Cash Flow Solutions
If you have a home, considering put a Manulife One solution to activate real estate for retirement. It is best put in place while you are still working.
Don’t Take Your Health for Granted
At this stage, you should have in place:
- Critical illness insurance for yourself, your spouse, and if you have young children, your children.
- Long Term Care Insurance
- Life Insurance to Protect Your Family
Saving for Retirement
Adjust your retirement savings plan accordingly. Avoid having too much tax at retirement, during retirement if your spouse dies, and having half your family’s wealth disappear to taxes if you die before or a few years after your life expectancy.
If you haven’t put in place an insurance based retirement solution yet, it isn’t too late if you are insurable. However, you may not be able to draw tax-free cash flow form the insurance portion of your assets for about 15 years.
© 2016 Doug Ransom - Insurance Advisor