People face many challenges in everyday life, with three of the most significant being personal finances, healthcare, and— for business owners—the successful management of their business.

Finance - 4 risks to wealth

• Longevity - People are living longer, meaning retirement savings must stretch over decades. Without careful planning, there’s a risk of outliving your money.

• Inflation - High inflation steadily erodes the purchasing power of your money, reducing the real value of savings. For retirees on a fixed income, this can be especially damaging

• Market Risk - Economic swings, geopolitical events, and sudden downturns can quickly erode wealth, creating uncertainty about your financial future.

• Tax Risk - Taxes on income, investments, and estates steadily reduce wealth, making strategic tax planning essential to preserve more of what you earn.

Healthcare

• High Premium - Healthcare premiums continue to rise, making medical coverage a major ongoing expense that can strain retirement budgets.

• Selecting Plan - With countless health plans for individuals, families, and seniors—each with complex terms, coverage rules, and cost structures—understanding the options can be daunting. For many, selecting the right plan feels overwhelming and confusing.

• Significant Share of Cost - Even with insurance, deductibles, co-pays, and uncovered services can add up quickly, impacting overall financial stability.

• Long-Term Care - Long-term care needs have reached epidemic proportions in this country, yet neither health insurance nor Medicare provides coverage. As a result, individuals must either self-fund these costs or obtain separate long-term care insurance.

• Healthcare expenses are the leading cause of bankruptcy in the country.

Business

• Between economic uncertainty, political shifts, rising costs, and the ongoing turmoil in the insurance industry, running a business has never felt more unpredictable. Premiums are climbing, carriers are tightening restrictions, and what once worked may no longer offer the protection — or value — your business needs.

• Running a small means managing many moving parts—and workers’ compensation insurance is one of the most important, and often most expensive, pieces of the puzzle.