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sense to buy life insurance to provide a predictable lump sum
of money that will go to your spouse, children, grandchildren,
or whomever you would like to protect.
Life insurance proceeds may be used to offset the financial
losses that may occur when someone passes away, such as
the loss of a pension, employer-paid healthcare benefits, and
that person’s Social Security income. In addition to using life
insurance to protect beneficiaries, long-term-care insurance
may also offer protection in the form of preserving assets
designated for generating income.
Inflation
Investing too conservatively may cause your investments to
grow too slowly. You may need to consider investments that
have the potential for a higher rate of return. This higher rate of
return can help you outpace inflation over decades of retirement
by maintaining your purchasing power.
Chapter 6: Your Action Plan
