Author - Jeffrey N. Bogue, CFP®

1
Income Seeking Investor? Fair Warning
2
Big Mistake: Failing To Update Beneficiaries
3
Open Enrollment For Medicare Part C & D
4
Long Term Care Insurance Market In Flux
5
Butchers, Brokers, Dieticians and Fiduciaries

Income Seeking Investor? Fair Warning

With interest rates historically low, many investors are seeking non-traditional means to generate income from their investment portfolios. Often people find comfort in investments that provide interest and dividends because it is based on the rule of thumb that one shouldn’t touch the principal. The financial media has latched on to the subject – it is not hard to find stories on a daily basis on the virtues of income investing.

And that makes me nervous. Investment styles that are currently in vogue tend to attract people that fail to consider the risks. From what I’ve seen, I have the …

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Big Mistake: Failing To Update Beneficiaries

I make a point of reminding my clients to review their beneficiary designations on their employer based retirement plans, life insurance, IRA’s and accounts with transfer on death assignments. The same could be said of beneficiaries outlined in their wills (you have a will, don’t you?). I was happy to see that the February 2013 issue of Consumer Reports listing this as the number one mistake in their article, 7 Money Stumbles to Avoid.

Why is this so important? It’s because huge unintended consequences could happen if you fail to review this on a periodic basis. For example:

• …

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Open Enrollment For Medicare Part C & D

For those eligible for Medicare, it’s time to shop around as the open enrollment period for Medicare Advantage (Part C) and Medicare Prescription Drug Coverage (Part D) started October 15 and runs through December 7, 2012.

Why shop around? Like any other insurance policy that renews annually, it’s important to see if your current options still best fit your needs. For example, what may have been the most efficiently priced policy last year could be significantly higher this year. Pricing for most Medicare Advantage Plans are expected to increase moderately this coming this year. However many Medicare Part D Plans …

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Long Term Care Insurance Market In Flux

Recently John Hancock raised premiums on many of its existing long term care insurance (LTCI) policies in force with increases ranging from approximately 20% to 90%. These were primarily focused on policies written over five years ago. This comes on the heels of Prudential and Berkshire both exiting the LTCI market over the past year. Insurance companies making less on their reserves in this low interest rate environment, fewer policy owners letting their policies lapse than expected and inadequate premium pricing in the past have all contributed to the flux in this marketplace.

All of this has made it even …

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Butchers, Brokers, Dieticians and Fiduciaries

In the world of healthcare, representatives of pharmaceutical and medical device firms do not administer advice directly to patients. This avoids the inherent conflicts of interest as representatives have a natural incentive to sell as much of their product and this could influence the advice in a manner that it is not in the best interest of the patient. Unfortunately I wish I could say the same for the financial care field.

The financial service industry doesn’t always require the same level of care – it can differ from firm to firm. Some financial service firms recommend products that they …

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