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The First Financial Drawers you need filled
Coverage #1The Health Drawer
- Health Benefits from your employer?
- Covered CA Health Plans?
- Medicare (Seniors or those with disabilities)
- Medi-Cal (low income social safety net)
- Medi-Share (Biblically based healthcare cost sharing program)
If you don't have one....start here first. One accident or illness can quickly take you from Financial Peace to Poverty.
Coverage #2 Health Savings Accounts
Even with Health Insurance, you will still have medical, dental, vision, hearing, and other health expenses to pay out of your pocket. Plan ahead with one of these options. Consider these your "Emergency or Contingency " funds.
- Health Savings Accounts (HSA's) *Must have a specific HSA qualified health plan to do this option.
- Health Matching Account (The ultimate Individual or Family Health Account) This is an amazing replacement for Dental/Vision/Hearing Aid policies.
- Employer based Health Reimbursement Accounts or Flex Spending Accounts.
Coverage #3 Life and or Disability Insurance
Life Insurance:
- Protect your loved ones, estate, or business partners with a death benefit payment if you die too soon.
- Life insurance can be "rented" for a term of time when you would need a larger payout in the event of your death.
- Life insurance can be "purchased to be permanent (as long as premiums are paid). These can have other benefits like a build up of cash value. You can take a loan against the cash value if needed, sort of like building your own personal bank.
- Often, a mix of both term and permanent life is best.
Disability Insurance
- Insures your largest asset which is usually your ability to earn a paycheck.
- This is "paycheck insurance".
- If you can't work for an extended period of time, do you have enough of your own funds to live on? Insure your paycheck!
Let me help you understand what you need and how to get it!
Ready for more? Fill your Legacy Drawers
Long Term Care
It's not just what long-term care insurance can do for you, but what it can do for your loved ones.
- Medicare doesn't cover it.
- If you have made it to 65, you have a 70% chance of needing long-term care at some point.
- It's not just nursing home care, it's "anti-nursing home care". Can you afford care to stay in your home?
There are a number of ways to finance home-care and nursing home care.
- $25/$30/hr for home care or Thousands per month for assisted living facilities from your savings.
- Long Term Care policies to pay for all or at least some of those expenses.
- Life Insurance or Annuities with "Living Benefits" and "Long-Term Care Riders.
- Once impoverished, Medi-Cal can assist you but you will have fewer options of where and how you get care.
Estate and Legacy Planning
Wills, Trusts, and Powers of Attorney. You need them! Get it done if you haven't already. I have resources for that.
Learn to leverage a small amount of money to leave a larger (and tax-free) legacy to those you love. Or the causes you love!
If you love your spouse, you will plan to leave them not only in a good financial place, but with the tools to manage those finances.