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Barbie financial advisor? Not quite, but she may want to speak with one

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Barbie financial advisor? Not quite, but she may want to speak with one -

If you followed the celebrity gossip pages recently, you could not have missed all the news about Barbie and Ken. It's been a busy year for a favorite dream couple in America. Day of this past Valentine, Ken Barbie wooed with success in his arms after seven years apart, all it took was a multimillion dollar advertising and social media campaign, a makeover Justin Bieber and inspiration a role alongside his leading lady in Oscar -nominated feature. And this month, Ken turned the big 5-0. Although they look as if they are still young, Barbie and Ken are approaching their golden years and this step comes a new set of financial considerations that are important to them to think about, especially before they married.

We thought we'd have fun thinking about some of the difficult questions Ken Carson and Barbara Millicent Roberts would need to meet before co-mingling their finances (and if they were real, of course):

is it the dream home or Barbie glam convertible still necessary now may be the time to downsize in favor of modes smaller life that are more manageable and offer greater accessibility? . If they are not willing to give up the convertible immediately, they may want to think of at least adding a more practical vehicle in their fleet. If you consider only the cabinets they have both, it may be time they think of repositioning assets to be more cautious in their spending.

How long have they each want to continue working? With Toy Story 3 Barbie and Ken films in the career seems to have taken off, but they still have to ask how long they plan to earn a living verses living off the assets they have accumulated. What income they need to support their lifestyle jet set? They continue to act or take one of the many other careers that they have touched (ala veterinarian Barbie Barbie or dentist), a figure that will help them to target the amount of investment savings they will need to have to support the lifestyle they 've become used to.

are they protected by long-term care insurance? If they do not have long term care insurance, the time has come for Barbie and Ken to consider it - while they are relatively young and healthy. Getting married at age 52 and 50, respectfully, is another reason to think about the coverage. Barbie and Ken will most likely be each other primary caregivers if one of them becomes ill or disabled in the future. Long-term care insurance will ensure that they receive the type of care they will want and need without financial or physical burden on another. If God forbid the marriage does not last (perhaps Barbie meets another Blaine), insurance will also provide critical protection should they ever need to divide their assets.

Who are their successors? From Barbie and Ken are not children, they should think about who they will gift or transfer their property assets once they are gone. While things are fun to think, wills, power of attorney and health directives are all important things to work out now so there is no confusion later among friends and relatives.

Of course, these are just some of the many financial considerations Barbie and Ken as they will officially begin their life together. What other things do you think they should keep in mind?

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