We all know that inflation is running wild these days, but do you realize that there are actually three types of inflation we’re trying to combat at once?
Have you noticed it costs a lot more simply to exist these days? They call inflation the stealth tax because it’s not written in the tax code, but it affects each and every single one of us. So what impacts inflation?
Something I’m sure you heard us say before, is you finance every single purchase you make, you either pay cash and give up interest that you could have earned on that money, or you finance and pay up interest to another entity outside of your control.
Most financial advisors out there are focused on accumulating assets under management, meaning you have a lump sum of assets managed somewhere else. How could that advisor obtain those assets to manage them and hopefully earn you a better rate of return?
Have you been looking at your finances lately and realized it’s time for you to kick it into gear? Here’s a secret. The strategies that got you to where you are today are not going to be the same strategies that are going to move you forward toward financial freedom.
When you’re dealing with a whole life insurance policy, whether it be a normal, whole life insurance policy or whole life policy designed for cash value accumulation, there are a few values that you may want to look at. The guaranteed values and the non-guaranteed values. And you may be wondering what’s the difference between the two.
Have you ever wondered how much life insurance, is too much life insurance? Well, here’s a secret. A life insurance company won’t insure you for more than you’re worth.
As you go through life, everything changes. The only thing certain in life is, in fact, change. So when you first get a job or you first start in business, your goal is to create 100% of your earned income to support your lifestyle. And as time goes by and you evolve towards retirement, your reliance on earned income will go down and you will transition to 100% of your lifestyle being funded by passive income. And as we’re evolving from 100% earned income to 100% passive income, there are various stages.
With inflation being a hot topic these days, a natural question may be, are my life insurance policy and my life insurance premiums inflation-proof? And how exactly are they impacted by inflation?
I recently had a conversation with a longtime client who had some life insurance set up prior to his retirement. He’s now ready to retire and he called me to discuss his options for his pension. He has a defined benefit pension plan through his employer. And he wanted to know which was the best choice for him as far as leaving survivor benefits for his spouse.