The GOLD Company does not sell any products
and is compensated ONLY from the company's clients. No
commissions are taken on any products.
I sincerely enjoy meeting people and
getting to know them. The Gold Company strives to return calls promptly and takes a genuine interest in your needs. I work hard to personalize a
plan that best fits your needs, budget and future.
The Money Prof
Wednesday, April 1 2015
Taking care of catastrophic financial eventsWebster's dictionary defines catastrophic as "bringing about ruin or misfortune." Murphy's Law states that "If anything can go wrong, it will." So, how do we as prudent leaders of our family go about reducing risk and prevent catastrophic financial events? A basic approach is to steer clear of risky situations. For example, think twice before driving during dangerous weather conditions; do not walk down dark and empty streets (there is safety in numbers); or be careful of climbing high mountains without any experience. This all makes sense, but there are risky events that one cannot expect or control. This is where transferring the risk to an insurance company can be the best alternative. Carrying insurance can be vitally important when it comes to events that can be frequent, but more importantly severe (catastrophic). We all are not happy about paying premiums and one should be careful about purchasing the right type of insurance, the right amount of insurance and dealing with the right insurance company. Let's take life insurance. Low cost life insurance can protect a family's income and assets. Health insurance is another vital risk management product. Family property such as homes, autos, etc. can be protected with an adequate homeowner's policy. Liability coverage is covered with the homeowner's policy which can be the most important part of the policy, given the legal system today. Also consider an umbrella liability policy which is relatively inexpensive and has high limits. Some families should consider a personal disability income policy which covers injuries incurred off the job. Looking further out, long term care insurance can come in very handy if assisted care or nursing home care is warranted. Buying insurance is all based on probability of occurring events. Risk takers might not be receptive to insurance, but for most of us, taking a chance of incurring large losses, even with low probabilities, is worth the premium cost.
The GOLD COMPANY will help you achieve financial well being.
Offering the following services:
- Investment Portfolio Assessment
- Portfolio Development
- Securities Portfolio Management
- Retirement Planning
- Insurance/Risk Management Review
- College Planning
- Real Estate
- Estate Planning
- Business Analysis