Have you heard about Life Insurance which you don't have to die to use? It allows you to use the Death Benefit, while still living, to pay for a Critical Illness or as an income stream later in life.
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Now is the time to review what you have in place for retirement and Long Term Care. This will help you start the process of finding options that are best for your situation.
Make sure you are DIVERSIFIED. Having money in more than one vehicle is a good way to beat the economy and inflation. Options include (but are not limited to):
* Savings (best to have an emergency fund for when something unexpected & unbudgeted arises)
* Life Insurance (protects your assets and provides for remaining family members
* Life Insurance with Living Benefits (Use Death Benefit as an income stream during retirement or to pay for a critical illness, or care)
* Long Term Care (provides income for critical illnesses and long term stays in a facility as 91% of older people have 1 chronic illness and 73% have 2)
* Purchase some Gold or Silver (Gold and Silver have shown to rise in cost during times of economic stress...best to have your money in more than one vehicle due to ups and downs of the economy )
* 401k or IRA (if you are offered a 401k at work and they match fund it is a good idea to use that plan up to the matching funds, and more if you can afford to fund it)
* Annuity (an Annuity can be set up to provide monthly funds for life, until you perish. You can make an up front lump sum payment or do a 5 or 10 year pay. Once completed funds will flow out to you monthly on the set timing until you perish)
Keeping diversified is a good way to try and beat the economy and outlive inflation.