You got me Rocking!
Recently a friend had an extra ticket to see ZZ Top. Of course, being a big Live Music fan, I went with! One of the others with us started talking about seeing some “72-year-old guys” on stage and how he had low expectations for his evening. Then my friend made an interesting statement: “if you told me years ago, I would be listening to a new release from Tom Jones in 2021, I would never have believed you.
I find it all inspiring and ‘awe’ inspiring”.
Billy Gibbons the lead singer of ZZ Top “kept us rocking” for about 90 minutes. He was without founding member Dusty Hill (who died 5 days later). They had a backup and yes, he too has a long beard. About a half hour into the concert, I asked the skeptic what he thought and “pleasantly surprised” was his response. ZZ Top you’ve kept us rocking since 1969!
Tom Jones just released his 41st studio album in April at the age of 81. I had a chance to listen to the album and not only are there are several strong songs, but his voice also continues to hold strong. A few other items came up regarding our “old rockers” conversation. The Rolling Stones will take the stage on a short stadium tour in September. Charlie Watts (age 80) who started his career the year I was born, will not be with them due to a recent undisclosed medical procedure. Mick is 78, Keith is 77, and the youngster in the group being Ronnie Wood is 74.
Then something truly amazing came up. Tony Bennett is performing two nights this month with Lady Gaga. This is to celebrate another collaborative album being released from the two along with his 95th birthday! Turns out Tony has been suffering from Alzheimer’s for more than 4 years. Per the story from AARP, he doesn’t function very well these days but has an extraordinary ability to still remember lyrics and sing like days of old. Learn more via the below link.
Tony Bennett’s Battle with Alzheimer’s
Tony has a team and deep financial resources to help him with his illness. Few of us will be so well cared for if we need help later in life. It is important to have a plan for ourselves and our clients. We need to know “who will care for us” and “how we will pay”.
Long-Term Care Educational Resources
Below are links to two articles that can help you have a strong conversation about long-term care planning with your clients. We provide stats and key questions for you to discuss. If your clients are interested in learning more, I have included a video discussing the different insurance options available today.
LTC Planning – Taking the First Step
LTC Planning – Exploring the Options
LTC Planning – Exploring The Options (VIDEO) (Password: IICLTCi | Link expires 12/31/21)
The Value of Life
One way to insure for long-term care is through a life insurance policy with a rider that allows access for chronic illness situations. There are many ways life insurance can add value to a client’s financial plan. Life insurance has unique tax advantages and with expectations of higher income and estate taxes, it might be a wise addition providing liquidity, income tax deferral and tax-free proceeds.
Interested in learning more about the value of life, read our recently published article in the May 2021 Issue of NAPFA Advisor.
Rethinking Life Insurance at All Levels of Net Worth
Hopefully you find some of the above inspiring. What will you be doing at the age of 72, 81 or 95?
What will you and your clients be doing if care is needed?