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
Good for you for thinking ahead and for wanting to accumulate an asset for your child! It is far more important, however, to ask why and how to invest for your child than choosing the specific investment.
For example, if your child's education is important to you (the why) you should consider a 529 or College Savings plan (the how). Many states offer income tax deductions for some of your contributions so it may be best to explore the plan(s) offered by your state of residence. Generally, growth in the account is tax-deferred and is not taxed when withdrawn to pay for qualifying educational expenses.
In addition, these contributions are considered gifts to your child so you can currently contribute up to $15,000 per child per year without triggering reporting requirements. Contributions over that amount aren't necessarily taxable, you would just have to report them to IRS on form 709. They would count against your lifetime exclusion amount of $11.2 mil. a fairly safe threshold for most of us! Maximum total cumulative contributions vary by state, from $250k-$520k
Now we can talk about the "what". States have model target date portfolios in their plans. What that means is you pick a target date for college, in your case 17 years from now, or 2035. The closer your child gets to the target date the more conservative the mix of investments in your 2035 portfolio becomes.
This is just one example of how asking "why" first can help direct you to the best why to contribute to and own an investment.
YES! You would only be taxed on the converted amount. Market timing is perilous, however. What if the market continues to fall another 20%, for example? Until 1/1/2018 Roth conversions could be "recharacterized" if this happened. That is, you could undo the conversion and then re-do it at the lower account value. No more.
It all depends on whether your annual income is $115,000, $11,500 or $115.00. Assuming it is the first, if your budget permits plow the maximum of $18,500/yr. into your employer 401(k)s. Once you're over age 50 you can kick in another $6000/yr. Both these contribution limits supposedly increase with inflation. These pre-tax contributions are the most dramatic way available to you to reduce taxes. They will come at a future price, however, if you retire into a higher bracket and/or tax rates rise dramatically. So it's good to hedge your bet with some Roth IRA contributions too. But they won't save you any taxes now.
Since the deductiblity of student loan interest is now limited to $2500/yr. you might want to pay down the nondectible interest on the car and then go after the student loan. This calculator can help you decide:
It all depends on these three interactive factors:
1. Your mortgage interest rate- if your effective mortgage interest rate is higher than an after-tax risk-free rate of return then you should pay it off. If it is lower, then you should invest the $95,000 and collect the interest. Since it appears you can still deduct 100% of your mortgage interest under the new tax law (your interest & property taxes are under $10k) it appears you are solidly in the new 22% Federal bracket (filing single, no State taxes). So, if your interest rate is 4%, that saves you 22% in taxes so the effective rate is 0.78x4% = 3.12%. So to beat that you would have to earn higher than a risk-free pre-tax 4% (3.12/0.78 =4%).
2. How aggressively your portoflio is invested- If you plan to retire soon then you are susceptible to sequence risk, that is, the risk that your portfolio will tank right after you retire. Losing money while you are also spending it down is a scenario from which it is difficult to impossible to recover. Paying off your mortgage would capture at least some of these wonderful gains of the last 10 years and permanently reduce your budget.
3. Your retirement budget- If you can retire and meet your budget with or without a mortgage payment then don't pay it off if you benefit from the math in #1 above.
But before invoking all that math, there is a lot to be said for being debt-free in retirement! So if that would give you peace of mind then our analysis should be skewed in that direction since paying off your mortgage wouldn't put much of a dent in your retirement savings. And, it would give you a little bit of protection from sequence risk. You should be sure at least a third of your $1.3 mil. is in equity indexed annuities so you have your budget "floored" or guaranteed.
It's unclear what you mean by "budget my retirement savings" while "not looking to invest". That seems contradictory; what if your current allocation is entirely inappropriate? That will be key in your objectives of meeting your budget while paying down some debt. But to answer your question, an hourly fee adviser would probably be your best bet unless you're comfortable using a roboadviser.