What non-market risks do I need to consider?

As your trusted financial advisor, we at RCL Advisors, LLC strive to focus on every risk that can derail your financial plan. This includes not only the risks associated with the capital markets, but other financial risks which can destroy wealth. For instance, gaps in your liability insurance coverages, underinsured property, and/or casualty exposures can create a potentially large loss. We will be happy to perform a comprehensive review of your insurance policies to ensure that your excess liability (umbrella) insurance coverage deductibles are properly coordinated with your underlying homeowner’s and auto policies’ liability coverages. We want you have the amount of coverage you desire in order to manage your property and casualty loss risks cost-effectively. 

In addition to your property and casualty insurance, we can assist you in determining how much life insurance you need and whether permanent or term insurance best meets your needs. We will be happy to assist you in selecting a specific life insurance product and managing any investment choices as well. We can also assist you in considering the benefits of purchasing long-term care insurance for you and/or your spouse. Our duty is to find a plan that best fits your needs. 

Other non-market risks you may face include obligations to your extended family.  We can assist you in determining what steps you could take now to reduce the financial burden of important items such as caring for elderly parents and/or any special needs children or grandchildren. We attempt to identify every risk you face and develop a plan to mitigate them to ensure you stay on track in meeting your objective and maintaining financial independence.