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Plan Now For Long Term Care

Tuesday, March 27th, 2012 and is filed under Long term care, Uncategorized

 Have you considered who is going to take care of you in your later years? Do you deem the child who can’t even put on matching socks qualified? You may require professional care – especially if your condition requires serious medical attention. Long term care is a growing business, and the earlier you invest –the better!  According to the National Center for Policy Analysis, a nonpartisan Dallas-based public policy advocacy organization, more than half of all people who enter nursing homes spend between $65,700 and $328,500 per year. Most experts agree that buying LTC insurance before you turn 60 is a wise decision.

A Client’s Story | Stay-At-Home Mom Faces Divorce

Wednesday, March 21st, 2012 and is filed under Investing for Women - Did You Know?

Janet was a stay-at-home mom her entire marriage. After turning 48, she and her husband divorced. Because of her extended time out of the job market, Janet had very little marketable skills and all of a sudden she had bills, with no job prospects in sight. She was desperate. However, Cathy was able to help by suggesting that she place a portion of her divorce settlement in an Immediate Annuity to generate much-needed income to help her get on her feet. Cathy placed the remainder of her settlement in a deferred Fixed Indexed annuity to help set her up for a more comfortable retirement with guaranteed lifetime income and principal protection.

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Cathy DeWitt Dunn of DeWitt & Dunn, LLC, is the driving force behind Women Money & Power. With decades of experience in the financial services industry, Cathy has dedicated her practice to educating clients on how to take maximum advantage of financial solutions that are not available in traditional brokerage houses. Cathy is proud to be on the forefront of innovative financial solutions for the individual investor.

Consider The Upside of Staying Employed

Monday, March 19th, 2012 and is filed under Investing Quick Tip

How much impact could working five extra years have on your retirement? Let’s assume you’re 65 and have $1,000,000 in retirement assets. If you could earn 5% a year on those funds, your retirement savings would be worth about $1,275,000 at age 70, or about 28% more than at age 65. That means your nest egg could support almost 28% more in distributions.

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Worried You Will Live Too Long?

Tuesday, March 13th, 2012 and is filed under Financial Planning Blogs, Long term care

Most women will agree that living longer is a blessing if, of course, we keep our health and have the financial means to live life to the fullest without becoming a burden to our family. The statistics behind rising life expectancies paint a clear picture of how important a retirement income strategy can be –– a strategy that provides guaranteed income for life regardless of how long you live.

 Life expectancy rose rapidly in the twentieth century due to improvements in public health, nutrition and medicine. It’s likely that life expectancy of the most developed countries will slowly advance and then reach a peak in the range of the mid-80s in age. Read More

Review Your Insurance Policy ASAP | Save $$

Monday, March 12th, 2012 and is filed under Uncategorized

Did you know that most insurance companies thrive on your laziness? While you live your life feeling protected knowing that you are insured on multiple levels, the insurance companies are living large. It is a good idea to review your policy to ensure that you are not overpaying and to see if you qualify for deductions (ie, a security system on your home, or even one on your car can get you a discount). If you are able to shave off $60/month – that equates to $720 year. Also, with so many insurance companies out there, you can shop around for a more competitive rate with the same amount of coverage.

A Client’s Story – Option for a 401k Rollover

Tuesday, March 6th, 2012 and is filed under Financial Planning Blogs, Saving for Retirement

Katy, a female executive at Fortune 100 company, needed an income generation component added to her portfolio as she prepared to retire. Her company’s 401k administrator suggested that she roll over her 401k into a company-sponsored annuity. After discussing her situation with Cathy Dewitt of Dewitt & Dunn (Owner of Women Money & Power), Cathy was able to find an annuity option that would provide Katy over 40% more a month in income. Elated and thankful that she was not bound by the prospects of having to use her company’s annuity option, Katy was able to enjoy a substantially higher retirement income by utilizing Cathy’s expertise in the annuity market. Read More