The New Rules Of Money
Money Is A Problem
For everyone in America
Debt
- Average household has credit card balances totaling $5,944.
- Average student loan debt is $58,133.
- Average total debt is $163,269 including mortgages.
Taxes
- In 2019, Americans will work until April 16 to pay its tax burden.
- Americans will spend more money on taxes in 2019 than food, clothing and housing combined.
Inflation
- $1 in 1972 is worth 15 cents today.
- The average inflation rate from 1972 to 2022 was 3.90%.
Savings
- The average American household has only $14,700 in savings.
- 45% of Americans believe they will outlive their savings.
Life Insurance
- If you died tomorrow, your family could be broke in a year.
- The average face amount of individual life insurance policies issued in 2018 was only $168,000
Long-Term Care
- We are living longer and more likely to get a chronic, critical or terminal illness before we die.
- In 2021, the annual median cost of a Home Health Aide was $61,776 and the annual median cost of a Nursing Home in a private room was $108,408.
Retirement
- According to the U.S. Census Bureau, 11.6% of all Americans retire in poverty.
- The median average retirement income for retirees 65 and older is $47,357
6 Steps To Financial Security
Success begins with Financial Education
2.) Debt Management
- If you have a mortgage, auto loans, credit card balances, student loans, or other financial obligations, we put you on a plan to be debt-free within the next 8-10 years, including your mortgage.
3.) Emergency Fund
- To properly plan and be prepared for emergencies, 3-6 months of net income should be in reserve and assessable in a bank. Unfortunately, the only savings that the majority of people have is in their 401(k) or IRA, which is subject to restrictions and penalties for early withdrawal.
4.) Proper Protection
- The majority of Americans do not have enough life insurance nor do they have the right type of life insurance for their family's needs. Furthermore, as the cost of healthcare rises and we are living longer, most people are not prepared for the costs that are associated with chronic, critical or terminal illness.
5.) Build Wealth
- Long-term savings must outpace inflation and minimize taxation in order to achieve financial success. We educate clients on the many options available,
6.) Preserve Wealth
- A successful financial plan includes a strategy to reduce or eliminate estate taxes upon the transferrance of wealth from one generation to another. We use the tools and strategies of the wealthy to help Middle America keep its hard-earned money in the family.
Hope BSG empowers people with financial education on topics such as:
The Rule of 72
A basic principle on how money doubles over time
The Power of Indexed Contracts
Imagine being able to participate in the successes of the market with a zero-loss guarantee
Accelerated Living Benefits
Life insurance that you don’t have to die to use
The Wealth Flow Formula
Your financial needs change over time
Accelerated Living Benefits
Protect your lifetime savings by using the leverage of Life Insurance with
Accelerated Living Benefits
Accelerated Living Benefits are essential:
We are more likely to get sick before we die
Heart attack, stroke, invasive cancer, renal failure, severe cognitive impairment, loss of 2 of 6 of our Activities of Daily Living (ADL)
Health Insurance will not cover all of your costs
Mortgage, lost wages, utilities, food, college, deductibles, co-insurance, uncovered medications & procedures
At 65 years of age, we go on Medicare
Medicare pays $0 for Long-Term Care services after the first 100 days 1
Life Insurance that you don’t have to die to use
Imagine being able to have access to your life insurance death benefit instead of using your lifetime savings for covered Chronic, Critical & Terminal illness
The Wealth Flow Formula
Your needs change in time, but you always need Accelerated Living Benefits
