The good news is...

we are living longer.

The earlier you consider long-term care coverage, the cheaper it will be.

What if

You become disabled and unable to work?

What would you and your family do for income?

Are you ready for retirement?

Preparing for your future is vital.

Most people have not sufficiently saved or planned for their lives in retirement.

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Annuities

With Americans living longer, and fewer employers offering pension plans, annuities have become increasingly popular. An annuity can be a great investment for your future.

Planning

Financial goals may include both saving for retirement and saving for a specific purpose. Some investments can be long-term. Others perhaps need to be more liquid.

Specialty Insurance

Whether your employer gives you a choice of plans or you need to purchase your own coverage, it is crucial that you understand your health insurance choices.

You are part of the work force and out on your own.

Establishing a solid financial foundation should be a priority, including insurance in the mix. It’s important to understand what affects the cost and availability of insurance. If you have accidents, insurance will increase in cost. Financial instability, getting smothered by credit card debt, is frequently a predictor of future insurance losses. As a result, an insurance company may see additional risk, making it more difficult to get coverage at the best possible price. Conversely, if we take care of ourselves and protect what we own, insurers will see good insurance risks and are more likely to compete for your business.

Life

Your parents probably have life insurance which will be part of their estate. But now that you are on your own, you have to think about your own insurance needs. When you are young, your life expectancy is high, which means the cost of life insurance is low. Life insurance becomes increasingly important if you have others who depend on you, including aging parents.

Health

Once you are out of school or older than 23, your parents’ health plan won’t cover you. As you sort through job prospects, it’s tempting to go for the opportunity that puts the most dollars in your pocket. Health coverage is perhaps the most important job-related benefit you can get. Many companies have coverage through a managed-care plan, which means that many decisions, including which physicians are included in the network, are made by the healthcare provider. Others have more flexible plans that allow their employees to choose their physicians. In both cases, the employee is responsible for some co-payments which help keep costs under control.

Disability

When we are young, we feel indestructible. In fact, at this stage, we are four times more likely to be disabled than die. Many employers offer an option of disability coverage, which provides for lost income if you are injured as a result of non-work activities and unable to work. Most large businesses offer disability coverage. Smaller businesses may not. If the injury is work-related, then workers compensation coverage applies.

Long-Term Care

The good news is we are living longer. The challenge is how we as a society will meet the expanded need for care for an aging population. In many cases, the immediate question is how to best care for aging parents. Increasingly, late in life, children serve as guardians for their parents. There are many options for custodial care, ranging from in-house care to nursing homes. As a general rule, for everyone in your family, the earlier you consider buying long-term care coverage, the cheaper it will be.

Financial Planning

You may not be making a lot of money, but it’s probably more than you’ve had before. You have an apartment to furnish, a wardrobe to build and perhaps student loans to pay off. It’s also important to save money. Most financial experts emphasize that, even if you start small, becoming a saver or investor earlier in life and keeping it up during your peak earning years is very important. Put some money away regularly, even if it is only a small amount. Treat it as a bill and pay yourself along with your other obligations. This can be a rainy day fund or be for a specific purpose, such as a down payment on a home or car.

If your employer offers a 401(k) at work with matching funds, sign up for the maximum if you can. It’s “free money.”

At this point, it’s also important to know what not to do. We live in a “credit-card society” and are bombarded with advertising that suggests we can have it all right now – the clothes, the car and the fast lane. It sounds old-fashioned, but living within your means is important. Maintaining a good credit rating will help you get the best rate when you apply for a home or car loan. It can help you get a better job or apartment. It can even save you money on your insurance.

retirement planning

Retirement Planning

By the time you retire, your accumulated wealth is probably at its height. The challenge now is to manage your assets so that they last as long as you do. Insurance still plays an important role at this stage of your life.

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financial planning

Financial Planning

Establishing a solid financial foundation should be a priority, including insurance in the mix. It’s important to understand what affects the cost and availability of insurance.

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College Funding

A major issue for families with children is how to best prepare to send the kids to college. The cost of tuition and room and board for four years now approaches $40,000 for public universities and exceeds $73,000 for private schools.

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domestic partners

Domestic Partners

It makes sense to consult with a financial advisor who is experienced in domestic partnerships. Most individual retirement accounts require you to specify a beneficiary. The last thing you want is a family feud over your estate after you are gone.

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employment change

Employment Change

Many people obtain certain kinds of insurance through their employment, particularly health and disability coverage. Larger businesses may also offer retirement benefits, such as a 401(k) account. When changing jobs, rearranging coverage and finding out which accounts are portable becomes very important.

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Life Stages

Single

Single

You are part of the work force and...

Married

Married

The joining together of two lives i...

Domestic Partners

Domestic Partners

Since insurance and domestic partne...

Raising Children

Raising Children

Children are the future. We need to...

Students

Students

When a teenager gets a license, it’...

Employment Change

Employment Change

Many people obtain certain kinds of...

Senior Years

Senior Years

By the time you retire, your accumu...

Divorced

Divorced

Since nearly half of all marriages...