Even a well-developed investment plan can fail for reasons that have nothing to do with investments. It could fail because the family breadwinner dies prematurely and doesn't have enough life insurance to cover her loved ones. Or it could fail because of an auto accident that results in a large judgment, and there's insufficient liability insurance in the form of an umbrella policy. This is why it's critical to integrate an investment plan into an overall estate, tax, and risk management (insurance) plan. One area of concern that is all-too-often overlooked is the need for long-term care insurance (LTCI). According to a survey by Sun Life Financial (SLF), there's a major disconnect … [Read more...]
A Primer on Medicare and Medigap Coverage
a primer on medicare and medigap coverageDespite all the public discussion about health care, very few people under the age of 65 understand the basics of Medicare, the federal health program for seniors and certain disabled individuals, or Medigap, the supplemental private coverage many buy to cover treatment that shortfalls what the federal program doesn't pay. Even if you have years before you qualify, why focus on Medicare and Medigap now? Because as big changes happen in our healthcare system, those who understand the programs and products ahead of time will not only be better equipped to plan for their post-retirement healthcare options, but they'll have a better understanding of … [Read more...]
Charles Schwab