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If you have seen your property and casualty insurance premiums rise significantly over the past several years, you are not alone. Across the United States, coverage for homes, autos and valuable collections have increased at a double-digit pace. Unfortunately, few families can expect any moderation in the coming year, particularly those in higher risk “Cat-rated” areas. Affluent homeowners in Florida, California and several other states can expect to see premium increases of at least 20% and may also have to accept more restrictive coverage terms. Others may even have difficulty securing coverage at any price.1 Against that backdrop, here are some answers to questions you may have about the cost and availability of coverage to protect your family, your home and your possessions. Presented here is an article by HUB International, republished by permission. Consult your insurance professional to discover why it’s happening, what to expect and how to minimize...
08.15.2023
The cost of a college education is typically the first great expense a young person encounters. According to the Massachusetts Educational Financing Authority (www.mefa.org), an average in-state public college will run roughly $24,000 for the 2023-2024 year and a little more than $100,000 for a four-year degree. Meanwhile, the average private college will cost about $55,000 for a starting freshman and could total more than $230,000 over the course of four years. Herbert Stein, an American economist, famously said, “If something cannot go on forever it will stop.” The growth of college costs will peak at some point and then recede; when that will occur is much more difficult to predict. Until that time, we will address circumstances as they currently are—how to finance this significant expenditure and how to view saving for college as a wealth transfer strategy. For the purposes of this piece, we will assume that our future...
