Local author's book addresses insurance, financial issues

|tab|

John T. Piatchek, a certified financial consultant, certified life underwriter and certified family business specialist, has compiled a new book with knowledge gleaned from his training and his more than 30 years of experience in business.|ret||ret||tab|

The 143-page book, "Asset Protection & Wealth Preservation," was published by NF Communications Inc. Copies of the book are available for purchase at Piatchek's office, but he said most of them are being given out to his clients. |ret||ret||tab|

"The real reason for doing it was not necessarily to make profits selling books that's not my business it's more or less to help educate the people and the contacts I come in contact with," he said.|ret||ret||tab|

Piatchek said that clients have repeatedly asked the same questions, and many requested reading material on particular issues. With this book, which is his first, he worked to provide some of those answers. |ret||ret||tab|

"I think (the book) just takes all the steps and brings it into one book, and it's fairly easy reading. We're finding that not everybody will take the time to read it, but those that do, it's pretty helpful," he said. |ret||ret||tab|

The book is intended to have a "universal appeal," Piatchek said, offering relevant information for business owners, employees and all age groups. |ret||ret||tab|

"The focus was to cover a vast array of subjects so just about anybody could pick it up and find something of interest in it that would be real helpful in helping them make financial decisions along the way," he said.|ret||ret||tab|

"A lot of these things are maybe not revolutionary ideas, but they're just good, solid financial planning ideas that anybody could come away with from reading this, I think, even if they're pretty sophisticated." |ret||ret||tab|

Among the topics in the book are retirement plans, insurance, long-term care, estate planning, mutual funds, growth and income investing and taxes.|ret||ret||tab|

The most relevant topics in the book, Piatchek said, depend on each reader and what he or she may be seeking.|ret||ret||tab|

But he said in general, he'd probably point readers to the first chapter on financial planning, in which he provides a good overview of choosing a financial adviser and other basics, then he would have them look at specific sections depending on individual needs. |ret||ret||tab|

|ret||ret||tab|

Retirement planning|ret||ret||tab|

In the book, Piatchek addresses individual retirement accounts, including 401(k) plans, which he said is an employee benefit that should be taken advantage of by workers.|ret||ret||tab|

"Basically, if there's a 401(k) in there and the company's putting some match in, and some seed money, and there's tax savings, it's a slam dunk that they ought to participate, if there's any way, shape or form to have some money available," he said.|ret||ret||tab|

Because each company's retirement plan varies, Piatchek said it's important for employees to consult with representatives the company contracts with. But he said the material in his book can help. |ret||ret||tab|

"By reading that in there, they're going to be more well-versed, maybe have better questions," he said.|ret||ret||tab|

For other topics as well, Piatchek said the book should be a supplemental tool and not a replacement for a qualified financial adviser. |ret||ret||tab|

"It's not designed to make everybody an expert it's just to help them (with) the foundation," he said. |ret||ret||tab|

|ret||ret||tab|

Insurance|ret||ret||tab|

The insurance addressed by Piatchek in his book pertains to wealth preservation and asset protection primarily different types of life insurance coverage.|ret||ret||tab|

The reason for that, he said, is that other types of insurance, such as homeowners, health and auto, are pretty common for people to have, often as mandated by law. |ret||ret||tab|

"What I think is far more important, and (what) a lot of people don't consider is, what is guaranteeing that asset to begin with?" he said. "In other words, we have a home, we have a car, we have furniture we have different possessions, but that all comes about because of one thing. We work to earn a living. |ret||ret||tab|

"If our house burns down, and we continue to work, we can rebuild it. If our car gets wrecked, we can purchase it, but what happens if we burn down' as individuals and the fact that we can't go to work or we don't return home tomorrow because an 18-wheeler gets us, then we've got this whole stream of income payments, the rest of our future, that, particularly, if we're married with a family, we may be gone, our dream may be shattered, but our family's dreams and hopes and desires go on, and so from that standpoint, it makes a lot sense to protect some of that future."|ret||ret||tab|

[[In-content Ad]]