I GET THESE QUESTIONS
A LOT....
Find the answers you're looking for about private insurance & financial life planning.
How can the FINANCIALIST help me reach my goals?
Financial planning starts with setting your goals. Saving for retirement may be your most important long-term goal, but you likely have other financial goals, too. Would you like to buy a house, get out of debt, build an emergency fund or save for your kids’ college? And do you have shorter-term goals, such as saving for next year’s vacation without landing in a pile of debt or buying a car in the next few years?
The sooner you start planning for your goals, the better prepared you will be to reach them. By working with The Financialist, you can get help to figure out how to prioritize these goals, as well as the amount of money you need to save from each paycheck to reach them.
The Financialist is also trained to help you protect your savings from risks that could derail your plans.
What services does the financial planner provide?
The Financialist can help you navigate your financial life and help secure your financial future. The Financialist can help you with a particular financial need or to create a comprehensive financial plan. Generally, the two main types of The Financialist services are insurance and financial planning. Whether you are seeking one-time advice or a more holistic roadmap for your financial future, the Financialist is your trusted guide in the process.
When should you make a financial life plan?
You don’t need to wait until you have a lot of money to create a financial plan. In fact, you can benefit from some level of financial planning at any life stage. At different life stages, you may have a different set of financial decisions to make. The Financialist can help you reach your goals and help provide financial security for you and your family.
If an insurance company goes out of business, do I lose my money?
A common concern of policy holders or those thinking about getting insurance, is what happens to their money if the insurance company they choose, goes out of business. What happens then?
In reality things are quite different. The objective of the European Solvency II Directive, is to protect consumers from insurance companies mismanagement. In short, this directive requires insurance companies to have very high levels of capital adequacy, operations that guarantee the appropriate assessment and risk management, but also adequate information for any interested consumer or supervisory authority that wants, at any time, to be informed about the financial situation of each insurance company. Finally, if a company does not meet these requirements and is unable to meet the customer demands, it undergoes a merger process, ensuring the rights of its policy holders are not jeopardized.
What are the key points I should look out for, when choosing a pension plan?
When considering a private pension plan, some factors to look out for are cost, return on investment, terms & restrictions, tax benefits & finally projections and future calculations.
Overall, you need to evaluate your options against your needs and retirement expectations. It is also recommended that you consult with a retirement specialist or financial advisor to help you evaluate your options.
Can I withdraw the capital of my pension plan if I need it earlier?
Most plans allow you to partially liquidate (partially redeem) your savings account before the end of the pension plan. In some cases, if the need arises due to serious health issues, there is even provision for the penalties applicable in the early years to be waived.
Why should I invest in insurance rather than a bank?
The reason to invest in an insurance company rather than a bank may vary depending on your personal priorities and investment goals. However, some reasons that can be reviwed are as follows:
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Yield: typically, insurance companies offer higher returns than banks. This means that you can achieve greater growth of your capital, by investing in an insurance company.
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Variety of products: insurance companies offer a wider range of investment products than banks. This enables you to choose a product that best suits your personal investment goals and preferences.
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Security: insurance companies are usually required to adhere to strict rules and regulations to protect their investors. This can give a sense of security and confidence to investors.
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Convenience and assistance: Insurance companies often provide expert help and advice on your investment. This can help you make better decisions and increase the chances of success of your investments.
However, it is always important to bear in mind that any investment involves risks and you should consider your personal goals, priorities and financial situation before making any investment.