Mountain Views News          Saturday, November 29, 2014

B3

 

BUSINESS NEWS & TRENDS

Mountain Views-News Saturday, November 29, 2014 

FAMILY MATTERS By Marc Garlett


BUY, SELL, WIN, WIN 

Buyers, sellers, the time for hesitation is over for 
both of you. Home sales are rising, inventories 
are shrinking, and even though home values fell 
dramatically in the last few years, the good news 
is that houses are now more affordable than they 
have been at any time during the last twenty years. 

If you are buying, now is the time to make your 
move, literally. As the market recovers, the scales 
are still tipped in your favor. There are still many 
Òdistressed propertiesÓ (foreclosures and short 
sales) on the market, and other homeowners are 
entering the selling field as improving conditions 
increase their confidence. 

 You can still expect competition for lower end, 
entry-level homes, but demand is softer in the 
middle to upper end property market, so you could 
be in a stronger bargaining position in those two 
tiers. 

 If youÕre a seller, donÕt be alarmed by the good 
news for buyers. Buyer confidence and strength 
makes it more likely that youÕll enjoy a sale. DonÕt 
try to compete against short sales and foreclosures 
when youÕre pricing, though, because thatÕs a tough 
game to win. 

 Just complete any needed repairs, get your home 
into great showing condition, and emphasize 
your homeÕs strengths and features. WeÕre in an 
interesting transitional phase where both buyers 
and sellers can be winners with the right attitude 
and representation.

HOW TO REDUCE THE COST OF 

LONG-TERM CARE INSURANCE

This Thanksgiving holiday, as multi generations of my 
family gather together, I canÕt help but reflect on the 
lifetime of love and support my parents have provided 
to me and my children. IÕm also very aware of their 
own special issues. Did you know, a person who turns 
65 today has a 70% chance of needing some type of 
long-term care at some time in their remaining years? 
ThatÕs according to the U.S. Department of Health and 
Human Services and on average, women will need 3.7 
years of long-term care while men will need 2.2 years of 
care. Only 20%, however, will need care for longer than 
five years.

 If you or your parents donÕt have the financial 
resources to pay for this long-term care - either through 
a nursing home stay or in-home care - you should 
consider long-term care insurance to fill the void. And 
while annual premiums will vary according to your age 
and health status, they can all be fairly expensive. 

Here are some tips to reduce the cost of long-term care 
insurance:

 Buy young. Since premiums rise as you age, 
purchasing a long-term care policy when you are 
younger can mean cheaper premiums. Just be sure you 
are aware that premiums can increase as you age, so be 
sure to discuss this with your insurer.

 Shorten the benefit period. Lifetime policies are the 
most expensive, and since statistics show that most of 
us will not need long-term care for more than five years, 
you can save thousands of dollars in premiums if you 
buy a short-term policy.

 Lengthen the elimination period. Most policies 
have a 30-90 day waiting period before coverage begins. 
If you can make this period longer, your premiums will 
be cheaper.

 Reduce daily benefits. If you can pay for some of 
your long-term care needs yourself, you can reduce the 
daily benefit amount on your policy, which will result in 
lower premiums.

 Share the care. If you are married and both of you 
are buying long-term care insurance, a shared care 
policy could provide you both with more coverage for 
less money. A shared care policy provides a pool of 
benefits that are shared between you and your spouse, 
so if you buy a 5-year shared care policy, the two of you 
would have 10 years of benefits. If your spouse only uses 
3 years, you would have 7 years of benefits to use.

 Take the deduction. Your long-term care insurance 
premiums may be deductible. If they meet the 
requirements for ÒqualifiedÓ long-term care expenses, 
they can be deductible, with the amount depending 
on your age and tax year. For 2014, the long-term care 
premium deductibility limits are $1,400 for those more 
than 50 but not more than 60, $3,720 for those more 
than 60 but not more than 70, and $4,660 for those over 
70.

 To learn more about long-term financial planning 
for your Ð or your parentÕs Ð golden years, give me a call 
and letÕs chat over a cup of coffee.

To you familyÕs health, wealth, and happiness,

 

A local attorney, father, and CASA volunteer (Court 
Appointed Special Advocate for Children), Marc Garlett 
is on a mission to help parents protect what they love 
most. His office is located at 49 S. Baldwin Ave., Ste. G, 
Sierra Madre, CA 91024. Call 626.355.4000 to schedule 
an appointment to sit down and talk about ensuring a 
legacy of love and financial security for your family or 
visit www.GarlettLaw.com for more information.


EMAIL SUBSCRIBER OR A FACEBOOK LIKE?

I recently read an article that asked, ÒWhich do you 
think is more valuable to your business, someone who 
subscribes to your email list or someone who likes your 
Facebook page?Ó If I had to choose, it would be the 
email subscriber every time!

 Facebook, Twitter and LinkedIn are still important 
channels for staying in touch, sharing information, 
photos and finding a targeted audience. They can even 
help people find your products and services on-line. 
The goal is to get your fans, followers and connections 
to join your email list because email marketing content 
outperforms social media when it comes to the results 
we care most aboutÉsales. 

 There is a lot of buzz about Facebook right now. People 
are disappointed that their content is not reaching and 
engaging like it once did. I think the problem brands 
need to solve on Facebook is innovative ways to get fans 
to subscribe to their email list. Sometimes itÕs as simple 
as asking in a post, ÒJoin our email listÓ with a link. 
Letting them know how often and what to expect when 
they join will help too. Build the list, build the list, build 
the list.

 About MJ: MJ and her brother David own HUTdogs, 
a creative services business that specializes in Internet 
Marketing strategies and Social Media. They offer 
social media management services and help their 
clients build a strong on-line presence. ÒLikeÓ them on 
Facebook for trending news in social media, internet 
marketing and other helpful tips, www.facebook.com/
hutdogs.

 Sign up for their upcoming classes, webinars and 
presentations at: www.hutdogs.com/workshops/
schedule 


Mountain Views News 80 W Sierra Madre Blvd. No. 327 Sierra Madre, Ca. 91024 Office: 626.355.2737 Fax: 626.609.3285 Email: editor@mtnviewsnews.com Website: www.mtnviewsnews.com