Consumers need a plan for retirement and unexpected challenges. Workers could sustain serious injuries that prevent them from working. The individuals must take these possibilities into consideration when planning for the future. A financial advisor offers a plan to secure the consumer’s future.
401-K Retirement Accounts
401-K retirement accounts are matched by the employer. The value of the retirement plan is defined by the pre-tax contributions submitted by the account holder. The employee determines the exact value they want to submit, and they have the opportunity to increase or decrease the contributions based on their preferences.
Temporary and Permanent Disability
Temporary and permanent disability policies are obtained through the employer. The financial advisor helps the individual review each plan available to them. Typically, the consumer pays a small premium for the coverage each month. The policies provide a portion of their wages and in-home nursing if the individual becomes sick or undergoes surgery. If they are unable to return to work and weren’t injured on the job, the policies provide adequate coverage.
Social Security Disability Insurance
A financial advisor helps the consumer determine when they should sign up for SSDI. After the individual develops a disability, the advisor helps them to determine if SSDI provides adequate funds to support the consumer. The benefits are calculated according to the total number of years that the individual worked. The contributions were deducted from the individual’s earnings during each pay period.
Residual Income Opportunities
Residual income opportunities start with rental properties. The rental payments generate residual income based on the total value received each month. If the consumers have an apartment complex or more than one rental home, they could maximize their income. All they must do is to complete repairs and keep the home up to code.
Consumers evaluate retirement plans and options if they develop a temporary or permanent disability. The plans help consumers support themselves based on the life events they face. The financial advisor introduces the consumers to employer-based plans including 401-K retirement plans. Select insurance policies could also pay for vital services such as in-home nursing after surgery. Consumers who need a better plan contact shailesh dash today.