Individuals and small business owners
Risks to Income
critical illness (like cancer or heart disease)
How would it impact retirement and/or a succession plan? Disability, critical illness and life insurance are proven financial relief strategies.
Five Risks in Retirement Planning
Longevity - how long you live and need retirement income
Inflation - rising cost of living
Market - variability of investment markets
Health – the cost of future health care
Mortality – if you have a spouse who dies early, how does that impact your retirement income
Add one more; cashflow
Think of yourself as a small business. We all need to fully understand the power of good cashflow management. Many great businesses have failed because of mismanaged cashflow as have many families. Financial stress is one of the leading causes of relationship breakdowns and family turmoil. It is not only lower income families that suffer financial worries and setbacks, it is also higher income families. Many high-income individuals have gone bankrupt. Many of those with high income also have high expenses.