Most types of insurance are about playing defense.
They’re designed to protect what you have and help you to be prepared for (and never crushed by) setbacks.
Life Insurance protects your family or business to pay debts and replace income.
Disability Insurance replaces your income is you can’t work because of injury of illness.
Health insurance pays for the hospital bills when injured or sick.
Long Term Care provides cash to pay for home health care, assisted living or nursing home expenses.
Most investments, on the other hand, are where you play offense.
They’re a way to grow your money, your business, and your retirement funds.
But the picture can start to get complicated when you have to make trade-offs to stay financially balanced and to stay true to your risk tolerance. Insurance doesn’t always have to be defensive: For example, it can be a strategic tool to help businesses attract and retain employees. Similarly, investments don’t have to be aggressive: Using certain financial risk at different stages of your life, or in different market conditions, can be a defense against over-concentration (holding too much money in too few investments). But when and how often should you rebalance your portfolio?
Thatʼs where a coach comes in. We’ll guide you through your financial future, carefully considering your objectives, risk tolerance, and timetable before you invest.