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July 2023 Assuring financial security for your loved ones requires careful planning. When a loved one experiences an extended care event and needs long-term care, it can impact the entire family. The impact can be felt financially as well as emotionally, and there can be a physical toll as well. It’s im portant to plan ahead in order to protect your family. A solid long-term care plan will allow them to lead their lives without excess burden – to let them simply care, without having to provide for your care. What plan have you made? Who will provide the care? Where will the financial resources come from? As we age, we change in some predictable ways – and in some ways that are completely unexpected. Chronic illnesses or disabilities requiring extended care are never planned or anticipated. When it comes to extended-care planning, you must ask and answer some difficult questions in order to provide adequate protection for you loved ones. You have time to prepare. You have time to protect your family. A successful long-term care plan needs to include an evaluation of your current financial resources and a review of planning options to meet future needs. Because this depends on your personal circumstances, your long-term care plan will be unique, and you will need to determine with your loved ones how best to prepare. June 2023 Common Scams and Tips to Help! New scams are always trending. Being aware may help you thwart their efforts. Here’s some information you might be able to use: Common scams Travel
Scam #1 – Cancel for Any Reason (CFAR) policies Travel
Scam #2 – Surveys What more can you do? Don’t let a
call, letter or email alarm you. Verify sources
before acting. The best advice is to first, trust your instincts. If something doesn’t feel right, it probably isn’t. April 2023 Did you know the Knights of Columbus
offer an annuity with a highly competitive current
rate that is locked in for 5 years? The rates below are for March 2023. Vantage Annuity 10% penalty free withdrawal each year. Early withdrawal surrender charges apply. The Vantage can accept both qualified (401k, IRA, Roth IRA, TSP, 457, 403b) and non-qualified money (money you have already paid taxes on). This is a great way to lock in a high
rate of return andguarantee
your principle. Don’t let market uncertainty
derail your retirement plans. Contact me for more information or to set up a time to discuss in more detail. March 2023 This year we’re immersed in Lent for the entire month as we look forward to Easter on April 9. This is a time of renewal and preparation for Holy Week, Christ’s Passion, and his conquest over death in the Resurrection. May your focus be on generous giving and spreading peace to everyone you encounter. Spring...we’ve been through the toughest part of winter and we begin to think about Spring. And Spring is a time of rebirth and renewal: trees may begin to bud and flowers begin to poke through in search of warmer temperatures. The Spring equinox means that daylight lasts as long as night with the earth spinning toward that summer solstice. Maybe, just maybe, winter is behind us. While you’re getting rid of all the old cobwebs of winter and doing the annual spring cleaning, now is a great time to take a fresh look at your family’s financial security. With a wide range of products—life insurance, long-term care insurance, disability income insurance and retirement annuities, I can help you look at your family’s financial situation now and for the years to come. All this while you deal with a company that shares your faith and beliefs and invests in accordance with Church social teaching. As your Knights of Columbus Field Agent I’ve been trained to help you through that important process. Sit down for a short meeting with me and we can use our newest and most advanced financial needs analysis platform that the Order has ever had. I’ll take the time to gather information from you, ask about your wants, needs and desires, and put together any recommendations to help you meet those.. As always you’re under no obligation. I’ll contact you soon to see if an appointment should be our next step. February 2023 More than 70 percent of Americans over the age of 65 will need long term care services at some point in their lives, according to a study by the U.S. Department of Health and Human Services. If that doesn't open your eyes, consider the following statistic: Anyone reaching the age of 65 has a 40% chance of entering a nursing home , with a 20% chance of stating there for at least 5 years. Employer-provided health insurance does not provided coverage for long term care. If you are thinking that medicare will absorb the related costs, you are wrong. Medicare only covers up to 100 days of long term care, but only of you are previously been in the hospital for three consecutive days prior to needing long term services. Additionally, only the first 20 days are covered in full; the remaining 80 days require a daily co-payment. The average cost of a semi-private room in a nursing home at $97, 090 a year or $266 per day. A private room is $303 per day or $110,595 per year. Isn't it worth having a conversation about how the Knights of Columbus can help you either mitigate or eliminate the financial risk? If this is something you would like to discuss, please do not hesitate to call. January 2023 Tax-Deferred Annuities Expecting a tax refund? Even if you’re not, you certainly wouldn’t want to pay more in taxes than you have to, would you? Yet, that’s what you can expect if you have savings that aren’t in a tax-deferred account. Examples include bank savings accounts and certificates of deposit. I can help you to find a good place to put your income-tax refund. The Knights of Columbus offers a highly competitive tax-deferred annuity. You don’t pay income tax on the earnings until you withdraw them – which most likely will occur after you retire. And these tax-deferred earnings compound at a faster rate than money saved in a taxable account. You can make one payment and select the age at which you begin receiving benefits. Or, make periodic payments of as much as you want for as long as you want. Either way, an annuity with the Knights can provide you with a retirement income you can’t outlive. In a financial world characterized by uncertainty, a Knights of Columbus tax-deferred annuity gives you peace of mind. Your principal is guaranteed, and so is a minimum return. What other kinds of investment vehicles give you those guarantees? I can provide you with a customized illustration of how an annuity would work for you. Just give me a call. |
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