Important Financial Questions We Help You Answer
1. We would like to do more things and enjoy life more in retirement, however, the fear of running out of money greatly inhibits us from doing so. Of course, we’re confident our kids won't have this same problem and therefore will enjoy themselves on what we don’t spend. We'd like a permission slip to spend more, but without worrying about it. Any way we could get one of those?
2. We know there is a potential income cliff when either my spouse or I dies, which is reflected by a drop in our income from a reduction in our Social Security and Defined Benefit Pension income. How much would the annual Income Cliff be upon each of our deaths, and how can we protect our incomes? (I'm particularly concerned about my wife since the likelihood is that I will die first.
3. We have a sizeable portion of our assets invested in the market and are concerned about what a major downturn would do to our cash flow. To protect our income, should we consider taking a portion of our assets out of the market to re-position them into something safer that would generate guaranteed lifetime income? (If the husband dies first, the income continues for the spouse. When she dies, any balance left will pass to the children)
4. As we age, we worry about the financial and emotional toll of a long-term care event. Many have bought traditional LTC insurance, but we waited too long and now it's gotten too expensive for us. In addition, one of us has some health issues and can't qualify for the coverage. Are there other options to cover LTC costs and ease the burden on us and our family, while retaining our assets if not needed for LTC?
5. As grandparents, we’d like to provide monetary gifts to our grandchildren while we're still alive, as well as an inheritance when we die. How can we do that so that it is both meaningful and memorable?
6. We have some older annuities and life insurance policies that we haven't really looked at in years, and quite frankly we don't really know or understand what we have? Would it make sense to have a review performed to determine if more modern contracts and policies could fulfill our objectives more efficiently?
7. We are invested in the stock market but are concerned about the possibly of significant losses from a major downturn. What can we do to avoid this from happening, while still earning a reasonable rate of return?
Did you find any areas where you'd like to discuss a solution? If you did, we would suggest you print out this page and then mark those questions which are important to you, and then have it with you to our initial conversation.