May 14, 2019
This episode of The Confident Wealth Podcast with Bill
Bush and Pete Bush continues on as the 5th installment in their
series, The Value of Working with an Advisor. Learn more about the
inherent risks we have, and how we can manage them from a financial
- 01:56 – How does insurance come into play with life and death
- 02:40 – What are you doing to manage your downside risk?
- 04:05 – There is a cost to waiting too long for insurance.
- 05:56 – Bill Bush shares a personal insurance story.
- 07:05 – Why do some folks underestimate their insurance
- 08:52 – How does an advisor go about managing inherent
- 10:19 – Usually there are financial incentives to get insurance
- 11:27 – Motivate clients to take actions on steps towards their
- 13:01 – Focus on the difference between the cost of the
insurance premium and
- the cost of the problem.
3 Key Points:
- The cost of the solution is always a fraction of the cost of
- Evaluate your need to find potential solutions for it.
- The steps for an advisor to manage a client’s inherent risks
include: full analysis, figure out what is already in place, see if
there are any gaps that need to be filled, keep reviewing, and
- “Life is going to happen. Thus, death is going to happen too.
And of course, that can leave a big financial hole in a family or a
business.” – Bill Bush.
- “It’s important to separate out the cost of the problem from
the cost of the solution – Pete Bush.
- “You should monitor your beneficiaries, kind of review that,
maybe in an annual review with an advisor.” – Bill Bush.