wonder, ‘Did I go overboard?’ and that little voice in your head says, ‘Nah, did you see their faces?’ And you go on about your day content that you had done the right thing.

The excitements of those gadgets wear off before you have paid off your credit card. This holiday season we have listed a few tips so that you don’t break your bank.

  1. Cut up those credit cards. You will be paying much more than the $18.99 you paid for that doll in the long run. Use your debit card or plain hard cash.  You’ll save yourself the interest rate payment.
  2. Budget…and stick to it! You don’t have to go overboard. Your wallet will feel better in the long run if you say to yourself, “I’m sticking to this budget. Everyone will enjoy what they get.”
  3. BOGO Combo Deals!  I just purchased a pair of much needed winter boots and then I saw the sign, “Buy 1 pair of shoes and get the 2nd pair for $1!”   Needless to say, I took them on their offer. Finding deals like that means you can buy two gifts for one.
  4. Compare prices! There are several shopping apps that you can easily download and do comparison shopping before making any purchases.
  5. Nothing says LOVE like a homemade gift. Get your creativity on and have some fun.  Knit those sweaters, bake that incredible dish, host a huge party, or design a beautiful portrait. Your hard earned time means more to your loved ones than anything your hard earned money can buy.

This Christmas make sure that Santa’s bank is as satisfied as your loved ones are.

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The Intersection of Blind Faith and Unvarnished Truth

[ 0 ] December 4, 2013

Spectrum Financial Group, NJ, FL, TruthI don’t claim to be the most well read person despite the fact that I read a great deal.  I also don’t claim to be the definitive source on all things economic and financial although I have worked my entire career counseling wealthy families on financial, estate and philanthropic planning matters.

What I do claim is that I am confused about the current state of our economy, the path of our country’s future and the blindness of both the right and left sides of our political and economic spectrum.  It strikes me that we may be near the intersection of blind faith and the unvarnished truth and that there will be a reckoning in the not-too-distant future.

As cathartic as writing thoughts and feelings may be, nothing mitigates the very real concern that I hold for our futures, not to mention our children’s and our grandchildren’s futures.  While Washington, Wall Street and the press “spin” a new reality almost daily, we as individuals, who have labored long and hard to reach where we are today, see a different reality…dare I say a true reality.

Truth…our national debt is somewhere in the area of $17 trillion (to get a grasp of its true enormity, that is $17,000,000,000,000…kind of feels different when all the zeros are added!).  When you add state and local debt (estimated to be in excess of $4 trillion), it becomes an even more significant number.  Even if the Affordable Care Act works perfectly and doesn’t cost the estimated $2 to $3 trillion as projected by various sources, folks, we have a national financial planning problem.

Just our basic national debt is in excess of $54,000 for every man, woman and child in our country…another truth!  And, the national debt is growing by over $2.7 billion every day (that’s $3,000 more each year for U.S. citizen).

It’s inevitable that our country will always have some element of debt.  Frankly, it would be virtually impossible not to have national debt.  And, to be equally frank, some national debt is desirable and necessary.  But, is this level of debt, not to mention the specter of increasing national debt, sustainable?

The problem is that, when and if national debt ever shrinks, it will only be done through tax collections.  This leads to the next set of truths which are equally as disturbing as those shared above.

Truth…the national unemployment rate is 7.3%.  The broader U-6 unemployment rate, which includes the unemployed, marginally attached workers, part-time workers who want full-time work and those who have dropped out of the workforce, is currently 14.3%.  These are not people who can pay taxes to reduce national debt.

Truth…47 million Americans are on food stamp programs.  It is estimated that over 100 million Americans receive some form of living subsidy or welfare. In several states (Massachusetts and Hawaii), the maximum welfare package available to families provide pre-tax wage equivalent benefits in excess of $50,000 per year (33 states provide welfare packages in excess of $30,000 pre-tax equivalents).  This group also isn’t capable of helping to reduce debt…or likely to find paying jobs at over $24 per hour to equal their welfare packages.

Truth…47% of all Americans pay no taxes.  As politically incorrect as his pre-election comments were, Mitt Romney was right.  The top 10% of taxpayers pay 70% of all tax collections.  The middle class in our country is stretched to its limits but is honestly trying to keep their jobs, save for retirement, support their communities and contribute to the Treasury.

So it appears glaringly obvious to this writer that reducing our national debt relies on either substantial economic growth in our country and/or higher taxation.  My sense is that our economy is faced with the task of untying a Gordian knot.

Where will good paying job opportunities be created?  What is the incentive for those unemployed to seek taxable jobs in light of various welfare subsidies?  What skills will be required to enter the new workforce?

When manufacturing represents only 17% of our GDP and with over 50% provided by finance, insurance, leasing, health care, social assistance, professional, business and educational services and government, where will the opportunities for modestly educated Americans be created?   And with government accounting for 13% of GDP, one wonders how it may expand the workforce in a meaningful way.

Quantitative Easing hasn’t made great inroads in spurring new job creation, although it certainly has helped the financial markets and banking industry.  Cheap money comes at a great cost though.  The trillions of dollars spent in this program haven’t percolated down equally to most Americans but it may enhance the already burgeoning national deficit in the future.

Thankfully, it has helped keep interest rates at historically low levels.  I can’t imagine the cost of carrying our national debt if natural market forces were allowed to prevail or, in another vein, how equity markets would perform in a more organic environment.

My guess is that, over time, equilibrium will be struck but it is likely to be very painful getting there.  In light of anemic job creation and the strong possibility of continued lackluster future growth, taxation is almost certainly to rise to not only support various entitlements but also to fund the national debt.  Additionally, because of the makeup of tax receipts in our country, the burden will fall squarely on the shoulders of our wealthiest citizens.  And, with the increasingly expanding pool of entitlement recipients coupled with spin on the wealthy embraced by the press and current political factions, tax based economic expansion (easing) has significant opposition in, at least, our near future.

How that affects job creation, capital development and philanthropic programs is sure to be an ongoing debate.  The prospect of higher marginal tax rates, elimination of deductions, “millionaire taxes” and estate taxation appear to be very real and logical future developments.  And, the question of morphing into a more European tax model is also a possibility.

While this column may give one a “sky is falling” impression, that is not its intent.  This is still the greatest country in the world and opportunities abound.  The closing thought is that it is time to understand the playing field ahead of us and to be proactive in our planning.  There are many programs available to address the emerging economy that wealthy clients, families and organizations should be aware of to make the best planning decisions for the future.  We are here to help eliminate blind faith and address the unvarnished truths of our future.  Give us a call.

Content provide by George Klahre.


Happy Thanksgiving from your friends at Spectrum Financial Solutions, LLC!

[ 0 ] November 27, 2013

As another year of blessings, health, love, laughter and fun passes, we would like to give thanks on this special day.

Thank you!  Thank you for your confidence and loyalty.  Thank you for your trust and friendship.  Thank you for illuminating our year.

We hope many more blessings are coming your way!

Happy Thanksgiving from Spectrum Financial Solutions, LLC!

Spectrum Financial Solutions, LLC, NJ, FL, Happy Thanksgiving

Spectrum Financial Solutions, New Jersey, Florida

Spectrum Financial Solutions, LLC located in New Jersey and Spectrum Financial Solutions, LLC located in FL have been assisting individuals and businesses with their financial challenges for over 30 years.  Do you need to know about Privately Financed Universal Life Insurance located in FL? Call us today. Family Legacy Unitrust Edge located in NJ has been created to help families establish lifetime legacies in a unique manner that simultaneously addresses social and family needs. Applicable Federal Rates located in FL affect many of your planning tools.

George Klahre
10110 SE Osprey Pointe Dr.
Hobe Sound, FL 33455
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Happy Halloween from your friends at Spectrum Financial Solutions

[ 0 ] October 30, 2013

Spectrum Financial Solutions, New Jersey, Happy Halloween

Spectrum Financial Solutions, New Jersey, Florida

Spectrum Financial Solutions, LLC located in New Jersey and Spectrum Financial Solutions, LLC located in FL have been assisting individuals and businesses with their financial challenges for over 30 years.  Do you need to know about Privately Financed Universal Life Insurance located in FL? Call us today. Family Legacy Unitrust Edge located in NJ has been created to help families establish lifetime legacies in a unique manner that simultaneously addresses social and family needs. Applicable Federal Rates located in FL affect many of your planning tools.

George Klahre
10110 SE Osprey Pointe Dr.
Hobe Sound, FL 33455
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Not Planning to Buy Health Insurance? Here’s What’s Going to Happen to You

[ 0 ] October 16, 2013

Spectrum Financial Solutions, NJ, FL, Health Care Reform Tax PenaltiesIt may seem like a clever idea to save yourself cash by not purchasing health insurance, but with Obamacare kicking in, you’ll have penalties to pay, which could cost you big bucks in the long run.

Not only are you playing financial Russian roulette – you could be forking out tens of thousands or hundreds of thousands of dollars if you’re injured in an accident or become seriously ill – you’ll also have to pay a penalty to the federal government for flouting the law, costing you hundreds or thousands of dollars more.

A wiser decision if you’re uninsured is to start shopping on your state health exchange, which opened Tuesday — with glitches – as a key part of health care reform.

It’s OK if you feel at a loss about the Affordable Care Act, which is also known as Obamacare. You’re not alone. A newly released survey by the Commonwealth Fund found that only 4 in 10 adults were aware of the health exchanges and the financial subsidies available to help cover costs when you buy insurance there, and only one-third of those without insurance were aware of the new way to shop for health insurance.

In the first quarter of the year, 46 million Americans didn’t have health insurance, according to the U.S. Centers for Disease Control and Prevention. The establishment of the state health exchanges, or insurance marketplaces, is designed to reduce the number of uninsured.

Who needs insurance?

Starting next year, almost everyone will need to be insured. You can purchase that insurance on your own or through the exchange, have it through your employer, or have it provided by government programs such as Medicare, Medicaid, the Children’s Health Insurance Program, TRICARE and veterans health insurance programs.

There are some limited exceptions, such as for those who earn a very low income or are members of certain religious groups, as shown in this graphic by the Kaiser Family Foundation.

While you can start shopping for insurance on a state exchange now, the policies don’t take effect until Jan. 1.

What if I don’t buy insurance?

If you skip the insurance, you’ll pay a penalty. For 2014 the fine is $95 for an individual or 1 percent of your income, whichever is greater, along with $47.50 per uninsured child, maxing out at $285 for the year.

But by 2016, an individual would pay $695 or 2.5 percent of your income.

The TurboTax website has a calculator to help you determine how high a penalty you’d pay.

Without insurance, you’d also face a double whammy. By 2016 you’d be forking over almost $700 to the federal government and having nothing to show for it, and still have to pay your own medical bills if you’re injured or become ill.

What will insurance cost?

The exchanges will sell four levels of policies – platinum, gold, silver and bronze. Bronze plans will have the lowest premiums, but cover only 60 percent of costs. Platinum, on the other hand, will have the highest premiums, but cover 90 percent of costs.

If you earn up to 400 percent of the federal poverty level ($45,960 for an individual and $94,200 for a family of four this year) you’ll be eligible for a subsidy, which will come in the form of a tax credit. Subsidies are based on your family size and your earnings. The less you earn, the higher the subsidy.

With the subsidies, more than half of Americans should be able to find health insurance for less than $100 a month, according to the U.S. Department of Health and Human Services, although you might choose to pay more.

There also will be caps on out-of-pocket costs. Typically, the maximum an individual will pay in co-payments and deductibles next year is $6,350, and a family’s costs will be capped at $12,700.

What if you delay?

Because you can’t be turned down for health insurance under the Affordable Care Act if you have a pre-existing condition, you might be tempted to dawdle and see if you actually get sick before purchasing insurance.

But that strategy could easily backfire.

You’ll only be able to buy insurance on your state health exchange through March 31, 2014. After that, the open enrollment period will run from Oct. 15 to Dec. 7 each year.

There are exceptions that allow you to purchase insurance on the exchange at any time of the year if you experience a life-changing event, such as moving to a new state, getting married, getting divorced, or having a baby.

While you can purchase insurance outside the exchange at any time, you won’t be eligible for a government subsidy, which is one of the cornerstones of health reform.

Bottom line: Ponying up for health insurance now can potentially save you from astronomical costs down the road.

Spectrum Financial Solutions, New Jersey, Florida

Spectrum Financial Solutions, LLC located in New Jersey and Spectrum Financial Solutions, LLC located in FL have been assisting individuals and businesses with their financial challenges for over 30 years.  Do you need to know about Privately Financed Universal Life Insurance located in FL? Call us today. Family Legacy Unitrust Edge located in NJ has been created to help families establish lifetime legacies in a unique manner that simultaneously addresses social and family needs. Applicable Federal Rates located in FL affect many of your planning tools.

George Klahre

10110 SE Osprey Pointe Dr.

Hobe Sound, FL 33455


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