The world of retirement planning, insurance, and investments can be complex and confusing, but a little Gabor everyday guidance can help clear your path to success. Experience has taught us that a strong financial plan is comprised of five key steps:
1. Health Insurance
Did you know that medical expenses are the number one cause of bankruptcy in America? (study completed by NerdWallet Health). It’s imperative that you insure yourself against the rising cost of healthcare and the financial risk of having a major medical event. All State of Florida employees must choose a health insurance plan in their first 60 days of employment. For more information click here. Note: The Gabor Agency acts only in an advisement capacity for university employees who are seeking health insurance.
2. Long Term Disability
Your income serves as your most valuable asset. Owning disability insurance is critical to maintain your standard of living should an injury or illness affect your ability to earn a paycheck. Here’s a statistic to remember: The Social Security Administration estimates that 3 out of 10 Americans entering the workforce will become disabled before they retire. Help protect yourself now with comprehensive coverage you know you can rely on later.
3. Life Insurance
This is the primary tool for helping to protect your loved ones. Too often, families must bear the burden of making drastic decisions when a family member passes away. Life insurance helps support loved ones and helps ensure that your family can live comfortably even in the most difficult times.
Saving is an important part of making an enjoyable retirement a reality. According to a survey completed by LIMRA over half of the American population does not currently save enough funds to retire in the future. Creating a customized, detailed plan for accumulating and preserving your savings while preparing for the unforeseen is extraordinarily important. It’s vital to start sooner rather than later.
5. Long Term Care
At this step, it’s understood that you’ve properly insured yourself by obtaining health, disability, and life insurance, and you’ve planned for your future security by building a strong retirement savings plan. Financial protection through long term care insurance is the final step to helping with a comfortable future. Setting up a Long Term Care plan will help avoid potential pitfalls involving the sudden and unfortunate liquidation of your hard-earned assets or becoming a burden on your loved ones.
Have questions about our Five Step Plan? One of our experienced representatives is more than happy to meet with you and provide everyday guidance. Click here to contact Gabor!