Are your children out of the house, working full-time and struggling to find a job that offers health insurance? If so, changes under new federal healthcare legislation may be the solution you and your children are looking for.

Many health plans now offer coverage for children up to age 26 under their parents’ policies. It is not necessary that the child live with the parent or be financially dependent on them. The child may also be married.

On the flip side, some employers’ group insurance plans that the law considers “grandfathered” may have conditions of coverage. An example is that coverage may not be available if the child has access to insurance through his or her own workplace.

If you have questions about healthcare coverage for your adult child, give our service team a call.

Calculating Retirement Needs

It’s never too early to start determining how much you will need to save to retire comfortably. On the Web, you can find retirement calculators like the one at www.bloomberg.com/personal-finance/calculators/retirement/. These tools can provide a rough estimate of what you can expect your financial situation to look like upon and during retirement.

There are many components of a long-term financial plan. These include, but aren’t limited to: 401(k) or similar savings accounts, stocks, bonds, life insurance, long-term care and disability insurance, and your property—both personal (your belongings) and real, such as land or commercial sites.

Beyond your assets, you have to consider your future liabilities. Those include medical care, living expenses and any debt you will have.

To build a portfolio that best meets your predicted needs, schedule a meeting with one of our professionals. We can help you integrate your financial products and solutions.

Some policies accumulate their benefit value over time, meaning they are worth more the longer you hold the policy. This may leave the insured’s beneficiaries with a smaller death benefit if death occurs in the early stages of the policy’s life.

Whole life, coupled with other investment products, plays an important role in many investors’ long-term financial plans and can be used in tandem with term life to provide a benefit even after the term life policy ends at, say, age 65. Consider how long you have to invest in a product and what you intend to use the assets for.

There are different payout amounts that you can purchase, and some policies allow you to purchase more insurance at certain intervals throughout your life. Some also give the option to buy small, irrevocable policies for children so they have a ready-made investment when they reach adulthood that they can either continue or cash in.

The death benefit often can be paid as an annuity; although, some policies allow payment in a lump sum, and—if the proper legal steps have been taken—the money can be deposited into a trust for minors.

With all the options available, it’s best to work with an expert. Give us a call to talk about how whole life insurance might fit into your overall investment plan.

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All the experts agree: Every effective financial plan starts with a good budget. Unfortunately, life is so busy for most folks that taking the time to plan a budget just doesn’t seem to be a priority.

In other cases, budgeting can cause a great deal of stress and is, therefore, avoided altogether. Unfortunately, having no way of tracking spending often leads to more debt and, not surprisingly, more stress.

The good news is that the Web is packed with simple tools that can help you create and manage a budget. Many of these services are free.

Resources like these are essential to creating a budget that will serve as a financial foundation for your family. Such a foundation is the starting point to a more comprehensive and long-term financial plan. Stop putting it off create a personal budget today!