Buying Supplemental Health Insurance: Medigap
May 1, 2023
Medicare won’t cover all of your health-care costs during retirement, so you may want to buy a supplemental medical insurance policy known as Medigap. Offered by private insurance companies, Medigap policies are designed to cover costs not paid by Original Medicare (Parts A and B), helping you fill the gaps in your Medicare coverage. You’ll pay the private insurance company a monthly premium in addition to the monthly Part B premium you pay to Medicare.
Tags: Estate Planning, Long-Term Care Planning, Medicare
An Introduction to Estate Planning
Apr 26, 2023
By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives. But what estate planning means to you specifically depends on who you are.
Tags: Estate Planning, Family Wealth, financial advisor, financial advisor charlotte nc, Long-Term Care Planning, Personal Finance, 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
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
Market Outlook 2022: Passing the Baton
Dec 24, 2021
Our resurgent economy grew at over a 6% pace in the first half of 2021 and is on track for over 5% growth for the year by the time 2021 draws to a close. During the early recovery, we had a hand up from stimulus and policy that saw us through a period of unique challenges. In 2022, the economy may be ready for a handoff, back to a greater emphasis on the individual choices of households and businesses. How smoothly that handoff is executed may determine the course of the recovery. This is our market outlook for what’s to come in the new year. (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, financial advisor charlotte nc, Financial Planner Charlotte NC, Long-Term Care Planning, Personal Finance, Retirement Planning
Understanding Long-Term Care
Oct 22, 2021
Addressing the potential threat of long-term care expenses may be one of the biggest financial challenges for individuals who are developing a retirement strategy.
The U.S. Department of Health and Human Services estimates that 69% of people over age 65 can expect to need extended care services at some point in their lives. So, understanding the various types of long-term care services – and what those services may cost – is critical as you consider your retirement approach. (more…)
Tags: Financial Planning, Long-Term Care Planning
Eldercare Choices in the COVID-19 Era
Jul 26, 2021
Given the threat of COVID-19, seniors today may be considering their eldercare alternatives with extra caution.
In addition to health factors, the cost can be an issue. According to Genworth’s 2020 Cost of Care Survey, the median annual cost of a semi-private room in a nursing home is now $90,000. A single-occupancy room may cost over $100,000 a year.1 (more…)
Tags: Current Events, financial advisor charlotte nc, Long-Term Care Planning, Medicare, retirement, Risk Management
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
Life Insurance with Extended Care Riders
Apr 9, 2021
The COVID-19 pandemic has changed extended-care policies. While the specific policy information varies from company to company, in general, the pandemic has made it more difficult to qualify for extended-care insurance policies. This can be particularly challenging if you’re in a high-risk group.
Around 7 out of every 10 seniors are projected to need extended care during their lifetime, and many of these medical needs aren’t covered by Medicare, Medicaid, or standard health insurance. Unless you have made arrangements for extended care, you are choosing to self insure should you require this type of assistance.1 (more…)
Tags: Insurance, Long-Term Care Planning
Group Life for a Growing Business
Dec 14, 2020
As companies grow and add employees, they also add employee benefits. Retirement and medical plans can be provided, but what about group life insurance?
Group life on the menu? Owner-operators know that group life coverage can help attract excellent workers, but some are anxious about the cost and suspect they are just “small fish” to insurers. In reality, coverage may be very affordable and include a variety of policy choices. (more…)
Tags: Employee Benefit Planning, Health Care Savings, Insurance, Long-Term Care Planning, Medicare
More Insights
Jun 5, 2023
The rental car you’re driving while on vacation or a business trip is nice–you almost wish you could take it home with you. But what happens if you have an accident while you’re renting it? When you do go home, the last thing you want to take back with you is the liability associated with … Continue reading “Rental Car Insurance”
Jun 2, 2023
Few terms in personal finance are as important, or used as frequently, as “risk.” Nevertheless, few terms are as imprecisely defined. Generally, when financial advisors or the media talk about investment risk, their focus is on the historical price volatility of the asset or investment under discussion.
May 31, 2023
You’re beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors. Whether your concern is for your personal assets or your business, various tools exist to keep your property safe from tax collectors, accident victims, health-care providers, credit card issuers, business creditors, and creditors of others. To insulate your property … Continue reading “Asset Protection in Estate Planning”
May 26, 2023
It’s nice to own stocks, bonds, and other investments. Nice, that is, until it’s time to fill out your federal income tax return. At that point, you may be left scratching your head. Just how do you report your investments and how are they taxed?
May 24, 2023
Vacation homes require a special type of insurance–one that protects your vacation home but doesn’t overlap with your already existing homeowners insurance coverage. Here are some things to consider when insuring your vacation home.
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