Let the recovery begin

Now, more than ever, is the perfect time to call upon our elected officials at all levels — local, state, county and federal — to work together to put our financial affairs in order. It’s imperative for elected officials to reduce the debt that will now be given to the next generation as a result of the legislation — an estimated $350 billion in interest alone over 10 years. Don’t we want to ensure that the next generation will be able to live the lifestyle to which they are accustomed?

Staggering costs
Everyone must understand the staggering cost of entitlements such as Medicare; health care costs continue to grow at unsustainable rates and at a time when families are least able to pay for it. As financial professionals we know all too well Medicare does not cover all medical expenses or the cost of most long term care. Because of this, we must stress to our clients the importance of taking responsibility for their long term care needs. Purchasing long term care insurance ensures individuals receive the care they need — whether at home or in a nursing home — minimizing the negative effect of a spouse or family members.

As the Act takes effect, I encourage you to implement these suggestions with those in your communities. As trusted financial advisors, we will make a positive difference in the lives of our clients.