In the 2008 financial crisis, insurers (outside of AIG) weren’t discussed too much. Yes Metlife, The Hartford, and a few other insurers had financial problems, but considering that there are 1,500 life insurance companies in the US, there was very little strife. Furthermore, it wasn’t AIG’s insurance business that got it in trouble either – [...]
I am running into a number of younger clients who are inheriting more and more from grandparents and parents. Thankfully, many are honoring the hard work and thriftiness of their family by investing the inheritance and not wasting it. With much of our country’s wealth in the hands of retirees, this trend should continue. And [...]
Image courtesy of www.LearningDSLRVideo.com You are likely among a large amount of Americans that manage their financial accounts online. You love it because it saves paper, cost of stamps, and eliminates the risk of people peeking into your paper mail. The financial institutions love it because they save money (which they don’t pass on to [...]
(Photo used with Creative Commons Permission from JD Hancock on Flickr) In the past, divorcees who did not update beneficiary forms after the divorce (thereby leaving the former spouse’s name on the form) created controversy for their trustees and executors when the ex-spouse attempted to claim assets where they were named beneficiary. A new statute [...]
Three for three… Those are the numbers on my most recent clients and whether or not they needed their liability coverage completely revamped. Let’s review the action shall we? Typically, I see coverages of about 300,000 for liability on auto insurance and 500,000 or 300,000 on homeowners’ insurance. Which means per incident, the coverage could [...]
It’s coming. The fastest growing economies are just tired of our BS. As a nation we use our military and our dollars to try to influence other countries. Contrary to what many people think, these folks don’t like that. Which is why they’re doing things like this: India Will Transact with Iran in Rupees What [...]
Many of my clients are aware of the fact that their children’s activities with the family car and other family property exposes them to liability. However, I would guess that many people don’t think about the consequences of letting a friend outside the household borrow their car (or boat etc). A recent example:
A wonderful story appeared in the financial blog GetRichSlowly: Rather than blab let me share the author’s words: But the most unexpected financial lesson my father taught me came after he passed away. I am the executor of his estate. My dad was always a planner, but the things he did to make this processes [...]
“may I borrow your car?” A simple enough question. Perhaps your granddaughter or your neighbor’s son made this simple request of you. How did you respond? Many people would say yes to such a “simple” request – it seems harmless enough. But what’s the downside? First off, if the person asking does not have their [...]
The point is that the much higher premiums paid by older folks who are likely more motivated to buy the insurance, skew the numbers and cost ideas that most think about. According to stats in the article, almost half of long term care insurance purchasers pay <$1,500/year for their premium.