Archive for September 2015
[by Russ Thornton] At some point, 70% of people over the age of 65 will need some form of long-term care and support.
I get a lot of questions from clients about long-term care insurance.
Yet, I find many people are more willing to discuss their estate planning (and their mortality) than the possibility of finding themselves in a situation calling for long-term care.
Typical objections to insurance for long-term care include:
- It’s too expensive,
- My kids/spouse/family will take care of me,
- I’ll pay for it myself out of my savings and investments,
- or something else.
And let me mention the fact that I don’t sell long-term care or any other type of insurance, so I’m not sharing this information to motivate you to buy something from me.
In fact, long-term care insurance isn’t necessary for many, despite many insurance companies’ and agents’ best attempts to use fear-based tactics to sell you policies. Read the rest of this entry »
As of today, all three market indices Dow Jones, Nasdaq and the S&P 500 are in correction territory, meaning they’ve all fallen more than 10%. Last time this happened was in 2011. Then I wrote an article “How Often Does Market Correction Happen?” to calm the nerve of my clients and readers.
The key insight from that article is this. A 10% correction happened every other year in history, so you shouldn’t be surprised by it, nor should you be panic. In particular, this 10% correction is kinda over-due since that last one was 4 years ago.
In addition, don’t be surprised by a 20% correction over the next month and a half. The last time we had a 20% correction was in 2009. That was 6 years ago. In history, a 20% correction happened every other five years, give and take.