October is Breast Cancer Awareness Month
Oct 10, 2022
October brings to mind the beauty of the leaves changing colors and a time to enjoy the colder weather. But October also holds another meaning for millions of people: it’s Breast Cancer Awareness Month. (more…)
Tags: Current Events, Health Care Needs
Healthcare Costs are Cutting into Retirement Preparations
Sep 21, 2022
You may have seen this statistic before or one resembling it: the average 65-year-old retiring couple can now expect to pay more than $250,000 in healthcare costs during the rest of their lives.
In fact, Fidelity Investments now projects this cost at $285,000. The effort to prepare for these potential expenses is changing the big picture of retirement planning.1
Tags: Employee Benefit Planning, Health Care Needs, Health Care Savings, retirement, Retirement Planning
What is Critical Illness Insurance
Sep 7, 2022
Ever hear of critical illness insurance? This isn’t standard-issue disability insurance, but a cousin of sorts. With people living longer, it is a risk management option entering more people’s lives. (more…)
Tags: Health Care Needs, Insurance, Long-Term Care Planning
Cost of Medical Care
Aug 29, 2022
When uninsured people end up in the hospital, “sticker shock” can follow. Just a quick look at the current prices for medical care procedures can be sobering.
How much does a CT scan cost? Between $250 to $1,500, depending on where it is performed. Need a stent in your heart? The average cost of that delicate procedure is now close to $20,000. How about a knee replacement? That surgery may run anywhere from $15,000 to $35,000.1,2 (more…)
Tags: Health Care Needs, Health Care Savings, Personal Finance
Understanding Extended Care
Mar 23, 2022
Addressing the potential threat of extended care expenses may be one of the biggest financial challenges for individuals who are developing a retirement strategy.
The Administration for Community Living estimates that by 2060, 94.7 million Americans will be aged 65 and older. Of those, it’s estimated that someone who just turned 65 has an almost 70% chance of needing some type of extended care.1,2 (more…)
Tags: Health Care Needs, Health Care Savings, Long-Term Care Planning, Medicare
The Under Utilized Benefits of a Health Savings Account
Sep 22, 2021
Healthcare can be one of the priciest yet essential parts of life’s journey. And yet, many struggle to utilize the financial tools that may help. Take Health Saving Account (HSAs), for example. (more…)
Tags: financial advisor charlotte nc, Health Care Needs, Health Care Savings
Ways to Fund A Special Needs Trust
Jul 7, 2021
If you have a child with special needs, a special needs trust may be a financial priority. There are many crucial goods and services that Medicaid and Supplemental Security Income might not pay for, and a special needs trust may be used to address those financial challenges. Most importantly, a special needs trust may help provide for your disabled child in case you’re no longer able to care for them. (more…)
Tags: financial advisor charlotte nc, Health Care Needs, Health Care Savings, Insurance, Investing, Investment Planning, Legacy, Long-Term Care Planning, Wealth Building
Managing Drug Costs
Nov 27, 2020
Are prescription drug costs burdening your finances? Some people find it a challenge to manage the cost of prescription drugs. Americans pay an average of $1,200 per year for medicine. For those facing greater and more dangerous ailments, some drug costs are $10,000 per month or even lump sums in excess of $80,000 for certain drug therapies. Yes, health insurance and Medicare Part D can help you, but not everyone has access to Medicare, and not every insurance company has the same formulary. This means that your coverage may fall short—not something you want to hear when wrestling with a major diagnosis.1 (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Family Wealth, financial advisor, Health Care Needs, Health Care Savings, Medicare, Personal Finance, Spending Habits
Extended Care. How Much Do You Know?
Sep 14, 2020
How much does extended care cost, and how do you arrange it when it is needed? The average person might have difficulty answering those two questions, for the answers are not widely known. For clarification, here are some facts to dispel some myths. (more…)
Tags: Financial Help, Health Care Needs, Health Care Savings, Long-Term Care Planning, Medicare
The A B C D of Medicare
Aug 19, 2020
Whether your 65th birthday is on the horizon or decades away, understanding the different parts of Medicare is critical, as this government-sponsored program may play a role in your future health care decisions. (more…)
Tags: Financial Help, Health Care Needs, Medicare
More Insights
Feb 1, 2023
Investment firms have a new client service requirement. They must now ask you if you would like to provide the name and information of a trusted contact.1 You do not have to supply this information, but it is encouraged. The request is made with your best interest in mind – and to lower the risk … Continue reading “Who is Your Trusted Contact?”
Jan 30, 2023
There’s a subjective uncertainty associated with financial wellness. Are you financially fit? And if so, how fit are you? While there is no clearly defined threshold for answering affirmatively, much less grading your level of fitness, there are baseline elements associated with financial fitness. To make sure that you’re on the right track, develop a … Continue reading “The Basics of Financial Fitness”
Jan 27, 2023
When you marry or simply share a household with someone, your financial life changes—and your approach to managing your money may change as well. The good news is that it is usually not so difficult.
Jan 25, 2023
Gold has climbed to a nine-month high after breaking out from a bottom formation last fall. The yellow metal is now up nearly 20% off the September lows, including over a 5% year-to-date gain as of Monday, January 23. The recovery in gold has primarily been fueled by a weakening dollar and fading market expectations … Continue reading “Market Update – Can Gold Continue to Shine?”
Jan 24, 2023
Do you work for yourself? Then you may want to consider the solo 401(k), which marries a traditional employee retirement savings account to a small-business, profit-sharing plan. To have a solo 401(k), you must either be the lone worker at your business or its only full-time employee.1
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