The Next Steps of Financial Planning

So you’ve got a health care plan in place … now what?

Navigating the ins and outs of Medicare coverage is not exactly what most people would consider to be ‘a walk in the park’, but with a little help from your trusted advisor, you managed to get it done. But before you pop the cork on the celebratory champagne, you should know that securing coverage is only the first step of the process.

Creating lasting security for you and your loved ones means crafting a detailed, step-by-step financial plan that accounts for things that you might not have thought about, such as the surprising costs of long-term care or the oft-overlooked importance of creating a living will.

At MediGap Advisors, our Six Step Financial Planning Program is meticulously designed to help you create a path to lasting security and protection, not just for you, but for the people that you love most. Designed by financial experts to specifically maximize income and minimize risk, our program is the most surefire way to ensure that your future is adequately protected.

Oh, and did we mention that it was easy?

Optimizing Your Health Coverage

If you are one of the all too many Americans who prefer to keep their head in the sand when it comes to thinking about health care, it is highly likely that you are not getting the best rates that are available.

The first step of the Financial Planning Program is meeting or checking with your personal advisor to see if other plans are available that might be more affordable or offer better benefits than your current plan. Because rates have a pesky tendency of changing all the time, scheduling an annual check-in with one of your Personal Benefits Manager is an essential part of the optimization process.

Plan for Retirement Income & Long-Term Care

The unexpected costs of long-term care can derail even the most generously structured retirement plans. While everybody knows that having an income in retirement is important, very few people plan for the additional costs of long-term care. Seeing as how over half of all individuals over 65 will require some type of long term care (sometimes totaling as much as $300,000) this lack of foresight has led to countless ruined retirements.

Steps 3 and 4 of the Financial Planning Program offer a one-two punch of retirement protection, beginning with an income plan and proceeding to the potential of long-term care. By having financial contingencies in place for every possibility, you are investing more into the value of your retirement.

For those of us who don’t have $300,000 kicking around in the couch cushions, it’s a no-brainer.

Protect Your Loved Ones

Contrary to popular belief, the most difficult part of retirement planning is not the numbers, dates, or deadlines. It is the conversation with ourselves in which we are forced to ask, “Who is going to take care of my family when I’m gone?”

Picturing the world without yourself in it is indeed one of the more unique challenges of growing old. Creating a detailed plan for how your assets, belongings, and wishes will be carried out can offer a much-needed sense of relief. This peace of mind is the ultimate goal of the Program, and specifically addressed in steps 5 & 6.

Six Steps to Financial Protection: Download the FPP Today

As a client of MediGap Advisors, you are uniquely entitled to the expert planning advice offered within the pages of the Six Step Financial Planning Program. This easy-to-understand report is a friendly walkthrough of the most important considerations of long-term planning.

You can download the report here, and start down your own path to financial protection.

After all, you’ve worked hard to get to retirement, and there’s no reason why you shouldn’t be out enjoying it.

To your health and wealth,

Wiley P. Long, III
President – MediGap Advisors