Brian Fricke, author and retirement planning expert, responds to news that Warren Buffett, Goldman Sachs Group and others are seeking to buy millions of tax credits from Fannie Mae. 

Orlando, Fla. – November 30, 2009 – Brian Fricke, Worry Free Retirement author/expert and Certified Financial Planner (CFP®), recently commented on an article in the Wall Street Journal written by Susanne Craig, Christina S.N. Lewis and Damian Paletta.  The article described the desire of Warren Buffett’s Berskshire Hathaway, Inc. and Goldman Sachs Group, Inc. to buy millions of tax credits from government-owned mortgage entity, Fannie Mae.

Brian Fricke noted that he and his company, Financial Management Concepts, have been ahead of the curve on this issue, purchasing tax credits for their clients for the past fifteen years.  “We have recently been able to buy at 40-60% below original cost,” remarked Fricke.

According to the article, “The tax-credit program was created in 1986 and has been responsible for the construction of more than a million below-market-rate apartments. To receive credits, which can be worth between 30% and 60% of a project’s cost, housing developers promise to keep rents affordable to people who make less than 60% of the area’s median income.” 

“Most developers sell the credits to large financial institutions that want tax breaks or need to comply with the 1976 Community Reinvestment Act, which mandates that banks invest and make loans in traditionally under-served neighborhoods,” the article continued. 

Brian Fricke and Financial Management Concepts emphasize diversification for their clients.  They believe in the strategy of spreading investments over a variety of different asset classes in order to reduce the risk of substantial loss. Buying tax credits has served as one of many investment strategies that Brian has utilized for his clients over the past fifteen years. 

Orlando Business Journal has named Financial Management Concepts one of the top financial planning companies in Central Florida. Financial Advisor magazine – an industry trade journal- has recognized him as one of the leading financial planning firms in America.  Brian Fricke is a Certified Financial Planner.  Financial Management Concepts is a Fee Only Financial Planning firm. They currently manage over $98 million of investment assets for a select community of clients. 

To read the complete Wall Street Journal article, visit http://online.wsj.com/article/SB125729682025626851.html

 

For more information, please visit http://www.BrianFricke.com

You can also call toll free 1-800-294-4917 or send an email request to [email protected] 

 

About Brian L. Fricke, CFP®:

Brian Fricke is the Author of “Worry Free Retirement, Do What You Want, When you Want, Where You Want”. 

For the last 6 years in a row Brian and his company – Financial Management Concepts – have been named one of America’s Top Wealth Managers. 

Orlando Business Journal has named his firm one of the top financial planning companies in Central Florida. Financial Advisor magazine – an industry trade journal- has recognized him as one of the leading financial planning firms in America. 

If you’ve been in Central Florida over 10 years, you may have heard him on the radio. He used to host his own show on WDBO radio. He’s also served on the City of Winter Springs Board of Trustees Pension Fund.  

Brian is a Certified Financial Planner. His firm – Financial Management Concepts – is a Fee Only Financial Planning firm. They currently manage over $98 million of investment assets for a select community of clients. 

Brian and his team have worked with retirees and pre-retirees from companies like AT&T, Sprint, Harris, Lockheed Martin and Siemens/Westinghouse.

For more information, please visit http://www.BrianFricke.com