1. 2. Poll Recap: How Will You Watch The Super Bowl? 3. Maintain Your Lifestyle In Retirement 4. Understand & Prepare For Long-Term Care 5. Ask Us A Question! 6. “Things work out best for those…” 7. Financial Planning For Gen Z

Inflation stays hot, and consumer spending rose. Where’s the recession the inverted yield curve seems to be predicting? Annex Wealth Management’s Dave Spano and Derek Felske discuss.

Last week we asked if you were planning on watching the Super Bowl through a streaming service, compared to traditional broadcasting and other similar options.  

Per Fox Sports, there were a total 113 million viewers for the big game. Of those 113 million, 7 million were streaming. This number is up 18% from last year’s game, which was 6 million. 

As for the results of our poll, an overwhelming majority (73%) said you were not going to be streaming the Super Bowl, whereas 25% were, and the remaining 2% weren’t sure yet of how they would be watching. 

Even though the final numbers show streaming as a minority choice, the increase in streaming numbers from 2022 to 2023 suggests future Super Bowl viewership will continue to shift towards streaming. 






Understand & Prepare For Long-Term Care

This week’s MoneyDo is to consider the potential costs of long term care.

Long term care becomes necessary when we can no longer perform activities of daily living by ourselves like bathing, getting dressed, or eating. The care provided is not rehabilitative in nature. Therefore, health insurance or Medicare won’t cover it.

Without special insurance to cover long term care needs, the expense will be funded “out of pocket.” One question to ask yourself is “Do I have enough income and/or assets to pay for long-term care? Is long term care insurance necessary?”

We believe there are three primary concepts to consider when weighing long term care insurance: the financial ability to pay for long term care, spousal impoverishment, and the impact long term care has on legacy goals. Consider this example:

· Bob is single and lives on pension income, Social Security and $800,000 of investments. He is not concerned if he leaves a legacy after his death.

· After a little research, Bob estimates long term care could cost him $115,000 per year in his area.

· After a complete analysis which considers his annual spending and other retirement goals, he determines he can afford at least 3 years of long term care in the future.

· He decides to fund any possible long-term care expenses from his income and investments.

· He makes the decision to not purchase a long-term care policy.

Bob’s mindset may change if he’s married or has kids. At once, the long-term care decision has become more complex, since asset depletion could impact more than just Bob. His span of concern would include his wife, who could become impoverished, or that he’d potentially be leaving his kids very little as a legacy.

As a husband and a parent, Bob may determine a long-term care policy would cover a significant portion of his long-term care expense, thus leaving assets to his wife to maintain her lifestyle and a possible legacy to their children.

Make sure you consider how long you’ll have to pay long term care insurance premiums. You’ll typically need to keep paying long term care insurance premiums throughout your retirement to keep the insurance in force.

In other words, you’ll need enough spare income in your retirement to pay the premiums. Depending on the size of those premiums, this can be a significant factor. Long term care insurance is not inexpensive.

So, consider this MoneyDo carefully. We suggest reviewing your financial plan. Make sure your goals will remain intact if there is a need to cover long-term care expenses in the future.