Articles of Interest

Jim Gallagher started writing his column for the St. Louis Post-Dispatch in 1994. After all that time, there are a few things he knows about how people and money mix. Here are some excerpts from his last column - just some basic smart, down to earth advice.

Think back to those early days in life when it seemed like everything in the candy aisle was free if you begged your parents hard enough. Not a fleeting thought was given to the expenses of a vacation or the copay costs at the doctor. There’s something beautifully unburdened in the way which children experience the world: recklessly present and innocently ambivalent.

Unquestionably, disability insurance is more complicated than other forms of insurance. There are a lot of moving parts to understand in order to create the right kind of coverage, which may be one reason why many people are reluctant to look into it. No one likes to pay for something they don’t understand; however, once you understand the risk and your need for protection, purchasing a disability insurance policy becomes much more straightforward. Then you just need to know what to look for in a disability insurance policy to best suit your needs.

For the first time in public policy, the ABLE Act recognizes the extra and significant costs of living with a disability. These include costs, related to raising a child with significant disabilities or a working age adult with disabilities, for accessible housing and transportation, personal assistance services, assistive technology and health care not covered by insurance, Medicaid or Medicare.  For the first time, eligible individuals and their families will be allowed to establish ABLE savings accounts that will not affect their eligibility for SSI, Medicaid and other public benefits.

When people decide that they need to eat healthier or lose weight, they know that they have to change their behavior. That’s easier said than done for most, which is why programs like Nutrisystem and Weight Watchers are so popular; because they provide a system for automatically controlling portions and nutrition.

The success or failure of a financial plan is driven by a variety of possible influences. Factors like the right rate of savings, good investment selection, and careful risk management are all important and commonly recognized as elements of a high quality plan. Going a step further and incorporating a well thought out estate plan can turn a good plan into a great plan.