Why More Americans Don't Own Life Insurance

Posted by Mark Germain, CFP®, MBA, ADPA®


It is well documented that Americans in general are under prepared financially for retirement. Yet less attention is given to the fact that life insurance -- a standard supplemental vehicle to retirement accounts and other investments -- is underutilized by all generations of retirement savers.

Recent research conducted by Life Insurance and Market Research Association (LIMRA) and the nonprofit Life Happens found that 43% of U.S. consumers have no life insurance coverage, even though the same percentage said that they would feel a financial impact within six months if a primary wage earner died.1

The chief obstacle to purchasing a life insurance policy -- or purchasing more coverage -- cited by survey participants of all ages was cost.1 Yet the vast majority of those polled (80%) overestimated the price of a simple 20-year term life insurance policy by wide margins.1 For instance, Millennials miscalculated the cost by more than 213%, while Gen Xers missed the mark by 119%.2

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Topics: Financial Planning, Life Insurance

Income Inequality and Its Impact on Women's Retirement

Posted by Mark Germain, CFP®, MBA, ADPA®


 Here are the facts. Generally speaking, women earn less than men, live longer than men, and often take time out of the workforce to have children and/or to care for an aging parent or sick loved one. The potential consequence of these realities? While most U.S. workers are facing a retirement savings deficit, for women, the effect is compounded: Lower pay translates into reduced Social Security benefits, smaller pensions, and less retirement savings.

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Topics: Financial Planning, investment strategy, Finance for Women

What's on Your Mind?

Posted by Mark Germain, CFP®, MBA, ADPA®


What’s on your mind?

Clients have a lot on their minds these days about how their portfolios will be impacted by various forces--and who can blame them during these volatile times? Here are three that have recently been brought to my attention:

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Topics: Stock Markets, Presidential Election, The Fed

Doves and Hawks Mulling Their Options at the Fed

Posted by Mark Germain, CFP®, MBA, ADPA®


Doves and Hawks Mulling Their Options at The Fed

On September 21 the Federal Reserve released the minutes from the Open Market Committee’s (FOMC) August meeting. This periodic ritual is watched by the entire financial sector extremely closely; every word and every line is meticulously examined, run through various text-based software apps for signs of an interest rate harbinger--either in the form of a white feathery dove or a red-tailed hawk.

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Topics: Interest Rates, Banks, The Fed

Monthly Market Recap: August 2016

Posted by Chris Cacchiola, CRPC®


Beacon's August 2016 Market Recap is now available. To view the PDF file, please click the image below. 

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Topics: Financial Markets, market update

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