Considering the troubling economic consequences of the coronavirus pandemic, the Financial Planner at Liberty Financial Services said there is no better time for area residents to consider their own financial future and to take steps to ensure they and their loved ones are on solid footing.
Whether planning for college, making sure their families are provided for through life insurance, or determining retirement goals and next steps, Gary Wallberg CFP®, Liberty National Bank/Liberty Financial Services Vice President said the organization is here to help. He is also a Registered Representative of Infinex Investments, Inc.
As a Certified Financial Planner™ practitioner, Wallberg is available to meet with clients via in-person appointments at Liberty National Bank’s main Bellefontaine location, 1120 N. Main St., or other convenient locations. Liberty Financial Services is a subsidiary of Liberty National Bank that offers access to financial planning services, and funding for individuals’ long-term financial goals.
“We’re located close to home, in the branch where people are already comfortable,” he said.
While Wallberg said he joined the Liberty Financial Services team in June of 2019, he has worked in the financial planning industry for 27 years. Despite the recent uncertain times, he said one of the illustrations he often uses with clients relating to the importance of moving forward with financial planning is an image of a peaceful SWAN floating on a body of water – an acronym standing for “Sleep Well At Night.”
“That is one of our goals as financial planners – to help individuals so that the financial piece of their lives is not a struggle and doesn’t keep them up at night,” he said.
“Clearly things changed in financial markets dramatically and rapidly. These types of situations can sometimes create a sense of angst for folks. I’m here for you, to talk through your situation.”
He also urged individuals not to get anxious regarding their retirement investments, which should recover over time.
“I anticipate we will see some continued volatility, both up and down, in the markets. Some days will have good news which can cause large gains, and some days there will be not so good news, which can cause steep losses. Please try to not watch daily. The yo-yo effect on emotions makes it more difficult.”
For individuals who are within five years of retiring or those individuals who are retired, Wallberg said this is a crucial time for planning and financing the “what’s next” in their lives.
“After folks have worked somewhere for 30 or 40 years, they are used to their daily routine and going to work every day, but we want to help them plan out and finance what they’d like to pursue next and the types of activities they’d like to take up in their retirement.”
Another important aspect of planning for retirement Wallberg said is looking at long-term care insurance, both for themselves or for aging parents. Individuals who are in their 50s and 60s can often times secure lower rates that can provide them with a peace of mind for the future to help pay for in-home care, assisted living or nursing home care if those services are needed.
Wallberg related that his family personally experienced the benefits of the long-term care insurance program for his mother and stepfather, who years ago had attained this insurance coverage with his encouragement. More recently, his mother and stepfather needed to move forward with this type of long-term care, and it was helpful for his family in Central Ohio to know the older couple was being well-taken care of in Chicago, he said.
“They didn’t have to choose between draining their assets and moving to a place where they would be looked after and kept safe,” he said of his mother and stepfather. “My family is an example of why this type of insurance is so important.
“I’ve taken the time to get to know this area of expertise very well. Many times, we can make it so that it’s not just an expense that comes out of your wallet, make sure that it’s an affordable and worthwhile option.”
In addition to those planning for retirement, Wallberg said Liberty Financial Services can assist customers who want to begin building college funds for their sons and daughters, along with setting up life insurance plans that best fit clients’ needs.
To set up a financial planning appointment with the Certified Financial Planner™ practitioner, contact the north Main Street office at (937) 592-5688, south Main Street location at (937) 593-9694, or connect with Wallberg via the program’s Financial Planning page, gwallberg.
Securities offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Liberty Financial Services is a subsidiary of the bank. Infinex is not affiliated with either entity. NOT A DEPOSIT…NOT FDIC SECURED…NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY…NOT GUARANTEED BY THE BANK…MAY GO DOWN IN VALUE.