A blog to help you prepare for life's unexpected
A blog to help you prepare for life's unexpected
It Starts at Home
In my grandfather’s generation, it was just a manner of practice to have a will, life insurance, and a family burial plot with all arrangements pre-determined. In this article comparing Boomers to their Depression era parents, it shared the likelihood that because Boomers grew up in prosperity and have been free spenders, they didn’t save or know how to save, which now is impacting their financial security.
Don’t Wait Until Too Late
The scare of COVID forced many people to get more of their financial and estate papers in order. Since then, there is still a significant gap in what people have completed in case something unexpected happens to them or a loved one. The latest data is concerning.
What is most alarming is the anguish, stress, and disruption it causes families as they discover when it is too late that certain aspects of an estate were not properly prepared, addressed, or were missing entirely.
Don’t be a statistic of could have, should have, or would have. Be the one who truly took care of your family, your assets, and their futures.
Guest Blog: Simple, Not Easy
It is my pleasure to welcome Nic Nielsen with Know My Plan as our second guest blog contributor. Nic has always been on the forefront of financial planning since I met him 15 years ago when he was the first in the territory to offer easy issue simplified underwriting. I appreciate his deep understanding of insurance as a financial tool.
Nic thrives on learning, understanding, and analyzing everything beforehand to affirm it is the right and best option. I admire his patience and ability to listen and relate to each client. In this blog, he focuses on the simple truth of financial and estate planning centered around 6 Big Questions. - Lori
Guest Blog: Don't Forget Yourself
In our last Zinsurance blog, we focused on ways you as a business owner can attract and retain top talent, while also protecting your business. In this blog, I asked Matt Hudack with Financial Synergistics Group to share strategies for the business owner. Too often, business owners focus on everyone else when making plans for their business’ and family’s future.
I hope this blog will remind you how important it is to not forget yourself. - Lori
Attract, Retain, Protect
Hiring and retaining a quality workforce has become more competitive than ever before. The Great Resignation was a call to action for employers to step up pay, benefits, and reasons for someone wanting to stay with a company for the long haul. Creating a win-win scenario balancing the needs of valued employees while also considering the security and stability of business operations is key.
Before You Need It
The recent death of Ray Liotta in late May of this year brought about great discussion in the insurance industry. Why? His death was unexpected on many levels. He was at the peak of his career, at the age of 67. He considered himself healthy and had plans for the future. Then on May 26th, he passed away in his sleep unexpectedly.
He was quoted as saying “For some reason, I’ve been busier this year than all the years that I’ve been doing this. And I still feel I’m not done yet. I just think there’s a lot more.”
Transferring Wealth Tsunami
Forbes magazine reported in 2019 that the greatest wealth transfer in our history was underway due to Baby Boomers coming into the retirement years in droves equaling a staggering $30 trillion in wealth to younger generations. This massive amount of wealth being left to next generations is being called the “great wealth transfer.” In no prior time in the history of America has such a vast amount of wealth moved through the hands of generations.
According to this article, Boomers’ wealth accounted for 70% of all disposable income in 2021.
Needs & Desires Analysis
Since COVID, more than any time in my 20 years in the industry, people have become increasingly interested in understanding how much they should calculate in their financial planning, should something happen to them, to ensure their family is taken care of and not strapped or stressed financially. I am not alone in noticing this uptick in interest.
A Legacy of Giving Back
When it comes to insurance and financial planning, giving takes on several meanings depending on what is important to you.
How are you giving peace of mind to your family with proactive planning and protection? How are you paying it forward through intentional charitable planning?
Keeping all this mind, I would like to share a personal story about my veteran husband, Tony, and his family.
Enabling Peace of Mind
October is Disability Employment Awareness and Financial Planning Month. When you think of disability insurance, what first comes to mind? For too many people, thoughts first go to medical expenses related to unexpectedly being disabled and since their health insurance covers those medical expenses, it can easily be dismissed as not needed. Disability insurance is NOT health insurance. It is insurance to cover your income and personal financial obligations when you are not able to work to earn that income.
About the Blog
Hi, I’m Lori Zeind, founder of LCZ Consulting. I am excited to bring this blog to you. With each blog post, I will bring you insights, along with perspectives from alliance partners, so you can get to know the entire network of experts and knowledge we bring to our commitment to peace of mind for clients.