Dealing with Disability

March 17, 2016

Planner: Michael via 1 on 1 Consultation

Problem: Her husband broke his back and became disabled, which led to their income dropped to only disability income. She was only contributiing 2% to her 401k & it was all in Stable Value.

Suggested Action Steps: We discussed getting her contributions up to 6% & broadening their allocations. I recommended looking into Target Date funds, downsizing their residence, and getting an estate plan in order.

Results: She increased her contribution to 6%, prepared their estate plan and re-allocated her 401k.  They also listed their house for sale with the goal of downsizing, reducing their housing costs & being able to save money on a monthly basis.

Testimonial: “The planner helped me to understand how to better save and invest my money, he put it in terms I could understand and encouraged having my spouse be on future calls.” – Anonymous