Last week we began a two-part series outlining the questions you should be asking but probably aren’t as you approach retirement. In part two, we’ll examine the controversial topic of life insurance. Some see life insurance as an income replacement, and others view it as a way to leave a legacy. Others still argue it just makes insurance companies wealthier. Join us as we challenge you to consider whether life insurance is beneficial to you in retirement.
In The News:
[3:50] – February saw a steady climb on Wall Street. Nathan explains how a slow and steady approach is a healthier approach to investing.
The Confidence Corner:
[6:00] – Many folks want to know whether they should continue to own life insurance in retirement. Most people own term policies, and they don’t need them once they retire. However, we’ve worked with certain clients who still value term policies in retirement. Nathan explains why your life insurance needs should be dependent on your situation.
[8:50] – Some advisors push life insurance as a way to leave a legacy. In reality, life insurance isn’t a good investment, and when you purchase it as an investment, you’re making life insurance companies wealthy. You’d be much better investing that portion of your wealth in the market in order to create a legacy.
[10:50] – Medical coverage is another element of retirement planning that our clients tend to forget. Medicare won’t cover all of your medical needs, so you need to consider what medical coverage you’ll need above and beyond Medicare.
[13:47] – Jocelyn owns several blue chip stocks, and she’s owned them for many years. She’s been told she needs to find safer investments as she approaches retirement, and she wants to know what she should do.
A Point Of Wisdom:
Nathan O’Bryant – Contact