Craig Colley, Author at Coliday | Insurance | Health | Financial - Page 2 of 6
Craig Colley
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How to Stay North When the Market Goes South

Today I spoke with several clients and friends and most of them lost money in the market...again. So how do you stay north when the market goes south? You’ve heard the expression your whole life, but what does it mean when it applies to your finances? Well to begin with, it’s not good.

Here’s the definition from Dictionary.com​:1

go south

verb phrase
to fall or slide down; to decline; to fall in value

Examples
His golf game is going south.

Usage Note
slang; goes south, going south, went south, gone south

The recent stock market downward corrections in 2018 have millions of active and passive investors nervous… again.


Many experts agree that the nine-year bull market is feeling the giant paws of the bear market clawing into their financial breadbasket.

I concur and believe this is only the beginning.  To take you back a bit (6 months), here are a few headlines to consider taken directly from Google on Saturday March 24, 2018.2
"What was once considered an anomaly now seems to be a trend".

My personal favorite is the last one stating Losses are part of the game when investing in the stock market”. Maybe it’s just me, but I've always thought keeping my money is always better than losing it.

Dow closes at 2018 low as trade worries rise - MarketWatch
https://www.marketwatch.com › Markets › U.S. & Canada › Market Snapshot

1 day ago - The benchmark index lost 6% over the week and is down 3.2% year to date. The Nasdaq Composite Index COMP, -2.43% declined 174.01 points, or 2.4%, to 6,992.67 and posted a 6.5% loss over the week. Weekly losses for all three benchmarks were the steepest since January 2016, when markets were ...

Dow drops more than 400 points into correction, posts worst week ...
https://www.cnbc.com/2018/.../us-stock-markets-set-for-a-sharp-fall-at-the-open-amid...

2 days ago - The major averages posted their biggest weekly loss since January 2016. The Dow and S&P 500 dropped 5.7 percent and 5.9 percent this week, respectively, while the Nasdaq pulled back 6.5 percent. "The market has been priced for perfection ... and that leaves the market vulnerable to surprises. In this ...

MARKET SNAPSHOT: Dow Closes At 2018 Low As Trade Worries Rise
news.morningstar.com/...markets/2018032310549/market-snapshot-dow-closes-at-20...

2 days ago - The major averages posted their biggest weekly loss since January 2016. The Dow and S&P 500 dropped 5.7 percent and 5.9 percent this week, respectively, while the Nasdaq pulled back 6.5 percent. "The market has been priced for perfection ... and that leaves the market vulnerable to surprises. In this ...

Dow Jones and S.&P. Slide Again, Dropping by More Than 4% - The ...

https://www.nytimes.com/2018/02/05/business/stocks-equities-dow-markets.html

Feb 5, 2018 - The rule book is now changing, a shift that is sending tremors through the financial markets. The Standard & Poor's 500-stock index fell by more than 4 percent on Monday, deepening its losses from the previous week and erasing its gains for the year. The Dow Jones industrial average sank by 4.6 percent.

Stocks close down, making February the worst month in two years for ...

www.latimes.com/business/la-fi-financial-markets-20180228-story.html

Feb 28, 2018 - Some of Wednesday's drop was due to a slide in the price of oil, which sent energy stocks to the market's sharpest losses. The S&P 500 ... He told Congress that he's more optimistic about the economy, which led some investors to anticipate four rate increases for 2018, up from three last year. Among the ...

This Year's Stock Market Losses Are Normal

awealthofcommonsense.com/2018/03/this-years-stock-market-losses-are-normal/

This Year's Stock Market Losses Are Normal. Posted March 20, 2018 by Ben Carlson. The recent market correction was unusual in how swift it occurred but the magnitude of the losses shouldn't be unexpected for investors. Losses are part of the game when investing in the stock market. This piece I wrote for Bloomberg in ...

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Here’s a picture I took on my iPhone, October 26, 2018. This graph clearly illustrates the current market conditions.

So how does one stay north when the market goes south?

One solution I can share.
The clients that I have helped with this dilemma have not been concerned from this down turn because they made decisions and acted to protect themselves from market losses. How? Because they re-allocated only what was needed to cover the income gap for projected essential expenses (after focused discussions and strategy sessions) into…

You guessed it, the annuity. That awful, beat up, misunderstood and bullied financial instrument that falls into the monetary hierarchy between savings accounts / Cd’s and the stock market.

Let me first say, annuities are not for everyone and I do not consider annuities to be an investment in a portfolio. After all it is an insurance product and should not be considered anything else. However, when they are positioned to provide stability, protection against loss of principle and reduction of risk in a financial plan, they are unmatched by any other financial instrument.  

Robert Ibbotson, a renowned financial expert agrees. Ibbotson is a 10-time recipient of Graham & Dodd Awards for financial research excellence and a professor emeritus at the Yale School of Management. Today, Ibbotson's latest research validates that uncapped FIAs (Fixed Indexed Annuities) help control equity market risk, mitigate longevity risk, and have the strong potential to outperform bonds in the very near future.

Suze Orman, an internationally acclaimed personal finance expert has been recommending indexed annuities to shield your retirement nest egg from market volatility for some time. In her NY Times best selling book, “The Road to Wealth,” Suze Orman tells readers that “if you don’t want to take risk but still want to play the stock market, a good index annuity might be right for you.”

True, the circumstances of an individual’s life, goals and retirement needs to be identified, discussed and put in order first before even considering an annuity. Before making a judgement call on whether an annuity should be included in your planning process, I always recommend a little education first. To learn more about annuity basics, read this article on my website: What is an Annuity?

This article is not intended to give you all the details, stats, pros and cons of annuities. Its purpose is simply to illustrate a way to help you keep the money you’ve earned and serve as an alternative to gambling away any portion of your nest egg benchmarked for your essential spending.  Depending on your needs, availability of assets and financial goals, annuities if utilized and set up correctly, can provide a guaranteed solution for predictable income that you can’t outlive.

Most people like receiving social security checks and funds received from pensions but rarely think about or acknowledge the fact that they are annuities.

A final note: As with any bull run, your investments are at an all-time high in gross value (minus the recent decline of market value) which translates into higher purchasing power. If in December 2017 you re-allocated of a portion of your IRA, 401k, 403b and or brokerage account into a tax-deferred annuity, it would have would have bought you more then it will today. 

How much longer will you wait to consider these benefits? When you lose another 4%, 6%, 10%? Something to ponder.

Now you know there is a way… to stay north when the market heads south.

As always, plan wisely my friends...

Finding a reputable and trusted partner to assist you with your financial & insurance needs is of vital importance.  I will work hard to find the best programs, coverage and rates that fits your budget and your needs. Contact me at 949-216-8459 or ccolley@coliday.com


Other articles about Annuities:
What Are Annuities?
Alternatives to Low Paying Bank CD’s

Information and materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice. The above information is not intended to provide, and should not be relied on for, tax, legal, accounting or investment advice.
Coliday / Craig Colley is not giving any financial advice, is not a financial advisor and is not affiliated, employed or endorsed by the SSA, Medicare.gov. or any other government agency.

1)  http://www.dictionary.com/browse/go-south 2)https://www.google.com/searchq=how+to+stay+north+when+the+market+goes+south&oq=how+to+stay+north+when+the+market+goes+south&aqs=chrome..69i57.47458j0j7&sourceid=chrome&ie=UTF-8 3)graph https://www.nytimes.com/2018/02/05/business/stocks-equities-dow-markets.html

Why can’t we just call the kettle black?

I am in a business that seems to have fallen into the same undesirable, necessary evil, distasteful category as the TSA, lawyers, dentists and the DMV... that is until you need them.

It must be true because so many people in my industry are coming up with names and descriptions to disguise and re-label it from what it actually is. For example, concepts and strategies for growth and preservation of wealth, huh? What is that supposed to mean? Or strategies to address life planning challenges, what?

In this case, I'm going to call the kettle black. As a licensed insurance agent I offer financial services and sell insurance. According to various industry reports and experts, you can't lead with it because it turns people off. Well, I never thought finance and insurance was attractive enough to turn someone on. Most people know they need it just as much as other services I've previously mentioned. Without it, you and others you care about will definitely know what life planning challenges are when a crisis, accident, critical illness or death occurs.

Most of us know someone who's gone through a loss or tragic experience and usually our first question is, did they have insurance? Second question; why didn't they have insurance? Third question; what were they thinking? Fourth question; if I was in that same situation do I have adequate coverage? And a final comment, if they had only spent a little money on an insurance policy, they could have saved themselves from a lot of additional pain, trouble and financial hardship.

So, go ahead and call the kettle black.

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When you're ready to say I need help with insurance and a financial plan for retirement please give me a call.

Craig Colley
(949) 216-8459
CA Lic. #0I48609

Travel Health Coverage

Travel Plans? Don't Forget to Check Your Medicare Health Coverage!

Summer is around the corner and vacations and getaways are being planned. You’re putting great thought into the itinerary, hotel accommodations and transportation, passports and have even found an awesome pet sitter for Sparky. 

But, are you also thinking about your health? Does your Medicare plan cover you when you are traveling in or out of the country? Do you have enough coverage?

If you have Original Medicare, your health care services and supplies are covered when you’re in the U.S. (which includes Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands).

But, when you are traveling outside the U.S. (including to Canada or Mexico) or overseas, it’s important to know that in most cases, Medicare won’t pay for health care services or supplies you get outside the U.S. (except in these rare cases).

Don’t worry if you think that means traveling without coverage. There are several ways you can get health coverage outside the U.S.:

  1. If you have a Medigap policy, check your policy to see if it includes coverage outside the U.S.
  2. If you get your health care from another Medicare health plan (rather than Original Medicare), check with your plan to see if they offer coverage outside the U.S.
  3. Purchase a travel insurance policy that includes health coverage.

Be sure to check your policy or plan before traveling. It’s very important that you understand what is covered outside the U.S. If you are cruising, have a special need for obtaining prescription drugs or require dialysis or other specific health care requirement,  watch this video.

Including your health care coverage into your travel plans could be the difference between an incredible  vacation experience or a health and financial disaster. Also, visit the Centers for Disease Control’s Traveler’s Health page for more information on how to stay healthy abroad. 

Finding a reputable and trusted partner to assist you with your financial & insurance needs is of vital importance.  I will work hard to find the best programs, coverage and rates that fit your budget and your needs. Contact me at 949-216-8459 or ccolley@coliday.com.



Source Information: https://blog.medicare.gov/2017/06/12/travel-abroad-2/  and materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice. The above information is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Coliday and Craig Colley are not affiliated, employed or endorsed by the SSA, Medicare.gov. or any other government agency

New Medicare MOON Rule

New Medicare MOON Rule for Retirement Planning in 2018

Many of my Medicare clients have had questions about the changes in inpatient and outpatient rules and how they financially affect hospital stays and skilled nursing facility visits and decisions.

If you need hospitalization, your hospital status—whether you're an inpatient or an outpatient—affects how much you pay for hospital services like X-rays, drugs, and lab tests. Your hospital status may also affect whether Medicare will cover care you get in a skilled nursing facility (SNF) following your hospital stay.

You're an inpatient starting when you're formally admitted to the hospital with a doctor's order. The day before you're discharged is your last inpatient day.

You're an outpatient if you're getting emergency department services, observation services, outpatient surgery, lab tests, or X-rays, or any other hospital services, and the doctor hasn't written an order to admit you to a hospital as an inpatient. In these cases, you're an outpatient even if you spend the night in the hospital.

The Medicare Outpatient Observation Notice (MOON) went into effect March 8th, 2017 and applies to those with an Original Medicare hospital stay. It DOES NOT apply to those with Medicare Advantage plans as they have their own rules and options regarding inpatient/outpatient services. The MOON will tell you why you’re an outpatient getting observation services, instead of an inpatient. It will also let you know how this may affect what you pay while in the hospital, and for care you get after leaving the hospital.

If you or a family member needs to stay in the hospital, the MOON (Medicare Outpatient Observation Notice) needs to be provided in written form, signed and dated with an oral explanation from the facility no later than 36 hours from the time the Medicare patient begins receiving outpatient observation services. This time limit is considered the new ‘two midnight stay observation’ policy.

(Note - Observation services are hospital outpatient services you get while your doctor decides whether to admit you as an inpatient or discharge you. You can get observation services in the emergency department or another area of the hospital).

I would recommend referencing the ‘Medicare & You’ handbook that all Medicare households receive in the fall or download a PDF here: Medicare and You. This guide explains in more detail the MOON rule as many Medicare enrollees may have missed this information.

Be sure to discuss any hospital procedure with your physician/surgeon regarding whether your stay will be an inpatient or outpatient stay. Remember you only become an inpatient once the hospital, not your doctor, formally admits you with a doctor’s order. You or a family member should also ask every day if your stay is an inpatient or outpatient procedure to avoid any discrepancies.

Finding a reputable and trusted partner to assist you with your financial & insurance needs is of vital importance.  I will work hard to find the best programs, coverage and rates that fits your budget and your needs. Contact me at 949-216-8459 or ccolley@coliday.com 


Information and materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice. The above information is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Coliday and Craig Colley are not affiliated, employed or endorsed by the SSA, Medicare.gov. or any other government agency.

Spring Ahead Prevention

Spring Ahead with Medicare Preventive Services in Retirement

Spring is in the air with the sights, smells and sounds of renewed life, warmer and longer days and a sense of anticipation for what’s to come.  And let’s not forget spring cleaning! With this renewed outlook, why not include your health and practice preventive care. Your well-being is important and preventive care can help you from becoming sick or by detecting problems early on when treatments can be most effective in maintaining a good physical, mental and healthy lifestyle.

If you have Medicare, take advantage of the variety of preventive tests and screenings, most at no cost to you. Are you new to Medicare? “Welcome to Medicare” offers a preventive visit during your first 12 months of Part B coverage. This visit includes a review of your medical and social history related to your health and education and counseling about preventive services, including certain screenings, shots, and referrals for other care, if needed.

If you’ve had Part B for longer than 12 months, you can get a yearly wellness visit to develop or update a personalized prevention plan based on your current health and risk factors. In addition to these important wellness visits, Medicare covers screening tests for diabetes, colon cancer, breast cancer, osteoporosis, heart disease, and obesity management, just to name a few. Check out the complete list of Medicare-covered preventive services and watch an important preventive benefits video.

So, don’t forget to include preventive care into your spring outlook and maintain your good health and well-being for a lifetime of new seasons.

Finding a reputable and trusted partner to assist you with your financial & insurance needs is of vital importance.  I will work hard to find the best programs, coverage and rates that fits your budget and your needs. Contact me at 949-216-8459 or ccolley@coliday.com


Source Information: https://blog.medicare.gov/2018/03/01/preventive-care/  and materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice. The above information is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Coliday and Craig Colley are not affiliated, employed or endorsed by the SSA, Medicare.gov. or any other government agency.

New Medicare Cards for 2018

New Medicare ID Cards Coming April 2018!

Beginning in April 2018, a new Medicare ID card will be mailed to more than 55 million people who are currently enrolled in the Medicare system and to the additional 10,000 Baby Boomers who are eligible daily for Medicare. Whew!

Why are the new Medicare cards important?

The Medicare Access and CHIP Reauthorization Act (MACRA) of 2015​ requires removal of Social Security numbers from all Medicare cards and replacing it with a new Medicare Beneficiary Identifier (MBI) by April 2019.

With the proliferation of identity theft and fraud over the years, the new Medicare card will help to protect Americans private health care and financial information and federal health care benefits and service payments by using 11 characters in length of upper case letters from A- Z and numbers 0-9.

How long will this process take? How does this affect me?

The new Medicare card will work in phases using geographic location and will take a full year finalizing in April 2019. After December 31, 2019, those enrolled in Medicare must use the new Medicare card.

Obviously, this volume of work takes time and people will be receiving cards at different intervals so don’t worry that your neighbor’s card arrives first.

You can check out when your state will begin receiving the new Medicare card at www.cms.gov/medicare/new-medicare-card/nmc-mailing-strategy.pdf .

Also, be sure to update your mailing address if there have been changes by contacting the Social Security Administration at www.ssa.gov/myaccount/ or call toll free 1-800-772-1213 (TTY 1-800-325-0778).

Will my new card and new number protect me from fraud or identity theft?

Just as your Social Security number and card should be protected, your new Medicare number and card should be also. The best way to protect yourself is never give personal or private information to a stranger over the phone or at your front door. Be aware that Medicare and Social Security will NEVER contact you by phone. If you receive a call by someone claiming to be from Social Security or Medicare, HANG UP! Both agencies will send you a letter to let you know you need to contact them. 

Millions of dollars are lost due to scammers who obtain Medicare card and personal ID numbers and use it to fraudulently bill for services never ordered or used and your credit can also be damaged. Seniors are most vulnerable to scammers and they need to make sure that other friends and family members are aware, as well.

Your new Medicare card will be as unique as you.

Finding a reputable and trusted partner to assist you with your financial & insurance needs is of vital importance.  I will work hard to find the best programs, coverage and rates that fits your budget and your needs. Contact me at 949-216-8459 or ccolley@coliday.com


Information and materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice. The above information is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Coliday and Craig Colley are not affiliated, employed or endorsed by the SSA, Medicare.gov. or any other government agency.

Social Security Maximization

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New Generation Retirement Plan

The Ultimate 5 Step Retirement Planning Process
Your FREE  guide to a safe and secure retirement

It wasn’t so long ago that retirement meant a pension and a gold watch, but today’s world looks much different than it has for generations past. From increased market volatility and historically low interest rates to the loss of pensions and the rising cost of health care, the burden of retirement falls more heavily on the shoulders of individual Americans than it ever has before. But you don’t have to carry it alone.

5-STEP RETIREMENT PLANNING PROCESS

1. Selecting a Financial Services Professional

2. Fact and Feeling Finding

3. Planning

4. Solutions and Executing

5. Ongoing Relationship

New Generation Retirement Planning is a holistic approach to retirement planning. It consists of a five-step retirement planning process that incorporates three hallmarks of our company – stewardship, transparency and technology.

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Together, we will traverse five important steps in the New Generation Retirement Planning process, where you will explore key areas that are fundamental to successful retirement planning. You will be confident knowing that you have given careful consideration to risk exposure, income planning, legacy planning and tax strategies.

Let us craft a plan uniquely suited to help you thrive in this new generation of retirement.

5-STAR SERVICE

With a focus on a new generation of retirees, our company uses the New Generation Retirement Planning process, which is based on three hallmarks of successful retirement planning: stewardship, transparency and technology.

STEWARDSHIP 

Finding a trusted financial services professional is one of the most important elements of planning your retirement. Providing you with a stewardship level of service means we have the responsibility to present solutions that are suitable for your situation. Our commitment to you is that we will always keep our focus on your goals and objectives and will  act with transparency throughout our relationship.

TRANSPARENCY 

Our commitment to transparency ensures that each step of our work together is recorded and that every document and report are easily accessible to you. This allows us to track the evolution of your plan and make any necessary adjustments to it along the way. Our commitment to transparency is visible through a strong foundation of technology.

TECHNOLOGY

We think the challenges you face in retirement today are more complex than those faced by any other generation, but the right technology can make managing and organizing your retirement an easier process.

Our office utilizes Generational Vault, which is a proprietary online portal accessible through our website. It contains the necessary tools to help make decisions appropriate for you and your retirement. It also serves as the vehicle to document and record our commitment to act as a stewardship and act with transparency throughout our relationship.

Color of Money Risk Analysis

The Color of Money Risk Analysis assesses your financial picture and provides a roadmap to your overall risk preferences. The output will be a proprietary Color of Money score. This short, interactive analysis is the first step on the road to retirement.

Did my question make you wonder what colors have to do with money? The amount of money we earn, save and spend is driven by our personality and beliefs.

This can also drive the choices we make about what we do with that money. In short, the investments we choose determines the color of our money. It reflects our overall personality, lifestyle and values, as well as our spending and saving methodologies.

Red- These assets have a higher degree of risk. There is good growth opportunity, but preparing for volatility is important with these assets. Red does not mean the assets are dangerous. It simply means you should stop, look both directions and proceed with caution in making your investment decisions.

Yellow- These assets are safer but still call for cautious examination. There are unique growth opportunities and Yellow assets do not carry as much risk as Red assets. You may not have as much growth opportunity as Red money, but you do not need to come to a complete retirement stop before proceeding.

Green- Green money should be labeled on assets that have safety and guarantees. Your growth potential is less than Red and Yellow money, but you may move comfortably through retirement knowing your assets are safe and available to provide the income stream you are looking for in retirement.

Striking a healthy balance with the colors of your money can help you reach your pre and post retirement goals.

Each color of money has unique benefits and features.

Color of Money Risk Analysis

The Color of Money Risk Analysis assesses your financial picture and provides a roadmap to your overall risk preferences. The output will be a proprietary Color of Money score. This short, interactive analysis is the first step on the road to retirement.

Did my question make you wonder what colors have to do with money? The amount of money we earn, save and spend is driven by our personality and beliefs.

This can also drive the choices we make about what we do with that money. In short, the investments we choose determines the color of our money. It reflects our overall personality, lifestyle and values, as well as our spending and saving methodologies.

Red- These assets have a higher degree of risk. There is good growth opportunity, but preparing for volatility is important with these assets. Red does not mean the assets are dangerous. It simply means you should stop, look both directions and proceed with caution in making your investment decisions.

Yellow- These assets are safer but still call for cautious examination. There are unique growth opportunities and Yellow assets do not carry as much risk as Red assets. You may not have as much growth opportunity as Red money, but you do not need to come to a complete retirement stop before proceeding.

Green- Green money should be labeled on assets that have safety and guarantees. Your growth potential is less than Red and Yellow money, but you may move comfortably through retirement knowing your assets are safe and available to provide the income stream you are looking for in retirement.

Striking a healthy balance with the colors of your money can help you reach your pre and post retirement goals.

Each color of money has unique benefits and features.