Many decisions in life are made for us. But the ones we can make, regarding our future and how we prepare for it, are very important. Careful consideration and thought is paramount to setting yourself up for success and big life events. Whether that is financially planning for a new baby or marriage, buying a new house or preparing to transition your business for retirement, there are Lincoln businesses that can help you invest and organize your future in the right way.
Kim Hazelton, at Alpha Zed Business Services (alphazedservices.com), has currently been focusing her services on Estate Information Organization. This service is specifically designed to be a resource for unplanned life events such as incapacity or death. For example, when you unexpectedly end up in the hospital or rehab facility for an extended period of time and aren’t able to take care of things.
“The way it works is this: we look at your unique situation: single/married/divorced/widowed, blended family, veteran, dependent children or special needs adults?” Kim said.
Kim starts the audit. Looking at areas like legal & identification, financial, medical, retirement income, bills & cashflow, digital accounts, property & assets, they determines what documents you have in place, where things are located, what you might not have thought about and identify gaps.
The next step is the portfolio build, which includes copies of key documents, important contact information, how to access digital accounts and what bills are priorities. The final outcome is a physical binder and/or digital archive that tells your trusted person which path to follow based on incapacity or death and lays out the important things they need to know to be able to keep your estate running smoothly.
Additionally, if there is a business involved, Kim would follow a similar process to ensure that documents and information are in place so that someone can keep things running at an acceptable level, depending upon your circumstances and wishes. This is referred to as the Business Continuity Framework at Alpha Zed Business Services. This stand-alone offer is a 90-minute call that identifies key points that need to be addressed if a small business owner is suddenly unable to be present in the day-to-day operation. Kim looks at key contacts, communication plans, options for maintaining/transferring client support, how to manage accounts payable and receivable, etc. The end result is a framework to build your continuity plan around.
While this is intended to be a resource allowing someone to handle things when you can’t, it’s also a great way to get information pulled together that might be needed when applying for Medicaid or to move into an assisted living facility.
“There are so many stories I hear about people who struggle when these important documents aren’t in order,” Kim shares. “When a family member decided to sell his business and retire, it was discovered that when his wife and business partner died, her estate was never settled and her will was unsigned. An attorney had to get involved, resulting in the unexpected expenditure of time and money before the business could be sold. Someone’s power being shut off because the wife who typically paid the bills was in the hospital and no one was checking her email where the bills were received. A man unable to stop a feeding tube from being placed because the healthcare power of attorney form he held for his brother had never been signed. This is just the tip of the iceberg.”
So whether you’re planning for expected changes or preparing for unexpected events, the services at Alpha Zed Business Services can help you and your family members prepare for the future, the known and unknown.
Willeke Financial Group (willekefinancialgroup.com) specializes in working with self employed and health professionals and helps guide owners through the ups and downs. From Tax Planning to buying and selling, succession planning for retirement and customized financial strategies based on personal and professional goals, Willeke Financial represents a trusted financial partner for every stage of life, business and going through planned changes.
“Think of financial planning in terms of taking a car trip,” Craig explains. “When you start the journey, you point your wheels toward the destination. But whenever something changes, like a turn in the road, wind or other obstacles, you need to course correct. A financial plan isn’t a set-it-and-forget-it process; it takes frequent adjustments.”
One financial decision people tend to overlook is the age at which they retire. Most people want to retire at a reasonable age and finally do all the things their job may have gotten in the way of: travel, spend more time with family and potential grandkids, and reconnect with their partner and themselves. However, if you retire before age 65, you won’t be eligible for Medicare and might need to find other health insurance coverage, which can be quite expensive. Whether you can obtain insurance after retirement is a major factor to consider. Can you get coverage through your spouse? Can you afford it without an employer providing it?
Proactive planning for finances, estates and retirement is essential when approaching major life milestones. By taking steps early, you can move through these decisions with greater confidence and less stress for everyone involved.
“Any major decision should be thought through carefully and acted upon carefully. Don’t let emotion overrule your good judgment,” Craig advises.
Talking to a trusted financial professional can make or break your financial future.
“Talk it through with multiple people that you trust and seek professional guidance when needed,” Craig says.
FNIC (FNICgroup.com) Trusted insurance advisors has been serving families for more than 100 years. The company is committed to meeting the needs of families and businesses through reliable service and trusted guidance. Reliability and integrity are the foundation of every interaction and every individual they serve. Their coverage options include commercial insurance, employee benefits, farm and crop insurance, bonds and personal insurance, including home and auto coverage.
Joey Mumaugh, Sales Executive at FNIC, shares his insights on preparing for life changes and how a trusted insurance agency can serve as a valued partner through those transitions.
“Insurance gives individuals and families confidence during life changes by protecting what matters most and reducing financial uncertainty,” Mumaugh says. “Whether it’s buying a home, getting married or preparing for retirement, insurance coverage helps keep unexpected events from derailing long-term goals. It allows people to move forward with major decisions knowing they have a safety net in place.”
One of the biggest coverage gaps FNIC sees during major life changes is people failing to update their insurance to match what they’ve worked hard to build. As families grow and assets increase, coverage often remains the same. This can result in inadequate liability protection, outdated home values or a lack of life insurance coverage.
Another common gap, according to Mumaugh, is not having an umbrella policy. As people take on more responsibility—owning a home, raising children or entering retirement—their exposure increases, but their protection doesn’t always keep pace.
For example, a newly married couple may purchase a home, combine finances and begin building assets together. As their financial picture changes, their liability exposure often grows as well. An umbrella policy can provide an additional layer of protection if a major claim exceeds the limits of their home or auto insurance.
“As life evolves, it’s important to review your coverage at major milestones to make sure it reflects your current needs, priorities and goals,” says Mumaugh.
As you navigate major life changes, don’t assume your current coverage still fits your situation. Review your policies, consider increasing liability protection as your assets grow and explore whether life and umbrella coverage align with your family’s financial goals and circumstances.
Taking a few minutes to update your insurance today can help prevent major setbacks tomorrow.
At Lincoln Coin & Bullion (lincolncoinandbullion.com), their dedicated and knowledgeable staff can help you buy and sell bullion, coin collections and precious metals. Using advanced tools such as a Sigma Tester, Ultrasonic Testers and an XRF Analyzer, they provide quality, accuracy and honesty with every transaction.
Bullion and coins can be a valuable addition to an investment portfolio. Built on a foundation of price transparency, the professionals at Lincoln Coin & Bullion help ensure customers understand the value of every purchase. One reason many investors choose precious metals is because they carry zero counterparty risk.
Zero counterparty risk means the value of your investment is not dependent on another party’s ability to fulfill an obligation.
Unlike stocks or bonds, precious metals are tangible assets that you own directly. They do not rely on a bank, company or government to maintain their intrinsic value and cannot default, declare bankruptcy or disappear because of a technological failure.
Financial privacy is another benefit of investing in precious metals. Physical gold and silver can be held directly by the owner, which offers a level of privacy and security that many investors appreciate. Unlike some financial assets, they are not tied to a financial institution and can be stored privately.
Inflation gradually erodes the purchasing power of the dollar. Gold, silver and other precious metals are finite resources that are costly to mine, helping support their long-term value. Their scarcity is determined by nature, not by policy decisions or currency creation. Throughout history, gold has been passed down through generations and has continued to hold value over time.
Whether you are preparing for retirement, growing your family or planning for another major life milestone, precious metals and coins can play a role in protecting your wealth and stability. Passing physical assets such as gold and silver to future generations can help preserve purchasing power and provide a tangible form of generational wealth for years to come.
The world is changing rapidly and it can be quite unpredictable. Having a plan for whatever life changes happen, can save you from a whole load of stress, because you are protected. There are many ways to plan for retirement or any other major life change.
However, unfortunately we cannot predict the unpredictable future but we do know what we want our futures to look like. Making a plan now for the changes life throws at you, can help you preserve that future that you keep on envisioning. By being financially smart long-term and investing in the right areas can make major life changes and transitions flow smoother, letting you experience the change or relish in the victory all the same.