Arizona Financial Planning-Guidance to the Retirement You Deserve

Retirement is supposed to be the time in your life when you have finally achieved the financial independence to do precisely what you want, when you want. More importantly, retirement is supposed to afford you the time to do live out your own dreams. Arizona financial planning services and expertise work diligently to help you obtain a relaxing, stress-free retirement. With thoughtful planning, retirement funds will work for you, not you for them.

Many advisors look to build expertise in retirement income to better serve their clients' needs. In their most recent quarterly survey, Russell Investments discovered that 98% of advisors are working committedly to hone their understanding of the retirement market. In their desire to find the best investment strategies for their clients, advisors are looking to "online materials and books (68%), industry peers (52%), fund companies (49%) and accredited courses (45%)." With such differentiated sources, advisors are certain to offer their customers a much diversified base of knowledge. Considering the individual needs of every retiree, this variety of information is crucial to matching the best retirement plan to each client.

Deciding upon the realistic amounts you will need for a comfortable retirement is another area of expertise of the financial advisor. 61% of advisors report that their clients incorrectly estimate the amount of funds they will need to carry them through retirement. Many retirees rely upon the media, family, or friends to gather data about retirement patterns, but often times these sources unknowingly and unintentionally mislead. The investment markets are so complex and ever-changing that the knowledge and training of an expert will provide you with a more accurate representation of the practices that will best serve your needs.

Along with your skilled advisor, The United States Department of Labor has created a helpful list of the top 10 ways to prepare for retirement.

1. Start saving, keep saving, and stick to your goals.

2. Know your retirement needs.

3. Contribute to your employer's retirement savings plan.

4. Learn about your employer's pension plan.

5. Consider basic investment principles.

6. Don't touch your retirement savings.

7. Ask your employer to start a plan.

8. Put money into an Individual Retirement Account.

9. Find out about your social security benefits.

10. Ask questions of your financial advisor.

The only one who can begin your retirement planning is you. Most American, in fact more than 50%, are woefully unprepared for the financial needs of retirement. It is startling, but in 2010 more than 30% of employees did not even participate in their companies' defined contribution plans, like a 401k or 403b. Since the average retirement spans 20 years, that is a lengthy amount of time to struggle with cash concerns. Sadly, many Americans don't realize that they saved insufficiently until they are in their retirement years. Then, it is too late to do anything, but reenter the work force. You certainly recognize that as a worst case scenario.

With a bit of forethought on your behalf, you can enact measures now to provide yourself with the retirement you deserve. Examine the United States Department of Labor's retirement tips and then contact a qualified and trustworthy financial advisor whose expertise will flawlessly guide you to the financial security you deserve. We at Country Financial are eager to help you plan your future financial goals today.

If you have questions about financial planning contact:

Country Financial - Mark Derrico Insurance
2470 W. Ray Rd Bldg G Ste 3

Chandler, AZ 85224

(480) 219-1828

http://www.markderricoinsurance.com

Should You Drop Comprehensive and Collision from Your Auto Insurance? Chandler AZ Agent Weighs In

Comprehensive and collision are usually the two most expensive coverages you carry on your Chandler AZ auto insurance policy, so removing them from your policy might sound like a good idea. Before you decide to drop these physical damage coverages completely, take a look at a few factors and decide if it is the right decision for you.

Do you have a teenage driver on your policy?

One of the reasons auto insurance in Chandler AZ is more expensive for young drivers is because they have less experience behind the wheel. If you have a teenage driver in your household, you might want to keep your comprehensive and collision coverages in case your young driver’s inexperience causes damage to your vehicle. The peace of mind of knowing that the damage is covered is worth the price of having the insurance in place.

Are you making payments on your car?

If you are making payments to a bank or other financial institution for your vehicle, they will probably require that you keep comprehensive and collision insurance on your policy so their interest in the vehicle is protected. Although you will need to keep the coverage, you might be able to raise your deductible to reduce the cost of your policy. Contact your bank and ask them what the highest deductible is that they allow. There are several deductible amounts available, so as long as you have a lower deductible than your bank requires they should be satisfied.

What is your car worth?

Owners of older vehicles with lower values don’t see as much benefit from physical damage coverage as do owners of vehicles with higher values. This is because minor damages can cost just as much to fix as it would to replace your car. If your vehicle has a low value, now might be the time to consider removing these coverages from your policy.

Do you rent vehicles on vacation?

If you rent a car while you are away on vacation, your comprehensive and collision insurance coverages may cover any damage to your rental vehicle. If you do a lot of traveling, having these coverages on your policy can save you quite a bit of money since you wouldn’t need to purchase the rental car company’s physical damage insurance. Car rental companies usually charge around $20 per day for physical damage insurance, but if you have this covered on your auto insurance policy you might be able to say no to this extra expense. Make sure it is covered under your policy before you decline the coverage, because there are some situations when your policy won’t be able to cover rental vehicles.

It can be a difficult decision to make when you are deciding whether to carry specific coverages on your insurance policy. If you have any questions about whether you should carry comprehensive and collision coverages on your auto policy, please contact any one of our AZ insurance agents and let them help you figure out what is in your best interest or stop by my office anytime and I will be happy to help you in any way that I can. Be sure to ask about getting a discount on your auto insurance by packaging it with a Home Insurance policy.

Prepare for Fire Season by Evaluation your Chandler AZ Home Insurance Policy

The 2012 Arizona wildfire season has already started, and the U.S. Forest Service estimates that the 2012 season could be as bad as the historic 2011 fire season.  The 2012 National Seasonal Assessment predicts an "above normal significant fire potential" for the Arizona mountains, with a normal significant fire potential predicted for other parts of Arizona.  As of May 16, the Gladiator Fire had already destroyed four structures and threatened almost 400 more. 

There are several steps homeowners can take to prevent fire damage to their property, including using fire resistant materials, providing a firebreak, and creating a defensible space around structures.  If the worst does happen, homeowners also need to be sure that they are adequately insured to cover a catastrophic loss of their homes.  The Insurance Information Institute lists four key questions homeowners should ask to insure adequate coverage in case of a disaster:

1. Is my insurance coverage enough to rebuild my home at today's costs?
Insuring your home for its value may not be enough to rebuild your home at the price of current construction. Adequate coverage should include a replacement cost policy that will pay for the replacement of damaged property with comparable materials. Arizona homeowners might also want to consider an extended replacement policy that will pay an additional 20% above policy limits if a disaster--such as a widespread wildfire--raises the cost of materials and labor. Other options include inflation or ordinance riders which help cover the impact of inflation or new ordinances on construction costs.
2. Is my insurance coverage enough to replace all of my possessions?
Most homeowners insurance policies cover possessions at a rate of 50-70% of the amount of insurance on the structure of this home. A home inventory is the best way to determine if this is enough coverage to replace your personal possessions if they are lost to a fire or other disaster. You can ensure your personal possessions by either a cash value or replacement cost policy. Cash value policies cover the cost of replacing your property after depreciation. Replacement cost policies cover the replacement cost of your possessions at today's prices.  Your insurance agent can help you determine whether a cash or replacement policy is the best option for you. 
3. Will my insurance cover my extra expenses if my home is destroyed?
If your home is destroyed in a wildfire or other disaster, there will be additional expenses beyond replacing your home and possessions. Coverage for additional living expenses would pay for the extra cost of living away from home and includes expenses such as hotel bills and restaurant meals.  It could also cover lost rental income if you rent out a portion of your property. 
4. Will my homeowners insurance adequately protect my assets?
This question isn't directly related to disaster planning but it is still an important factor in evaluating your homeowners insurance needs.  Liability damage protects you against claims made for bodily injury or property damage caused by you, a family member, or a pet.  Liability damage covers court costs as well as any costs incurred in a court judgment up to the limits of your policy. Additional coverage beyond your policy limits is available in the form of an excess liability or umbrella policy.

Wise preparation for fire season should include making sure your home is adequately insured. Your insurance agent can help you evaluate your Chandler home insurance needs.

Have questions about your Insurance Policy, contact any one of our great Arizona insurance agents.

How to Head-off Potential Claims on your Chandler Home Insurance Policy

Now that you’ve purchased your Chandler AZ Home Insurance, it’s time to think about steps you can take to prevent, or lessen, future claims.

Here are some tips that might help in keeping the claims adjuster away.

• Buy enough coverage: Find out what it would cost to rebuild your house in your area. Want to keep the same look to the house? Ask a builder for an estimate on the cost to rebuild. Don’t skimp on coverage, and forget about paying that little extra for that piece of mind for insuring your home and belongings.
• Bring on the fire department: Ask your local fire station to come by your house and do a fire safety inspection---and include your kids when they come to your house. Spotting fire hazards and fixing them will certainly pay off in the long run.
• Insure that Picasso: Okay, maybe you don’t have a Picasso hanging in your entryway, but you might have a few, so-called luxury items like jewelry and an heirloom desk sitting in the den. Make sure you have the ‘rider’ for coverage, if needed.
• Water...water: Everywhere. If only you would’ve changed that leaky hose on the washing machine before you left on vacation. Do a survey of your in-house connections. Sprinkler system? Make sure the automatic timer is working correctly and not ‘hanging up’ for hours on that station by your basement window. 
• Accidents waiting to happen: Walkways and steps invite all sorts of potential for liability claims from strangers or friends coming to your property. Make sure step rails and decking are in good repair. 
• Wind and hail: It’s not uncommon, or rare, for a major onslaught of wind and hail to hit parts of Arizona. Heed warnings by battening down patio furniture, or screen doors…and even keep tree limbs trimmed back. 

It makes good sense to review your homeowner’s insurance coverage with your Arizona insurance agent at least once a year.

Should you have questions about your Chandler Home Insurance policy contact: