In the Media

Articles

"Couples need to make sure they talk through any issues that come up and find solutions acceptable to both."
"“Start saving now, not tomorrow. Time is something you cannot get back, and the longer you save, the better..."
"Life insurance is a keystone to proper risk management and needs to be addressed, the sooner the better..."
"Don't wait to have this conversation. You and your spouse should plan an evening to discuss how the household finances will change should one of you pass away..."
"I think a lot of people feel that credit unions are smaller because they are more member-focused, but credit unions can be just as powerful as banks," says Jay Ferrans, president of JM Financial & Accounting Services in Southfield, Michigan..."
"Above all else, "be honest," Ferrans said. "Financial secrets are a great way to torpedo any relationship."
"Make sure the insurance company being offered has a large footprint in this particular type of policy. If it is a sideline business for the insurance company, you may want to look elsewhere..."
"Jay Ferrans, president of JM Financial & Accounting Services in Southfield, Mich., suggested that boomers start thinking now about how and when to transfer their assets and seek professional assistance to navigate the often complex rules..."
"Taking Social Security as soon as you can may feel good but may prove to be short sighted for your future," says Jay Ferrans, president of JM Financial & Accounting Services in Southfield, Mich..."
“Life insurance is very needs-based,” says Jay Ferrans, president of JM Financial & Accounting Services in Southfield, Mich. “If you don't have a need for it, letting it go is the right thing to do. Use those dollars for something else..."
“The problem is best expressed by the old saying “don't put all your eggs in one basket, ” says Jay Ferrans, president of JM Financial & Accounting Services in Southfield, Michigan...
His advice: “Seek out professional assistance from a financial planner well-versed in Social Security...”
"I never advise a client to take on more risk than they're comfortable with," Ferrans says. "This is a plan for disaster..."
"When you're young and accumulating assets for retirement, the ups and downs of the stock market have a much smaller impact," Ferrans says, but when you're older and taking withdrawals in retirement, that can lead to problems if you're not prepared...
“Nobody plans to die,” Ferrans says. “But when you do, and you leave a family, and you don't have any life insurance because you wanted to put a deck on your house, turns out that wasn't a good decision. You really need to prioritize what's important in your life...”
“Someone who has recently gotten divorced has just been through a life-changing event that will have a significant impact on all areas of their retirement planning,” says Jay Ferrans, president of JM Financial & Accounting Services in Southfield, Michigan...
“One big surprise for many people is when they have a condition like rheumatoid arthritis,” says Jay Ferrans, president of JM Financial and Accounting Services. “Though it does not reduce life expectancy on its own, many of the medications used to treat it have a negative impact that can drive up premiums..."

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