Greetings!
Long-term care is one of the nagging financial issues we face as we age. Questions are sparked when we encounter an illness, have a near-miss accident, or care for a parent or loved one as their health declines.
What are the odds that we will need care ourselves? It depends.
After reaching age 65, the American Association for Long term Care Insurance reports that 45% of men and 72% of women will require long-term care.
By comparison, the odds of getting into a severe car accident after age 65 are 15% for men and 18% of women. While few of us would consider driving without insurance, many of us go without long-term care insurance. It is hard to imagine needing hands-on care with bathing, getting dressed and other essential activities of daily living, and it is easy to avoid thinking about it altogether.
The real question - and the bigger risk - is how long we may need long-term care. According to the same study, 20% of folks over the age of 65 will require more than 5 years of long-term care, enough to whittle away at even a large nest egg. We can help you frame the most important questions to ask as you plan for your future - like where you want to receive care, what it may cost, and what discounts you might be eligible to receive.
Contact your advisor for a free whitepaper that we recommend called The Most Asked Questions about Long-term Care Planning. (1,2)
This week's article is submitted by Stacey Frank. |
| Lunch and Learn |
Identity Theft is the fastest growing crime in America. Experts tell us that 50% of the population will become the victim of an Identity Theft in their lifetime.
The Colorado Bureau of Investigation (CBI) has specialists that are available to support victims in reporting the crime and beginning the process of restoring their good names.
Hazel Heckers of the Colorado Bureau of Investigation, works as an advocate, counselor and resource for crime victims and their families. Hazel is considered an expert in the areas of identity theft and fraud. She will give us actionable tips for avoiding identity theft.
Protect Yourself from Identity Theft
Date: Thursday September 27th, 11:30am - 12:30pm
Location: Our office, 9800 Mt. Pyramid Court, Suite 450
Englewood, CO 80112
Lunch will be provided.
or call 303-690-5070. Seating is limited.
Friends and colleagues are welcome to attend!
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| In the News |
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Watch Karl Frank's Interview
Monday, September 24th at 5:40 AM
Channel 9 KUSA |
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| Weekly Economic Update | |
FEDERAL RESERVE OPTS FOR OPEN-ENDED EASING
On September 13, America's central bank announced its third round of quantitative easing since 2008. QE3 has no set timeframe: the Fed will buy $40 billion of agency mortgage-backed securities each month until it elects to halt its effort. Pair that with the ongoing Operation Twist and the Fed will purchase about $85 billion worth of longer-term securities monthly in the last third of 2012. In addition, the latest FOMC policy statement reaffirmed the pledge to keep interest rates at "exceptionally low levels" through mid-2015. Will the Fed also decide to buy Treasuries? Will mortgage rates drop to new all-time lows? Will this promote more spending and lending? While the answers to these questions won't be known for a while, the Dow went +206.51 Thursday in the wake of the news. (3,4)
PPI JUMPS DRAMATICALLY; CPI ALSO RISES
The Labor Department said that its Producer Price Index climbed 1.7% in August, mostly on soaring energy costs. Wholesale prices hadn't advanced so much in a month since June 2009. Core PPI rose just 0.2%. August also saw a 0.6% increase in the Consumer Price Index - the CPI's largest monthly rise since March. Retail gas prices represented 80% of that gain. Core CPI rose only 0.1%, as in July. (5,6)
RETAIL SALES & CONSUMER SENTIMENT IMPROVE
August turned out to be the best month for retail sales since February. Last month's 0.9% gain complements the 0.6% advance recorded by the federal government in July. The University of Michigan's preliminary September consumer sentiment survey rose to 79.2, much improved from the final August mark of 74.3. (6,7)
BOND BUYING INSPIRES STOCK BUYING
The S&P 500 gained 1.94% last week to settle Friday at 1,465.77 - its best close since December 31, 2007. The lift from QE3 also took the Dow (+2.15% to 13,593.37) and NASDAQ (+1.52% to 3,183.95) higher last week. NYMEX crude settled at $99.00 per barrel Friday; COMEX gold ended the week at $1,772.70 an ounce. (7,8,9)
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| Market Summary |
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% Change |
Y-T-D |
1Yr Chg |
5-Year Avg | |
DJIA |
+11.26 |
+20.87 |
+0.22 | |
NASDAQ |
+22.22 |
+23.77 |
+4.47 | |
S&P 500 |
+16.55 |
+23.31 |
-0.25 |
(Source: msn.money.com, bigcharts.com, treasury.gov, treasurydirect.gov - 9/14/12). Past performance is no guarantee of future results. Indices are unmanaged, and investors cannot invest in them directly. |
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Create a beautiful week!
Karl Frank, MBA, MSF
Certified Financial Planner (R)
A & I Financial Services LLC
303.690.5070
Citations:
1 -American Association for Long Term Care Insurance, 2011 LTCi
Sourcebook. Need for Long-term care based on being ADL Disabled or cognitively impaired.
2 - American Association for Long-Term Care Insurance, 2011 LTCi
Sourcebook.
3 - www.cnbc.com/id/49018964 [9/13/12]
4- www.cnbc.com/id/15839285 [9/13/12]
5 - www.nasdaq.com/article/us-ppi-jumps-17-jobless-claims
-up-20120913-01084 [9/14/12]
6 - www.cnbc.com/id/49032270 [9/14/12]
7 - money.msn.com/market-news/post.aspx?post=f94f59a8
-0745-4ac6-b69c-ce8b66e9516f [9/14/12]
8 - www.cnbc.com/id/49032125 [9/14/12]
9 - montoyaregistry.com/Financial-Market.aspx?financial-market=common
Securities offered through Geneos Wealth Management, Inc., member FINRA/SIPC. Investment advisory services offered through A & I Financial Services LLC, registered investment advisor.
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| Words for Thought |
"Every exit is an entry somewhere else."
Tom Stoppard |
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Riddle of the Week
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What lives above a star but never burns, has 11 neighbors, and can replace the letters P, Q, R or S in some cases?
Last week's riddle:
What 9-letter word remains an English word each time you remove a letter from it, until it becomes a 1-letter word? (Hint: You can remove letters from any part of the word.)
Last week's answer:
Startling (Starting, Staring, String, Sting, Sing, Sin, In, I). |
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Karl Frank was interviewed by 9News on March 28th, 2012 regarding "3 Things You Should Do if You Win the Mega Millions Lottery". | |
Click Here to View Video
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