History - LaCroix Financial Group, LLC

History

Robert LaCroix, founder of LaCroix Financial Group, LLC (“LFG”), began his career in 1974, helping hard working people reach and secure their financial objectives. Coincidentally, this was the same year the U.S. Congress passed legislation directing that the Internal Revenue Service Code allow certain Americans to TAX DEFER a limited amount of their income to save for retirement. These accounts were referred to as IRA accounts. A few years later, Congress was lobbied by a few of the country’s largest employers to change the IRS Code to allow for their employees (mostly highly compensated executives) to TAX DEFER a portion of their income, deferring the payment of income tax on those amounts until the funds were withdrawn at retirement. In 1978, the IRS added Code 401(k), the provision allowing for retirement accounts that we commonly refer to as “401(k)” accounts.

From their inception, most financial advisors have proclaimed and marketed these plans as exceptional, favored strategies to save for retirement. The reasoning was and is that individuals can DEFER the taxes on the amounts contributed each year, accumulate GROWTH on a tax deferred basis, and withdraw funds in retirement (age restrictions apply) with the assumption they will be taxed at a LOWER RATE at retirement.

Unlike most financial advisors, who supported these TAX QUALIFIED PLANS (“TQP’s”), LaCroix realized the pitfalls in this kind of speculation shortly after the introduction of the Tax Qualified Plans (“TQP’s”) in the 1970’s. He knew many of the claims were at best, unpredictable, shortsighted, misleading, often simply not true.

Unfortunately, until recently when addressing these issues, there were few or no practical options to replace TQP’s as the preferred vehicle for retirement planning. Most advisors, for lack of better solutions, failed to point out the flaws in tax qualified plans. Even more unfortunate to the point of being tragic, is what has occurred recently to most retirement savings plans as a result of the shortsightedness of financial advisors who promoted tax qualified plans as the sure way to achieve financial security. Many working Americans now doubt whether it is possible to ever recover a financially secure retirement.

LaCroix has successfully developed and marketed LFG Plans to individuals and small groups of clients in the Phoenix, Arizona area. Now with an expanded group of professional advisors as associates, LaCroix is moving forward in 2009 to educate more Americans about the facts and flaws in their tax qualified plans and share how the LFG Private Plan can help you RESCUE YOUR RETIREMENT.