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The World has ChangedViews: 138
Apr 16, 2014 1:42 pmThe World has Changed#

Sara Finkelstein
Safe Money Strategies and Insurance Solutions
Have you noticed how everything seems different?  Nothing is as it was.  For example, why is it that one dedicates 4-5 years getting a college degree and then can’t find employment?  Why is it that preparing for and having a “good job” does not mean you will be set for a happy, carefree retirement?  Why is it that we’ve been taught to study hard in school, work hard at a job (or career) and you will be successful?  For many, the formula has not worked.
What I believe has happened is that we, as individuals are, more than ever, responsible for our own financial well being.
Part of that is learning what you need to know so that you can be prepared for the “what ifs” in life.  The “what ifs” are things that happen that we do not plan for.  You know, the things that happen while we are living life!
I want to provide you with some information that may be beneficial for you to know about.
  1. Life Insurance
If you have ever purchased life insurance outside of your employer’s plan, you may have purchased term life insurance.  It is the most inexpensive form of life insurance.  Even individuals who buy permanent life insurance but term as well.
Term life insurance lasts for a certain “term”.  That term can be as little as 10 years, or as much as 30 years. In order for the beneficiary to benefit from it, the insured has to pass away.  Don’t get me wrong, term life insurance is important, but it does not benefit the insured, in any other way than providing peace of mind.  Which is not to be discounted.
What is new is that now there is term life insurance that has “living benefits”.  What that means is that it can benefit the insured while he or she is alive.  Should they have a terminal illness (an illness that is expected to last 24 months or less), a chronic illness (similar to the need for long term care), or a critical illness (such as heart attack, stroke, cancer, paralysis, etc).
  1. Retirement Plans
PBS did a special on 401K plans last April, 2013.  It was an hour long documentary called The Retirement Gamble.  You can view it here:
What’s new is that now you can save and accumulate money for your retirement without risking your money in the stock market.  You can actually have your money safe, link to an index, (such as the S&P 500 index) and participate in some of the upside potential without any of the downside risk.  You can even do this with your former 401K plans and 403B plans, as well as starting and contributing to your own SEP plan, Roth IRAs and/or traditional IRAs.
  1. Long Term Care Plans
Years ago, Long Term Care Insurance (LTCI) was available for home health care only OR nursing home only.  Today’s policies cover home care, assisted living, adult day care, and nursing home.  They are fully comprehensive.  You can purchase “return of premium” rider within your policy in the event that you never end up using the LTCI.  Most people didn’t purchase this rider because of the additional cost.
Well now there are policies that are a win win for the insured and their family.  For example, a hybrid product may combine life insurance with long term care, so that if you need it for long term care its there, if not it passes to your beneficiaries.  And in some cases you may get your money back if you change your mind.
Another hybrid solution is an annuity with long term care.  Again, a win win situation.  Both hybrid solutions require a lump sum deposit.
If you would like to learn more about the above topics, or if you’d like to learn how to protect yourself from the what ifs in life, please feel free to contact me.
Sara Finkelstein

Signature Advisory Group
269 SE 5th Ave., Delray Beach, FL 33483
  Phone 561-503-4803

President - Sara Finkelstein

Private Reply to Sara Finkelstein

Apr 16, 2014 2:39 pmre: The World has Changed#

Walter Paul Bebirian
Sara -

the questions that you placed in your post -

Why is it that one dedicates 4-5 years getting a college degree and then can’t find employment?

Why is it that preparing for and having a “good job” does not mean you will be set for a happy, carefree retirement?

Why is it that we’ve been taught to study hard in school, work hard at a job (or career) and you will be successful?

can be answered simply by understanding that none of the questions posed indicate anywhere that individuals be trained - taught - educated - encouraged or if you will - not even forced to think for themselves -

instead most of the activities - including what you are proposing - are things where people are following the crowd - everyone goes to college - everyone wants a good job - everyone who has one type of insurance has this other type of insurance and everyone is encourage to plan for retirement -

no one thinks of how much farther they can go without college - except for a Steve Jobs or Bill Gates -

entrepreneurs with positions of ownership in the companies in which the above two named individuals worked do not want jobs - but look to create jobs -

and people who earn enough from their own business often self insure building a much greater massive wealth trust than they might otherwise do purchasing insurance from another company -

this is a business networking platform so I would imagine that is OK to encourage people in ways that will help them succeed in their businesses including being different - or being crazy and Steve Jobs referred to in his famous ad - here's to the crazy one's -



Private Reply to Walter Paul Bebirian

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