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Breaking News!!

As many of you know we are on vacation in the beautiful Jackson Hole, Wyoming area, but an issue has come up that I think is so important that I am taking a break to get this information out to you.

California is home to more people than any other state and is also home to the greatest number of seniors. It is also a very tough state for insurance companies that sell Long Term Care insurance – you would think because of our huge population that insurance companies would be lined up to sell their long term care products here. They are, however, in their attempt to protect consumers the state of California has made it almost impossible for the Long Term Care insurance companies to get their products approved or updated for sale. It’s no secret that companies are leaving California – this is true for insurance companies as well

At Wealth Financial Group West we have consistently been on the cutting edge of researching and finding ways to provide you with the best long term care options available as our overriding goal is to protect you are your family’s hard earned wealth.

Well, as of June 30th one of the very best (in our opinion) carriers in the already very limited field of Long Term Care insurance providers is pulling out of California. Mutual of Omaha’s insurance plan is unique in that a couple can buy a policy that allows you to draw from the same pool of money when long term care be needed by either one of you. This allows you to significantly save on cost and still have a very sizable pool of funds when the time comes that long term care is needed. This is the best way we have found to maximize dollars spent on Long Term care insurance!!!

So, if you have put off getting Long Term Care insurance, or if you know someone who has, NOW is the time to act. Additionally if any of your adult children over the age of 45 who do not have Long Term Care insurance should give us a call – the cost of LTC when you are young is significantly less and very affordable.

We must have all applications to Mutual of Omaha dated before June 30th – last chance to purchase this unique product. Our office is open and Jessica can book phone appointments for those who want to know more. We’ll see you next week.

Sincerely,

Tami

I was listening to Heidi Harris this morning on the way to work on The Answer 590 KTIE and she was talking about Governor Brown’s May Budget Revision conference held yesterday (5-14-12). The speech centered around the budget deficit that California now faces which is $16,000,000,000 more than expected. How do you make a 16 billion dollar mistake?
 
To correct this “mistake” the governor wants to add $10,000,000,000 (that $10 billion) in new taxes and increase spending by $70,000,000,000 (that’s $70 billion).
 
And of course we’re told that if we don’t do this we will lose essential services like fire, police and teachers. Why is it we always need to cut these kinds of services? Are there no other areas that could be cut back?
 
Back in 2010 Meg Whittman gave a talk about the great need for welfare reform in California. She brought out some fascinating facts:
 

• In 1996, California had 21 percent of the nation’s welfare cases. Today, 32 percent of all welfare cases in the United States are in California, even though we only represent 12 percent of the total U.S. population
• California is nearly twice as big as New York state, but we have five times as many welfare cases
• Only 22 percent of welfare recipients in California who are required to meet federal work minimums are working.
• Our state is one of only nine that does not unconditionally enforce the federal government’s five-year lifetime limit on cash welfare assistance
• The monthly welfare check in California is almost 70 percent higher than the national average
• According to 2010 TANF data provided by HHS California accounts for 32.62% of all the welfare rolls in the country. One third!

Justin Hart (http://ihartpolitics.com/?p=69) has put these and other stats into some visuals:

We recently celebrated Tami’s birthday up at her and Dan’s home in Lake Arrowhead. A few clients stopped by to join in the festivities, including the Wolfsont and Colella families.

Dan & Tami invited clients to come to their home for an "Autumn in the Mountains" Client Appreciation Day last October. We thought you would enjoy seeing some of the photos!