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 | Affordable Senior Housing | 3/20/2009 | | This will announce a pledge of $10,000 to raise $1,000,000 in first round financing to build senior housing adjacent to Murphy Medical Center. This project is contingent, of course, on the ability to secure the land at a price which is financially feasible to make the deal workable. The project should NOT be built on the site where fill dirt is being brought in. That land has been observed to be under water, and the financial and other risks are too great to have the project there. Anyone interested in making the dream a reality should send me an e-mail through my website, or a one page letter, outlining their ideas and commitment. Richard H. Bagley, CLU, Suite 344, One Town Square Boulevard, Asheville, NC 28803. |
| Health Care/Financial Moves | 2/24/2009 | Health Care in Cherokee County
The national news reminds us daily anymore that the escalating costs of health care is the single most critical part of our economic crisis. There is no silver bullet for the national problem, nor is there one for Cherokee County. While we certainly want and are entitled to our share of the federal dollars through Medicare and Medicaid, the reality of the situation is that we are going to have to brace ourselves to contribute more personally and rely less on government. We can do that through volunteer work, contributions to our local foundations, and working to keep ourselves and our families healthy through diet, exercise, and a healthy life style.
Financial Moves to Make Now
A number of individuals with whom I talk are afraid to do anything in their financial planning. This is very understandable, given the current economic situation. But for some professionals, business owners, and families, today’s situation provides us with the opportunity to make decisions that will pay off down the road. Two that come immediately to mind are long term care policies and safe and secure annuities, some of which will pay a guaranteed first year return of 8.3%, with the option of locking in a guaranteed return after year one and/or participating in the market turnaround if one in fact occurs. These products offer a guarantee of no losses. Another smart move for many people is to take advantage of their good health and buy the appropriate long term care product. One company, John Hancock, offers a policy insuring the husband and wife in their mid-fifties with a pool of money of approximately $2,500,000 for a premium of $300 to $400 a month. For many couples, this action is an absolute must while they are still healthy.
Other actions may also be appropriate, so call 360-7425 and let’s discuss some of the options that you may find attractive.
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| Insurance Products, Strategies and Ideas for the Current Financial Crisis | 11/5/2008 | 1) Two excellent products are a fixed deferred annuity which guarantees 5.75% for five years, and an indexed annuity which guarantees 8.5% for the first year and 3% from then on to maturity, unless owner chooses to shift some to equities with a guarantee not to lose principal. Both have nursing home waivers and waivers at death which guarantee no early withdrawal charges.
2) Strategies include looking at your overall portfolio including insurance, investments, and current and planned taxes to maximize the benefit to you. Also, tax and estate planning should be considered in light of the election.
3) Ideas are to have seasoned, experienced professionals on your team who understand your current and future needs and will suggest products to you whether he/she sells them or not.
Call Rick Bagley on his cell 360-7425 to arrange a time when you and/or your family can study your options here. There is no charge for consultations, some of which have saved my clients tens of thousands of dollars based on what has happened recently in the markets.
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| Good News for MMC and Community | 11/3/2008 | Hopefully good news for Murphy Medical Center. After several months of groundwork with the local staff at an Asheville health care facility, and with the permission of the staff, I contacted the President of the publicly traded company about a proposed employee bonus plan to which I had been contributing money and ideas. His staff welcomed my contact and worked closely with me on the idea so that it will be now be implemented before Christmas. It would difficult to explain the happiness of some of the staff who had known for months I had been on their side in trying to make the facility better. The idea and the system are not new, and it can be easily implemented at Murphy Medical Center with the support of key leaders. With job cuts looming at MMC, this idea can be expanded to other areas of health care at our local hospital and some can be quickly implemented.
I am also working on a presentation for the President of this publicly traded company to bring to his attention the needs we have in the assisted living and Alzheimer’s area here in Cherokee County. A few of the local staff at Murphy Medical Center have told me about the needs there, both with respect to facilities and employee pay. One of the Murphy Medical Center staff told me that MMC needs three (3) times the space we have. A meeting was held recently to which about a dozen key community leaders were invited to present an overview about how facilities cost can be eliminated by approximately 30% using a funding technique that has been successfully implemented at heath care and education facilities for many years all over the United States. Follow up is being done.
Stay tuned, and be aware that I have apologized to a few of the people where my drive to bring quality health care (including desperately needed mental health care) to our area has stepped on a few toes. Some have reminded me, however, about the suffering that goes on while we wait for leadership and action. I cannot thank you enough for encouraging me to keep forging ahead. The literal “thumbs up” gesture some in the community have given me has a value beyond words.
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| Under Revision | 10/29/2008 | | This entry under revision |
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