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Leave a Legacy of Love. Start Planning Today!​​

4/16/2015

 
Leaving a Legacy
​We all want to leave something behind for those we love. We want to be remembered. We want the world to be a little bit better because we were here. We call that a legacy. And the best legacy we can leave is the legacy of love. So how do we show and tell our love to our family and friends?

Financial Planning Is Love
Not everyone's love language is fancy words. For some, a simple hug, a kind smile or a helping hand is the preferred language of love. Everyone has a different way of saying, "I love you." As long as the one receiving our love hears it loud and clear- we've done well. But all of us can grow and add new ways of saying "I love you." One of those ways may surprise you- financial planning and life insurance.

When your spouse, your children or grandchildren, or your nieces or nephews receive the benefits of your financial planning and life insurance in Napa, CA, they hear one thing loud and clear... that you loved them enough to plan for their future.

Financial Planning Is Easy
There are hundreds of financial advisers in Northern California who are ready to tell you about complicated ways that you can financially plan for your future. But it's really simple, as discussed in this excellent article by Forbes magazine. Check out these first three steps:

1. Spend less than you earn.
We know that this is easier said than done. As a matter of fact, it's the simplest thing to understand in financial planning, and the hardest thing to do. So, sit down some Saturday afternoon, drink a cup of coffee- brew your own and start spending less right away! Add up your bills on one side of a piece of paper, and your income on the other side. Then drink some more coffee, and see what you can cut from the budget in order to make way for step number two.

2. Pay yourself first.
Before any money goes out the door- write a check to your savings plan. Auto draft from your checking account works even better. Think how good you'll feel as you watch your savings plan grow each month. 

So where do you start? What type of savings plan is right for you? 
  • Is it an annuity?
  • Is it a Roth IRA (and hey, what is a Roth IRA anyway?) 
  • Is your 401k at work enough? 
  • How does a 529 plan work?
  • What about Life Insurance- can that build savings too?

Talk to an experienced insurance agent in Napa and to get some answers. And if you don't have an agent with whom you are comfortable- contact us.

3. Insure your big risks.
Here's where your insurance agent in Napa can shine! It's no good saving a huge nest egg for your future, and especially for the future of your loved ones, if one unexpected loss or lawsuit takes it all away. Of course you can't guarantee that every risk can be protected against... but you can reduce your risks of loss substantially with good auto insurance, homeowners insurance and umbrella insurance in Napa and Sonoma California. Make sure you sit down with your local insurance agent to make sure that you have enough coverage against the big risks.

Financial Planning Includes Life Insurance Too
You can plan and save, but death can take it all away if you don't plan for that too. Nothing says "I love you" and leaves a legacy better than plain old fashioned life insurance.

After the funeral is over, and the grief sets in for the long haul, your loved ones will need the money that you left behind. Their lives will be changed forever now that you are gone. That can't be helped. But they can begin to rebuild with the legacy of life insurance that you left them. Make sure you have enough, and that it's doing the job you need it to do.

Contact us to discuss your life insurance. We are your neighbors in Napa, CA. Let us help you.

Long term care costs can destroy a legacy

4/9/2015

 
How much does a nursing home cost in Napa, CA?

​According to a report published in 2012 by the office of Statewide Planning and Health Development, the average daily private pay rate (ADPPR) for a skilled nursing facility in Napa County was $265.36.

That's $96,856.40 per year.

That figure can be even higher in other California counties. For instance, In Sonoma County, it's $107, 620.25 to stay in a skilled nursing facility for a year. And in Marin County, it's $112, 799.60.

What are my chances of needed long term care?Statistics are everywhere, and statistics can be used to frighten you. We don't want that.

However, reliable sources, like the U.S. Department of Health and Human Services say that if you are 65 years old right now, your chances of eventually needing some kind of long term care in California are almost 70% That's 7 out of 10.

Fortunately, most people who need long term care find that they need it for less than one year, or they find that they need less expensive care than a nursing home, such as some professional in-home help. The alternatives to nursing home are are wonderful these days.

You may say, "what are the odds I'll ever have to go to a nursing home?"
By the time you make it to 65 years old, you have a 35% chance of entering a nursing home sometime in your life. That's a 1 in 3 chance you'll need expensive care. More significantly, if you enter a nursing home, your chances of staying there for 5 years or longer is 10%.

What does all this have to do with destroying a legacy?You may have worked hard to build more than just a retirement for yourself. You may have also built a financial legacy for those you love.

If you have something to leave for those you love, the same nursing home that gives you extended comfort and care at the end of your life, can also be the destroyer of all that you've worked hard to pass down to your loved ones.

If you experience a nursing home stay of 5 years (and that is a real risk)... you will most likely have to spend up to half a million dollars of your own assets. For many folks, even those who have been very blessed and successful, this can devastate most or all of the inheritance that they wanted to pass down to their children or grandchildren.

Nursing home costs destroy assets.
What can I do about nursing home costs?If you have assets to protect for your loved ones, you can do something.

Call Sackrison Insurance in Napa, California. We specialize in asset protection, and we are very experienced with all of your options for Long Term Care Insurance in California. California has very specific laws and policy guidelines- what applies in other states may not apply here.

You need an experienced agent to help you understand your options- an agent who knows coverage limits and can weigh your risks against your needs.

Call an agent who understands California plans, like the California Partnership for Long Term Care.​

​I'm that agent. Call me, Bruce Sackrison, at 888-332-6609.
    Picture

    Bruce Sackrison

    Napa, California
    (707) 931-018

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Napa, CA 94558


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