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Can You Prepare For the Unexpected?
For example, during your working years, be prepared for the following:
Long-term disability — One-third of all people between the ages of 30 and 64 will become disabled at some point, according to the Health Insurance Association of America. Your employer may offer some disability insurance, but you might need to supplement it with private coverage.
Investment risk and market volatility — To help defend yourself against wild gyrations in the market, build a diversified portfolio containing quality investments. While diversification, by itself, can’t protect against loss or guarantee profits, it can help reduce the effect of volatility on your holdings.
As you approach retirement, and during your retirement years, you may want to focus on these challenges:
Living longer than expected — A longer-than-
Need for long-term care — If you had to stay a few years in a nursing home, the cost could easily mount to hundreds of thousands of dollars. To help protect yourself you may want to “transfer the risk” to an insurance company.
Yogi Berra may well have been right. But, in your role as an investor, you can at least take positive steps to help prepare for the unexpected. — and those steps should lead you in the right direction.
For more information or any questions on preparing for the unexpected of your financial future contact Mark Grooters at (616) 281-9026 or https://www.edwardjones.com/
Edward Jones: Mark Grooters - Financial Advisor