Inheritance

Long term care is the type of care you may need if you have a prolonged physical illness, disability or severe cognitive impairment (such as Alzheimer’s disease) that keeps you from living independently.

Here are some very important things to consider when meeting with your financial advisor and planning you long term care:

• Two-thirds of people over age 65 will need long term care in their lifetime.
  

What is a baby boomer? If you were born between 1946 and 1964, then you probably are familiar with the term. Many baby boomers are the product of parents who survived The Great Depression. Yet as baby boomers approach retirement age, many financial experts feel that they may be more ill-prepared financially than their parents for retirement.

An IRA is already an appealing retirement saving vehicle. Now, several provisions in recently enacted federal laws may make IRAs even more attractive.

Plan Beneficiaries.

I’ve known franchisee Ike for several years, ever since his trusted public accountant Ronald introduced us. Ronald wanted me to implement some tax minimization and tax deferral solutions for Ike, focusing on executive compensation, pension and succession exiting strategies. Ike is a multi-unit franchisee with plenty of business sense but everyone can benefit from some outside advice.