• About
  • Contact
  • Testimonials
  • Newsletter
  • More
    • Demographics & Advertising Rates
    • Terms & Conditions
Saturday, April 1, 2023
No Result
View All Result
California Business Journal
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness
California Business Journal
2- Grandmother Stock@0,25x

What He Learned From His Grandmother About Guarding ‘The Family Gold’

After Todd Halterman witnessed the plight of seniors left in a “vulnerable situation” when their spouse died, he didn’t just stand around and talk about it. He did something about it.

by California Business Journal Editorial Staff
A A
Share on FacebookShare on Twitter

Todd Halterman, one of the most influential independent private-wealth advisors in the country, has managed more than $400 million in financial assets — along with the hopes and dreams of the clients he serves – and he says he owes it all to his grandmother – actually, to both of his grandmothers.

“I got in the business 25 years ago because my grandmothers both lost their husbands,” Halterman says. “One grandfather died after an eight-year battle with Alzheimer’s. My other grandfather died early and his pension died with him. I was totally stunned that the systems that should have been protecting them did nothing of the sort. I volunteered to help them figure out what they were going to do with their lives now that they didn’t have their lifelong confidantes.”

As Halterman navigated the ‘wheeling and dealing’ with lawyers, accountants, insurance agents, stockbrokers and bankers, he learned a lot about what “not to do.”

“I learned how lazy some people in my industry can be,” he says. “They all have an objective in mind and it’s usually not solving the right problem. I got mad.  I started volunteering my time in the business to advocate for families — to make sure they had a life plan and that everybody was talking to each other before somebody died, not after.”

Todd Halterman has influenced more than $400 million in financial assets -- and he says he owes it all to his grandmothers.
Todd Halterman has influenced more than $400 million in financial assets — and he says he owes it all to his grandmothers.

As he grew his practice, Halterman witnessed the plight of more seniors like his grandmother who was left in a “vulnerable situation” when her spouse died.

“When the casserole’s done being served and the meatloaf is gone and all the family has gone back home and it’s quiet, the widows and widowers are sitting there, paralyzed with fear,” he says. “I see everything they go through alone, and I stay there to help them sort it out.”

Halterman learned through the years that most seniors “aren’t just worried about outliving their money — they’re worried about outliving their pets. I can’t tell you how many animals I’ve taken to the shelter over the years because the plan that their owners wanted didn’t get followed after they were gone — nobody really cares about their animal as much as they do.”

So Halterman created a program called Our Forever Friends, a solution designed to help guarantee the foster and adoption of the ‘beloved’ pets. Supported by his legion of senior volunteers, “their trusted companions will be cared for and their welfare guarded for the life of the animal.” he explains.

“The plan allows families to save on taxes, protect their pets and leave a lasting gift that will help other people save their animals. Our clients are remembered for their values not their checkbooks. Their name will be synonymous with protecting all of our community’s animals while sustaining the charities that care for them – like Benton-Franklin Humane Society.”

He has seen the debilitating effects of loneliness and isolation in seniors so he also founded Active4Life, which provides social activities and education for seniors, through wine tastings, lunches, museum tours and painting classes.

ADVERTISEMENT

“Seniors often feel isolated after losing a spouse or retiring – their habits are disrupted,” Halterman says. “We help them develop new habits – we host fun events in the community to meet new people and just enjoy being retired and living on purpose.”

The group has grown from 28 people to 200 in less than a year in his home community in Washington.

Newly redesigned $100 notes lay in stacks at the Bureau of Engraving and Printing on May 20, 2013 in Washington, DC. The one hundred dollar bills will be released this fall and has new security features, such as a duplicating portrait of Benjamin Franklin and microprinting added to make the bill more difficult to counterfeit. (Photo by Mark Wilson/Getty Images)

Halterman has an overarching goal for all his clients – what he calls “disinheriting the IRS.” He lays it out straight: “When you die, there are three organizations you can leave your assets to. You have to pick two by law.  One is charities, one is loved ones, and the other is the IRS. I’ve never in 25 years had any family tell me they wanted the IRS to inherit their assets.”

He starts by identifying the charities his client is interested in. “Resources that would have gone to the IRS now go to a charitable mission in the name of the family. That’s how buildings get built, that’s how ministries get set up and established in sustainable ways.”

Halterman has come up with a blueprint for families to minimize taxes and grow and protect their wealth for a lifetime. He calls it the:

Six Pillars of Financial Empowerment.

PILLAR 1: Map out a life plan.

Write down a clear vision of how you and your family wish to live and play during your lifetime, building your dreams and hopes into everyday life.

PILLAR 2: Establish an income plan.

Once a clearly defined path is created, figure out your number for income.  It’s a customized solution to getting the paychecks you need every day and the play checks you want for life.

PILLAR 3:  Carve out a tax plan.

Taxes are necessary. Building a tax plan can help to mitigate liabilities, increase income and maximize profit while not giving too much away to the IRS.

PILLAR 4: Create a legal plan.

Life happens. You need to shield your assets through a well-rounded estate and personal succession plan to protect your estate from lawsuits and accidents.

PILLAR 5: Manage your risk.

You can transfer risk from your checkbook to insurance companies or employ other legal strategies. Risks that are improperly priced will derail most retirement plans.

PILLAR 6: Choose the right investments.

Decide what investments work for you to provide the income and growth for confidence and clarity in your life. It’s easy when you determine how you want to live, and how you want to be remembered when you die.

Halterman successfully implements this plan to teach, coach and counsel individual families. “I don’t just build wealth,” he says. “I want people to understand that money is just a way of keeping track. It’s really about values and how people live their life and want to be remembered.”

Tags: adoptionBenjamineducationEstatefinancial advisorgoldGroupindependentinsuranceinsurance companiesinvestmentslawlawsuitsMuseumpensionretirementstockbrokerssustainabletaxtaxesTodd Haltermanwealth advisorwine
ADVERTISEMENT
California Business Journal Editorial Staff

California Business Journal Editorial Staff

Related Posts

Paul Griffin III, a fifth-generation member of the Griffin family homebuilding empire and CEO of Griffin Living.
More than a million people will join the senior population over the next 10 years: Here’s how one developer is preparing to meet their needs
gold
Ways to invest in gold ... without having to store it
avalon_002
The New Model of Resort Style Senior Living
advertisement
ADVERTISEMENT
1REALTOUR-SAN DIEGO-WEB DESIGN

Commercial Relationship Manager 3, Wells Fargo Bank, N.A., Los Angeles, California:

Represent the bank in developing and maintaining client relationships within middle market and mid-corporate banking.

Position requires a Bachelor’s degree in Business Administration, Finance, or related field and 3 years of experience. Requires up to 20% travel.

To apply, send resume to recruiter_inbox@wellsfargo.com and reference Requisition # 000329 in the subject line.

Facebook Twitter LinkedIn LinkedIn Instagram Youtube
C B J   LOGO  SVG-01
  • About
  • Contact California Business Journal
  • Testimonials
  • Demographics & Advertising Rates
  • Terms & Conditions

Categories

  • Art & Culture
  • Business
  • California Hotel Listings
  • Daily Updates
  • Editor's Choice
  • Education
  • Featured
  • Finance
  • Food & Dining
  • Health & Fitness
  • Human Interest
  • Insurance
  • Law
  • Lawyers
  • Marketing
  • Medical
  • News
  • Newsletter
  • Opinion
  • People
  • Popular
  • Real Estate
  • Social Media
  • Technology
  • Uncategorized

CBJ Partner Firebrand Media

Laguna Beach Independent Newspaper
 Laguna Beach City Guide
 Newport Beach Independent Newspaper
Newport Beach Country Club Magazine
  Montage Magazine
 Omni Escapes Hotel Magazine
 Bespoke Concierge New York
 Evans Hotels
 Laguna Beach Magazine
 On The Menu Laguna Beach
 Newport Beach Magazine
Coastal Real Estate Guide (NB,LB, CDM)
Monarch Beach Resort Magazine
 Pacific Coast Magazine (SoCal)
Sea Island Life Magazine
Salamander Hotel & Resorts Magazine
 View our entire portfolio

 

Most Viewed

  • Gavel, scales of justice and law books

    Lawsuit Basics: How Much Does It Cost to Sue Someone?

    0 shares
    Share 0 Tweet 0
  • Investigation: Can TriumphFX Take Your Money?

    0 shares
    Share 0 Tweet 0
  • The Impact of Covid: Racing to Buy Second Citizenships

    3 shares
    Share 0 Tweet 0
  • What to Do When an Online Casino Refuses to Pay Out Your Winnings

    0 shares
    Share 0 Tweet 0
  • The Truth About Temu: Where Is It From?

    0 shares
    Share 0 Tweet 0
  • Top 5 Flavors On Elf Bar BC5000 Review

    0 shares
    Share 0 Tweet 0
  • NFL Paychecks: How Do NFL Players Get Paid?

    0 shares
    Share 0 Tweet 0
  • Temu’s New Shipping Policy Is A Smashing Hit For Shoppers All Over the Country

    0 shares
    Share 0 Tweet 0
  • Five Reasons Why The Government Does Not Like Bitcoin

    0 shares
    Share 0 Tweet 0
  • How to Start a Telecommunication Business: A Step-By-Step Guide

    0 shares
    Share 0 Tweet 0

Latest Articles

The Hassle of Moving Can be Minimized

The Hassle of Moving Can be Minimized

Rights of Bicyclists on The Road

Rights of Bicyclists on The Road

How Is Bitcoin Used In Online Casinos?

How Is Bitcoin Used In Online Casinos?

A Guide into Securing Your Dream Car

A Guide into Securing Your Dream Car

How Strong Are Delta 8 Gummies?

How Strong Are Delta 8 Gummies?

AI Impact On The Automotive World

AI Impact On The Automotive World

Future Trends and Innovations in Camera for Computers Technology

Future Trends and Innovations in Camera for Computers Technology

The Most Difficult Aspects of Fishing Revealed

The Most Difficult Aspects of Fishing Revealed

What Actually Are Delta 10 Gummies, and How Do They Distinguish from THC?

What Actually Are Delta 10 Gummies, and How Do They Distinguish from THC?

When Is The Best Time To Move?

When Is The Best Time To Move?

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR

No Result
View All Result
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR