Financial Products

Overview of Financial Products 

One of the most important basic elements of financial planning, aside from asset accumulation, is the area of "Risk Management". This term describes exactly what it is; managing your risk utilizing specific products. This is done with the thought in mind "what if...."!

What if I were to get sick and couldn't work to bring in a paycheck, what would happen? How long could I go without income? Could my wife and children keep the house if I died? What would happen if I became mentally impaired and my husband couldn't care for me? Would an assisted living facility ruin us financially?    

Although we don't want to think about these things, we have a responsibility to those we care about that require us to prepare for those eventualities. A good financial plan will contain products designed to mitigate potential risk to a client and protect their loved ones..

The other part of the plan is asset accumulation and the best products to use based on the client risk tolerance. Generally these are financial products that are in used in conjunction with the client's existing pension or retirement plan. We then need to design the plan to accommodate the client's time horizon to retirement and the estimated level of income projected to be required.     

Risk Management Products
Life Insurance contributes to managing risk not only in the event of death, it also can provide a supplemental income for the insured at retirement. Different types of life insurance offer different types of benefits depending on the circumstances of the insured. 

Disability Insurance protects the worker from loss of income. There is much to be considered with this type of insurance and it can be confusing to the average person. Generally, most employers who offer a benefit package will have a disability element available. The question is would it be enough in the event something happens? 

Health Insurance is certainly a necessity for everyone, especially as an individual ages. Do you want a PPO or a HMO? What is the difference? How about a Health Savings Account (HSA)? Would that be better for me and my family? There are a lot of questions when it comes to health insurance if you require a individual plan. Those who have the benefit of an employers plan have easier choices.

Long Term Care Insurance is protection against using all of your assets for assisted care. This benefit pays a specific amount on a periodic basis for a certain term to cover the cost of that care. It doesn't matter if it is a nursing home, home care or an assisted living facility, this coverage is designed to pay most, if not all, of that care.
 
We have always offered long term care insurance to my prospective and existing clients. A couple of years ago I joined the American Association for Long Term Care Insurance (AALTCI) in order to stay current with the latest news, products and services for the benefit of my clients.

If you are outside of California and would like to contact an experienced agent in your area, visit http://LongTermCareInsurance411 They have a national listing of long term care specialists and very likely, one near you.

Recently, we have joined forces with a long established company who specializes in this product and nothing else. This strategic alliance with California Long Term Care Insurance, Inc. will serve to provide my clients with not only the best service but also with the significant expertise gained from long time involvement in this important product.

Accident Insurance. There are many benefits from the protection provided by this type of insurance. It can cover just about any unforeseen circumstance that may occur. There are other benefits associated with this coverage such as prescription discounts, imaging discounts and more. Review the coverage and all the benefits that are available at;

HTTP://WWW.NACDBENEFITS.COM/WALSTINEFA
               
There is a lot to consider as well as a lot of questions to be answered when it comes to risk management. The best website to get answers (and also find other questions that pertain to your situation) is Life Answers. The link below will take you directly there.

WWW.LIFEHAPPENS.ORG

Asset Accumulation Products

As an individual or a business owner, you can grow your assets utilizing many different strategies and combinations of products, depending on your time horizon. We can help you achieve your financial goals in the areas identified here.      

Capital Accumulation using fixed, fixed index and variable annuities, mutual funds and bonds based on the risk tolerance of the client

Retirement Planning to maximize your retirement account so you don't have "more month left at the end of the money"

Estate Planning to minimize the impact of estate taxes and to leave a legacy for your children and grandchildren

IRA Planning so that you don't let your IRA be an IOU to the IRS. Depending on your age, all or part of your Traditional IRA can become a Roth IRA and provide you with tax free income when you retire.

Qualified Retirement Plans such as Pensions, 401(k) and 412(i) plans
 
Business Disposition Planning to get the best return for the time you invested
 
Executive Fringe Benefits to assist you in retaining good executive talent

Group Insurance Products to assist you in retaining good employees

Educational Workshops to make your employees more valuable and increase loyalty to your business.

Debt Reduction Software

My GPS For Money is a software program designed to reduce the time to pay off your mortgage and increase your equity. The program can eliminate your consumer debt to help you accumulate more  wealth. (see detail page on this website)

We have always offered a complimentary initial consultation to review any areas of financial concern you might have. There is never any obligation and based on the information you supply, I will develop a personal “Financial Needs Analysis” report for you. Review the above services I provide to my clients. Perhaps one of these areas might be of concern and worth investing the time for a discussion.

Please note that due to the frequent need to be “in the field” for meetings with existing and prospective clients, my office meetings are conducted by appointment only.

Ray Walstine                                                      
(310) 251-5762 direct
ray@walstinefa.com