Last week we kicked off Long Term Care Awareness Month by demystifying what is an intimidating and confusing subject for many people by starting with the basics: what is it, who needs it, and why is it one of the biggest financial threats you could face in your life. This week, we're talking cost. Just how expensive is it? What kind of a dent can it put in your retirement savings? What's All the Fuss? With nearly 80 million boomers entering retirement over the course of t

When talking with a client, the question of whether or not they have a trust is always part of the first conversation we have. Why is a trust so important? Plain and simply because without one, you're leaving a nightmare for your family to deal with. Someday when you pass away, your estate will automatically pass through probate court. This is a process that happens with everyone if you live in a probate state, regardless of your situation and it can be an extreme nightmare

Many people confuse disability insurance with long-term care insurance, but they are actually two very different types of coverage. Today we're going to clarify the difference and run through what each one does. Disability Insurance Disability insurance is coverage that replaces up to 60% of your income during your working years, expiring at age 65, if you should become ill or have an injury that prevents you from working for an extended period of time. You can also think o

Running out of money in retirement is the #1 financial fear of Americans, and it's understandable why. With advances in medicine and technology, we're living longer than ever before which means that your money has to last you that much longer. When you hear the phrase "guaranteed income for life", you might wonder what that means or how that's possible. Simply put, it means setting up a vehicle with your own money that will act as your own "pension plan", providing you inco

Most people are unaware of the sheer power and benefits that life insurance products are capable of. There are reasons why the top 1%, banks, and businesses have utilized these products for over a century. These powerhouse products have many problem-solving capabilities and benefits that you can take advantage of throughout your life. 1. It's a part of every strong financial plan We all know that we should have an emergency savings, and put money away for retirement. But

Chances are you bought your life insurance policy much earlier in life, and for certain reasons. You had a young family to protect, an unpaid mortgage, future college tuition to pay for, income you needed to protect. For many people, the need to keep life insurance in place long-term, or even permanently is a no-brainer. But what about people who find themselves in another category? The reasons why someone initially purchased their life insurance policy may no longer be r

It's a shocking statistic: 64% of women have no back-up plan if they're forced to retire early, according to a Transamerica study. This can happen for multiple reasons: a health condition, company layoffs late in your career, a need to care for a family member, and more. An unexpected retirement can create major challenges for women if they aren't prepared. It's important to have a back-up plan, so here are four strategies to help you avoid finding yourself in this situat

Nearly 80 million boomers are now reaching retirement age, and they make up nearly one-fourth of the U.S. population. The oldest of this group are likely contemplating retirement, or have already done so. Roughly 10,000 a day qualify for Social Security payments, and many of them have done a poor job in preparing for the years that are still ahead of them. The question is, why haven't they planned? Thirty-four percent of older Boomers said that they did not understand the

Life insurance isn’t an option that many people tend to think about as a vehicle for saving for retirement. But it’s an option that should definitely be on the list of things to consider. If you are an employee, there’s a good chance that your employer will give you an option of having a 401(k). But is it the best avenue to take to help you build your savings? Or should you pass? After all, 401(k)’s aren’t as popular as they used to be. So what can life insurance offer t

Are you one of the millions of Americans who owns a permanent life insurance policy, or are thinking about getting one? You’ve probably done it primarily to protect your family and their future. But over time, many of those financial obligations may have ended. This is a great time to step back and reassess what your goals are moving forward and look at what you can do with this powerhouse tool to make your retirement more secure and enjoyable. There are 3 unique ways that

At nearly 80 million strong, the Baby Boomer generation makes up a massive part of the American population. This group is a big part of our economy, and as they continue to retire over the next decade or so, it could have huge implications on programs such as Social Security and Medicare. With that in mind, check out the following 8 statistics about baby boomers and their impact on our economy – past, present, and future. There are about 77 million baby boomers in the U.S.

You may have heard of annuities for retirement income, but they can be leveraged to fulfill other financial planning goals as well, making your money work for you. Read on to hear about 3 other ways you can use an annuity. It just might surprise you how flexible annuities can be . . . USE #1 - It can be used as an alternative to life insurance This isn't an option that makes sense for every situation, but depending on your needs, goals, and whether or not you have any curre

Shopping for long term care insurance can be difficult, and confusing. Between policy options, coverage estimates, inflation riders, spousal options, and other additional riders that are available, it can make your head spin. It can be easy to throw up your hands and say you'll deal with it later. But this would be a costly mistake, especially if you've reached your 50's. Many people have heard how expensive long term care insurance is, so they just write it off and assume

When most people think of life insurance they automatically think that it’s just a death benefit. This is understandable because for decades, this is the way that life insurance was marketed to the public, was as death benefit policies. But in reality, it is SO much more than that. It's a tool that like a Swiss Army knife, has many options and ways that you can utilize it to help you solve a problem that you have, or fulfill a need. It's not a one trick pony. There are di

If you value your income and lifestyle, then you need to make sure that you have some sort of plan in place to protect it. When there is no plan, disastrous results can happen when life throws you a curve ball that you weren’t prepared for. Unfortunately many people don’t plan ahead, and this can be for a few reasons. Maybe they don’t know where to start, so they just do nothing. Or they think that nothing will ever happen to them that affects their ability to work or make

You’ve worked hard your entire life to create a lifestyle, and build an estate. Over the years you’ve made tough choices, done without at times for the benefit of the long-term goal. Your retirement is the much-deserved portion of your life where you get to enjoy the fruits of your labor. We all have dreams and goals for our lives. But there is a very real, very serious threat out there just lurking in the future that threatens all of your best laid plans. But there’s goo

Many people easily see the need for life insurance when they have young children still at home, an unpaid mortgage on the house, future college tuition that would need to be paid, or their career is still in full swing. But when you reach retirement age, it’s sometimes wondered if life insurance is still needed. The short answer is . . . YES! But let’s get a little bit more specific as to why this is the case. Check out the answers to the most common questions below: Do I