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6. Brigham Young University. The Church of Jesus Christ of Latter-day Saints. MTC – Full-time Missionary Service. Growth Model. Continuing Education. Upward Mobility. Benefits with ‘Matching ’. Health Insurance. Prosperity. YOU inc. Building the Business of Your Future. 6. PRIMARY.

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slide1

6

Brigham Young University

The Church of Jesus Christ of Latter-day Saints

MTC – Full-time Missionary Service

Growth Model

Continuing Education

Upward Mobility

Benefits with ‘Matching’

Health Insurance

Prosperity

you inc

YOUinc.

Building the Business of Your Future

slide3

6

PRIMARY

E

MPLOYMENT

O

BJECTIVES

slide4

6

PRIMARY

E

MPLOYMENT

O

BJECTIVES

YOU, Inc.

slide5

YOU, Inc.

www.glassdoor.com

Jobs

Categories

Information Sources

Wages & Salaries

By Job Title

Current & Former Employees

By Industry

Interview Candidates

Bonuses

By Company

Companies Themselves

Benefits

By Location

News Sources

Interview Questions

Recent Company News

Office Photos

Company Reviews

slide6

A Dollar in Incomevs.A Dollar inNet Worth

YOU, Inc.

. . . Wealth accumulation is shifting from earned income (salaries) to unearned (investments); and control of wealth is shifting from institutions to individuals.

Ernst and Young Center for Business Innovation

Harvard Business School Press

Builder of the HUMAN ASSET

The most important form of capital is human capital; people are beginning to see themselves as assets.

A Quantifiable HUMAN VALUE

HUMAN CAPITAL

HUMAN EQUITY

slide7

A Dollar in Incomevs.A Dollar inNet Worth

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

NET

WORTH

ASSETS

LIABILITIES

slide8

Financial Assets

- Liabilities

______________

YOU, Inc.

= Net Worth

A Dollar in Income vs. A Dollar in Net Worth

$1,000 Income

- 900 Expenses

$ 100 Savings / Investment

(Increase in Net Worth)

$100 Investment (Net Worth)

Required $1,000 of Income

EMPLOYER ADDS $100 to 401k

$100 Investment (Net Worth)

Equivalent to $1,000 Pay Increase!

Employee Net Worth Options

Income

Employer Benefits

Focus

  • 401(k) Contributions
  • HSA Contributions

Net Worth

  • Deferred Compensation
  • Pension Plans
  • ESOP Stock Option Plans
  • Stock Purchase/Ownership
  • and . . .
slide9

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The Pre-Tax Equivalency Formula

slide10

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

Savings

1 (minus) Tax Rate

slide11

Savings

1-Tax Rate

Pre-Tax Equivalency =

Assumptions

Taxes:

Federal = 25%

State = 8%

FICA = 7.5%

Total = 40.5%

25% Federal Income Tax

Taxes:

Federal = 25%

State = 8%

Total = 33%

8% State Income Tax

7.5% FICA Tax

401K Contribution

HSA Contribution

Contribution

$1,000

$1,000

$1,000

$1,000

=

$1,500

=

=

=

$1,681

1 - .33

.67

1 - .405

.595

Earnings

$1,500

$1,681

Tax

$500

33% Taxes

$681

40.5% Taxes

Taxes 50% of Spendable Income

Taxes 68% of Spendable Income

Spend

$1,000

$1,000

Taxes on Earnings = 33%

Taxes on Earnings = 40.5%

Taxes as a % of Spending = 50%

Taxes as a % of Spending = 68%

slide12

YOU, Inc.

The Qualified Retirement Plan Multipliers

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

Salary Index Match

Employer Match

Tax Match

MDC

slide13

The Qualified Retirement Plan Multipliers

QRP

a.k.a. 401(k)

$10,500,000

1st

Million Dollar Choice TM

$2,000,000

$3,000,000

2nd

Tax Match

50%

$6,000,000

$6,000,000

100%

3rd

Employer Match

$10,500,000

4th

Salary Index Match

75%

5th

Future Million Dollar ChoicesTM

$3,000,000

$2,000,000

slide14

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

The Behavioral Realities of Qualified Retirement Plans

slide15

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

1 - The work is all done by someone else

2 - Money withdrawn from a paycheck is not missed

3 - There are substantial penalties for early withdrawal

slide16

Health Savings Accounts (HSA)

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

slide17

13 HSA Benefits

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

1 Save Taxes

2 Provider Discounts (Debit Cards)

3 You Care

4 Younger People – Better Benefit

5 Insurance for Life (Portable)

6 Individual Premiums Less Than Group

7 Preventive Health Care

8 Doctors Prefer Fee-For-Service Plan

9 More Policy Options

10 Employer Bankruptcy – No – employee impact

11 Personal Medical Information is Private

  • 12 Non Traditional Expenses
  • 13 Medical Payments with Non-HSA Dollars
slide18

Cafeteria Plans / Flex Spending Plans

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

HSA

Cafeteria Plan

CONTRIBUTIONS

Use it . . . Or lose it!

slide19

Cafeteria Plans / Flex Spending Plans

YOU, Inc.

  • Health expenses deductible not
  • covered by health insurance

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

  • Employer Sponsored
  • Employee projects and
  • contributes health expenses
  • No taxes paid on contributions
  • Annually USE IT or LOSE IT
  • < 2% of contributions are unused
  • Taxes Saved compensate for
  • potential contributions lost
  • Immediately elect to invest
  • taxes saved

GREAT R.E.S.I.R.V. !

slide20

Stock Options / ESOPS

YOU, Inc.

Profit Sharing Plans

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

Stock Options / ESOPS

Warrants

Bonus Plans

EmployeesOWNthe Company

slide21

GROUP INSURANCE

YOU, Inc.

Group Life

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

Stock Options / ESOPS

Group Insurance

Group Disability Income

Caveat:

Only less expensive if employee

less than a preferred risk

red = pre-existing medical condition

slide22

YOU, Inc.

Education Benefits

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

Stock Options / ESOPS

Group Insurance

Education Benefits

slide23

EDUCATION BENEFITS

YOU, Inc.

The Employer:

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

Stock Options / ESOPS

Group Insurance

Education Benefits

pays down a Student Loan

provides an ongoing education benefit

slide24

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

Stock Options / ESOPS

Group Insurance

Education Benefits

Start a Business That Builds Net Worth

Start a Business That Builds Net Worth

slide25

Is your businessa way to‘make a living’

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

Stock Options / ESOPS

Group Insurance

Education Benefits

Start a Business That Builds Net Worth

or a way to‘build Net Worth’

“We have interviewed many people worth $2 or $3 million who have total realized annual household incomes of less than $80,000.” Page 56

  • “How much does the typical American household realize in income each year? About $35,000 to $40,000, or nearly the equivalent of 90 percent of its net worth” Page 56
slide26

Businesses that Enhance Your Probability of Success

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

Stock Options / ESOPS

Group Insurance

Education Benefits

Start a Business That Builds Net Worth

Businesses that Enhance Your Probability of Success

http://images.businessweek.com/slideshows/20110118/most-and-least-profitable-business-types/slides

slide27

10 Most Profitable Businesses

10 Least Profitable Businesses

1 – Accounting, Tax Preparation, Bookkeeping, and Payroll Services

88 – Hardware and Plumbing and Heating Equipment and Supplies Merchant Wholesalers

2 – Offices of Dentists

89 – Cement and Concrete Product Manufacturing

3 – Legal Services

90 – Printing and Related Support Activities

4 – Offices of other Health Practitioners

91 – Household and Institutional Furniture and Kitchen Cabinet Manufacturing

5 – Other Finance Investment Activities

92 – Lumber and Other Construction Materials Merchant Wholesalers

6 – Offices of Physicians

7 – Outpatient Care Centers

93 – Foundation, Structure, and Building Exterior Contractors

8 – Death Care Services

9 – Other Professional, Scientific, and Technical Services

94 – Building Material and Supplies Dealers

95 – Utility System Construction

10 –Child Day Care Centers

96 – Highway, Street, and Bridge Construction

97 –Nonresidential Building Construction

slide28

Franchises

YOU, Inc.

95% chance of 5 year success

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

Stock Options / ESOPS

Group Insurance

Education Benefits

Start a Business That Builds Net Worth

Businesses that Enhance Your Probability of Success

Multi-Level Marketing

99% fails to meet expectations

slide29

YOU, Inc.

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

Stock Options / ESOPS

Group Insurance

Education Benefits

Start a Business That Builds Net Worth

Businesses that Enhance Your Probability of Success

The Eight Engines of Net Worth

The Eight Engines of Net Worth

slide30

EIGHT ENGINES OF NET WORTH

YOU, Inc.

1 - Investment Contributions / Savings

A Dollar in Income vs. A Dollar in Net Worth

The Pre-Tax Equivalency Formula

The QRP Multipliers

The Behavioral Realities of QRPs

Health Savings Accounts

Cafeteria Plans / Flex Spending Plans

Stock Options / ESOPS

Group Insurance

Education Benefits

Start a Business That Builds Net Worth

Businesses that Enhance Your Probability of Success

The Eight Engines of Net Worth

2 - Investment Growth

3 - Real Estate Contribution

Leverage

4 - Real Estate Growth

5 - Debt Reduction

On Financial Assets

6 - Increasing Value of a Business Net Worth

7 - Being Born in a Family of Wealth

8 - Actors, Athletes, Lottery Winners

slide31

6

PRIMARY

E

MPLOYMENT

O

BJECTIVES

slide32

6

Brigham Young University

The Church of Jesus Christ of Latter-day Saints

MTC – Full-time Missionary Service

Benefits with ‘Matching’

Growth Model

Growth Model

Continuing Education

Upward Mobility

Upward Mobility

Health Insurance

Benefits with ‘Matching’

Health Insurance

Continuing Education

Prosperity

Prosperity

slide33

6

Brigham Young University

The Church of Jesus Christ of Latter-day Saints

MTC – Full-time Missionary Service

Growth Model

Continuing Education

Upward Mobility

Benefits with ‘Matching’

Health Insurance

Prosperity

slide34

Financial Assets

- Liabilities

_______________

= Net Worth

ONE MILLION DOLLARS

NET WORTH

INCOME

$1,000,000

x

.01

=

$10,000

$10,000

$10,000

x

2

=

$20,000