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on the radio with Paul Petillo
Join Paul Petillo, Dave Kittredge and Dave Ng every week on Financial Impact Factor Radio as they to discuss everything from retirement to insurance, investing to estate planning, from getting started to preparing to stop.
books by Paul Petillo
I just published my fifth book - this time with Smashwords! ReBuilding Wealth in a Paycheck-to-Paycheck World by Paul Petillo, copyright 2011 This ebook is available across all platforms including iPad and iPhone, Amazon and Sony.
on personal finance
In the world of personal finance, asking what's the worst that could happen is not the same as asking: "will I be able to afford this?" or "have I saved enough for retirement?"
More personal finance
on retirement
The Who, What, When, Where and Why of Retirement
If things are good, for some they won't be good enough. If it turns out that things are not so good, someone will ultimately benefit for this off-chance negativity.
More on retirement planning
on mortgages
American dream or not, the games you may have once played with financing your home are not available for the vast majority of homeowners.
More on mortgages and homes
on insurance
Insurance : Life, Health, Auto, Home
Is the insurance industry the next victim of the financial crisis?
Health Channel
on investing
The mutual fund investor has a great many more options available to them in the post-Great Recession marketplace. The question is: are they right for you as you make a retirement plan using 401(k)s or IRAs?
More on investing
on twitter @PaulPetillo
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Zack's Investment Tools: Stock Screener or Mutual Fund Screener
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Our recent financial discussions
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on living longer
There is growing concern among the insurance industry officials that their actuarial tables may be outdated. The tables established in 1983, when the chances of living to 100 were much smaller, force the industry to relinquish the cash value of your policy at 100 years old. This might not seem like much, but those built up values, usually in whole life policies, while tax free to beneficiaries are not if they are paid to individual policy holders.
The actuarial tables - which are guesstimates by the insurance industry of life expectancy as policyholders reach certain milestone ages - may be sadly out of date. In 1980, there was a 22.2% chance of death within a year of reaching the age of ninety for men, 19.1% for women. Now the industry is beginning to see the trend shift significantly in favor of the insured living well beyond that. Figures available for 2001 show that rate has dropped significantly with more and more people living well beyond the estimates.
Revised numbers, which the industry has proposed as good will gesture, show that if you reach 100 years old, men have only a 36% chance of death within a year while a quarter of the women centenarians who reach that age are expected to pass on.
Expect any changes in the 1983 federal law to show up in lower premiums as a result. Compared to 1950, a year that had less 3,000 centenarians, now has over 51,000 currently residing in the U.S.
bluecollardollar: from the blogFrom On Insurance
bluecollardollar: resources
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