There have been rumblings in the news about inflation, and whether the jump in gas prices (combined with an economy on the rebound) warrants the Feds raising interest rates. Despite these factors, the Fed does not anticipate raising federal interest rates.
So is there reason to be concerned? Let’s unpack inflation.
Here’s an easy riddle:
Down some more.
Down in a hurry.
Down, then up in the same day.
Who am I?
- A) A Bipolar mood disorder
“You’re thinking of this place all wrong… as if I had the money back in a safe. The money’s not here. Your money’s in Joe’s house…right next to yours. And in the Kennedy house, and Mrs. Macklin’s house, and a hundred others. Why, you’re lending them the money to build, and then, they’re going to pay it back to you as best they can.”
—George Bailey, It’s a Wonderful Life
These famous lines from Frank Capra’s holiday classic, It’s a Wonderful Life, have been used to explain how banking works, though the details don’t exactly reflect current realities. Today, we WISH that our banks were as conservative as George Bailey’s fictional Building and Loan. If John could only borrow what Sally had originally deposited, there would be less risk!
Do you intend to leave a legacy? Utilizing life insurance and selecting beneficiaries for your policies and/or other accounts make leaving legacy gifts simple, keeping them out of probate or the state courts. That is… unless you make a critical mistake. We wrote this beneficiary checklist to help you avoid it!
You’ve put a legacy in place that assures loved ones and/or your favorite charities will receive monetary gifts according to your wishes. There are a handful of mistakes we see people make when it comes to naming beneficiaries or keeping them up-to-date.
Q: CAN YOU BUY LIFE INSURANCE ON THE INTERNET WITHOUT THE ASSISTANCE OF A FINANCIAL PROFESSIONAL?
A: MAYBE, BUT IS THIS A GOOD THING?
Table Of Contents:
Along with advertising for automobiles and beer, there are several commercials in heavy rotation on cable TV channels for insurance. One ad features an animated “virtual world” where consumers can meet all their insurance needs with a click of a button on their computer. Another ad shows a make-believe insurance “grocery store” with consumers choosing their products off the shelf and paying at a check-out counter where they are met by a perky cashier.
Wrapping up 2020, the IRS introduced a significant change to the tax code that governs life insurance. This code hasn’t been changed in decades, so there are bound to be adjustments going forward. While there are plenty of opinions on how this will change the industry going forward, we want to look at the facts.
The fact is, whole life insurance has over a century-long history of paying dividends in addition to the guaranteed cash value. That’s the reason insurance is a great savings vehicle—it’s certain, reliable, and better for growth than saving with the bank.
The guarantees of the life insurance company are what make policies run smoothly, and we think that the changes happening will allow guarantees to continue to be made and met. In other words, policies will continue to thrive in even the most difficult economic climates.