Securing Your Income

At Steward Advisors we can help safeguard your financial well-being, going beyond investments to help you manage income risks. Here's how we act as your partners in securing consistent income and mitigating potential disruptions:

Analyzing Your Income Risks

We will collaborate with you to help identify income threats: This includes job loss, disability, illness, market downturns, and economic recessions. We’ll estimate the financial impact of each risk based on your profession, industry, and financial situation.

Building Income Protection Strategies

We can help you build a robust emergency fund to cover expenses during temporary income disruptions and explore disability insurance to protect your income in case of a serious illness or injury.[DB1] 
Depending on your family situation, we’ll also discuss life insurance options to protect dependents financially and collaborate with any insurance specialists you work with.

Recommending retirement savings strategies. We’ll help ensure your retirement contributions and investment choices consider potential income gaps in later life.

Structuring emergency withdrawal strategies. As a last resort, we can help guide you on accessing retirement funds responsibly for emergencies while minimizing tax implications.

Remember, income protection is an integral part of overall financial security. By working together, we can build a comprehensive risk management plan that safeguards your income, secures your lifestyle, and allows you to face potential disruptions with peace of mind[DB2] .

Navigating Healthcare Uncertainty

Healthcare costs are rising, and unexpected medical needs can wreak havoc on your finances. Steward Advisors isn’t just about investments; we can be invaluable partners in mitigating healthcare-related risks. We can help:

Evaluate current health insurance coverage: We can help assess the adequacy of your existing plan in terms of deductibles, premiums, and covered services and work closely with any insurance specialist you may work with.

Project estimated healthcare costs: Based on your age, location, and health status, we can create a personalized model to understand potential lifetime medical expenses.

Discuss Health Savings Accounts (HSAs): These tax-advantaged accounts allow you to set aside money specifically for qualified medical expenses, maximizing savings and potential growth.

Explore Long-Term Care Insurance (LTCI): We can guide you in deciding if LTCI is necessary based on your risk profile and preferred level of coverage for future care needs.

Integrate healthcare costs into financial planning: We factor healthcare expenses into your overall financial plan, ensuring future needs don't derail other financial goals.

Compare Medicare supplement plans (Medigap): These plans can help cover gaps in basic Medicare coverage, reducing out-of-pocket expenses.

Remember, your healthcare needs are unique. Steward Advisors offers personalized guidance and support in building a comprehensive risk management plan that incorporates your specific health situation, financial goals, and risk tolerance. Regular discussions and plan adjustments ensure your strategy remains relevant and protects your financial well-being throughout your life.

Property and Liability Risk

Steward Advisors can be a valuable partner in mitigating property and liability risks. By understanding your assets and risk tolerance, we can recommend appropriate property and casualty insurance coverage. This could include homeowners or renters insurance, flood insurance, or umbrella/specialty policies. Steward Advisors can also help you review existing policies to ensure they provide adequate protection and suggest adjustments as your life circumstances change.

  • Assess risks and recommend insurance: We’ll identify potential threats to your property and recommend the right insurance types for your needs.
  • Review existing coverage: We’ll analyze your current policies to ensure they offer sufficient protection and suggest adjustments if necessary.
  • Advise on changing needs: As your life evolves, we’ll help adapt your property and liability coverage to keep pace with your circumstances.