(Newswire.net — June 16, 2017) Fayetteville, New York — Healthcare costs are one of the largest expenses retirees may face after their careers are over. Despite the advice of retirement planning professionals across the country, many people overlook healthcare expenses when funding retirement accounts. Alec Hoke, a note investment adviser and financial professional with over two decades in the field, knows that retirees often put too much faith into government programs. “Many people planning for their retirements expect programs like Medicare to cover health expenses,” says Alec. “The truth is, Medicare and similar programs are insufficient to cover the expenses most retirees will face.” To learn more about Alec’s experience in the retirement planning field, visit https://www.linkedin.com/in/alec-hoke-59915996.
Part of the problem is that life expectancies have risen over the past thirty years. Retirees will live longer, resulting in longer periods of time when healthcare expenses will need to be covered. Medicare benefits can only go so far; in fact, according to several studies, it is estimated that Medicare will only cover about half of expected medical expenses over a retiree’s lifetime. Average healthcare costs for someone retiring at age 65 are estimated at $245,000. Retired couples may need as much as $10,000 to $12,000 in additional coverage each year to account for shortfalls not covered by Medicare. Although there are companies selling so-called “Medigap” coverage, most retirement planning professionals prefer variable annuities to meet the challenges of healthcare expenses. Annuities provide lifetime income and are part of an overall retirement strategy that includes mutual funds, stocks and bonds, real assets, and other savings accounts. “Variable annuities offer great tax advantages for retirees as well as helping account holders weather the potential volatility of traditional investment products,” says Alec, who serves as the Principal at Beacon Wealth Strategies, LLC in New York. “Financial professionals can help those planning for retirement to develop a set of products that work for future expenses like medical care as well as for other retirement goals like travel and leisure activities.”
Alec Hoke has been helping both individuals and business clients make smart investments for many years. He has worked as an investment adviser, assisting clients with reaching their long-term investment goals. One of his many financial specialties is developing unique investment strategies that optimize retirement income by taking advantage of tax shelters and overcoming plan limits. For more information on Alec and his work in the financial industry, visit https://www.crunchbase.com/person/alec-hoke.
About Alec Hoke
Alec Hoke is an investment professional who has worked with private individuals and corporate clients during his long career in the financial industry. He has amassed over two decades in the field of financial investment services, making him a leading voice among financial advisers. Alec currently serves as Principal at Beacon Wealth Strategies, LLC, in upstate New York. Prior to his work at Beacon, he worked as an investment adviser with First Allied Securities, Inc., a Registered Broker/Dealer.
Alec Hoke
11 Thornwood LaneFayetteville, New York 13066
United States
(315) 637-3598
info@alechoke.com
https://www.houzz.com/pro/alechoke23/alec-hoke