This "worksite" aims to give you the knowhow to figure out which life insurance, investment and annuity products will help you retire securely and comfortably.

Thursday, November 12, 2015

The Argument for Long Term Care Insurance

by Richard F. O'Boyle, Jr., LUTCF, MBA

As people age, insurance becomes more and more important. Health insurance and life insurance are the two most common sorts of insurance which are important to older adults. But this doesn’t mean that they are more important than some other, less discussed, options.

One example is long term care insurance. Americans are living longer than ever before. What’s more, because of the size of the Baby Boomer generation, it can be expected that there will be more older adults alive in the United States than at any other time in history. As such, there will be many millions of Americans who will be entering a future which is largely uncertain.

I say this because most Americans are not prepared for retirement. More than half of Americans don’t invest at all, and this doesn’t bode well for older adults who are about to give up work mostly or entirely. Indeed, old age can be very uncertain for people who have savings. Imagine what it must be like for people who have little or none?

If you are an adult who didn’t start investing as a young person, you likely won’t have enough invested at the time of your retirement to sustain your present lifestyle. You may have much less than that when the time comes. One of the best ways to prepare yourself for the most financially prone time in your life, without outside investments, is to pay for long term care insurance now. LTC Tree is one of the best ways to find great deals and provisions with regard to long term care.

Long term care will be in the future of many adults, more with every passing decade. Long term care can be had in many different forms. People tend to think of nursing homes when this topic is brought up, but there are more options today than ever before. Some older adults live in active communities, which are meant to keep them engaged with life. But for adults who can not afford something like this, or are too ill, another care facility or in home care are perhaps the best options.

The most attractive of these two tends to be in home care. For adults who wish to remain independent during their retirement, this can offer a measure of freedom well into their old age. Depending on the situation, in home care can be more or less expensive than a traditional care home or facility. While some people will prefer one or the other, long term care insurance can help pay the bills when the time comes.

This makes the prospect much more affordable. Rather than having to foot the bill after retirement, or after an injury or illness, you will have been paying for this form of insurance for many years. It’s also a great option if you want to start such an account for an aging loved one. Many people will care for aging parents or grandparents in their future. What better way to prepare them for a happier, more independent life years down the line than with long term care insurance, something to give them peace of mind for the future.

Wednesday, January 21, 2015

Three Tips That Can Help You Organize Your Search for Auto Liability Coverage

by Richard F. O'Boyle, Jr., LUTCF, MBA

Most Dallas-area auto insurance agents offer auto liability coverage plans that can help you protect yourself against personal and property liability claims while driving. Selecting one of these plans could be worthwhile because they could help you meet insurance requirements that are enforced by the Texas Department of Insurance. 

Here are three tips that can help you organize your search for auto liability coverage policy:

Study Your Personal and Property Liability Coverage Options

Texas state insurance laws require drivers to obtain a minimum amount of liability coverage that protects you from personal and property liability claims that can occur after you have been in an auto accident. 

Most Texas auto insurance underwriters offer personal liability coverage options that usually exceed these minimum requirements. Studying these personal and property liability coverage options is recommended because it can help you customize your personal liability options to suit your driving habits. 

Examine How Your Driving Habits Influences Rates

The price of most automobile liability policies is influenced in part by your driving habits. Some of the driving habits that especially influence the price of automobile liability policies include your use of seat belts and your parking habits. Understanding how these and other driving habits influence your automobile liability rates is worthwhile because it can help you choose the best liability coverage that suits your driving habits.

Examine How Your Home's Location Influences Rates

Contrary to popular belief, your home's location can influence how much you pay for many auto liability policies. This is the case because auto insurance underwriters use information about the safety of your home's location to determine part of the cost of your property liability coverage. 

Most auto insurance underwriters use different statistical methods to determine how your home's location influences your property liability rates. As a result, it is a good idea to examine how your home's location influences your auto liability rates because it can help you choose economical auto liability policies which offer the best coverage options for your family.

As you might have noticed, choosing auto liability coverage policies efficiently requires comparing several important factors that influence the price for auto liability coverage. Comparing these factors requires an organized approach that can help you save time. As a result, feel free to use these tips to organize your search for auto liability coverage that offers the best value.

Tuesday, December 9, 2014

Achieving Diversity in Your Investment Portfolio

Achieving Diversity in Your Investment Portfolio
By Richard F. O’Boyle, Jr., MBA, LUTCF

As you approach retirement, and even during retirement, you want to diversify your portfolio to protect what you’ve earned and to grow more. Getting to this point wasn’t easy so you will need to exercise caution. But you likely want to achieve real growth in the next few years, to maximize your enjoyment during retirement, and to leave something behind for the ones you love. I’ve laid out some of the best ways you can do both. By engaging in some safe and secure allocations, you’ll protect your funds from the whims of time. By taking on some risk, you’ll stand a greater chance of adding to the wealth you’ve already accumulated.

1)    Bonds. Bonds are a relatively stable form of investment. In effect, when you buy a bond, you are lending money to an entity (Federal government, state, municipality or corporation) and will recoup the loan plus interest over the duration of the bond’s term. Federal government bonds have never defaulted in the history of the United States. What’s more, your bond money will generally grow in value faster than the present rate of inflation. Therefore, you won’t lose buying power, while increasing your wealth slightly. Unfortunately, there is a payoff for the security that bonds provide. Just as there is little risk or loss, there is little hope of large gains on this kind of investment. As you age, you’ll want to allocate more and more of your portfolio in secure bonds, but you also want to leave yourself a little wiggle room to grow. This is where the other kinds of investment come in.

2)    Stocks/ETFs/Mutual Funds. If you have invested at all, you likely know about these. These are the riskier cousin to bonds. Buying stocks is buying a little share in a company – which allows you to benefit from the growth of that company. By spreading out your investment across many stocks, through index mutual funds, you will follow the historical upward trajectory of the market overall. Of course, sometimes the market drops and, when it does, your investment will decline with it. But generally, the market grows over the long term. If you expect to have many years or even decades ahead of you, a significant allocation of stocks may be appropriate. You may even be comfortable with more than average. Wisdom typically dictates that you have your age reserved in bonds (a 45-year-old will have 45% of her portfolio in bonds). The remaining amount will be in stocks, or spread out in other kinds of investments.

3)    Binaries, Real Estate, and Alternatives. Spread Betting is a quick way to see return on your investment. It is the quickest way, actually, though caution is urged because you can see a loss just as easily. Other common investment forms like Real Estate and investment in specific business enterprises are less risk-prone, but do not offer the same speed of return as spread bets. Some people feel comfortable investing in gold and other static commodities. While it is impossible to anticipate how something like gold will change in value, its inherent worth is comforting to those who don’t have the same understanding of the stock world.

A diversified portfolio, properly stocked, will carry you through your retirement in comfort and security. Talk to your financial professional about the above options, and about how to best implement your retirement portfolio for your personal needs.