Services for Individuals
Harvey Alberg largely works with individuals and families preparing for or living in retirement. These clients aren’t looking to take a lot of risk with their assets and, instead, want to preserve and develop strategies that may help their wealth outlive them.
Working with clients across the greater Boston area, Harvey focuses on a comprehensive planning process so that he may identify a client’s entire financial picture, including where he or she is today and where he or she wants to be tomorrow. Enjoying the challenge of solving puzzles, Harvey seeks to develop strategies that may suit a client’s individual needs.
Harvey works with clients in all phases of retirement planning, from building assets to transitioning into retirement to maintaining an income in retirement. Harvey works with clients to identify opportunities for building wealth while employing conservative investment strategies. This ranges from contributing to a 401(k) plan to identifying appropriate IRA investments, mutual funds, and annuities. As clients transition into retirement, Harvey can offer advice on when to take Social Security, how to minimize taxes, and how to create a steady income stream. For clients living in retirement, Harvey can help develop strategies for maintaining a consistent income, along with estate planning, how to avoid unnecessary taxes, and ways to protect one’s family from high healthcare costs and other risks.
Preserving wealth and transferring an estate to family and heirs can be complicated and confusing. One of the biggest misconceptions is the notion that only the affluent need an estate plan. However, every family and individual has an estate, from a home and car to bank accounts, investments, and life insurance. Regardless of how large one’s estate is, it’s critical to plan what will happen to it upon one’s death. If an estate plan isn’t set in place, one’s wishes may not be carried out, as the estate will be transferred to the state to handle according to probate laws.
Harvey seeks to demystify the common misconceptions of estate planning, assist clients in articulating their estate planning needs, and coordinate the work of other professionals who may be needed, including attorneys and CPAs. Whether a client wishes to use a trust or other method, Harvey can offer guidance regarding today’s confusing estate and tax laws.
Life insurance offers a way for someone to protect their family in the event of an unforeseen death. Today, there are multiple life insurance options, including term, whole, and universal. These different types are selected by families and individuals based on their short and long term goals. Harvey assists clients with identifying efficient and cost-effective programs. Additionally, he can help clients determine the benefits of optional riders that may help cover other situations in the future, like long-term care and critical and terminal illness.
Long-Term Care Insurance
Most health insurance plans don’t cover daily, extended care services and Medicare only covers short stays in nursing homes or limited at-home care under strict conditions. For these reasons, many individuals and families seek long-term care insurance as a way to cover potential long-term care expenses. Policies offer many different coverage options and prices are based on a number of factors. Harvey can assist clients to determine their objectives and identify plans that may best suit their needs.
If you weren’t able to work due to an injury or illness, how would you make up for that lost income? Most individuals and families would have to draw from their savings or other accounts. Disability insurance can help protect one’s financial future and provide a replacement income for a certain amount of time. Harvey can help clients identify appropriate disability insurance options, including levels of coverage and premiums.