Two New Sections Coming Soon to the Insurance Pro Blog

Insurance Pro BlogThe Insurance Pro Blog is excited to announce that over the course of the next week or two we'll be rolling out two new sections (post categories) that will be main topics we'll be tackling through the Summer.  These two new topics are:

  1. Retirement Income Planning
  2. Estate Planning

To give you a preview of what we hope to accomplish by making these two topics such a priority over the next several months, I'd like to share the following thoughts.

Retirement Income Planning

According to the American College of Financial Services 7,000 Americans will reach retirement age every day for the next 17 years.  That's a scary big number a little north of 4.3 million when all is said and done.

Currently, training that specifically focuses on equipping financial and insurance professionals with knowledge on managing a client's retirement assets for the purpose of income generation is pretty much nil.

The two premier financial planning-esque designations within the industry, the ChFC and the CFP, spend little time on this topic.  The ChFC has one class that is an elective, and the CFP doesn't specifically test this subject at all.

To be blunt–the industry sucks at this topic.

In fact, in a scramble, the American College has pieced together a new designation called the Retirement Income Certified Professional (RICP) to try and better equip members of the industry with knowledge to assist soon to be retirees or current retirees with their retirement income planning needs.

Estate Planning

This has been a topic on the to-do list for quite some time.   Estate planning isn't just about figuring out how moderately wealthy (and above) people will pay their assumed Estate Taxes when they die.  It's a large topic that reaches into the lives of everyone rich or poor.

We hope to turn the traditional stuffy nature of estate planning on its head and open the eyes of a lot of people who don't realize they too have an estate planning need despite owning assets that sum to less than the current Federal Estate Tax Exemption.

This doesn't mean we'll ignore the more advanced planning side of this topic (far from it).  We'll be certain to layout the particulars for all sort of more sophisticated topics within this arena.

We'll also attack a common no-no insurance agents make about selling life insurance to anyone with enough assets to possibly has a Federal Estate Tax liability.

Keep checking back and plan to see posts related to this topic rolling out within the next week or so.  Also, if you have ideas on topics you'd like us to address, be it related to this or other ideas, don't hesitate to let us know.

We work hard to make the Insurance Pro Blog the web's premier resource for personal finance and insurance.

 


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