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Show May % 2010 (cont'd) May 16, 2010 f*- From "Valuable Asset" page 2 your disability payments will be subject to taxes. Additionally, group disability income coverage is not "portable" should you change employers. In' other words, "you can't take it with you.", if you change jobs. An answer to the above is the purchase of additional individually owned coverage to help cover the shortfall. By no means has this been meant to be an exhaustive explanation. Hopefully, you have now become better informed to discuss with your advisor, your individual situation. In turn he or she can assist you with fitting disabil ity income insurance into your financial plans. One last thought: "It is better to have a disability policy that you don't need, than to need one you don't have." ^^^^^^^^™ How Valuable is Your Income? Retirement age Minus current age = number of working years until retirement X annual income = economic value of income Example Retirement age Minus current age = number of working years until retirement X annual income ^^ = economic value of income A very valuable asset! Chantland 65 30 35 $60,000 $2,100,000 Chantland Lawrence Alvin Chantland was honored for his 80th birthday on May 15 with a celebration at the park behind the Marriott- Slaterville city offices. .^_^_i^^J The seventh of 11 children, he was born on May 14,1930, on a farm in Badger, Iowa, to Carl and Cora Chantland. He farmed for three years in Iowa and then joined the U.S. Air Force on Jan. 26, 1952, serving 20 years. He also served with Air Force One, the 89th Military Airlift Wing at Andrews Air Force Base in Maryland. He later worked for civil service at Hill Air Force Base for 20 years. He is now a full-time husband, father and grandfather. He enjoys creating wood work and keeps busy supplying his family with his creations. He married Marlys Ann Phillips of Des Moines, Iowa, in 1957. They had three children: Diane McLean, Debra Streets and David Chantland. They were later divorced. In 1972, he married Loa Searle of Slaterville and gained six daughters: Chris Peterson, Bonnie Olsen, Marie Porter, Kathy Russell, Tracey McKissen and Terry Hawkes. All together, he has 35 grandchildren and many great-grandchildren. One granddaughter, Morgan Chantland, was born on his birthday. Bart Spencer Horizon Financial Happy Birthday 193 |
