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Health.Wealth.Life

50 Years Yields Phenomenal Price Reductions in Term Insurance

 February 25 2014     Terry Horan
I was doing research recently and I needed to check the history of the price of term life insurance.  Term life insurance is temporary life insurance coverage that is designed for a set term.  It is amazing to look at the reduction of term life insurance premiums through the years. This form of insurance is very affordable when you are young but becomes increasingly cost prohibitive in later ye...

Fire Sales and the Importance of Life Insurance

 February 13 2014     Terry Horan
In the insurance business, we always worry about a family having to sell assets to raise cash.  These "fire sales" as they are sometimes called never create good results for the families. In the last few days, a golf resort in Ireland had to be sold under duress.  Doonbeg is a five star resort on the Atlantic Coast of Ireland and is spectacular in many ways.  Alas, shrinking property values and...

A Thought for September 11th

 September 11 2013     Terry Horan
Today marks the 12th anniversary of 9/11.  There are some very inspiring stories associated with this day and how American Spirit is special and important to nurture. Today, lower Manhattan is graced with the new Freedom Tower, standing 1776 feet tall.  It is a beautiful building and a testimony to American’s ability to get up and get back in the race.  No matter what hits we endure, our Americ...

Patience May Well Win the Retirement Race.

 August 23 2013     Terry Horan
My last blog referenced an article from the New York Times. This week –I’m focusing on one from the Wall Street Journal. “Misjudged Annuity Guarantees May Cost Life Insurers Billions,” examines a problem created not too many years ago by insurance companies looking for the next big idea. Specifically: In the early to mid-2000s, insurers competed to sell ever more generous guarantees to older cus...

The Social Security Debate Continues: Emphasizing the Need for Financial Planning

 July 16 2013     Terry Horan
Summer and retirement planning may not sound like a natural pairing, but a recent New York Times article has reminded me – like a sand gnat on the beach – that no season can be exempt from an awareness of certain hard truths.   The article – actually a Times editorial – argued against broad-based cuts in Social Security benefits, on the grounds that the system is equipped to pay full benefits u...

The Fiscal Cliff Legislation: A Summary

 January 8 2013     Terry Horan
The House voted late Tuesday and President Obama signed Wednesday, the American Taxpayer Relief Act of 2012. In an effort to keep you as up-to-date as possible, below is a synopsis of some of the key pieces of the new legislation that may be most relevant to you, our valued client. Tax Brackets: The bill permanently retains the 10 percent, 15 percent, 25 percent and 28 percent income tax bra...

The Election of 2012

 November 7 2012     Terry Horan
All of us woke up this morning to one of the enduring miracles of modern civilization; the orderly vote and acceptance of our national leadership in the most powerful country in the world.  The papers were delivered to your driveway.  The bakeries opened early to make doughnuts.  People went to work on time.  It is simply what we do as Americans. In our heart of hearts each one of us is hoping t...

Going, Going, GONE! Tax Breaks Set to Expire

 September 28 2012     Terry Horan
What are you doing about the changes coming in the tax laws?  The changes coming in 2013 are less than 16 weeks away.      Because our elected officials are having trouble coming to a consensus,  the chances for a 1- year extension of the current tax code or any type of major reform by year- end is slim. I recently attended a local Chamber luncheon where a well-known Senator addressed the audie...

Retirement in the Private Sector - The Problem and the Solutions

 September 11 2012     Terry Horan
Recently, the Center for Retirement Research of Boston College published a paper entitled, "The Pension Coverage Problem in the Private Sector". The theme of the article was that only 42% of private sector workers are covered by any type of employer-provided retirement plan. This leads to the conclusion that a substantial percentage of workers retire entirely dependent on Social Security. For low ...

New Tax Law Change for 2013 Affects Estate Planning Landscape

 August 10 2012     Terry Horan
As the saying goes, the only things certain in life are death and taxes. Unfortunately, for those with sizable income and/or sizable estates, those two things often go hand in hand. And, unless Congress acts before year end, a big, game-changing tax increase is on the horizon for those who earn over $200k (filing individual) and heirs of individuals with sizable estates.  To be specific… Ordin...
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