Category - Uncategorized

1
The Facts about the “Forgotten” Policy; Long-Term Care Insurance
2
Equifax Compromised Your Credit Cards
3
Set Financial Goals So Emotions Don’t Derail Your Investments
4
Equifax Data Breach Requires Action
5
Comprehensive Financial Planning – Explained

The Facts about the “Forgotten” Policy; Long-Term Care Insurance

I recently had a long-term care insurance conversation with a client. The bottom line for this client was they were financially capable of paying their own way no matter the care required during their late life years. Obviously the best time to buy this insurance is just before you need it.

All kidding aside though, you should evaluate what you have and what you are expecting to have in your late life years. Balance those facts with the remote and increasing possibility of requiring expensive personal care in your later years. Then, make a decision.

It may be worthwhile to …

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Equifax Compromised Your Credit Cards

Equifax, one of the three credit monitoring services, admitted recently that hackers gained access to the sensitive identify and financial information in their database for 143 million people (44% of the U.S. population). The hackers exploited a website weakness from mid-May to July. Equifax learned of the intrusion on July 29th but did not disclose the information to the public until 40 days later on September 7th. The credit breach is about as bad as you could expect a breach to be. Much of the data acquired is timeless information that could be used for years.

From the Equifax website

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Set Financial Goals So Emotions Don’t Derail Your Investments

Kiplinger.com offered tips to help you keep your emotions out of investments. Emotions, such as concern for your family’s future, can fuel your desire to invest but they may cause problems if you let emotions derail your investment. In a culture that often tells you to follow your gut, you may find at times that your emotions can lead you astray when it comes to investment strategy.

The article first suggests that you set financial goals. Goals can help you to keep perspective. For example, if you hear about a big change in the market, you don’t have to …

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Equifax Data Breach Requires Action

While most of us have been watching the path of Hurricane Irma, another big news story this past week warrants your attention.  Last week, Equifax announced that a “Cybersecurity Incident” had exposed names, Social Security numbers, birth dates, addresses and, in some cases, driver’s license and credit card numbers, from a whopping 143 million Americans.  We have already received e-mails from clients who have been affected, and expect to receive more since this will likely affect about half of the country.

In fact, this is another massive data breach reminding us how vulnerable we are to thieves seeking our personal …

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Comprehensive Financial Planning – Explained

albert-and-the-puzzle-by-emdotFrom time to time, the question is asked of me: What exactly makes up a comprehensive financial planning engagement?  Since you know from reading about my practice that I operate in an hourly, fee-only fashion, you should know that a truly comprehensive financial planning engagement requires 10 to 15 hours of effort (or more) by the financial planner.

What exactly makes up a comprehensive financial planning engagement?

Each individual situation is going to be different, and so your mileage is likely to vary from my explanation.  What I’ll do, as a starting point, is list out the areas that are …

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