September 2016 Edition
The return to school means a return to work for some and a longer commute to work for others. With the return to work we have included an article on the many uses for life insurance for businesses to include income replacement, debt repayment, and stock redemption/ownership transfer. We've also included money mistakes you may encounter, and how Kevin O'Leary 'Mr. Wonderful' from Shark Tank suggests you handle each of them. Two of them in particular, "know your nut", and "tighten your belt" are strategies relevant to your income protection needs.
How much life insurance and disability income protection you should own depends on how much you need to cover all basic living expenses. Once you determine how much you need on a monthly basis you can take the next step to evaluate how much income you need to replace. If you have a hard time surviving with your current income(s), what would happen if you were to lose one (or more) of those incomes due to disability or death?
Have you reevaluated and tightened your insurance spending belt? We can offer you a professional review of your current life insurance strategy to ensure you have the proper coverage at the right cost. Finally, don't miss our introduction to Long Term Care insurance basics to gain a better understanding of where LTC planning fits into your financial plans. As always, we wish you nothing but the best of health.
Enjoy your return to football season with a little light reading!
- Retail sales were weaker than expected in July with slower growth across a broad set of spending categories
- Financial market movements have been muted in recent weeks as market volatility retreats to the lowest levels in more than two years
- The expected small increase in July CPI is largely driven by the fall in energy prices over the month. Core CPI should see a modest uplift as continued economic expansion tightens labor and product markets.
- While hiring remains strong and the number of open positions is extremely high – signs that firms would like to expand – business investment has declined for three consecutive quarters, a rare occurrence in an expansion.