Gary Duell

ChFC
Personal Finance, Retirement, Investing
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“Gary Duell, Owner and Founder of Duell Wealth Preservation, wants his clients to receive the highest level of personal service and professional support that he can provide.”
Firm:

Duell Wealth Preservation

Job Title:

Owner and Founder

Biography:

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.

Education:

B.S. in Philosophy & Psychology 1974, Willamette University
MBA 1977, Willamette University
Chartered Financial Consultant (ChFC) 1997, The American College

CRD Number:

2510814

Videos
  • Gary Duell interviewed by Investopedia
All Answers
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    Investing, Annuities
When is a Tax Deferred Variable Annuity a good strategy?
100% of people found this answer helpful

As with virtually all answers to these questions, I have to plead "Not enough information".  A correct and useful answer would have to take into account at least the following:

1.  What's your retirement time horizon; at what ages will your salaries end?
2.  What annualized rates of return (ROR) & inflation are you using to determine that you're "on track"?  What evidence do you have that your (or your adviser's) assumptions are reasonable?  What backup plan do you have if you're wrong?
3. Do you have a sequence of returns risk strategy?  This is the risk of a major market correction right after you retire and begin drawing down your savings.
4. The latest research shows that your chances of outliving your money are minimized if you "floor" your basic inflation-adjusted budget and then, if you have investable assets left over you aggressively invest those for the long term.  See retirementresearcher.com
5.  What is your debt picture?  If you have high-interest consumer or mortgage debt it might make more sense to pay that down, or off, instead of investing in today's frothy market.

The variable annuity (VA) might make sense if it's being used to strategically deal with #3 & 4 above.  But I think, as part of a flooring strategy, laddered indexed annuities with income riders would be less expensive and more effective.  However, in the absence of a comprehensive plan, and side-by-side comparison of the best alternatives, it doesn't make sense to just buy a VA.

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