Duell Wealth Preservation
Owner and Founder
Gary Duell is the Owner and Founder of Duell Wealth Preservation, an Oregon Registered Investment Adviser firm. Gary and his team know Health and Life Insurance is more than protection and risk reduction, it is a financial tool that helps secure the future of their clients retirement and gives them the freedom to experiment with new ideas and realize the passions that they put on hold while they are building a career and raising a family. That is why they specialize in insurance and financial products that help provide financial security such as Life Insurance, Annuities, and Long Term Care.
Gary provides comprehensive financial plans and the appropriate insurance and investments to implement them, continuing ethics education classes for insurance agents, as well as public seminars. He is currently on the faculty of Portland Community College’s Community Education department to provide retirement education to pre & current retirees.
Gary was born in Garden City Kansas, moving with his family to Salem, Oregon at the age of 5. He graduated from Willamette University in 1974 with a double major in psychology and philosophy. There being a scarcity of philosophy jobs, Gary took a harrowing nine-month stint at Oregon State Hospital as a psychiatric security aide on the women’s maximum security unit. “One Flew Over the Cuckoo’s Nest” was filmed there during that time, which only added to the chaos. The experience prompted Gary to change careers. He graduated from Willamette U. again, in 1977, with an MBA. After 18 years with Farmers Insurance, first as an underwriter, then supervisor, and then as an agent, Gary left in 1996 due to the purchase of Farmers by British American Tobacco. In 1997 he completed the last series of courses and exams to get the Chartered Financial Consultant (ChFC) designation from The American College at Bryn Mawr PA.
Gary served a three year term on the Clackamas County Economic Development Commission and was chair of the Surface Water Management advisory committee. He was Treasurer on the Clackamas Community Land Trust board of directors and helped merge the CCLT with Proud Ground, their Portland counterpart. He is also a charter member, past President and current Treasurer of the Happy Valley Business Alliance. Gary loves what he does mostly because of the people he gets to work with. Many clients and friends have been made over the years.
B.S. in Philosophy & Psychology 1974, Willamette University
MBA 1977, Willamette University
Chartered Financial Consultant (ChFC) 1997, The American College
WARRANTIES & DISCLAIMERS
All information offered on this website is for guidance and informational purposes only and should not be considered specific advice. This website and information are not intended to provide investment, tax, or legal advice. Every situation is unique. You should speak with your adviser prior to making any investment decisions. Advisory services are offered through SGL Financial, LLC (“SGL”), an SEC registered investment adviser, and Gary R. Duell (“Duell”), an Oregon registered advisory firm. Insurance products and services are offered independently through individually licensed and appointed insurance agents in appropriate jurisdictions.
SGL is an SEC Registered Investment Adviser located in Buffalo Grove, IL and Gary R. Duell is an Oregon Registered Investment Adviser. SGL and Duell may only transact business in those states in which they are registered, notice filed, or qualify for an exemption or exclusion from registration requirements. Duell Wealth Preservation’s web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of this web site on the internet should not be construed by any consumer and/or prospective client as a solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the internet. Any subsequent, direct communication by an investment adviser representative of SGL or Duell with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of SGL or Duell, please contact the SEC or your state securities regulator for further information. A copy of SGL’s or Duell’s current written disclosure statement (Form ADV 2A) which discusses SGL’s and Duell’s business operations, services, and fees is available at the SEC’s investment adviser public information website www.adviserinfo.sec.gov or from Duell Wealth Preservation upon written request. SGL and Duell do not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Duell Wealth Preservation’s web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
The information contained herein has been compiled from sources deemed reliable and it is accurate to the best of our knowledge and belief. However, SGL, Duell, and Duell Wealth Preservation cannot guarantee its accuracy, completeness, and validity and cannot be held liable for any errors or omissions. Changes are periodically made to this web site and may be made at any time.
All information contained herein should be independently verified and confirmed. SGL Financial, LLC, Gary R. Duell, and Duell Wealth Preservation do not accept any liability for any loss or damage whatsoever caused in reliance upon such information.
Again, readers are advised that the material contained herein should be used solely for informational purposes.
Past performance may not be indicative of future results. Therefore, no current or prospective client should assume that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended or undertaken by Duell Wealth Preservation made reference to directly or indirectly by Duell Wealth Preservation in its web site, or indirectly via a link to an unaffiliated third party web site will be profitable or equal the corresponding indicated performance level(s). Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client or prospective client’s investment portfolio. Historical performance results for investment indices and/or categories generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the payment of which would have the effect of decreasing historical performance results.
As stated above, different types of investments involve varying degrees of risk, and therefore there can be no assurance that the future performance of any specific investment or investment strategy will be profitable. Certain portions of Duell Wealth Preservation’s website (i.e. newsletters, articles, commentaries, etc.) may contain a discussion of, and/or provide access to, various positions and/or recommendations made by Duell Wealth Preservation and/or those of other investment and non-investment professionals as of a specific date. Due to various factors, including changing market conditions, such discussions and/or positions may no longer be reflective of current position(s) and/ or recommendation(s). Moreover, no client or prospective client should assume that any such discussion or information presented serves as the receipt of, or a substitute for, personalized advice from SGL, Duell, Duell Wealth Preservation, or from any other investment professional. SGL, Duell, and Duell Wealth Preservation are not a law firms or accounting firms, and no portion of the web site content should be interpreted as legal, accounting or tax advice.
Duell Wealth Preservation throughout this website has provided links to various other websites. While we believe this information to be current and valuable to its clients, we provide these links on a strictly informational basis only and cannot be held liable for the accuracy, time sensitive nature, or viability of any information shown on these sites.
SGL FINANCIAL, LLC IS AN SEC REGISTERED INVESTMENT ADVISER. GARY R. DUELL IS A STATE REGISTERED INVESTMENT ADVISER. INFORMATION PRESENTED IS FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT INTEND TO MAKE AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF ANY SPECIFIC SECURITIES, INVESTMENTS, OR INVESTMENT STRATEGIES. INVESTMENTS INVOLVE RISK AND UNLESS OTHERWISE STATED, ARE NOT GUARANTEED. BE SURE TO FIRST CONSULT WITH A QUALIFIED FINANCIAL ADVISER AND/OR TAX PROFESSIONAL BEFORE IMPLEMENTING ANY STRATEGY DISCUSSED HEREIN.
Gary Duell interviewed by Investopedia
Always spend less than you make.
Lease vs Buy calculators are all over the Internet. Which is "the best option" depends entirely on the terms of each option and your car behavior.
Regarding the latter:
- Aside from this last lease, do you view cars as nothing more than transportation, usually keeping your cars forever and driving them into the ground? If so, I would buy a dependable highly rated used car with cash.
- Do you love style, power, gizmos, and all that? Wow, I wish you didn't. But a lease may be your best bet, especially for a lesser known model that still meets your preferences. Lease terms these days usually result in a payment that is less than the depreciation and maintenance you would lose by buying a new car with cash.
- Are you an electric car devotee (like yours truly) for whatever reason (quiet ride, astonishing power, cheap fuel, saving the planet)? Will your driving habits handle the limited range? Until the technology stalls, I will only lease electric cars for both the reasons in #2, but also because the technology keeps improving and the costs keep coming down. Why would I want to get stuck with an expensive antique?
As long as you're good with the fact that cars are money-pits, use a lease vs. buy calculator to compare your options if you need to finance.
There is no simple answer. But congratulations! Let's see if you can avoid the fate of most lottery winners who go bankrupt in 5 years . . . or less. Here is the missing information I would need to give a reasonable answer:
- What is your age?
- Are you single or married? Children? Are you happy with your current lifestyle and is taking care of your family after your death more important than living it up now?
- In which state do you live? It's essential to know your total tax hit.
- What is your life expectancy? Here's a good calculator for that purpose: https://livingto100.com/calculator This is a difficult but important number because if you're 75 and the calculator says your life expectancy is 74, have a big party! If you're 35 and expect to live to 95, hire a financial planner.
- What are your debt details, i.e. amounts, terms & interest rates? Paying off debt is an investment that cannot be taken away from you (unless you carelessly acquire more!).
Depending on all of the above, there are various tax-advantaged options you could consider. This is not a -do-it-yourself issue! You need an impartial, experienced 3rd party to see through the euphoria, to soberly reflect back to you your current financial situation, and realistically project what's possible- and not possible -with this windfall.
Imagine walking into a new car dealer and asking, "I have $20-30,000 to spend on reliable transportation during my retirement." As you can imagine, they would have a lot of questions for you: Are you hauling stuff? Need a truck or van? Motor-home? Will you be taking long trips; is comfort an issue? Fuel efficiency? What's the weather like where you live? Need all wheel drive? Are you a skier? How many passengers will you have? Need GPS? And so on.
Consumers, and far too many advisors, have somewhat jaundiced and narrow views of annuities, thanks to the likes of Ken Fisher and Suse Orman. The term "annuity" simply means "stream of income." What a horrible thing! These days, you can structure that stream just about any way you please. Hence my car-buying analogy.
Your mention of annuity interest rates makes me think you're looking at MYGAs (multi-year guarantee annuities). MYGAs normally declare a fixed interest rate for a guaranteed period. For example, Fidelity & Guaranty Life will shortly be offering a 5 year MYGA paying 3.1% interest, which compares very well with bank CDs.
But the other two main species of annuities are Variable (the account value can increase or decrease) and Fixed (absent withdrawals, the account value cannot decrease). Investopedia has excellent discussions of these dramatically different families of annuities. The most cost-effective of these two, in my experience, is Equity Indexed Annuities (EIAs). I like them because they permit me to create a definite plan; properly structured, they allow me to guarantee a specific minimum income stream at any point in the future while protecting my client from sequence of returns risk. If rates rise, so will the annuity's. In the meantime, you usually have annual 10% penalty-free liquidity should you want to dollar cost average back into the market if our current bubble bursts.
You ask the key question: What should I do with the money in the meantime? Or, in other words, what's the opportunity cost for waiting for more favorable interest rates? The number one thing you should do it not lose it. And an EIA is a great place to stash it. Having said all that, in the absence of a comprehensive plan, especially regarding taxes and cash flow, it would be impossible to say whether one, a combination of, or any annuities at all would be appropriate.
Those are two big questions:
- How to find a reputable flat fee financial advisor, and
- How to make your wished for retirement happen ASAP
You have a lot of moving parts in the mix there! (Let me answer your first question last.)
- The key is your average monthly budget, which appears to be around $4500. That is the starting point.
- Then I would need to know any reductions or increases that loom in the future. For example, when will your mortgage, the TSP loan & remaining credit card debt be paid off?
- Next, we add up all your guaranteed sources of income and subtract that from your budget to see if we have a surplus or a shortfall. Common sources are:
Social Security, pensions, annuitization of FERS, TSP accts & rents, bond ladders, Treasuries, etc.
- If there's surplus, we cheer! If there's a shortfall then we calculate whether your assets are sufficient to cure it, including future inflation.
You don't mention Social Security at all but I hope you turned yours on at age 70. And if your wife is 66+, she should be taking spousal until switching to her own benefit at 70. Based on your work histories, I suspect Social Security alone will meet most of your budget, unless you both filed early. Please register for online accounts to find your benefit amounts and eliminate paper statements. There is no substitute for a good advisor with software that can juggle all these puzzle pieces and show you in real time what you need to do and when. Find someone close to you and then look them up on brokercheck.finra.org. Then also check with your own state's regulatory agency. Not to brag, but my own tagline applies: Look for advisors who are holistic, unbiased, transparent & legal fiduciaries. Finally, don't engage with anyone who has mandatory arbitration clauses in their contract or with anyone who doesn't have a contract!
Gary R Duell