{"id":28718,"date":"2017-07-12T19:26:37","date_gmt":"2017-07-12T23:26:37","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=28718"},"modified":"2017-07-12T19:26:37","modified_gmt":"2017-07-12T23:26:37","slug":"business-report-planning-peace-mind","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/07\/business-report-planning-peace-mind\/","title":{"rendered":"Business Report: Planning For Peace Of Mind"},"content":{"rendered":"<figure id=\"attachment_28719\" aria-describedby=\"caption-attachment-28719\" style=\"width: 197px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-28719\" src=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2017\/07\/long-term-care-column-brian-johnson-c-197x300.jpg\" alt=\"\" width=\"197\" height=\"300\" srcset=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2017\/07\/long-term-care-column-brian-johnson-c-197x300.jpg 197w, https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2017\/07\/long-term-care-column-brian-johnson-c.jpg 485w\" sizes=\"(max-width: 197px) 100vw, 197px\" \/><figcaption id=\"caption-attachment-28719\" class=\"wp-caption-text\">Brian M. Johnson, director of business development. New York Long Term Care Brokers Ltd.<\/figcaption><\/figure>\n<p class=\"p1\"><span class=\"s1\">By Brian M. Johnson, MBA, CLTC<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">If you\u2019re approaching age 50 or thinking of retirement, keep this acronym in mind \u201cSWAN.\u201d<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">Surveys from folks in this retirement planning age group are interesting because these concerns are almost always in their answers to questions such as:<span class=\"Apple-converted-space\">\u00a0 <\/span>What do you worry about after your working years are over? <\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">Here are some top concerns:<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">\u2022 Outliving my money.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">\u2022 Keeping my nest-egg secure (no or little risk of principal).<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">\u2022 Dying too soon.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">\u2022 Becoming sick or disabled which in turn could eat up my retirement nest-egg.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">\u2022 Becoming dependent on my children.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">\u2022 Leaving a meaningful and significant legacy to my children\/grand-children\/charity.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\"> These concerns are real-life and can happen to any of us without proper planning<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">This is where my \u201cSWAN\u201d comes in. It stands for Sleep Well at Night.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">If you have this SWAN wish for yourself or a parent\/family member, then you need to speak with a competent financial\/insurance advisor that knows about a fairly new financial-insurance product that is extremely popular to folks approaching age 50 and above.\u00a0<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">It combines long term care, critical illness and life insurance along with tax advantaged cash value build up that can be used as an annuity income stream for retirement.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\"><!--more-->It\u2019s truly a multiple-trigger insurance plan that has death, living and income benefits. If you don\u2019t need to leave a family member a death benefit, then consider using this as a bequest to your favorite charity, church or college. They will certainly appreciate it.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">We recently worked with a local financial advisor and her client who wanted to SWAN.<span class=\"Apple-converted-space\">\u00a0 <\/span>She was age 52 and in great health. We accomplished her goals (the bullet points listed above). She and her advisor accomplished her objective of, as she put it, \u201cnot worrying about her financial future.\u201d<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">The problem that many of us have, is that infamous issue of<span class=\"Apple-converted-space\">\u00a0 <\/span>denial\u2014it\u2019s not going to happen to me.<span class=\"Apple-converted-space\">\u00a0 <\/span>And it doesn\u2019t\u2014until it does.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">One of the big issues we have is that folks wait too long to get these plans implemented.<span class=\"Apple-converted-space\">\u00a0 <\/span>And guess what? Their health changes for the worse, or they can\u2019t get standard rates or they\u2019re being denied any coverage at all.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">I urge everyone to start this planning early.<span class=\"Apple-converted-space\">\u00a0 <\/span>Don\u2019t wait. It\u2019s less expensive when you\u2019re younger and many times you\u2019re healthy enough to get preferred rates.\u00a0<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">Statistics show that 70 percent of us will need some form of long-term care before we die.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\"><i>Johnson is director of business development at New York Long Term Care Brokers Ltd.<\/i><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Brian M. Johnson, MBA, CLTC If you\u2019re approaching age 50 or thinking of retirement, keep this acronym in mind \u201cSWAN.\u201d Surveys from folks in this retirement planning age group are interesting because these concerns are almost always in their answers to questions such as:\u00a0 What do you worry about after your working years are [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Business Report: Planning For Peace Of Mind - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/07\/business-report-planning-peace-mind\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Business Report: Planning For Peace Of Mind - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"By Brian M. 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