Month: September 2023
Long-term Care Planning for The LGBTQ+ Community (Ep. 12)

Long-term Care Planning for The LGBTQ+ Community (Ep. 12)

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As we age, the need for care and support becomes more pronounced, but for LGBTQ+ older adults, this journey can be marked by unique challenges.

What are the right steps we can take for a secured future?

In this episode, Tim Volk explores the intricacies of long-term care and aging, emphasizing the importance of planning for the future. He also gives surprising statistics about the challenges faced by LGBTQ+ older adults in long-term care facilities. Additionally, Tim highlights the power of insurance in providing financial security and peace of mind and the need for risk management.

Tim discusses: 

  • The concerns and actions needed to address the rising costs of long-term care
  • The concept of Blue Zones, areas where people live longer, and the common factors among them, such as a sense of community and taking care of each other
  • The difficulties faced by LGBTQ+ older adults
  • The different types of long-term care insurance coverage
  • The idea of creating a communal living situation or support network within the LGBTQ community
  • The cost-benefit analysis of insurance and how it protects individuals and those around them
  • And more!

 

Resources:

 

Connect with Tim Volk: 

 

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How Financial Planning Can Benefit The LGBTQ+ Community With Ben Galloway (Ep. 11)

How Financial Planning Can Benefit The LGBTQ+ Community With Ben Galloway (Ep. 11)

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A large portion of the LGBTQ community is reluctant to go to an advisor because they’re afraid of having to talk about their lifestyle. How can the LGBTQ+ community benefit from financial planning?

In this episode, Tim Volk introduces Ben Galloway, CFP®, a Senior Financial Advisor in Greenspring Advisors’ Private Client Group. They talk about the importance of financial planning for same-sex couples and the LGBTQ+  community. Ben shares his career journey and how he found his passion for providing support and guidance in financial decisions. They also talk about the challenges faced by the LGBTQ+ community in terms of financial planning and the need for peace of mind, starting a family, and retirement and caregiving. They emphasize the importance of estate planning and the need for professionals who understand the unique challenges faced by LGBTQ+ individuals. They also touch on the importance of asking the right questions and seeking advice from trusted advisors.

Tim and Ben converse about: 

  • What they love most about being financial advisors and part of the LGBTQ+ community
  • Ben’s personal story that has led him to the work he’s doing
  • Why financial planning is important for the LGBTQ+ community
  • Why members of the LGBTQ+ community are less likely to use financial planning tools and are reluctant to go to an advisor
  • How working with financial professionals can help protect you from the unexpected
  • The key “aha” moments Ben has had in his work
  • The advice Ben wishes to share with anxious clients as they walk through the door
  • What’s up next: EQ vs. IQ,  and the new technical aspects of financial planning
  • And more

 

Resources:

References:

Connect with Tim Volk: 

Connect with Ben Galloway: 

About our Guest: 

Ben is a Senior Financial Advisor and CFP® in Greenspring Advisors’ Private Client Group.  Ben’s practice focuses on serving the financial planning needs of business owners and executives, especially related to sudden wealth and intergenerational wealth transfers.  His work includes a special emphasis on the unique needs of same-sex couples and other members of the LGBTQ+ community.  Ben works with clients to develop financial, tax, and estate planning strategies specific to complex wealth needs, including concentrated stock, real estate, buy-sell agreements, and charitable giving.  An enhanced and remarkable client experience through exceptional service is pivotal to Ben’s practice.  Whether it is helping clients sell a business, plan for retirement, save for college, or start a family, Ben prioritizes an educational and evidence-driven investment and planning approach.

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