A viatical settlement is the sale of a life insurance policy by the policy owner before the policy matures. Such a sale, at a price discounted from the face amount of the policy but usually in excess of the premiums paid or current cash surrender value, provides the seller an immediate cash settlement. Similar to reverse mortgages, viatical settlements involve insured individuals with a life expectancy of less than five years. In countries with high health care costs (such as the United States), this is a practical way to pay extremely high health insurance premiums and other senior care expenses that severely ill people face. Some people are also familiar with life settlements, which are similar transactions but involve insureds with longer life expectancies (two to fifteen years). - From Wikipedia and other sources 5/2007Get Rich Slow Retirement Planning Seminar for Women Offered at Goleta Library
Goleta, CA (PRWEB) November 16, 2007 -- Due to longevity and socio-economic factors, women face much greater risks of declining living standards in retirement. To help women better prepare for retirement, Walpole & Co., LLP is offering a free class entitled Get Rich Slow at the Goleta Library on November 15th, 6:30pm. Advanced reservation is required at (805) 569-9864.
Women in general spend fewer years in the workforce and earn less than men do. Consequently, women enter retirement with much lower retirement savings and income. Women also live longer. Consequently, they have less income than men to stretch over a greater number of years. So, women face much greater risks of facing lower living standards or poverty in retirement.
Get Rich Slow is an interactive game that motivates women to become actively engaged in retirement planning. It targets the key impediments women face by providing hands-on education through a fun, non-threatening group experience. Women will get a clear overview of the financial planning process and their unique retirement income needs, and gain hands-on experience essential to feel confident in moving ahead.
Get Rich Slow was developed by the Center for Retirement Research at Boston College and the Education Technology Center at Northeastern University and was funded by the NASD Investor Education Foundation.
Walpole & Co., LLP will present the Get Rich Slow program as a part of its financial literacy efforts in the Santa Barbara and Goleta community.
About Walpole & Co., LLP Certified Public Accountants and Consultants:
Our company originated in Santa Barbara 33 years ago. Ever since, we have been serving individuals and businesses along the Central Coast--and beyond. We provide a range of tax, accounting and integrated financial services.
Who: Jean-Luc Bourdon, CPA/PFS
What: Free class titled: Get Rich Slow - Financial Planning for Women
When: Tuesday, November 15, 2007, 6:30 PM to 8:00 PM
Where: The Goleta Branch Library, 500 N. Fairview Avenue, Goleta
Contact:
Jean-Luc Bourdon, CPA / PFS
Walpole & Co., LLP
(805) 569-9864
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