Press Releases
Written in the
The Patriot Ledger
Protecting assets
from market swings
Plymouth man helps people get a return, even when market’s
down
By Julie Onufrak
The Patriot Ledger
Posted Feb 25, 2009 @ 06:00 AM
QUINCY — As one of the owners of retirement advisors
Senior Health Partnership, Chuck Nilosek is conservative.
A few years ago, he and his partners considered buying an
office in Plymouth. They decided against it, preferring
to lease, and the real estate market has proven that a good
choice.
When advising his clients on retirement, Nilosek is conservative,
too. Senior Health Partnership, which was founded in 2003
by Nilosek and three other partners, aims to protect clients’
assets by focusing on health, legal and financial issues,
primarily with insurance products.
In December, the company celebrated the fact that not a
single one of the roughly 500 clients that have done business
with the firm lost a penny in the economic crisis of 2008.
The company sold the equivalent of more than $10 million
in premiums last year, and it expects to double that number
this year.
Nilosek, who is 36 and lives in Plymouth, started out working
in communications and has done stand-up comedy. Now he does
a radio show called “Living with Your Money”
on weekdays from 11 a.m. to 1 p.m. on WPLM 1390 AM.
Who are your clients?
We’re geared toward people in their retirement years
who are in their 50s, they’re thinking about retirement,
60s, 70s, in that range, who are depending on their nest
egg that they built for themselves. ... With younger people
in their 30s, I always tell them, look, this is a great
time for you to be in the market, because you can get really
great deals there now, and eventually it’s going to
come up. But when I’m talking to a 60-year-old who
is thinking about retiring in the next two years, they don’t
have 15 years to watch it bounce back to where it was. They’re
living off of this money, possibly. That’s kind of
a challenge that we face. For our niche group that we selected
to work with, we’re really helping them out tremendously.
How do you protect your clients’ assets,
even in a volatile market?
With insurance, everything that we use is protected. We
use a lot of annuity products, and fixed index annuities
have been extraordinarily popular. Life insurance, in some
respects for tax strategies, is a place where people have
put their money. We work with banks to find people the best
CD rates. (But) CD rates the way they are right now are
miserable, so there’s really nothing we’re suggesting.
But fixed annuity rates – there’s a product
right now that’s paying 5 percent, guaranteed for
five years. So if you think like everyone does that the
next few years are going to be tough, you’ve got a
five-year window where you can get 5 percent every year.
If that was the market, you’d love it – 5 percent
growth every year, compounded, tax deferred.
How do fixed annuities work?
The best way to understand it is understanding how a CD
works. If you go into a bank, you select a CD for six months,
three years, five years, 10 years, and you’re going
to get an interest rate based on those years. A fixed annuity
is the same thing. You elect an amount of years, and typically
the longer you do it, the better interest rate you’ll
get. … Where annuities and CDs separate is that when
you put your money into a CD, it’s locked in that
CD for that time frame. Not only that, but the growth on
that is taxable. So at the end of the year, you’re
getting a 1099 whether you use your money or not.
What a fixed annuity does is it grows tax deferred. If
you don’t touch it, you don’t get a 1099. You
only pay taxes on what you collect on it. That tax deferral
status is really, really important. … A fixed annuity
is pretty liquid, more liquid than a CD. Every company is
different and every product is different, but with a typical
annuity, you have access to about 10 percent of it per year
with no charge. … At the end of the term, if you have
a five-year, eight-year, 10-year fixed annuity, you just
walk away with the whole amount.
Why do you discuss health on your radio show?
The radio show, “Living with Your Money,” is
a quality-of-life show. I had a weekly segment with a physical
trainer who talked about working out and being healthy and
stuff. Actually, today I reminded the audience – I
said, I want you to understand why we’re having this
individual on. We’re not trying to be silly, it’s
just that your health is a monetary investment for you.
Because down the road, how much life insurance you can get,
what kind of medical insurance you can get, the life expectancy
that you’re going to have, how many prescriptions
you’re going to have to get, is going to play a role
in your income. To live a healthy life and to keep an aspect
of that in mind is vitally important.
Julie Onufrak may be reached at jonufrak@ledger.com.
Written in the Old Colony
Newspaper
Zero loss equals gain in 2008
By Kathryn Koch
Tue Jan 06, 2009, 02:05 PM EST
PLYMOUTH - Asset protection my not sound thrilling to everyone,
but for the owners of Senior Health Partnership, those two
words are music to their ears.
And Senior Health Partnership’s clients appreciate
the company’s efforts to protect their assets, too.
Daniel Kaiser of Plymouth said he was losing money in the
stock market with a former broker when he turned to Senior
Health Partnership two years ago. By placing his money in
an annuity, he was able to stem his losses and has even
gained. It helped that Kaiser received a bonus for his investments.
“I haven’t lost anything, and the gains are
good,” he said. “They’re really pleasant
guys.”
Kaiser said he has confidence in the owners of Senior Health
Partnership to continue to protect his interests.
“They’re on the ball all the time,” he
said. “They’re always checking in.”
And Kaiser isn’t alone in being able to say he didn’t
lose any money in 2008. In fact, not one of the company’s
approximately 500 clients lost a penny in the economic crisis
of 2008.
That achievement was celebrated Dec. 10 when Senior Health
Partnership held a “Zero is Hero” holiday party
at the Plymouth Yacht Club for its clients.
“We have had an unbelievable 12 months,” co-owner
Chuck Nilosek said.
The company will have its annual meeting in the spring
as usual, but Nilosek and his partners didn’t want
to wait to celebrate the accomplishments of the past year.
A video crew at the dinner interviewed clients about what
it meant to them. Nilosek said the zero-loss accomplishment
was a surprise to them as well as their clients.
“We were floored,” he said.
Senior Health Partnership employs financial planning through
insurance and uses asset protection as its cornerstone.
Nilosek, a lifelong Plymouth resident, said asset protection
is often overlooked but can make a world of difference for
an investor. Clients are advised of their options and ways
their assets can be protected.
“We’re promoting the idea of being safe and
having a solid foundation that will take you through the
rest of your retirement years,” he said.
As advisors for retirees and others close to retirement,
Nilosek said, they believe in the three-legged stool approach
to financial, legal and health matters.
They have formed relationships with local attorneys, who
can assist clients with health care proxies, wills or powers
of attorney.
Senior Health Partnership moved into offices on Water Street
in 2003 and in the past year moved into a larger quarters
in the former Ocean Spray building, at 225 Water St. The
company reaches out to the public over the airwaves as well
with a weekly radio show called “Living With Your
Money,” which can be heard five days a week on stations
like WPLM AM 1390, from 11 a.m. to 1 p.m.
In addition to being a supporter of the Council on Aging,
Cranberry Hospice and other charities, the company belongs
to the Better Business Bureau and the National Association
of Insurance and Financial Advisors.
Nilosek can be reached at 508-746-2400, ext. 202
Local Company Saves hundreds
from the spiraling economy.
Senior Health Partnership of Plymouth recently celebrated
its' "Zero is Hero" holiday party at the Plymouth
Yacht Club, honoring the fact that NOT ONE of the roughly
500 clients that have done business with SHP lost a penny
in the economic crisis of 2008. Over 80 clients packed the
yacht Club and cheered as Chuck Nilosek, Co-owner announced
the remarkable feat. Senior Health Partnership employs financial
planning through insurance and uses asset protection as its
cornerstone. A local video crew was on hand to capture the
night and gets testimonials from clients on how relieved they
are that their assets are safe and sound despite anything
that could possibly occur on Wall Street.
Senior Health Partnership is also taking their message of
safety to the airwaves as they have recently taken their weekly
radio show to 5 days a week. Currently they can be heard on
WPLM AM, 1390 and WBNW AM 1120 AM from 11 AM-1 PM. You can
also listen online on this website under the Radio tab. Keith
Ellis, Co-owner of Senior Health Partnership states, "Now
more than ever, people are clamoring to protect what they
have to ensure a happy, productive retirement."
Senior Health Partnership uses the 3 legged stool approach
to retirement planning. Financial, legal and health strength
to support balance and stability for life's many uncertainties.
For more information about Senior Health Partnership please
visit our website at www.seniorhealthpartnership.com or call
Chuck Nilosek at 508-746-2400 X202.
Senior Health Partnership are supporters of many local organizations
and charities such as the Council On Aging, Cranberry Hospice
and many more. SHP belongs to the Better Business Bureau and
serves as a member-at-large on NAIFA. (The National Association
of Insurance and Financial Advisors)
Take Advantage
of Your Free Consultation
Call (508)
746-2400 or Toll Free (866) 746-2401
