When it comes to IRA discussions, there are two good solutions for those that qualify. The traditional IRA and the relatively new and frequently under-utilized Roth IRA are both available for most families. Though each is intended to be retirement savings, there are some big differences in how both account types will work. Tax Deductible [...]
by Collin Hedegard That’s right! Families can utilize long term care insurance to protect other investments. Specifically, this type of insurance can provide two types of protection. The first is the pure insurance against having to pay for extended medical care such as nursing homes, assisted living, or home health care. The second protection is [...]
Once a family and financial planner have determined the best financial instrument, it is time to select specific investments to use within the vehicle. For example, establishing a Roth IRA to generate some ‘tax free’ retirement income is only the first step. It will be important to determine how the money within the new account [...]
The Role of Insurance in Financial Planning Insurance, especially life insurance, plays a major role in almost every comprehensive financial plan. Though there are hundreds of types of policies, all life insurance has a few critical aspects that families can take advantage of throughout their lives and beyond. As we examine insurance, three phases of [...]
Why Financial Planning? With so many terms and financial marketing out there, it is important to differentiate the concept of ‘Financial Planning’. Having a financial plan is much different than simply investing. Sound financial plans include the aspects of choosing investment vehicles, but also incorporate specific plans for depositing and withdrawing funds. This, frankly, is [...]
