August Newsletter
August 1st , 2018
Captain's Log


We hope everyone is enjoying the summer so far. We took July off from seminars, but we'll be back at it on August 9th & 14th at Chillfire in Denver, NC. So, if you'd like to attend or if you have friends or neighbors that you think could benefit from meeting us, then just give us a call and let us know. Kelly and I have kept busy at the office this past month, and as always things are changing all the time.  You'll see from this month's Lake Norman Currents article and the AE Wealth Report, we discuss two very important planning tools in retirement - Life Insurance & Medicare. Without question, far too many folks do not plan properly when it comes to life insurance & Medicare. 

Life Insurance can be a remarkable planning tool in retirement if used properly for the right reasons. It's an "asset class" that's not used nearly enough in retirement for tax planning, legacy planning, long term care planning, safe growth of assets, and the list goes on and on. I'd encourage everyone to learn more about how life insurance can benefit both you and your family in retirement planning.

Medicare is one of those things people take for granted. Read my Lake Norman Currents article to get the basics of Medicare. But here's a few things I will say about Medicare. One, know the difference between "Standard Medigap / Supplement" plans and Medicare Advantage plans. Two, don't pay too much for your Medicare Supplement plans! Far too many times, Kelly and I are able to show people how to save a good amount on their plans (as long as you're insurable). If you have any questions, or think you might be paying too much, just get in touch with us we can help you out.

If you'd like your own
Chart Your Course Retirement Review or a second opinion on your current retirement plan, then just let us know. 

And, as always, remember -  The purpose of the money dictates where you put it. 

Until Next Month,
Jim's signature
  James D. Stillman

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Medicare Planning 101
By James D. Stillman
                                August 2018

I've had numerous people ask me to write an article about basic Medicare insurance planning. Having a good Medicare plan is an important part of any overall retirement plan. Once you reach the age of 65, you become eligible for Medicare and some important decisions must be made. Please be aware, Medicare does not pay for nursing home or Long Term Care expenses! Long Term Care planning is a whole separate issue retirees must address. Check out last month's article for some ideas on how to tackle Long Term Care planning.

Medicare has four parts, and each part has certain charges and deductibles:

Part A is hospital insurance, and covers inpatient care, limited skilled nursing, limited home health care, and hospice. Most folks (or their spouse) have worked long enough (40 quarters) to get Part A for free. If you or your spouse don't have enough credits earned, then there will be a premium for Part A.

The Wealth Report:

Three Reasons To Own Life Insurance

Basically, life insurance is there in case you ever are not. In exchange for a one-time or ongoing premium, a beneficiary(s) receives proceeds upon the death of the policy owner. This money can be used in any way the recipient sees fit. For the policy owner, life insurance can provide a sense of confidence that his or her loved ones will be financially provided for should something happen to him or her. Although life insurance can be used to address a wide variety of financial issues, family financial well-being is generally its most important feature. 

When determining whether you should purchase life insurance to replace income, ask yourself this question: "Does anyone rely on me financially?" If the answer is yes, then you should own life insurance. If the answer is no, then you don't necessarily need life insurance for this purpose. 

When you purchase life insurance, you are essentially making a deal with an insurance company to trade payment - known as a premium - for the guarantee that it will pay your beneficiaries a set amount upon your passing. This is known as the death benefit, and all guarantees are based on the claims-paying ability of the insurer.

All content is intended for informational purposes only. Any guarantees are for insured products only and are dependent on the claims paying abilities of the insurer.  All investments carry some risk and you should be advised by your personal financial advisor before implementing any strategies discussed, as they are not suitable for everyone. James D. Stillman is an Investment Advisor Representative of JDS Wealth Management Corporation and AE Wealth Management. 

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