Today’s Hack:
From the global bond market to living benefits, there are several important financial concepts you might not yet know about. Today’s episode will cover four things you should know when it comes to finances.
Click the timestamps below to jump ahead in the episode…
Video Version:
Other Retirement Facts:
How much financial stuff do you know? It’s hard to know what you don’t know. Today, we cover a whole bunch of financial stuff you should know about (but might not yet).
Did you know the global bond market is much bigger than you might think? Should you move your money to bonds for less risk? Do you understand your options? For instance, are junk bonds worth having? It’s important to understand the risk for your portfolio in order to best determine what is right for your particular situation.
How are tax rates right now? It always feels too high, but if you look at it, right now we are at one of the lowest points in history when it comes to tax rates. Logically, these will go back up. Is your financial plan set up accordingly?
Do you have life insurance? Have you considered using it to help cover long-term care needs? Living benefits may be a creative way to provide for long-term care expenses. It’s all about understanding the pros and cons of having this type of rider in your policy.
What’s holding you back more than anything when it comes to your finances? It might be you and your emotions! An advisor can help serve as a sounding board to keep you from making an impulsive or emotional decision. Further, an advisor can help you reach a better understanding of what is going on with your retirement plan.
Listen to the entire episode or click on the timestamps below to skip ahead.
0:27 – The market is currently back up.
1:20 – The global bond market is way bigger than people realize.
4:09 – Tax rates are very low right now.
5:17 – Living benefits could help provide for long-term care.
7:06 – The biggest impediment to our finances is our own emotion.
Thanks for listening! We’ll be back with another episode next week.
A Quotable Moment:
“If you look at it, step back, and understand the tax history–where it’s been and where potentially we can go–we are at one of the lowest points in history. “
-Phil Putney
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Additional Resources:
- Phone: 248.888.7530
- Email: pputney@afswealthmgt.com
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