HCS Week 52

Page 1

Established in 1929

Health City Sun

50¢

The

www.healthcitysun.com

December 25, 2020

New Mexico’s Legal & Financial Weekly

Vol. 10.100 No. 52

FORECLOSURE SALES: 1 PROBATE: 30 AUCTIONS: 12 NOTICE OF SUITS: 9 OTHER: 29 SPANISH NOTICES: 0

Don’t Underestimate the Power of a Good Financial Planner

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n the wake of the ongoing Covid-19 pandemic, many people are looking to cut costs and better manage expenses. Some may view financial planners as an unnecessary expense, but in reality, a smart relationship with an experienced financial planner will save you money in the short- and long-term, and will help you weather the challenges of a changing economy.

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CFP Board, a nonprofit organization dedicated to supporting professional standards in personal financial planning, emphasizes how the guidance a financial planner can provide goes beyond the surface of stocks and investment advice. Instead it emphasizes the benefits of a long-term plan to help people meet their financial goals. Only individuals who have fulfilled CFP Board’s rigorous requirements can call themselves a CFP® certificant, so be sure your planner is a certified CFP® professional. It’s important to note that not all financial advisors have made a commitment to act in their clients’ best interests. As part of their certification, CERTIFIED FINANCIAL PLANNERTM professionals commit to CFP Board to act as a fiduciary -- at all times -- when providing financial advice to a client. “As you begin to consider how best to manage your financial future, you should feel confident knowing that with a CFP® professional, you’re working with someone committed to providing the high standard of financial planning,” according to the LetsMakeAPlan.org website.

the latest legislation on personal finance, such as the SECURE Act, which brought changes to retirement investments, and the post-COVID CARES Act, which brought new financial planning opportunities for individuals and small businesses. Optimizing technology. CFP® professionals are up on the latest t o o l s for managing your money. Technology allows for quicker and easier discussions of personal finance issues including not only stock trades, but also rebalancing portfolios, tax-loss harvesting, making income tax projections, and planning for long-term financial goals such as education or retirement.

Some of the key benefits of an ongoing relationship with a financial planner include:

Seeing the big picture. A financial planner can help you take a step back and examine how your financial data fit into a plan that incorporates cash flow, Making a plan. Especially during times of uncertainty, making goals and expenses, taxes, and estate planning. A qualified planner knows how to keep this big picture in focus, but also how to adapt it as life circumstances change. establishing financial plans can contribute to your peace of mind. Understanding the laws. Financial planners can explain the implications of Visit letsmakeaplan.org for more financial planning tips and guidance and to locate a certified financial planner in your area. -(NewsUSA)

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Why Long-Term Care Should Be A Retiree’s Top Concern

or many Boomers, retirement may involve taking vacations, taking up a new has taken a hit amid the COVID-19 pandemic. Protect yourself from further hobby, and spending more time with family, friends and the grandchildren. unforeseen impact by taking advantage of tools and resources that can help you better prepare for the high costs of long-term care. In anticipation of these activities, Boomers work diligently to build up their next egg. But as Boomers age, and as healthcare costs rise, one item they must account 3.Talk to your children and family members. Although it can be difficult, it’s important to have conversations about how you want to be cared for as you age. for is care in retirement. Unfortunately, too many are failing to prepare. You may want to stay in your home and receive care in-place, or you may expect According to the Center for Secure Retirement and Bankers Life, 79% of middle- loved ones to provide this care. It’s helpful to include a financial planner in these income Boomers have no money set aside specifically for their retirement care conversations to provide an unbiased answer to your family’s questions. Sharing preferences and developing a plan can help make the transition easier and give needs. you and your loved ones peace of mind. With this in mind, they should take the following steps to help protect their nest It’s never too late—or too early—to seek help and to better understand your eggs: financial plan and current healthcare coverage to try to prepare for unforeseen 1.Keep moving. Good physical health can lead to a more active life, improved situations in the future. mental and emotional health, and reduced medical expenses. By keeping yourself healthy and fit, you may be able to lower your premiums and potential future Learn MoreFor further facts and tips on planning for retirement, visit www. costs. Set time aside each day to stay active—your health and your bank account bankerslife.com. will thank you. • Bankers Life is the marketing brand of Bankers Life and Casualty Company, 2.Save, save, save. It’s never too early to start financially planning for retirement Medicare Supplement insurance policies sold by Colonial Penn Life Insurance care. Recent data from the Center for a Secure Retirement and Bankers Life Company and select policies sold in New York by Bankers Conseco Life Insurance shows that more than half (54%) of working adults say their retirement planning Company (BCLIC). BCLIC is authorized to sell insurance in New York. (NAPSI)


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