Reprinted with permission of Real Simple.Protect what you’ve earned and prepare for the future with these five financial questions according to Nicole Webb, SVP, Financial Advisor at Wealth Enhancement Group®.
Everyone needs a plan for their long-term care (LTC). According to the U.S. Department of Health and Human Services, an average of 70% of people 65 and older will need long-term care at some point in their lives.
Losing your parent is a profound event. While you may be experiencing unprecedented emotional impacts, there are important financial actions to take immediately. Protecting your parents’ legacy by managing their finances after their death is one of the most critical ways to honor what they did with their time on Earth. Unfortunately, during these times, handling legal and financial affairs can feel insurmountable.
When the topic of risk arises, many investors immediately think of market risk. The likelihood of a potential investment loss is a strong consideration in making financial decisions.But other types of risk may be even more impactful to your overall financial well-being. These risks might not be marked by down-ticks in the stock market but natural disasters or personal injury.
Companies and their employees have already been trending toward relocating from big cities with high rents and other issues. With the current housing and employment market, many have even greater motivation to relocate.
Compensation is the most important benefit an executive can receive. It’s tempting to focus exclusively on compensation. “Money talks” after all, and executives will often depart your firm in search of a higher paycheck. But executives also expect a robust medical and retirement savings plan. If your firm is skimping on those benefit pillars, you won’t attract talent, and the talent you do have won’t stay very long.
We’re big believers in long-term care insurance (we both own policies), but the premiums can be quite expensive. One relatively recent innovation in the insurance realm is the option of converting a portion of the cash value on a life insurance policy into a long-term care policy.