Long-tail Risk. This area of the financial plan can mean a lot of things to a lot of different people. It may vary upon which stage of life you find yourself in or by what is important to you.
Key areas of focus here lie with:
· Cash Accumulation Vehicles
· Death Benefit
· Legacy Planning
· Estate Tax Consideration
· Living Benefits
· Long Term Care
Now… the list goes on. The tools vary by design and implementation, but the constant among them is that they leave many investors puzzled.
As an example, on the subject of Long Term Care, here is an area that if left unaddressed could prove to be more costly than a major market meltdown. A care need could be financially ruinous to your wealth. There have been many advances in the Long Term Care space that a better understand may help shore up this one critical area.
In designing FIT, the goal was to create a platform for you, the investor, to arm yourself with the proper facts to make informed decisions on what tools belongs in your financial plan and which don’t. And to be able to base those decisions on knowledge, not hearsay.
I have found that once a person understands the risk pockets, how the tools of each work both individually and in concert with one another they give themselves the best chance of their financial plan having success.