John Kim of Syncis - Planning for a Secure Financial Future

John Kim established Syncis in partnership with Les Schlais in 2009 with the aim of bringing together individuals, families, small business owners, and some of the biggest insurance and financial service providers in the United States to make financial services and products more accessible to middle-income families. Here are some tips you can use to plan for a secure financial future.

Saving for Retirement
In order to start saving for retirement, you might want to start reading a book or exploring a couple of financial websites to get an idea what you can do. You do not have to be an expert, but you most certainly need to have a basic understanding of the various options you have. Having a general idea of what options are available will help you decide how you can save for retirement.

Other Sources of Income
Having other sources of income when you retire is a good thing because it will enable you to live comfortably. Social Security, revenue from other investments, and a part-time job are some options you might want to consider.

John Kim of Syncis knows the importance of planning for retirement if you want to live comfortably.

Source: http://www.apapracticecentral.org/business/finances/future.aspx

John Kim of Syncis - How to Become an Effective Mentor

John Kim, Co-Chairman of Syncis, an independent insurance marketing organization was born in South Korea and grew up under difficult financial circumstances. He migrated to the United States in 1984 and studied psychology at the Monterrey Institute of International Studies in Monterrey, California.

John Kim co-founded Syncis in 2009 but had actually entered the financial services industry in 1997. He spent ten years building a successful sales organization and received many titles, recognition, and awards for his work. During those ten years, he built a strong client base and mentored several individuals who went on to become six-figure earners. Here are a couple of tips on how to become an effective mentor.

Develop the Relationship
The first step in becoming an effective mentor is to develop and build the relationship. This means that you have to access your readiness and interest in mentoring someone, choosing someone to mentor and taking the time to build the relationship with that person. It takes time to build a relationship, which means you have to work to build the trust with the person you are mentoring. You will also need to set goals and keep your mentoring relationship on track.

Sponsoring
As a mentor, you will need to create opportunities or open doors where you can allow your mentee to develop his skills and gain valuable exposure. Create new opportunities for him and connect him with other people in your network. In other words, you need to create and provide the platform where your mentee can grow.

Monitor the Environment
An effective mentor will keep a watchful eye on the things around the mentee, looking for both positive opportunities and negative or threatening situations. You should be on the lookout for any rumors, adversarial positions and other situations that could threaten the mentee and help him or her safely navigate their way through the situation.

Counseling and Guidance
Mentoring a person means that you make yourself available to counsel and guide your mentee. As you build the relationship you will need to be a personal advisor and confidant to the person you mentor. You will have to help your mentee understand how to find alternative solutions to deal with problems. If your mentee has poor behavioral problems, you will need to work to help him overcome those issues so that he can fit into any organizational culture.

Teaching
Every mentor enjoys the fact that they can teach and impart knowledge to those they are mentoring. Teaching means that they impart knowledge, share their experiences, and recommend assignments for the mentee. It gives the mentee the opportunity to put into practice what they have learned.

John Kim Syncis mentored several individuals prior to co-founding Syncis in 2009.

Source: http://www.forbes.com/2010/06/30/mentor-coach-executive-training-leadership-managing-ccl.html

John Kim of Syncis - Life Insurance – Who Needs it

John Kim is the Co-Chairman of Syncis, an independent marketing organization committed to helping individuals, families, and business owners understand the basic financial concepts. He started working in the financial services industry in 1997 and spent the next decade building a successful sales organization. Over the years, he has received several awards, titles, and recognition for his work in sales. He has also mentored several individuals who went on to become six-figure earners.

John Kim Syncis and the Associates of Syncis have helped several thousands of families understand basic financial concepts, and have collectively put over $1 billion worth of financial protection in place for small businesses, and families across the United States. He has assisted several clients in understanding the importance of life insurance. Here’s what life insurance is all about and who needs it.

Life Insurance
Life insurance is a financial vehicle that protects individuals, families, and businesses from financial loss associated with the untimely death of a family member or employee. It is also a financial tool you can use for retirement planning. It helps individuals and families of various income brackets maintain financial independence during times of financial hardship. There are several types of life insurances available today, they are; term, whole life, universal and variable.

Who Needs Life Insurance
If you are one among the following groups, you need life insurance.

• Married Couples – Some married couples tend to think about life insurance only when they have children. However, this is not true. In the untimely death of your spouse, with a life insurance policy, you will be able to cover expenses and pay off debts. Some insurance companies will not issue policies for pregnant women, so you might want to take a life insurance policy as soon as possible. Married couples with children can greatly benefit by purchasing life insurance policies. Again, in the unfortunate event of the death of your spouse, you will not be left wondering how to pay for the children’s college tuition and other expenses. A life insurance policy helps families plan for the future.
• Single Parent – As a single parent, the burden of providing for yourself and your children lie on your shoulders, and it is not an easy task. For a single parent, a life insurance policy acts as a safeguard for your children’s financial future. 
• Retirees – If you are retired, depending on the size of your estate and after estate tax payments, your heirs could end up seeing about 45 percent go to the taxman. However, with a life insurance policy, your heirs will receive the proceeds immediately thereby allowing them to take care of any outstanding debts and pay for taxes, and funeral charges. 

In general life insurance proceeds are tax-free and will not be added to your estate tax liability if it is properly structured. John Kim of Syncis is committed to making financial products and services more accessible to middle-income families in the United States.

Source: http://www.lifehappens.org/insurance-overview/life-insurance/who-needs-life-insurance/

John Kim of Syncis - Annuities 101

John Kim is the Co-Chairman of Syncis, and through his organization, he has helped thousands to better understand financial basics like 401k plans, taxes and annuities. Though most know something about 401k plans and taxes, those who have not begun managing their finances often view annuities as a mystery whose knowledge is reserved for savvy professionals. This couldn’t be further from the truth.

The points below can help you gain a basic understanding of annuities:

Overview – An annuity refers to a tax-deferred vehicle that is sold by insurance companies. It grows over time, and when you retire, you trigger the annuity, receiving income from it.

Fixed Annuities – A fixed annuity means that you contribute an amount to an insurance company and the company then has say over how it is invested. When you trigger the income, you receive a fixed dollar amount dictated by your initial payout option upon creation. You have many payout options, and your agent will be able to explain them to you in detail.

Variable Annuities – Variable annuities allow you to contribute an amount to an insurance company and choose how it will be invested from available options.

Equity-Indexed Annuities – Equity-indexed annuities are a type of fixed annuity. These annuities will track the performance of investments and provide interest crediting.

The information above isn’t all you need to know, but learning more is easy. Either do some digging online or simply reach out to one of John Kim Syncis many Syncis associates to have the concept explained during a pressure-free consultation.

John Kim of Syncis - How to Renovate Your Finances

When John Kim co-founded Syncis, he and his partner sought to renovate the financial services industry by means of providing friendly, pressure-free aid to middle-income families and business people. Today, as a result of his hard work with Syncis, thousands are able to improve their financial situations, securing better futures. If your finances are lacking, you might need to employ methods like those listed below to get your future back on track…

• Make a Cushion — A cash cushion, or an emergency fund, is necessary if you wish to reach financial security. It isn’t enough to just have a thousand dollars in your savings account before you begin investing or otherwise spending your extra income. Ideally, you should have enough saved to support you for several months if you become unemployed. This will ensure that you have reserves to pull on when you need to, and that you can otherwise confidently place your money into whatever assets you would like.
• Live on Less — Reducing your living costs will allow you to save and invest more, improving your overall life. Whether it’s eliminating your usual coffee shop visits or taking a staycation instead of a pricey vacation, efforts to live on less almost always pay off. Examine all of your expenses to get an idea of where you can cut back, and then do it. Don’t forget that you can, for example, renegotiate your car insurance rate or switch to a budget phone plan.

Fixing your finances alone is never easy, and that’s why professionals like John Kim’s Syncis associates offer consultations to all who need a place to start. Unless you’re a pro yourself, you might benefit from such a meeting.

John Kim of Syncis - Building A Successful Organization

John Kim of Syncis got into the financial services industry because of an act of God. In 1994 he was operating a successful auto parts business in the Los Angeles area when the region was hit by a 6.7 earthquake.

That event, the infamous Northridge earthquake, caused widespread damage throughout the San Fernando Valley, a densely populated area northwest of downtown L.A. Fifty-seven people lost their lives in the quake, and property damage was extensive; as it turned out, the Northridge earthquake was the costliest in U.S. history.

All told, damages were estimated at more than twenty billion dollars. That included the damage done to John Kim’s parts warehouse; most of the company’s inventory was lost. Then things went from bad to worse: “Did not know at the time that insurance coverage was not adequate and that damaged inventory would eventually shut down the business,” he recalls.

Forced to start over from scratch, John Kim of Syncis had to find and pursue other opportunities. Before long he was introduced to the financial services industry, and began to study it closely to see if he could make a go of it. “Spent the next two years studying for securities exams and obtaining licenses to provide financial services.”

He found work in financial services in 1997, and for the next ten years built a large and successful sales organization. His team was good enough to win many awards and other recognition. Along the way he accumulated thousands of clients and began mentoring others, who went on to become six figure earners.

In spite of his financial success, John Kim of Syncis grew dissatisfied with the way large financial service organizations operated, so he left to establish a new business. “Syncis was established in 2009 in partnership with Les Schlais,” John Kim says today. It has grown into one of the top financial marketing organizations in the United States, making financial products and services more accessible to middle-income families.

What sets Syncis apart from other financial services companies is the commitment to helping individuals, families and business owners understand basic financial concepts. Their goal from the start, John Kim says, “was to create a business that was focused on establishing a relationship with clients and fostering understanding before anything else. This background is the reason why Syncis associates are encouraged to never sell anything or close a deal before meeting with the individuals/families multiple times. This process is meant to make sure they trust the representative and understand the products.” This commitment is reflected in the company’s motto: “strengthening families with trust and understanding.”

Syncis associates, says John Kim Syncis, understand that many of their clients are overwhelmed by the complexity of financial service products. That is why they are encouraged not to sell anything when they first meet with a new client. That way, the client is able to make his or her own assessment of their own situation and make an informed decision, without any sales pressure.

John Kim of Syncis - Essential Financial Concepts

John Kim, Co-Founder and Co-Chairman of Syncis, is a seasoned financial professional who has helped to enrich the lives of others through his company for several years. Though the pros are financially savvy, most people do not have a thorough understanding of essential monetary concepts. Even if it doesn’t seem important to you now, understanding concepts like those below will help you secure a solid future…

Risk tolerance is the concept of your comfort with the inevitable ups and downs of the financial market. There’s a rollercoaster cycle that causes the market to swing from high to low and back again, and if you allow those swings to stress you, you have a low risk tolerance. It isn’t all emotions, though; risk tolerance also refers to how much time you have to invest, your uninvested assets and your income potential. Most banks provide tools to help you get an understanding of your risk tolerance, or you can get a more personal assessment by speaking with a professional. 

Asset allocation refers to where the majority of your money is located or invested. The ideal asset allocation varies by individual needs such as necessary liquidity, goal timing and earning potential. As a topic decided largely by opinion, it is difficult to find one solid view of the best asset allocation for your situation. 

Diversification goes hand-in-hand with asset allocation. The goal of diversifying your money is to prevent disaster if one branch of your net worth plummets. It keeps your financial standing balanced, and it prevents too much risk from accumulating. Regular diversification isn’t all good, as it sometimes means selling well-performing assets, but it is considered a must-do by most investors. 

Interest is often used in a negative context, referring to the percentage that a lender charges a borrower for the duration of an outstanding balance. When used in a positive context, though, it refers to your money working for you. For example, when you put money in your savings account, you’re allowing your bank to borrow your money, and as such, the bank pays you a small dividend each month based on the amount saved. If you are in debt, the interest you accrue while you pay back the money is almost always more than the interest that you would gain from investing. It is for this reason that financial advisors often recommend debt repayment before you begin investing your funds. 

Whether you work with John Kim’s Syncis associates or you educate yourself, if you’re lacking in financial knowledge, now is the time to amend that. The better you understand your money, the more it can work for you (and the less you’ll have to work throughout your lifetime.)