Preparing for Hazards to your Financial Plan.

Everybody should have a financial plan.

At Prato Capital Management, our focus is on guiding our clients to reach their financial goals with a Financial Life Plan. While the investments provide the growth for a financial plan, other aspects of your financial life need to be included. Areas like insurance to protect you and your family financially. Tax preparation and advice to make efficient investment and financial decisions. Legal advice for proper estate planning to include a will or a trust. This is a Financial Life Plan.

One area of financial planning that deserves more attention is how to protect future earnings and savings with two types of insurance: disability insurance and long-term care insurance.

According to the Social Security Administration, 1 of every 4 working Americans in their 20’s today will become disabled before reaching retirement age. Disability insurance can provide funds to replace your earnings if you are unable work due to injury or illness.

According to the US Department of Health and Human Services, for the typical American living past age 65, 52% will need some kind of long-term care services and support. Long term care insurance can pay for these services to include living in a long-term care facility if needed or having assistance in your own home.

At Prato Capital, we work with several insurance experts to find the right policy for our clients. Our focus is always on the best interest of our clients and we advocate for them through the entire process. If our clients have individual or group policies already, we have them reviewed to ensure they are adequate for their needs.

A Financial Life Plan is not just about your finances but is about your whole life. It is about making financial recommendations to match your values and priorities, and the challenges and opportunities throughout every part of your life. Do you have a plan?