Featured Articles.

Retirement Planning 101: Adult-Education Class Registration Open, Make Informed Financial Decisions

Posted by on Jan 21, 2013 in Featured Articles. | 0 comments

Planning for retirement has become more challenging than ever. The CAIFL wants to ensure that retirement is attainable for all individuals. The community is invited to attend Retirement Planning 101, an adult-education course presented by CAIFL.

Read More

Retirement Planning 101, Yuba College Adult Education Course Presented by CAIFL

Posted by on Jan 17, 2013 in Featured Articles. | 0 comments

Examine your financial future and learn how to plan for tomorrow – enroll in California Institute for Financial Literacy’s four-session course, Retirement Planning 101 – an Adult Education Course, held at Yuba College in February.

Read More

Retirement 101: Northern California Adult- Education Course Open to the Community

Posted by on Mar 22, 2012 in Featured Articles. | 0 comments

Are Boomers Prepared? Local nonprofit, CAIFL, to host: Retirement Planning 101, an adult-education course at Yuba College and William Jessup.

Read More

Long Term Disability Basics

Posted by on Mar 19, 2012 in Featured Articles. | 0 comments

Disability Income A working age person is three times more likely to have a disability lasting 90 days or more than they are to die before age 65! To get a proposal: Send a Request to scott@marcouxinsurance.com Client Information Needed: Name, State of Residence, Age, Gender,Occupation, Tobacco Use, Duties, Who is paying Premium, Income, Group LTD, Individual DI, Other-Medical Conditions No need to specify benefits unless there is something specific Disability Insurance – Business Overhead Expense – Disability Buy-Out Carrriers: Primary White Collar Carriers: Principal, Standard, MetLife Primary Grey Collar Carriers: Standard, MetLife Primary Blue Collar Carriers: Assurity, Standard, Mutual of Omaha Terms: Guaranteed Renewable – Non Cancellable (Non-Can) Own Occupation (Own Occ) – Your Occupation – Any Occupation Waiting Period – Monthly Benefit – Social Insurance Substitute Benefit Increase – Cost of Living Increase – Benefit Duration   Did you like this? Share...

Read More

Long Term Care Considerations

Posted by on Mar 18, 2012 in Featured Articles., LTC | 0 comments

Below is an excerpt from the California 8 Hour Mandatory Long Term Care Course for brokers and agents.   –The types of care and services that characterize long term care range from periodic assistance or unskilled care(often provided by family) to highly skilled nursing care. -Quite often, an individual’s long term care begins with a need for only a minimal amount of assistance, such as help preparing meals or transportation.  If his or her medical and/or cognitive abilities start to decline, the person may soon additional  help with such things as taking medications or transferring. -The next step on the continuum of care may involve a move to an assisted living community or other long term care facility. SERVICES AND FACILITIES ALONG THE LTC CONTINUUM The following are different types of Services that comprise the long term care continuum, from low intensity services through post-acute care care. chore services-Volunteers or paid workers who buy groceries, mow lawns, run errands, and perform light housework. senior center-Provides social activities, lunches, therapy, and games. home health care-In home services by nurses, physical therapists, dieticians, and others. rehabilitation program-Provides extensive physical therapy, occupational therapy, and speech therapy. respite care-Care provided by individuals who relieve primary care givers. retirement housing communities-For independent elderly, these communities offer individual living, self contained living units, building security, and social activities. continuing care retirement community-Provides a continuum of care ranging from retirement housing to skilled care. assisted living center-Offers medical attention, assistance with eating, bathing, and otheractivities of daily living. skilled nursing facility-Provides intensive nursing care around the clock. acute care-Surgical or hospital care with lengths of stays limited by diagnosis related group caps. LEVELS OF CARE ALONG THE CONTINUUM CUSTODIAL CARE(does not require doctors orders/personal care) INTERMEDIATE CARE(medically supervised care) SKILLED CARE(24hr/day/7 days/wk. care performed by skilled medical personnel) LIKELIHOOD OF NEEDING CARE As people age, the chance that they will require assistance increase significantly.  According to one study, half of all Americans age 65 or older will require some type of long term care assistance*.   By the time an individual reaches age 90, the risk of spending time in a nursing facility increases to 75 percent. Women are more likely than men to eventually require long term care assistance, whether at home or in a nursing facility.  Most nursing home residents(68 percent) are women, and most(64 percent) of the 1.3 million individuals receiving home health care across the country are women as well.** COSTS: How expensive is care?  The 2010 average daily rate in the United States for a private room in a nursing home was $206 a day($75, 190 per year).  This represents a 5.1 percent increase over 2009.***  For a semi-private room in a nursing home, the 2010 average was $185 per day($67,525 per year), a 5.7 percent increase from 2009 average.  The average cost of care in California over the last 20 years has increased at 5 percent and in 2010, the average cost of one year’s stay in a private nursing room was $87, 345($239′ per day).  CLICK HERE for cost break down around the state.   ______________________________________________________________________________________________________________________________________________ *California Partnership for Long Term Care **U.S. Census Bureau, 2008. ***Genworth Financial 2010 Cost of Care Study Survey. ______________________________________________________________________________________________________________________________________________ Did you like this? Share...

Read More

To Pay or Not to Pay?

Posted by on Mar 7, 2012 in Featured Articles. | 0 comments

Author: A. Cole Garcia   Many clients will be facing a mortgage payment well into their retirement. The phenomena is fairly unique to Americans and until recently was almost never the case.  A very common question I get from pre-retirees is whether using a 401k or IRA to pay of their mortgage prior to or just after retirement is a smart planning strategy. The answer most often is, no. There are three reasons why not: 1) The mortgage interest deduction. Most taxpayers can reduce their taxable income by the amount of interest they have paid that year in mortgage interest,2) Interest rates are at all time lows and 3) that the fixed interest rate 30 year mortgage is the greatest thing to happen to borrowers since the invention of compound interest. Yet from a lenders standpoint loaning money at a fixed interest rate over a 30 year period with no prepayment penalty is almost assuredly a bad investment. How can that be. Well we must remember that banks not only loan money but they also borrow money in the form of savings accounts and Certificates of Deposit (CD’S). For example back in 1982 interest rates were 15%. If a bank loans money to you to buy a house at 15% interest with no prepayment penalty you will most assuredly re-finace that mortgage when the rates drop. But the banks are still having to pay out interest at 15% on loans it made in the form of CD’s. On the other hand if you borrowed money from the bank today at 4% will you be willing to refinance when the rates start to rise? No of course not! But the banks will be paying out higher and higher interest rates on the money they borrow. For a bank the 30 year mortgage is a lose/lose investment. So why do they do it? If you guessed Fannie Mae and Freddie Mac, give yourself a gold star as you are correct. The only reason banks offer 30 year fixed rate loans is because of the backing by the US taxpayers. If you have watched any of the republican debates you have heard Ron Paul, the libertarian congressman from Texas, repeatedly talk about the artificial boom’s and bust’s that the US government creates via the Federal Reserve and Fannie Mae and Freddie Mac. If we look at what is happening with interest rates today we can see that the US government is setting us up for yet another boom and bust. In its insistence on keeping interest rates near record lows the Federal Reserve is setting the banks up for another bust. When interest rates rise in the future most Americans, the ones who have been able to keep their houses and their home loans, will be paying ridiculously low interest rates while the banks will be having to pay higher and higher rates which at some point will lead or contribute to another round of bank failures and ultimately more government intervention.  In recent history we have had real estate bust’s in the mid 70’s, early 80’s, mid 90’s and we are currently mired in a recession in part created by a real estate bust. So back to my original question. Does it make sense to take a lump-sum out of savings or retirement plans in order to pay off or pay-down a 30 year fixed mortgage? The answer is almost always NO. As a borrower you could not be in a better position. Coupled with the mortgage interest deduction and the tax liability for liquidating a 401k or IRA, in almost...

Read More