Month: June 2013

By Gary Nager | June 8

I’ll admit it. Even though I worked as a research editor for a major Wall Street investment firm 30 years ago, I still know precious little about investments. And, even though I’m a whole lot closer to retirement age than Derek Ifasi of Ifasi Financial Group (an independent financial firm located in the Tampa Palms Professional Center off Commerce Park Blvd., just south of the Bruce B. Downs Blvd. exit of I-75), the difference between what Derek knows about how to successfully plan for retirement and what I know on the same subject is like the difference between night and day.

Although he looks even a little younger than his 27 years (“I know I have a baby face,” he admits), I promise that if you spend even five minutes with this very personable and obviously very knowledgeable Certified Long Term Care (CLTC) specialist, you’ll end up at least wanting to know more about everything from the many different types of annuities you can set up to Social Security benefits, IRAs, Roth IRAs, life insurance and so much more. But, I’m telling you, if you do end up meeting Derek, you’ll probably end up wanting to hire him to handle your retirement planning.

“Our goal is to provide individuals with the knowledge and understanding about how to protect their current and future retirement income. We have the skills and experience required to help meet our clients’ established goals. Our company goal is to become a resource for each and every client. We abide by a strict code of ethics to ensure our social responsibility. We believe that every financial product is equivalent to an individual tool in a tool belt.”

Ifasi Financial Group specializes in deferred compensation planning and retirement income planning. “We understand that each client’s interests and needs vary, and offer products to help them maximize their goals,” Derek says. Ifasi uses a variety of phone, face-to-face and internet-based tools to ensure that each client is comfortable speaking with a representative.

“Being a younger man in this business hasn’t really been a problem for me,” Derek says. “I’ve been involved with financial planning for seven years and all of my professional training has been in this business. In this profession, some people who have worked in other businesses first decide to get into retirement planning in their 40s or 50s, as they near retirement age themselves.”

Ifasi is a native of Bethpage, Long Island, NY, who graduated from USF with a Bachelor’s degree in Marketing. He started his career at age 20, when he worked with his brother Anthony and the financial advisors at an Allstate Insurance office in Brandon while still in school. Then, after he graduated from USF, he worked with Northwestern Mutual and then MetLife for a couple of years.

“But, I saw I could offer more value as an independent than I could working for someone else,” he says. “I specialize in all types of retirement income planning. Most of clients start looking into retirement options about 10-15 years before they retire.”

Derek adds that his average client is about age 55, “although my oldest is 98 and my youngest is in his mid 20s.”

Among the products and services Derek handles/offers are different forms of life insurance, investing rollovers of existing IRAs (individual retirement accounts), Roth IRAs, Keogh plans and annuities (investment plans which offer fixed sums of money paid to someone each year, typically for the rest of their lives) and many more.

“In other words, I can help you create your own pension plan, even if you never had one at work, or I can rollover your existing pension or retirement plan into an annuity that will guarantee you a fixed income for the rest of your life that you literally can not outlive.”

 

Different Types Of Annuities

Most people know how life insurance and even IRAs work, but there are several basic types of annuities you (and I) may not fully understand, only one of which Derek says he and his staff of retirement planning pros do not recommend for their clients.

Deferred – An annuity which begins with an accumulation or savings phase, but then enters the income phase on its annuity starting date, when it is converted into a stream of income for the beneficiary.

Immediate – An annuity with only an income phase, which generally starts with a single premium that is converted immediately or shortly after it is purchased into an income stream for the beneficiary.

Fixed Interest – A fixed interest annuity pays a fixed rate of interest on the premiums invested in the annuity contract.

Variable – During the accumulation phase of variable annuities — which are the only types of annuities that Ifasi says he does not offer to his clients — the premiums paid on the contract, less any applicable charges, are placed in a separate account of the insurance company, where the annuity owner can invest them in one or more stock and bond “subaccounts.

During the income phase, the amount of each income payment may be fixed and “guaranteed” (all guarantees referred to in this article are based on the claims-paying ability of the issuing insurance company) or variable, changing with the value of the investments in the separate account. “I tell my clients that most people planning for retirement don’t want that much risk associated with their annuities,” Derek says.

Indexed – Indexed annuities combine characteristics of both fixed interest and variable annuities. Like a variable annuity, the insurance company pays a rate of return based on a stock market index (such as the Standard & Poors 500), but only the interest earned on the annuity is based on the fluctuations of the market, not your principle.

“Hybrid” annuities – “Hybrid” annuities are the same as indexed annuities, but with an income rider, also offering the benefit of no risk to the principle.

“Hybrid annuities go up when the market goes up, and flatline if the market goes down. In other words, a hybrid annuity has a floor, but no ceiling.” Derek adds that when the market is solid, a hybrid annuity can earn 20 percent or more a year, and that he gets business referred to him by other retirement providers because, “I have access to the highest income riders in the business for hybrid annuities, with a guaranteed floor of 7-8 percent per year.”

He adds that you can even have an annuity as your IRA or roll over your existing IRA into an annuity with a guaranteed income rider. “I can find you the best way to roll over your IRA, no matter what type of IRA it is now.”

 

Education Is The Key

If all of this sounds as confusing to you as it is to me, don’t sweat it. Derek’s website has more than 70 free, educational videos on a variety of retirement subjects that walk you through the complex world of IRA rollovers, annuities and more, as well as a radio show on NewsRadio WFLA-AM (540) & FM (104.5) Orlando. The show airs Tuesdays, 7 p.m.-8 p.m., & Sundays, 7 a.m.-7:30 a.m.

His website (RetireSharp.com) is divided into four sections — one that focuses strictly on annuities, one for those who are at retirement age or already retired, one for those who are pre-retirees and one for those who have changed jobs.

“I’m open to hosting seminars for a company or even an entire family looking for different retirement investment plans,” he says. “The most important products we offer are myself and my staff.”

Ifasi Financial, which is accredited by the Better Business Bureau and the National Ethics Assn., can and does sell education funding plans and life insurance, too.

“We have access to many great life insurance companies and can get the best policies to suit your needs,” he says.

In addition to being a CLTC, Derek has his Series 6 and Series 63 licenses and also is certified to sell life and health insurance and annuities. He and his fiancée, Jenna, a teacher with Hillsborough County Public Schools, live in Tampa Palms.

Ifasi Financial Group is located at 17427 Bridge Hill Ct., Suite J, in the Tampa Palms Professional Center. For

By Matt Wiley | June 8

With the passing of every NFL football season, it seems that concussions continue to make even more headlines. Luckily for local athletes, no matter the sport, Florida Hospital Wesley Chapel (FHWC) is now a certified concussion treatment center, the only one of its kind in Pasco County. The concussion center is part of the hospital’s new Orthopedics & Sports Medicine Institute.

According to the U.S. Center for Disease Control (CDC), more than 1.7 million traumatic brain injuries occur each year, 75 percent of which are concussions. Whether it’s from sports, a car accident or a fall, identifying concussions can be difficult, as the symptoms of some concussions can be milder than others, even though the condition still exists.

Enter Dr. Jonathon Phillips, MD, CAQSM (Certificate of Added Qualification in Sports Medicine), and founder of the FHWC Concussion Center, which is located on the first floor of the recently opened FHWC Wellness Center. Dr. Phillips is educating parents and athletes, alike, on the dangers and proper treatment of concussions.

“It’s very important for parents and kids to get educated about concussions because they don’t always consider (every minor brain injury to be) a concussion,” Dr. Phillips explains. “It’s not always the concussion that knocks someone out that is the bad one. There are a lot of little things that can happen. A player may come to a coach or parent with a headache or an inability to concentrate, but there wasn’t a major incident on the field. Those are the kinds of concussions that can last one to two months instead of 5-7 days.”

Dr. Phillips explains that knowing where to go to get treatment for a concussion also is important.

“There isn’t really a wide range of physicians you can see to get the appropriate concussion management,” he says. “Most folks aren’t educated about which providers to visit. You have to go to a place that is known to manage the condition. Imaging capabilities are not always necessary, just the proper training. Usually, the doctors with the proper training are primary care physicians who also specialize in sports medicine, or neurologists, pediatricians and physiatrists (physical rehabilitation physicians). However, not every one of those types of physicians is always trained, which is why it’s good to go a certified concussion center, like we have here.”

 

A Full Gamut Of Tests

As Dr. Phillips explains, there are a multitude of tests that you have to do to come up with the clinical concussion diagnosis, One of the most simply administered, but actually most complex, tests — called an ImPACT evaluation — is actually done completely on the internet.

“It’s a very visual, spatial test that challenges memory, reaction time and a couple of other parameters done completely on a computer,” Dr. Phillips explains. “It takes about 25 minutes to do.”

I actually took the test to get a better idea of what Dr. Phillips meant. It’s a good thing it wasn’t for a grade because it turned out to be much more complex than I expected, which is the point.

The tests vary from remembering a series of numbers, shapes or words to determine if the color spelled out inside a shape matches the color of the letters. However, for the best results, athletes are encouraged to take the test before ever stepping onto the field

By taking the test before a concussion can occur, doctors, such as Dr. Phillips, can establish a baseline with which to compare the test results if the athlete does end up suffering from a head injury on the field and takes the test again. By comparing the numbers, the doctors at the FHWC concussion center can determine how severe a concussion an athlete has suffered and take the necessary steps to treat the condition.

“This whole idea of prevention, diagnosis and treatment of concussions is so critically important,” says Tracy Clouser, director of marketing for FHWC. “We know that the schools and athletic associations and youth leagues are strapped for resources, so if we can provide some of those resources through education and training, we’re really excited about that.”

In addition to being the official orthopedic and sports medicine and outpatient rehabilitation provider of the Tampa Bay Storm Arena Football League team, FHWC also is the lead sponsor of this summer’s Josh Freeman Football Camp, which is being held June 19-20 at Wesley Chapel High on Wells Rd.

During the camp, hosted by the Tampa Bay Bucs’ starting QB, on Thursday, June 20, Dr. Phillips will be giving a lecture for parents about concussions, including how to identify signs and symptoms, the next steps to take for treatment and the importance of ImPACT evaluations. FHWC’s Dr. Christopher Baker, MD, an orthopedic surgeon, also will be on hand to speak with parents about sports injuries.

The concussion center is just one part of FHWC’s new Orthopedics & Sports Medicine Institute, which also offers other orthopedic services and specializes in treating injuries to the musculoskeletal system sustained from playing sports. Due to its location on FHWC’s campus, the Institute is able to provide diagnostic digital imaging using the hospital’s state-of-the-art imaging technology, such as its 128-slice CT scanner, to determine treatment options.

Depending upon the severity of an injury, the Institute also can offer surgical intervention, as well as extensive therapy and in-patient or out-patient rehabilitation, in the FHWC Wellness Center’s new rehab center to help athletes get back in the game faster. The rehab center even features an “Alter-G” (or anti-gravity) treadmill, which can support up to 80 percent of a patient’s body weight, allowing patients to walk on lower-body injuries much sooner than normal. From personal experience, I can say, “it’s almost like running on the moon.”

For more information about the FHWC Orthopedics & Sports Medicine Institute, please visit FHWesleyChapel.org. For info about the Josh Freeman Football Camp visit ProCamps.com/JoshFreeman.

By Matt Wiley | June 8

Honesty, integrity, leather couches. None of those things are exactly what comes to mind when thinking about getting your car serviced. But, these are just a few of the many “amenities” that separate the recently opened Christian Brothers Automotive franchise on Bruce B. Downs (BBD) Blvd. in New Tampa (less than a mile south of the Pasco County line) from the usual greasy car shop.

“Notice anything about our waiting room?,” asks Marty LaBarbera, owner of the New Tampa Christian Brothers Automotive franchise on Bruce B. Downs (BBD) Blvd. behind Auto Zone auto parts store in the Trout Creek area next to Burger 21. “There’s no one sitting in it, but the garage is full.”

LaBarbera says that the garage has been pretty full since the shop­ — which services nearly every make and model across the automotive spectrum (including BMW, Mercedes, Lexus, Porsche, Nissan and most other European, Asian and American makes and models) opened on January 2. Whether it’s a “check engine” light, brakes, A/C or transmission service, or just scheduled maintenance, Christian Brothers has New Tampa and Wesley Chapel covered.

“This is retirement for me,” LaBarbera explains, after a long career in the prison system in Texas. “About six years ago, I was planning ahead to retirement, knowing that I wanted to get into something else. Cars have always been a hobby for me. I knew I wanted to get into some kind of automotive business for retirement. I stepped into a Christian Brothers in Austin, TX, near where I lived. I was amazed by the appearance and the cleanliness of the place. I knew I had found what I wanted to do.”

LaBarbera says that he was instrumental in bringing a Christian Brothers franchise to New Tampa when company officials decided to expand to Florida from Texas. When company officials expressed interest in the Tampa Bay area, LaBarbera scouted for locations and suggested New Tampa since it is a modern and still-developing community. New Tampa is the 111th location for the auto shop franchise, which has a separately-owned location on S.R. 54 in Land O’ Lakes.

“It took about two years to get everything worked out, to purchase the property and get the construction done and all those things,” he explains. “So it’s been kind of a long process, but it just takes that long, I guess.”

In the time it took to open the New Tampa location, Christian Brothers already had opened two other locations in the Tampa area, one in Westchase and the S.R. 54 location. Each shop is built exactly the same and is run the same way.

“They learn as they build and collect best practices,” LaBarbera says. “Their operating protocol is consistent. As franchisees, we have to agree to that entire protocol. My attitude is that, if there were 110 shops before me and not one has failed since 1983, why would I not want to run it according to that plan?”

Besides the iconic brick look to the outside of the shop, the first thing that catches most customers’ eyes is the waiting area, which is void of the stereotypical TV playing the usual daytime programming and uncomfortable chairs. Instead, the waiting area offers a clean environment, leather couches and coffee that a Christian Brothers employee will make fresh just for you. And it’s usually empty.

“Every shop has a courtesy car,” LaBarbera explains. “The mindset is this: ‘Why don’t you drop your car off, I’ll take you to work and pick you up when we’re done.’ And now your Saturday is free. Don’t you have something you’d rather be doing on a Saturday than sitting at an auto repair shop for a few hours? So, I’m on the road most of the day most days.”

LaBarbera says that what really sets Christian Brothers apart from other auto repair shops is its foundation as a Christian organization.

“The auto repair industry has developed a bad reputation because it’s easy to take advantage of people since we’re working in an area that most people are unfamiliar with,” LaBarbera explains. “You have to trust us. We’re just honest. We may not tell you what you want to hear (about your car), but we’re still truthful with you.”

 Another Factor Is Quality

“I don’t apologize for our prices,” LaBarbera says. “We’re not competing to be the lowest cost repair shop in the area. You can get things done cheaper; even we could do things cheaper. We could use cheap oil, cheap filters and hire inexperienced workers for low wages. But, we believe it’s the quality that really sets us apart. When you drive out of here, I want you to be confident that a good job was done on your vehicle.”

LaBarbera, his service manager and two technicians share more than 50 years of combined experience in the auto repair industry. Each technician holds a Master certification from the National Institute for Automotive Service Excellence.

“On a typical day, customers will come in and tell us their car is making a noise,” LaBarbera explains. “Greg, my service manager, will ask questions and focus the issue down to something more specific and give the info to the technicians. Then, they spend about 60 percent of their time on diagnostics. They plug a computer into a customer’s vehicle that reads all of the vehicle’s system computers to see where a problem may be occurring. When a check engine light, or other notification, appears on your dashboard, it provides the computer with a code, which serves as a clue as to what could be causing a problem.”

But, that’s just the tip of the iceberg. Christian Brothers’ master techs do additional extensive diagnostics research to see what problems other people have previously had with whatever vehicle is being worked on to see if a similar problem could be occurring in your vehicle.

“The old school way is part-swapping,” says LaBarbera. “A shop will look at symptoms, and tell the owner, ‘It could be this,’ and replace that part. Then it doesn’t fix the problems and you’ve spent the money on that new part.”

Instead of “swapping,” LaBarbera says that when it comes to parts, Christian Brothers works as a value shopper for you.

“When we put a part in your car, we make sure we get the right part from the right vendor for the right price–and that probably isn’t the cheapest one,” he explains. “So, bargain hunters may not want to come here, but if you’re value-conscious, and you want something done well and are willing to pay for quality and longevity, without paying the sun and the moon, we’re here for you. We make the recommendations for you and then you make the decisions.”

New Tampa resident Sherry Laursen is happy to speak to the quality of Christian Brothers.

“I’m a local real estate agent with Coldwell Banker and people always are asking me where a good place would be to take their car,” Laursen explains. “There really isn’t a place in New Tampa except for those quick shops that have bad reputations. My 17-year-old son, Dylan, took his 1998 Pontiac Grand Prix there after school recently. They gave him ‘above and beyond’ customer service. I was super impressed with them. They easily could have taken advantage of him, but didn’t even try.”

Having car issues? Stop by Christian Brothers Automotive, located at 20303 Trout Creek Dr. behind AutoZone, or give them a call at 402-1262. For more information, please visit CBAC.com.