Insurance (is) the ignored component in financial planning . . . . . CNBC.com
“Risk management” … is … “the first thing you should look at before investing – it’s critical.”
“… it’s increasingly important to … plan for extended … expenses … that Medicare doesn’t cover!”
My Comment:
This topic sadly can devolve into a political discussion quickly, but it shouldn’t. In many conversations with folks, I’ve come to realize that there is a lot of ignorance out there about what Medicare (and / or Medicaid) does and does not cover – especially for folks who have accumulated some investments and retirement accounts in addition to home ownership.
The sad fact is that poor or inadequate risk management can easily wipe out all of the prudent saving, investing, budgeting and other financial planning that you have accomplished over an entire lifetime!
Get the facts . . . then consult a knowledgeable professional!