News & Events

Making the Most of Your Survivorship Benefits

Pension Maximization, in short, is defined as making the most of your survivorship benefits – it enables you to take your full pension benefits at retirement while using a life insurance policy to replace the lost benefits to your spouse should you pass away first.  When implemented properly, a Pension Max strategy can save money, provide flexibility and give you control of your survivorship benefits. Traditionally, if you are married and eligible to receive a pension from your company you will have to decide from one of the two options: Single-Life Option: Take your full pension benefits at retirement, leaving… Read more

Preparing for the Unexpected

In a recent article from Insurance News, Cyril Tuohy writes on the topic of “Critical Illness, a Fate Worse than Death“. This interesting article explores the effects a sudden and unexpected illness can have on an individual financially. A few studies indicate that in more than half the cases, individual’s are forced into bankruptcy or forced to dip into retirement plans or college savings. While it’s impossible to predict the future, let alone an illness or financial loss, being financially prepared for the unexpected is not as hard as you would think. At Kenvin Financial Services, Mitch Kenvin works closely… Read more

A Different Way to Pay

You may dread that day every year. It’s October. There’s a cool breeze blowing as you walk to the mailbox. And then, your heart sinks. Your property tax bill has arrived. Ok, so maybe that’s a bit dramatic but no one likes to pay that bill every year! Kenvin Financial Solutions has a different way to pay.  Did you know you can borrow money from your whole life insurance policy and often not pay any tax on the loan? Whole life insurance policies build cash value over time. You can borrow from the policy and not be taxed as long… Read more

What is Pension Maximization?

You’ve reached retirement. Now they’re are just a few decisions between you and your dream. If you’re married and nearing retirement, a big decision you may face is pension payout. You have two options: single-life payout or joint-and-survivor payout. Taking the single-life payout can give you the most money for your retirement years. It’s called pension maximization. The retiree chooses the higher payout with no death benefit for his or her spouse. The couple then uses that extra money to purchase a life insurance policy that will provide income if the retiree passes away first. Choosing this option can give… Read more

What do you want to be when you grow up?

It’s a question you’ve heard since you were a child, but one that’s still relevant today. What do you want to do when your work life ends and retirement begins? Maybe you want to be a world traveler or an avid golfer. Perhaps you want to take up a new hobby or spend more time with the grandkids. Northwestern Mutual surveyed more than 1,500 people for the company’s Planning and Progress 2013 study. Only 44% said they’re financially prepared to live to the age of 85. More than 4 in 10 Americans expect to work at least to the age… Read more

Let’s Talk Educational Planning

As parents, we have big dreams for our children and their futures, and planning for college is a big aspect to that. The cost of education shouldn’t stand in the way of your dreams or your child’s dreams. Here at Kenvin Financial Services, we can help you plan for the future. On Thursday, August 8, 2013 Mitch Kenvin will be speaking to parents of Yorktown Education in Plano, Texas on the topic of Educational Planning. To learn more about how Kenvin Financial Services can help you plan for the future contact us today! About Yorktown Yorktown Education is the academically… Read more

WHY IS A COLLEGE EDUCATION WORTH IT?

Universities are getting less state support these days and the additional costs are being passed on to you. But the cost of college shouldn’t be a factor when your child graduates high school. A degree is a valuable tool. According to the U.S. Department of Education, young adults with a bachelor’s degree earn an average of $16,000 more a year than a person with a high school diploma. Now is the time to start planning for your child’s future. What if he wants to go out of state? What if she gets a full scholarship? The Texas Tomorrow Fund or… Read more

Northeast Tarrant County Bar Association Happy Hour

On the week of August 18th Kenvin Financial Services will be sponsoring a Happy Hour for the Northeast Tarrant County Bar Association.  More details coming soon.

BORROWING PUTS BURDEN ON COLLEGE GRADUATES

Walking across the stage to get that degree is a moment of celebration. But two-thirds of students graduate with loan debt and the average amount owed is $26,600, according to a 2012 report by the Institute for College Access and Success. If your child graduates owing that amount, he or she can expect to pay roughly $150 a month on student loans for the next 20 years. That might not sound like a lot but, consider this, the starting salary for a teacher in Texas is $34,000. Add a car payment and living expenses and the bills start to add… Read more

What if you could offer your employees a retirement plan at no cost to you?

As a small business owner you have a lot to worry about. Employee loyalty and retention is a big one. Contrary to the current belief that the importance of company retirement plans have decreased in an employee’s financial planning, an employee retirement plan is the most coveted benefit right after health insurance by US workers. However, according to data from the Small Business Administration almost three-quarters of small business employers today do not offer retirement plans for their employees. Qualified retirement plans, deferred compensation plans and individual retirement accounts are all different, including the fees to manage and maintain. At… Read more