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Featured guide · Interactive

The Social Security & Medicare field guide

Claiming ages, spousal benefits, Parts A through D, and the enrollment windows that penalize hesitation — six chapters you can turn like pages.

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Guide Nº 2 · Interactive

The Medicaid & long-term care field guide

Who actually pays for care, the five-year look-back, what you can keep, and the spousal protections — six chapters you can turn like pages.

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Guide Nº 3 · Interactive

The life insurance field guide

Term versus permanent, the needs method for sizing coverage, riders worth having, and the beneficiary form that quietly outranks your will.

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Guide Nº 4 · Interactive

The retirement income field guide

Three tax buckets, rollover choices at a job change, sequence-of-returns risk, the withdrawal order, and where required distributions land.

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Guide Nº 5 · Interactive

The disability income field guide

Own-occupation versus any-occupation, elimination and benefit periods, what group coverage leaves out, and why who paid the premium decides the tax.

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Guide Nº 6 · Interactive

The property & casualty field guide

The six home coverage parts, replacement cost versus actual cash value, liability limits, umbrella coverage, and the exclusions people find out about too late.

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Guide Nº 7 · Interactive

The estate & legacy field guide

Wills, the beneficiary designations that override them, probate, revocable and irrevocable trusts, powers of attorney, and how titling decides the outcome.

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Glossary

The vocabulary of protection

The terms that come up in nearly every planning conversation — and in nearly every policy and plan document you will be asked to sign.

Beneficiary
The person or entity who receives a policy's benefit. Primary beneficiaries are first in line; contingent beneficiaries receive the benefit if the primary can't.
Death benefit
The amount a life insurance policy pays to beneficiaries — generally free of federal income tax.
Elimination period
The waiting period between a qualifying disability or care event and the day benefits begin. Longer elimination periods mean lower premiums.
Premium
What you pay to keep coverage in force — monthly, quarterly, or annually. Level-premium designs lock the rate for the life of the policy or term.
Rider
An optional provision added to a policy — such as a long-term care rider on a life policy — that extends or modifies the base coverage.
Rollover
Moving retirement money from one qualified account to another — for example, a former employer's 401(k) into an IRA — without triggering taxes when done correctly.
Required minimum distribution (RMD)
The amount the IRS requires you to withdraw annually from most tax-deferred retirement accounts, generally beginning at age 73.
Actual cash value (ACV)
Replacement cost minus depreciation. On an older roof or vehicle this can be far less than what it costs to replace the item — the single most consequential setting on a property policy.
Annuity
A contract with an insurance company that converts a sum of money into a stream of payments, often for life. Terms, fees, and surrender periods vary widely by product.
Cash value
The savings component inside a permanent life policy, which grows tax-deferred. Loans and withdrawals reduce the death benefit, and an underfunded policy can lapse.
Contingent beneficiary
The backup. If the primary beneficiary has died or cannot be located, the benefit passes here instead of falling into the estate.
Deductible
What you pay out of pocket before coverage responds. Some home policies apply a percentage deductible for wind or hail, calculated on the dwelling limit.
Fiduciary
A standard requiring that advice be given in the client's best interest. Not every financial professional is held to it in every interaction — it is a fair question to ask.
Full retirement age (FRA)
The age at which you qualify for 100% of your Social Security benefit. Claiming earlier permanently reduces it; waiting past FRA increases it until age 70.
Guaranteed insurability
A rider letting you buy additional coverage later without a new medical exam — valuable if your health changes after the original policy is issued.
Liability coverage
The part of a policy that pays when you are responsible for someone else's injury or damage, and defends you when you're accused of it. Capped only by your limit.
Look-back period
The window Medicaid reviews for asset transfers when determining eligibility for long-term care benefits. Gifts made inside it can delay coverage.
Own-occupation
A disability definition that pays if you cannot perform the duties of your occupation, even if you could work in another field. The more favorable standard.
Probate
The court process that validates a will and transfers what remains after debts. Public, and variable in cost and duration by state. Assets with a named beneficiary generally bypass it.
Replacement cost
Coverage that pays what it takes to replace an item with a comparable new one, with no deduction for depreciation.
Sequence-of-returns risk
The danger that poor market returns early in retirement, while you are withdrawing, permanently shrink the base that has to recover. The same average return in a different order produces a different outcome.
Term insurance
Life coverage for a set number of years that pays only if you die within that window. Nothing accumulates inside it, which is why it costs a fraction of permanent coverage for the same death benefit.
Umbrella policy
Liability coverage that sits on top of your home and auto limits and pays once those are exhausted — usually inexpensive relative to the protection it adds.
Vesting
How much of your employer's retirement-plan contributions actually belong to you. Your own contributions are always yours; employer money may take years.
Waiver of premium
A rider under which the insurer pays your policy premiums if you become disabled, keeping the coverage in force when income has stopped.
Underwriting
The insurer's evaluation of your age, health, and history to determine eligibility and pricing. Applying earlier — and healthier — almost always prices better.

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