More Changes are Coming so Be Prepared
{3 minutes to read} Today's blog is going to be about change, and how much change we've gone through in the last year since COVID-19 broke out. A worldwide pandemic began, and it changed our lives forever. What we are living through is remarkable with so many having been affected. Along with the changes to ourselves and our lives, COVID-19 has changed the way we've done business, moving to virtual environments so that people can work but still be socially distant. Many businesses have gone out of business, [...]
The Value of Annuities in Retirement Planning
Today, we're going to talk about retirement planning and the case for annuities. There was a recent article in the Wall Street Journal titled "The Case for Replacing Some Bonds With Annuities". The first line says, "Unless you die relatively young, income annuities will give you more retirement spending power than bonds, some economists say." So, let's talk about why placing a portion of your money in annuities might be a good idea for your retirement planning. Annuities provide protection against one of the most significant risks that retirees [...]
How Can Business Owners Benefit from Insurance Protection?
{3 minutes to read} Today, I want to talk about Whole Life as a Business Asset. Many times business owners are seeking ways to protect their businesses against the loss of a key person, or to indemnify their company in the event of a key person or owner dying or becoming disabled. They also can use this insurance to fund their buy-sell agreement or help provide retirement income for that business owner. However, these same business owners are sometimes faced with the challenge of maintaining a positive balance [...]
Phase 2: Wealth Distribution Cont’d
{3 minutes to read} Today, I want to continue the discussion on the second phase of financial planning, and that is Wealth Distribution and Retirement. We spend a lot of time with our clients, helping them with plans to generate income in the most efficient manner possible, and as we discussed in prior blogs, on the three phases: Wealth Accumulation, Wealth Distribution, and Wealth Preservation. It's important to recognize that wealth distribution is a critically important part of your planning and how you take distributions of your assets. [...]
Phase 2: Wealth Distribution
{4 minutes to read} Last week, we talked a little bit about the three phases of a financial plan — Wealth Accumulation, Wealth Distribution, and Wealth Preservation. Today, I want to focus on what might be one of the more misunderstood areas, which is Wealth Distribution. Wealth Distribution is the phase of retirement. This is when you have stopped working, and are now relying on your assets to generate your retirement income. There are a lot of risks that people face during Wealth Distribution; number one being market [...]