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Long-Term Care Options for Seniors

April 11,17 | 10:12 am

It wasn’t too long ago that aging Americans who were sick, or who needed more than minimal assistance with the activities of daily life, had just two choices. They could either stay at home with a full- or close to full-time caregiver, or enter a nursing home facility.

These facilities were often less than ideal. Many felt institutional or cold, and the care wasn’t always as nurturing as you’d want for your loved one. Continue reading

3 Life Settlement Myths That are Costing You and Your Clients Money

April 07,17 | 11:13 pm

Life settlements can be powerful tools in the right circumstances. They can eliminate costly premiums, liquidate a previously inaccessible asset, help seniors cover long-term or medical care costs, and pad a retirement fund.

Yet despite these potential benefits, many financial advisors are still wary of life settlements. That’s due, in large part, to myths and misunderstandings that many advisors still hold.

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How 4 Innovations in Home Healthcare Are Letting More Seniors Age at Home

April 07,17 | 4:57 pm


Technology is changing every facet of life almost too quickly to keep track. From apps that are helping financial advisors do their jobs better, to personal health and fitness trackers allowing us to see how well we’re sleeping, technology is helping us all do more today than we could yesterday.

This is just as true in the home healthcare field as in any other. This is especially relevant for seniors, as a huge proportion of those needing some form of long-term care receive it informally, from family or home-based caregivers.

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The Worst Financial Advice Retirees Have Gotten

March 29,17 | 3:17 am


When it comes to financial advice, it seems that everyone has plenty to offer.

Invest in these stocks, not those.

Sell those shares now, not later.

Use your savings to buy property, not stocks or bonds.

And the list goes on.

You’d think that once we reached the ripe old age that means we get to retire, people would quiet down a bit with the unsolicited advice. Continue reading

Making the Most Out of Social Security

March 22,17 | 6:32 am


Last year, approximately 61 million Americans received $918 billion in Social Security benefits, with retired workers taking the majority — $55 billion. 9 out of 10 people age 65 and over received Social Security checks, with the funds representing about 35-40 percent of the seniors’ income.

As for the 2017 forecast, a cost-of-living adjustment only raised the average senior Social Security check this year by $4. Continue reading

5 Ways to Prepare for a Healthy, Happy Retirement

March 15,17 | 5:20 pm

If you’ve always imagined your retirement as a carefree time full of travel, golf, or spending more time with family and friends, then it’s a good idea to take action now by making realistic, concrete goals and devising a plan on how to accomplish them.

Keep in mind that it’s never too early to do so, and planning for your post-full-time work years doesn’t have to be complicated either. Continue reading

Building Strong Relationships with Senior Clients – and Their Families

February 23,17 | 6:04 am


When you’re serving senior clients, there are a number of considerations you must take into account.

For one thing, a senior client is usually a matter of years away from retirement, if they’re not already retired. Their financial goals are therefore very different from a client in her 30s or 40s. A retiree is likely more concerned with maintaining wealth and their standard of living, as opposed to actively building wealth.

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What Your Clients Should Know About Provider Direct Life Settlements

February 22,17 | 4:15 pm


Ever since life settlements originated, there have been “provider direct” firms that advertise directly to seniors, offering to purchase their life insurance policies outright for slightly more than the cash surrender value.

This can seem tempting to seniors who perhaps weren’t aware that their policy could be worth anything at all above the cash surrender value. However, in this case, what they don’t know can hurt them – at least financially.

Seniors who opt for these provider direct transactions stand to lose thousands of dollars in by dealing directly with a provider, rather than going through their financial advisor and a life settlement broker. Here’s why. Continue reading

How to Help Your Senior Clients Make This Year Their Best One Yet

February 14,17 | 6:17 am

The end and the beginning of the year are times ripe with opportunity to reflect, repair, and improve our finances. As a financial advisor, you know this better than anyone.

Now that the end of last year has come and gone, and we’re at the start of the new one, your clients are probably coming in ready to roll up their sleeves and get to work on making this their best financial year yet.

For your senior clients, especially ones who are in retirement, helping them do that may look a bit different than it does for your younger clients. Here are a few things you can focus on.

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Your Retirement Checklist: How to Start Your Year Off Right

February 09,17 | 11:28 am


If you’re a recent retiree, you’re probably still getting used to your new lifestyle.

There are a lot of changes to take in, and not just things like having all day to do whatever you like, or not having to get up at a certain time each morning.

Your finances will have to be managed a little bit differently, too. Now that you’re living off the distributions from your retirement accounts, you’ve got to make sure that you’re budgeting accurately, planning for major expenses, and keeping an eye out for alternative options for increasing income, should you need it. Continue reading

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