Our primary aim…
With our Widow Services is to provide the space to grieve. We allow for this by creating clear, simple plans to address the most important priorities first. This removes immediate financial worries during a time that is difficult in so many other ways.Read More
If you’re considering whether to find a certified financial planner, it is critical to think long term. You need to put a plan together that makes sense to you and ensures you are doing the right things to achieve your most important financial goals in line with your values. This is how we help. You might be worried about when you can retire? Are you on track to retire? Can I help my children? I have been saving all my life and now how do I live off my investments without running out? If you find a certified financial planner, it helps in the following areas:Read More
I am often asked the question or some variation from a prospective client: Is your ongoing financial advisory fee really going to be worth it to us? The simple answer is I won’t know for sure until I dig into your planning. I do believe and have found that we provide a very real return on an investment in ongoing financial planning. This comes from the experience of my wife and I working with a fee-only comprehensive planner from before we were married and from my now working with over 150 families throughout my career. Read More
Health care expenses can rise with longer life, which is a big concern when planning for retirement.
You may have seen the recent headline where a 65-year-old couple retiring in 2014 will need approximately $220,000 to cover medical expenses in retirement even with Medicare insurance coverage, according to Fidelity’s recent health care cost estimate.Read More
Aurochs Financial Group is a co-sponsor of a CEU event for Dentists taking place in September. I think it will be a great opportunity to connect with peers and to learn more about this important topic.
Featuring Guest Speaker:
Teresa Duncan, MS, FADIA, FAADOM
Presented by Christensen Dental Consulting.
September 17th, 6pm – 9pm
Location: Ramada Plaza, 1330 Industrial Blvd, Minneapolis MN
Team Members $40 (if doctor attends)
Team Members $50 (if doctor does not attend)
The Affordable Care Ace, SNODENT, Industry changes, PPO’s, & Yearly CDT changes will impact YOUR office in the immediate future. Being prepared ahead of time is the key! Offices that are aware of these changes will weather the storm just fine. Join us for an informative evening as we:
*Discuss upcoming changes to our industry
*Learn about new insurance plan designs and how they affect you
*Prepare your office for upcoming insurance requirements
*Preview the 2016 Code changes to the CDT (current dental terminology)
For more information or to register, contact Gayle Christensen at 763-755-4087
Aurochs Financial Group is a proud sponsor, and would love to see you there!
Your Guide to Financial Independence
If you are member of the “sandwich generation,” you are no doubt a pro at juggling the demands of a career as well as taking care of dependent children and aging parents. It may leave little time for financial planning. You may want to become wealthy, not for materialistic gain, but to provide for everyone around you. At Aurochs Financial Group, we can provide you with financial planning help that is in alignment with your core values and goals. Values based financial planning is particular helpful for members of the sandwich generation that want to save for their children’s college as well as care for parents without neglecting their own retirement. There are several components of Values Based Financial Planning.Read More
At first glance buying life insurance sounds like a straightforward process. For many individuals it involves little more than calling your automotive insurer in response to a letter in the mail offering a “multi-policy” discount or free insurance review. However, determining how much life insurance coverage you should have and which type of policy can best protect you and your family, can and should be more involved than getting an auto insurance quote. Here are some key things you need to know when buying life insurance:Read More
For anyone trying to protect a lifetime of savings while providing for an uncertain future these are probably familiar terms. The notion of needing protection from the impact of a car accident or a fire at home is something most of us learn with the purchase of our first vehicle and house. We tend to become better acquainted with life insurance with marriages, the arrival of children, or estate planning. Over time comes the acknowledgement that sometimes people become sick and need extra care that can rapidly deplete assets, leading to a desire for education on disability and long term care coverages.
Are these the only liabilities that can, or should, be insured against?
The best answer to this question is a resounding – it depends!
Entrepreneurs and business owners know that financial risk comes both from personal circumstance, as in the above examples, and from professional duties. Sometimes insurance is an important part of business financial strategy. A key person policy, insuring the life of a founder or important executive, is oftentimes the best way to manage business continuity in the event someone critical to the business dies unexpectedly. This coverage can allow the surviving spouse or beneficiaries to be bought out, even during times of cash shortfall within the business itself.
What if I don’t own a business? Do I need more than the basics like life, auto, etc?
Unfortunately it’s often not always that simple. Even if your needs don’t extend beyond things like term and permanent life insurance there are special circumstances that require additional planning to manage.
Consider a private individual who has accumulated some valuable artwork, a classic car and a small yacht and intends to leave them to heirs upon death. When included in the value of the estate these treasured items may inadvertently trigger estate tax consequences, forcing the disposal of these family treasures or other assets to cover the tax bill. While estate taxes aren’t a current liability for someone still alive they have a nasty habit of becoming very real at a time when those who pass on can do the least about them, unless proper steps have already been taken.
I am healthy and take good care of myself; do I really need to worry so much?
Those who are healthy and have a family history of longevity face what is commonly known as longevity risk.
It’s counter-intuitive to think that living too long is a risk, but for most of us the reality is that it is entirely possible to outlive our savings. With life expectancies rising and medicine advancing by leaps and bounds this is a particularly pressing concern, even for those with less than healthy habits or genetic history.
Fortunately there are proven methods for insuring against outliving your money. Annuities are known as a common way to provide income for life, but these are provided by a variety of companies and have menus of benefits that aren’t necessarily intuitive or easy to navigate. For this reason the purchase of something as important as an annuity is best managed through a comprehensive insurance plan that provides robust solutions that take into account all both the obvious and less apparent risks in life.
As we age, the odds of incurring an injury or major illness that will prevent us from performing simple daily functions increase substantially. Today, one in three people over the age of 65 will require assisted care of some sort. Past age 75 the odds increase to where one in two will need nursing care. With the average cost of nursing care now surpassing $7000 a month, it’s no wonder that long term care often decimates the savings and assets of the seniors who need it.Read More
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