Making the shift from working life, to retirement life, can be a shock for even the most confident retirees. Even if you have saved your entire working life, financial stress can still creep up. Fortunately, there are many relatively easy ways that retirees - and near-retirees - can improve their finances.
Life insurance is one of the most valuable assets owned by consumers; however, it is also one of the most misunderstood when it comes to its present asset value. A life settlement is the sale of an existing life insurance policy (an asset) for an amount greater than the cash surrender value, and less than […]
What is a life settlement? A life settlement is the sale of an existing life insurance policy to an institutional buyer for an amount greater than the cash surrender value and less than the death benefit. A life settlement provides a lucrative alternative to lapsing or surrendering the policy.
According to a research study from the Consumer Bankruptcy Project, the rate of seniors facing bankruptcy has surged five-times-over since 1991. This spike exceeds the demographic shift for the aging population. The report analyzed data across states from bankruptcy court records and written questionnaires, revealing that about 12.2 percent of annual bankruptcy filings are from […]
As a financial professional, your job is to protect your clients’ best interests. Safeguarding assets, evaluating investment options, and advising on savings goals are part of being a financial professional. But senior clients have a unique set of financial vulnerabilities, many of which require a good deal of tact and sensitivity when addressing. Here are […]
With longevity increasing, the state of retirement evolving, and healthcare costs rising, more and more seniors need a financial advisor’s professional guidance. So much has changed since today’s seniors’ parents were facing retirement.
Every day, various clients come to you with a new problem or fear they have for the future. In today's environment specifically, the news frequently reads that stock markets are down, the cost of living is increasing, retirement accounts are crashing, and the list goes on. These valid fears can typically be relieved by generating […]
Every year, thousands of senior citizens in America file for bankruptcy for a variety of reasons. Medical bills, housing markets, long-term care, and more account for some reasons why Americans are in this predicament. However, it could be much worse for those who are beyond their earning years and are in retirement. Where are […]
For many financial advisors, working with nonprofit clients is the gold standard in their industry. Because nonprofits are dependent on the generosity of donors and entities with high net worth, financial advisors who can successfully partner with foundations can often also open doors to valuable partnerships with donors. But the question for most financial advisors […]
It’s no secret that seniors are living longer than ever before. Thanks to medical advances, technology, and other factors, seniors in the 21st century are outliving previous life expectancies. What’s more, people are staying healthier for longer as well. 65-year-olds can generally expect to have plenty of years of active living ahead of them. However, […]
