Funding Your Retirement
Whether it's down the road or just around the corner, planning for retirement is a must.
Retiring may be the last thing you want to do or it may be the goal that keeps you going. Whether or not you are planning on it, you should be planning for it. The reason is simple: you are going to need the money, and someday is sooner than you think.
Your future depends on the financial choices you make today...contribute now, thank yourself later.
By saving little by little over time, you can accumulate wealth and benefit from the power of compound interest. Regular investing through a worksplace savings plan or IRA is a great way to save for retirement - and it's so easy to start!
The right coverage can protect your family's future.
As you get older, your life insurance needs will probably change. For example, getting married, having children, or buying a home can increase your need for coverage. However, as you pay off your mortgage or your children graduate from college, your insurance needs may decrease. That's why it is a good idea to review your life insurance and investment portfolio regularly, to be sure you are still on track to meet your goals.
Disability Income Insurance
Disability income insurance may replace part of your income if you are disabled and unable to work.
As you set your financial and investment goals, it is natural to assume you will earn a steady income and make regular investments over time. But what happens to your day-to-day financial security if you are unable to work due to a disability?
To help protect your financial future and the people who depend on you, disability income insurance may ne necessary.
Design College Savings Strategies
Highly focused investment strategies for your children's future.
The money you start saving today has the potential to grow over time, helping to provide the money you will need to help pay for your children's college expenses.
According to The College Board's Trends in College Pricing 2012, the average total charges, including tuition and fees along with room and board, at an in-state 4-year public institution are $17,860 for the academic year 2012-2013. The average published tuition and fees at private nonprofit 4-year colleges and universities are $39,518 per year.
If the cost of a college education increases 6% annually, and your child enters a private college in the 2020-2021 academic year, the estimated tuition will be $70,194 for the first year and a four-year education would cost approximately $280,776.
Estate & Wealth Preservation
Leaving a legacy.
A critical part of developig a financial plan is deciding how to share the assets you accumulate during your lifetime with your loved ones and favorite charities. That includes making gifts to people and institutions and completing a will and trust. The more you have accomplished, the more imortant it is to think long term.
Preparing for potential future care needs.
Long-Term Care (LTC) is a broad term covering everything from around-the-clock nuring home care to once-a-week assistance from a relative.
The average daily room rate for a private nursing home room in California is $301 per day or $109,865 per year according to the Metlife Market Survey of Long Term Care Costs (October 2011). The need for long-term care can put a heavy strain on a family's assets: this can be avoided by properly planning in advance.
Russell Blomberg (CA Insurance License #0B09548) and Sarah Tolson (CA Insurance License #0F43069) are registered representatives of and offer securities, investment advisory, and financial planning services through MML Investors Services, LLC. Member SIPC. (3003 Oak Road, Suite 250, Walnut Creek, CA 94597 (925) 979-2300). Blomberg & Tolson Financial Planning is not a subsidiary or affiliate of MML Investors Services, or its affiliated companies. CRN201905-212279
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