The good news is - we’re all living longer! The bad news is - we’re all living longer! As the price of everything goes up, so does growing old. Fortunately we now have some financial tools to help make the golden years more comfortable emotionally, physically and financially. One possible solution may be long-term care insurance (LTCI). But don’t jump on this premium bandwagon until you understand what you’re committing to. Like most insurance, we don’t really know how well it works until we really need it. Here is some of the fine print to examine if you’re considering a long-term care insurance policy.Long-term care is often considered an issue exclusively for elders. Not so. A person who requires continuous care because they are unable to independently perform basic daily living activities such as dressing, bathing, or eating due to an injury, illness or in some cases, cognitive disorders may be a long-term care candidate. Affording long-term care is something that concerns many of us and one way to deal with the unpredictable long-term care costs may be long-term care insurance (LTCI).Hopefully you’ll live a long and prosperous life and health or money issues won’t cloud your golden years. But, […]
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I am not sure but I think it was the best selling author and successful financial strategist Douglas R. Andrew who first coined the term, “Investment Grade Insurance Contract”. But what exactly is an investment grade insurance contract and why should you care?Insurance contracts in general are some of the most often misunderstood financial vehicles on the planet and yet they offer some opportunities that can not be found in any other financial products. Why should you care? Because not knowing about the unique advantages of an investment grade insurance contract could cost you literally thousands of dollars in missed opportunities. Let’s take a look at some of these opportunities and then we can break down for you just what an investment grade insurance contract really is.There are many financial vehicles that allow your money to grow tax-deferred while you are trying to grow your nest egg. And any financial advisor will tell you that tax-deferred growth is an advantageous pursuit. Making interest on your interest without having to split that growth with Uncle Sam means that you will end up with a much larger account than if you had to pay taxes along the way. Even if you have […]
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What is the conspiracy?
It is funny how through propaganda we can be manipulated into doing and thinking things that we know don’t make any sense. Here is a major example of what I am talking about. We all know that debt is bad and that it impedes our retirement. We all know that debt causes financial instability. Most marriages end in divorce and finance (which really is debt) is the main reason for this. So why do we all stand in line to buy houses so that we can build borrowing power and security?
Let’s go back to Finance 101. What is an asset? What is a liability?
An asset is something that puts money in your pocket. A liability is something that takes money out of your pocket.
Now, let’s look at your house. The only thing that your house is putting into your pocket is the ability to borrow more money! Yet, it is taking plenty money OUT of your pocket! So unless your master plan is to buy a big house, live in it, sell the house at retirement and move in with your kids (while you live off the money you sold the house for), I think it is […]
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