About Me

square-headshotOver the past two decades, Randy J. Mogle has made some dynamic career transitions – all of them connected in some way to helping people at different stages of their lives. From 1995-2000, the Homer City, PA based Mogle – a “Safe Retirement” Advisor since 2008 – was a social worker who worked with children at risk of being placed outside their home. Earning a Master’s in Social Work from the University of Pittsburgh, he continued in social work with a master’s level license, helping foster kids and their adoptive families meet their goals. Shifting gears in 2007, he launched a career in the insurance business, which included a brief stint at Met Life. Finding the idea of “product pushing” frustrating, he agreed to be mentored in the financial services industry by a friend who had started his own firm after working with Mogle at Combined Insurance. Concurrent with this mentorship, Mogle began his career as a retirement advisor, incorporating as Mogle Financial Services, LLC. He centered his firm on what he termed the Four Cornerstones of a safe and secure retirement plan, “one that will provide you with peace of mind and allow you to sleep at night without the worry of what Wall Street is doing”: 1) Fixed investments (fixed/fixed index annuities) for a worry free retirement; 2) Life insurance – wealth transfer to final expenses; 3) Medicare Supplements/Medicare Advantage Plan and 4) Long term care insurance. For both personal and professional reasons, Mogle recently shifted gears again. While in essence remaining in the insurance business, since January 2014 he has rebranded his business as “The Retirement Mogle” and streamlined his services to help people create a tax free retirement and become a “Safe Money Millionaire.” Working in association with large insurance firms via a prominent Field Marketing Organization (FMO), Mogle uses indexed universal life insurance for retirement purposes. As an independent agent, he is looking to help people do three things: achieve freedom from excessive taxation and market crashes; gain more control of their money; and create financial independence. He says the reason that this framework was developed “is that after seeing the failures of the current system, we don’t trust Washington and Wall Street when it comes to our money and the security of our retirement. We use the life insurance to overcome the Four Enemies of Wealth: taxation, market loss, inflation and interest.” Typically, universal life insurance comes in many different forms, from a basic fixed-rate policy to variable models that allow the policy holder to select various equity accounts in which they can invest. An indexed universal life insurance policy gives the policy holder the opportunity to allocate cash value amounts to either a fixed account or an equity index account. Indexed policies offer a variety of popular indexes to choose from, such as the S&P 500 and the NASDAQ 100. Indexed policies allow policy holders to decide the percentage of their funds that they wish to allocate to fixed and indexed portions. Also, these types of universal insurance policies typically guarantee the principal amount in the indexed portion, but cap the maximum return that a policy holder can receive in the account. “People put money into an indexed universal life policy strictly for retirement, with the death benefit being secondary,” Mogle says. “When they decide to retire at age 70, for example, they begin to take the money out as a loan, tax free – making it a tax shelter, completely compliant within the IRS tax code. In fact, though it’s not always publicized by the media, the wealthy have been doing it for years.” For those who are unfamiliar with the value of these polices in creating retirement plan, Mogle likes to refer to a powerful article on the tax advantages of life insurance published in the Wall Street Journal in October 2010. The article by Mark Maremont and Leslie Scism includes the following key lines: “The (insurance) industry’s years-long shift toward wealthier buyers is clearest in ‘permanent’ life-insurance policies, including varieties known as ‘whole life’ and as ‘universal life,’ which combine a death benefit with a savings or investment account. These represent almost three-fourths of individual-policy premiums collected. They have a dual tax advantage: The death benefit isn’t subject to federal income tax, and earnings in the investment-account part generally accrue tax-free.” “One of the reasons I’m excited about working with indexed universal life insurance is the opportunity to educate people, because surprisingly, a lot of people don’t know about it,” says Mogle, who has created plans thus far for clients in his home state of Pennsylvania as well as North Carolina, Ohio, Texas, Virginia and other states. “The article explains that this is how wealthy people have been avoiding paying taxes in retirement for years, and it’s been around since the 1800s! “People are frustrated these days about taxes going up and Obamacare and Medicare related taxes, and this is a legal way around that,” he adds. “They are looking for a tax free retirement and income they cannot outlive, plus protection against market loss with potential for upside gains with no loss. When people take money out of their policy, they’re taking out a loan for an insurance policy.” Mogle has been on a long, eye opening learning curve since setting up his new venture – and has come to believe the reason that the average American is not aware of this option is because the media loves Wall Street. “Madison Avenue in their infinite wisdom has latched on to that as well,” he adds. “It’s just not glamorous enough to talk about. It’s not like Apple where you’re going to make 30 percent on your investment. The growth in these policies is capped. On the other hand, there’s a guarantee of no loss. The point is that I now have this great opportunity to show clients that there is an alternative to traditional Wall Street investments.” Mogle has been successful from his earliest days in the financial business because of his unique ability to educate people as he develops a strong rapport with them. He brings a diverse array of high and low life experiences and a tremendous sense of empathy to every interaction. He was being bullied in high school, majored in psychology at the Indiana University of Pennsylvania, obtained a Master’s of Social Work degree from the University of Pittsburgh, worked (in no particular order) as an oil rig “roughneck,” a welder, photographer and retail clerk, and as a young adult lost his mom to cancer. Unlike many successful financial services professionals who jump into that world right out of college, Mogle took years to “find himself” as a person who loved to help people, first in social work, later in the financial world. When he created the Four Cornerstones as the driving foundation of Mogle Financial Services, he helped understand how they could take their 401(k)s and turn those funds into a guaranteed lifetime income stream via fixed annuities; indexed universal life insurance is more liquid than fixed annuities, with higher caps. He also became a specialist in Medicare, guiding clients through what he called the “Medicare Maze” and teaching them about their option between choosing the Medigap policy and the Medicare Advantage plan – and helping them decide which was better for them. When it came to long term care insurance, he shared the three ways people could pay for their care – cash, insurance or government assistance – and how to work on solutions. With life insurance, the Fourth Cornerstone, he made sure they understood a range of policies, from a “final expense policy” all the way up to a “legacy transfer” by which they could transfer money to their children tax free in the event of their death. While Mogle is excited about the great financial potential of this new phase of his financial services career, he also has strong personal reasons for making the shift as The Retirement Mogle to indexed universal life insurance. “In my previous business model, I had frequently driven up to 50 miles from my home to visit clients and prospective clients,” he says. “When I heard about this opportunity with the FMO, the immediate appeal was being able to make a really good living while working from home. My wife works and we have three kids, our eight year old daughter Haley and two foster children, a brother and sister, who are 11 and eight. I need to be home three days a week by 3:45 to get the kids off the bus and take care of them. “Another issue is that while I enjoyed offering comprehensive services, more and more I gravitated towards the idea of being the master of one thing and not a jack of all trades,” Mogle adds. “This new business allows me to focus on this one single thing, at least 90 percent of the time. In the past, I was limited to working mostly with clients in my region in Western Pennsylvania, but with the FMO I am working with providing leads all around the country, the potential for growth is virtually unlimited. It’s definitely a challenge for me because this kind of insurance is different from anything I’ve ever sold before. “Calling myself ‘The Retirement Mogle’ is of course a play on words, but it’s also a way to set goals to myself to embody the other meaning of the word within the retirement planning world.”


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