By Shobana Muratee
- HOUSTON –A complimentary seminar addressing “Six Key Areas of Capital Accumulation and Protection” was held on Tuesday, November 19 at the India House. It was hosted by Ramesh Cherivirala, Financial Adviser, New York Life Insurance Company. The seminar cum sales presentation was primarily open to local physicians and professionals by invite only. Presenter Brad Trevino, a practicing tax attorney from Dallas and Advanced Planning Consultant with New York Life Insurance Company, gave an overview of some of the areas that professionals and business owners normally have concerns in. Guests were duly informed that the seminar was solely for information purposes and not a way of giving legal, tax or accounting advice. In his presentation, Trevino touched on the six key areas that included: 1. Increase asset protection, 2. Reduce income tax liability, 3. Enhance retirement planning, 4. Decrease capital risk, 5. Protect income, and 6. Reduce estate cost. “The real value in the seminar is, if something here piques your interest, you can speak with Ramesh,” Trevino said pointing to the host.
While building assets in one’s practice or business, it is important make sure to protect one’s income and building a safety net for family. The greatest threats to your income are death and disability, Trevino mentioned. Income tax is another threat to assets. Professionals can tell you how to save money on taxes through a long-term, sustainable plan. They can assess where you will be in the next 20-30 years’ time. What do we do now to put ourselves in favorable tax environment? As tax laws change all the time, working with professionals will help set your goals in your favor. Narrowing the talk to cover the key aspects, Trevino said, “Do leave to chance.” Knowing your future objectives and the amount you need when you retire would allow an expert to tell you how much you need to put away to reach that goal.
“Don’t do it on your own. If you are talking about your financial future, you’ve got to go to a professional,” Trevino said, making an analogy to the risks of patients treating themselves instead of a physician. Attendees should consult their own professional advisors prior to implementing any planning strategies.
Cherivirala thanked the speaker for encapsulating an otherwise hour-long seminar in just 20 minutes, covering all the six key areas. “We have 20 attorneys and CPAs called the Nautilus Group,” he said, “that help a limited 200 agents.” Being part of the prestigious group, he could bring those resources to his clients. Cheriviral thanked his guest and Srinivas Ranga, Corporate Vice President at New York Life Insurance Company from New York. Attendees were given a questionnaire to fill out for a one-on-one meeting with the financial adviser if needed.
The elegant evening featured tasting of Macallan’s scotch with Christopher Maclaine, Bar Consultant and Cocktail Curator, explaining the flavors and pairing of three of blends: Harvest, Amber, and Honey. As Macallan does not have much peat moss; instead it has honey, papaya, citrus, toffee, and butterscotch. It makes a great entry-level Scotch especially, Maclaine said. Lana Riley, Market Manager, Edrington Americas represented Macallan on the occasion. The guests were also treated to a good spread of Indian specialties, which were served by Godavari Indian Cuisine at the conclusion.