“Anyone can get old.  All you have to do is live long enough.”

— Groucho Marx —

For most, the realization starts to take root when you hit the age 30 milestone.

For others, it’s age 40.

But without a doubt, by the time that AARP application hits your mailbox at age 50, you begrudgingly begin to accept that some facets of your life just “ain’t what they used to be.”

• Maybe your eyesight begins to fade.
• Or any hair you have left takes on a founding fathers hue.
• You wonder when they started letting nine year olds drive cars.
• Scales begin lying to you on a regular basis.
• Sports skills wane:
• You can no longer catch up with a 90 MPH fast ball.
• Or dunk anything other than a donut

But just when you thought that aging was a passport to marginality and obscurity, some good news surfaces.

In his article Why geezers give the best investment advice, MarketWatch money and investing editor Jonathan Burton points out that “middle aged people make fewer mistakes with finances than those who are older or younger.”

Quoting one of the authors of the study, he goes on to suggest that you consider working with a financial professional between the ages of 43 and 63, because this represents the “cognitive sweet spot” for optimum financial decision making.

At this point in our blog, it’s worth a mention that the Finn Financial Group just so happens to be owned by a feller who falls smack dab into the middle of that sweet spot.  Maybe this is why so many clients continue to seek us out.

Or maybe it’s just because we know where to find the best early bird specials!

Either way, we’re happy to be validated and proud to be of service to all. 

Even you young whippersnappers are always welcome!

In yet another example of the adverse consequences stemming from some implanted DePuy metal-on-metal artificial hip devices, a number of San Diegans claim their hip surgeries poisoned them.

ABC affiliate Channel 10 in San Diego recently featured a report which focused on 62 year-old hip replacement patient Tony Stauffer who describes his painful ordeal.  The link includes an embedded video segment of the news story.

Stauffer’s attorney, John Gomez, laments the FDA’s fast-tracking of the recalled DePuy devices which may have exacerbated the problem.  Mr. Gomez represents several dozen San Diego area plaintiffs pursuing damages against DePuy.

For a personal testimony on why our firm is so interested in this particular litigation, patients and attorneys are invited to watch a short video we produced for patients pursuing remedy.

Go to ASRHipSettlement.com to view the video on our firm’s YouTube channel.

A Career of Endorsing Structured Settlements

“For the almost 40 years I’ve been practicing,
structured settlements have played an integral role
in the positive outcome of many cases I have settled.”
– William T. “Bill” Robinson III, Esq. –

Last month, members of the National Structured Settlements Trade Association were treated to a keynote address from the incoming president of the American Bar Association, William T. “Bill” Robinson III at its annual meeting in La Jolla, California.

Mr. Robinson has been included among the “Best Lawyers in America” every year since 1997 and is a founding board member of the Appellate Judges Education Institute.

During his lunchtime speech, Mr. Robinson expressed his strong support for structured settlements as a negotiation tool and as a benefit that adds “real and lasting value” for plaintiffs.

He went on to share the story of a client he represented that settled a medical negligence case via a structured settlement. His client, a young woman who was dying of cancer as a result of the misreading of a tissue slide, settled with a structure designed to provide for her two young sons after her passing. “She settled with peace of mind. She died satisfied she had done the best for her boys.”

Mr. Robinson also praised the professionalism of the structured settlement industry and extolled the value of interjecting the topic early in the settlement process.

In addition to his strong support for structured settlements, he also explained the problems confronting our justice system as a result of, among other things, the delays in the judicial appointment process.

The legal community is privileged to have a leader of Bill Robinson’s experience and passion serving as the ABA’s next president. The structured settlement industry is proud to know this esteemed body has chosen such a strong advocate of structured settlements to lead it.

Best wishes for continued Struccess!

Seems people have a penchant for going “Back to the Future.”

“Old” ideas get a fresh coat of paint and are recycled for the next generation who embrace them as their own.

Just think of all the successful TV shows that focus on a particular historical period in time but are produced a decade or more after the actual era:

• The Roy Rogers Show
• The Untouchables
• Happy Days
• That 70’s Show
• Mad Men

Whether drawn by nostalgia or simply a re-evaluation of something that once was taken for granted, our gravitation toward these and similar shows teaches us much about our values.

Not unlike the the young worker in post-Great Recession America when it comes to retirement security as it turns out.

According to Charles Wallace, writing for Daily Finance in his article “Why Young Workers Want a Good Old-Fashioned Pension,” a recent Towers Watson survey revealed that young workers value certainty more than was previously believed.

” . . . the percentage of young workers who cited their pension
plan as a reason for staying with their current employer
jumped from 28% two years ago to 43% now.”

Charles Wallace,
Daily Finance

Pensions, once a staple in corporate America that lured so many young people to a particular employer were shunned in recent years as employees sought self-directed riches in the pension-replacement retirement vehicle, the 401(k), which came to dominate the employer retirement landscape.

But the statistics on defined contribution plans like 401(k)s reveal that they have been an overall poor substitute for pensions. The average 401(k) balance is only about $60,000 according to the Center for Economic Policy and Research.

In addition, according to the Employee Benefit Research Institute (EBRI), the share of employees in a traditional defined benefit pension plan has fallen from 62% in 1979 to just 7% in 2009.

The Towers Watson survey suggests this trend may have bottomed out and may soon be on the rise again.

The world seems to have become far less certain these past few years. It’s little wonder then that people are again longing for some good old-fashioned security.

Speaking of which, we can help!

In addition to our core business of providing structured settlement products and services to a broad spectrum of clients across the country, our firm regularly assists clients looking for other types of highly secure, guaranteed cash flows. We can help you with:

• 401(k) and IRA conversions to annuities:
• “Pensionizing” your nest egg;
• Structuring Attorney Fees;
• Structuring Sales of Appreciated Assets;
• Structuring Realtor and Business Broker Commissions;
• Annuitizing Savings;
• Structuring Celebrity Endorsements

For additional information on all we offer relative to retirement security beyond structured settlements, please check out some of our archived blogs and newsletters on these topics.

Wishing you continued success, thank you for the opportunity to be of service. Please call anytime we can help.

The once trusted and highly respected Johnson & Johnson name has taken some major image hits in the last 15 months according to a recent article.  During this time, the $60 Billion company has voluntarily recalled over 50 products.

In its cover story, Johnson & Johnson’s Quality Catastrophe, Bloomberg/ Businessweek highlights a number of the products involved and suggests a systematic and widespread quality control problem of late.

Among the products recalled, the DePuy ASR metal-on-metal prosthetic hips are arguably the most troubling for the company and potentially the hardest to defend.  Michael Kelly, a partner at San Francisco’s Walkup, Melodia, Kelly & Schoenberger which represents a number of plaintiffs currently pursuing litigation over the defective hips, says that’s because marketing took priority over science.  Among other things, it is alleged that the manufacturer was aware of the defective nature of these particular products yet failed to address the problem.

Even Academia is re-thinking its curricula when it comes to J&J.  Our company’s Finn Financial Group Facebook Page  recently highlighted a video featuring University of Michigan professor Erik Gordon discussing the brand damage J&J is suffering in large part due to its handling of the DePuy situation specifically.  He suggests the ramifications will likely be felt (and studied) for years to come.

If you or anyone you know is experiencing problems with a DePuy ASR hip replacement, call us to let us know how we may be of service.

As March Madness heads into its final rounds, it seems an appropriate time to share with clients the good news that NCAA cagers aren’t the only ones rebounding.

According to A. M. Best, the life/health industry continues to recover from the financial crisis as evidenced by the improvement of key economic indicators.  Among the highlights:

• Total admitted assets improved 7.1% to $5.3 trillion;
• After tax net operating gain was $42.2 billion;
• Capital and surplus increased 8.7% to $338.4 billion;
• Net Premium Written (NPW) increased 14.5% to $543.5 billion;
  • This reflects the first time annual NPW has increased since 2008

The life insurance companies currently offering structured settlement and fixed annuity products continue to represent the creme de la creme of the life/health industry.  Highly capitalized with sound investment philosophies and long  histories of making payments on time, there’s no safer choice for your settlement proceeds or 401(k) rollovers.

Among the many positive reasons parents, courts and plaintiff attorneys choose structured settlements when settling a minor’s injury claim, one of the most overlooked is the fact that it can shield the minor’s recovery from the dreaded Kiddie Tax.

Faster than a child can grow from cradle to car keys, the Kiddie Tax can sneak up on those unprepared for it.  An article by “TaxMama” Eva Rosenberg appeared in today’s MarketWatch which highlights how problematic this tax can be.  (“Kiddie tax laws could cost you at tax time”)

Originally designed to target a small number of taxpayers who were circumventing tax laws by shifting assets into their children’s names, Kiddie Tax can be the bane of an otherwise meaningful personal injury settlement if not considered prior to finalizing the recovery.

When settling personal injury claims, this tax can easily be minimized or eliminated altogether if a properly designed structured settlement is crafted prior to securing court approval for the settlement.  Structured settlement proceeds, which flow to the recipient 100% income tax-free if the result of a personal, physical injury, can be tailored to meet specific, anticipated future needs.  And to avoid saddling the minor with an unnecessary tax burden.

A structured settlement is not always the best option for a minor settling an injury settlement.  But anyone who goes to court without first considering the impact of ALL taxes, in addition to rate of return and security, could unintentionally cost the minor money.

Best advice?  Have a minor’s settlement properly evaluated by an expert specializing in structured settlements prior to concluding the file.  I welcome the opportunity to assist.  Call anytime I can help.

As reported today on Bloomberg.com, the British Orthopaedic Association and the British Hip Society issued a statement that the failure rate of the DePuy ASR XL Acetabular System is more than twice what was originally represented when the device was recalled in 2010.

According to the article, nearly half of all patients who received the recalled device require a second surgery within six years.  The article goes on to reference the 350+ lawsuits recently consolidated in federal court in Ohio and the 220+ currently pending in California state court.

My personal interest in the matter stems from my own hip surgery in 2010.  Our firm stands ready to help those who have been adversely affected by the DePuy ASR Hip Recall in any way we can.  If you are anticipating a settlement, we can help you make wise choices about your settlement.  If you are unrepresented and seeking legal counsel, we can guide you.  Whatever your needs on this matter, we’re here to help.

And Why This Matters to Me

Then, just a few months out of the operating room, I learned of a worldwide recall of certain hip implant devices that were defective.  The DePuy ASR Hip Recall dispute now extends to all corners of the globe.

I’ve helped falsely convicted former prisoners establish their own path to financial independence following their exoneration into a world they were not fully prepared for.

I’ve helped paraplegics, quadriplegics, burn and brain injury patients, sex abuse victims and many other classes of plaintiffs and their conservators make sound financial choices when it came time for them to make decisions regarding their injury settlement recovery. 

But until recently, despite my best efforts to empathize with them, I could never fully appreciate everything my clients had gone through.  Could never fully appreciate the price they paid for their injury settlement because I had never gone through the same thing they had.

That is, until now.

I hope you’ll take a few moments to visit my new site and watch the short video I’ve created for current and prospective clients.  If you know anyone who has been impacted by this unfortunate set of circumstances, please let me know how I can help them.  I’m committed to helping.

You’ve spent a career laser focused on advocating for your clients.  You’ve tried cases.  You’ve negotiated settlements.  But now you’re thinking it may be time to “hang up the laces,” hand the reigns over to someone else and head for the barn.

Mixed metaphors aside, are you ready for this transition?

Risk is inherent in the life of any successful plaintiff attorney.  It’s what you’ve lived for.  And let’s face it.  If it was easy, anyone could do it.  Many don’t have the stomach for the uncertainty.   The competition.  You do.

Ironically, it is precisely this comfort with risk taking that leaves many plaintiff attorneys in a precarious position when they decide to retire.

Personal retirement savings accounts invested in funds promising growth potential may have been wise right out of law school.  But when retirement beckons, future happiness requires a philosophical shift in risk tolerance.  Your willingness to take risk, so attractive during your years as a practicing attorney, can obliterate your life savings if a shift away from risk is not considered.

The solution, according to an abundance of recent research, may be just an annuity away.

What is an Annuity?

Perhaps you’ve structured your attorney fees throughout your career.  If so, congratulations!  You understand the value of fixed annuities and have a jump start on the concept.  You’re a few steps ahead of the game.

But if you’re among the 70% of Americans who have no idea what an annuity is, you owe it to your future to watch the short video, What is an Annuity? from the Insurance Information Institute.

Fixed annuities can offer plaintiff attorneys the security they could never count on when complete strangers were deciding their client’s fate.

So, go ahead.  Direct your own verdict!  Look into getting yourself a fixed annuity.