Born and raised in Florida, I have lived through many hurricanes over the years. I think dealing with a hurricane is similar in many respects to dealing with unplanned issues in life. Of course, those of us that live along the coastal areas are aware of hurricane season and try to prepare in advance as much as possible, but you can never be truly ready for a hurricane or its aftermath in my opinion.
We know that weather events can be disruptive and dangerous. Whether it’s a blizzard, forest fire, mudslide, earthquake, tornado, flood or hurricane, each is frightening and stressful and must be taken seriously. Yet, we often believe that these events will never affect us until they do. Then, the time to have planned for them has passed, and often panic sets in. Many people tell us to prepare so we are protected; yet frequently so many ignore their warnings until the wolf is knocking at the door.
Now think of this in terms of life planning. People die prematurely every day without having their affairs in order and having adequate life insurance so that their spouse and children can carry on in a financially secure manner. People also recognize the likelihood of needing long-term care services at some point in the future; yet few acknowledge the reality of this need being one of their own and acquire long-term care insurance for themselves.
Most people acknowledge that inflation erodes savings over time but rarely take this into account in saving for their future retirement. It is just easier to ignore these things and hope they never happen. There are now products available that will provide four life/financial planning solutions: life insurance, long-term care (which includes in-home care and assisted living), asset protection and wealth accumulation.
My advice as a hurricane survivor (many, many times over throughout my life as a native Floridian) is to prepare for the storms in life and expect them to happen. If they do, you will be ready for the challenge and will likely come through alright. If one of life’s storms never comes your way, you’ll just be that much better off financially and otherwise. Either way you win when you take the time to plan and prepare. Remember that planning for the worst is the best way to avoid the worst happening to you.
There are many things in life that one just cannot plan for. It doesn’t make sense to me to not plan for those events that we CAN plan for. Our thoughts and prayers remain with all affected by Hurricane Harvey, Hurricane Irma and Hurricane Maria, as well as all those who are suffering from the aftermath of the recent earthquakes in Mexico.
Frederic “Ric” Schilling is a Florida native, born in Jacksonville, Fl. Ric is President of Senior Guardians of America, a local North Florida firm specializing in tax reduction, long term illness planning, asset protection, probate avoidance and life income planning. Ric is a National Speaker and Advocate on Senior Issues and has been featured by the Florida Times Union and WJXT, TV-4 in Jacksonville as an authority on Estate Planning and Retirement Issues. Senior Guardians has an A+ rating with the Better Business Bureau and is a member in excellent standing with the National Ethics Association. Contact Frederic: 904-371-3302 or 888-891-3381. Please visit: www.seniorguardian.com
This article is not intended to give tax or legal advice. Securities offered through Center Street Securities, Inc. (CSS), a registered Broker-Dealer & member FINRA & SIPC. Investment Advisory Services offered through Center StreetAdvisors, Inc. (CSA), a SEC Registered Investment Advisor. Schilling and Associates (d/b/a Senior Guardians of America) and CSA are independent of CSS.