By Glenn Ruffenach
May 5, 2019 — “But the greater risk to your nest egg, says Charlie Farrell, chief executive officer of Northstar Investment Advisors in Denver, is the possibility that you could be one of the unlucky ones, a person who needs, say, five years or more of care—and whose spouse needs a long period of care, as well.”
By Charlie Farrell
June 5, 2019 —“While every family has different values around supporting adult children, if the support is restricting your ability to adequately save and prepare for your own retirement, then supporting your adult kids is a problem.”
By Charlie Farrell
May 5, 2019—“Many retired investors have been waiting for interest rates to rise so they can enhance their income. But as the saying goes, you might be waiting until the cows come home.”
May 1, 2019 —Northstar President and Co-Founder Fred Taylor has been elected chairman of the Children’s Hospital Colorado Foundation’s Board of Trustees. Taylor formerly served as vice-chair and treasurer of the Foundation’s Board. He will serve a two-year term.
By Monica Vendituoli
April 22, 2019—“There are no finite rules as to what qualifies as a ‘green’ company to invest in,” said Fred Taylor in an email.
April 16, 2019 — “Luke Perry’s sudden death from a stroke at just 52 should make us all realize that the death of a spouse can happen out of the blue. Are you prepared? Failing to tackle these important topics can have serious ramifications. “
By Charlie Farrell
April 7, 2019—“The main point I want to make is that while the market will continue to shi from periods of grand optimism to severe pessimism, the more accurate narrative is the “optimistic” one, not the pessimistic one.”
March 3, 2019 — “One primary strategy to reducing taxes in retirement is to think about what sort of assets you keep in your IRA accounts. In a nutshell, if you can keep your slower growing, ordinary income assets in your IRA, you are likely to reduce your overall tax burden in retirement.“
By Fred Taylor
February 13, 2019—“The reality is there are plenty of companies to invest in and if you don’t like the management of the companies, what they do to the environment or their products, don’t buy their shares.”
February 3, 2019 — “But one thing to remember about index investing is that while it is an efficient way of investing, it doesn’t mean it’s rational or less risky than other methods. When the stock market goes haywire, either on the way up or on the way down, you are along for the same ride.”
By Fred Taylor
January 17, 2019—“The first two things you should look at doing are paying off high interest rate credit card debt and high-interest rate student loan debt. This kind of debt is brutal simply because it typically costs you a lot more than home mortgage debt.”
January 6, 2019 — “If you are concentrated in just a few companies, then you could own the ones that don’t recover, and there generally are some that don’t in any bear market. Thus, it’s important to be fundamentally diversified.”
By Aldo Svaldi
January 1, 2019—“Investors will remember 2018 for incredible volatility and big losses,” said Fred Taylor, president of Northstar Investment Advisors in Denver. “Diversification simply didn’t work. Every major asset class lost money: stocks, bonds, commodities, bitcoin, hedge funds and gold.”
December 13, 2018 — “There is definitely a race to the bottom in terms of fees with passive investing,” said Fred Taylor, president of Northstar Investment Advisors. “Vanguard, Schwab and Fidelity continue to cut the fees on their index and exchange-traded fund products. On a few funds Fidelity doesn’t charge any fees.”
By Aldo Svaldi
December 5, 2018—”If you have $1 million, you should be able to distribute $40,000 per year adjusted for inflation,” said Charlie Farrell, CEO of Northstar Investment Advisors in Denver.”
December 2, 2018 — “Let’s say you spend $1,500 on holiday gifts each year, and you did this for 35 years, basically from age 30 to 65. Now what if you had actually invested that money and earned 7.5 percent in your 401(k)? It would be worth around $250,000. That’s real money, so what you spend on the holidays does have an impact on your financial security.”
Northstar Co-Founder Bob Van Wetter Elected to Lutheran Medical Center Foundation Board of Directors
By Northstar Staff
November 30, 2018—Bob Van Wetter, Co-Founder and Chief Operating Officer of Northstar Investment Advisors, LLC, was elected to the board of directors of the Lutheran Medical Center Foundation.
October 7, 2018 — “The problem in today’s global markets is that you can’t build wealth by being conservative. To my knowledge, there are currently no safe investments that will allow you to outpace the impact of inflation and taxes. So if you allocate too much of your money to conservative investments, it’s likely you won’t reach your long-term goals.”
By Fred Taylor
November 1, 2018—”For consumers who have financed their homes with adjustable rate mortgages – now is the time to reconsider that strategy. If you haven’t locked in a fixed interest rate for 15 or 30 years, it is time to consider doing that.”
October 7, 2018 — “While the trade skirmish is underway, business will continue, companies will figure out ways to work around some of this, and I’d keep investing right through it. “
September 28, 2018—”A trade war and higher tariff threats between the United States and China captured most of the economic headlines during the third quarter of 2018, and as we head into the last three months of the year this doesn’t appear to be changing any time soon,” said Fred Taylor, president of Northstar Investment Advisors.
September 2, 2018 — “There is a lot to learn about personal finance, and the earlier your kids start, the better decisions they’ll make. And it reduces the odds they’ll come home to live in your basement..”
August 20, 2018—Fred Taylor was recognized by Colorado State Treasurer Walker Stapleton for his service on the Colorado Public School Permanent Investment Board from 2016 to 2018.During his tenure, Taylor and his fellow board members helped invest $900 million to benefit children attending the state’s public schools.
August 5, 2018 — “There is a lot to learn about personal finance, and the earlier your kids start, the better decisions they’ll make. And it reduces the odds they’ll come home to live in your basement..”
by Monica Vendituoli
July 19, 2018 — “A nasty trade war with China, Mexico and Canada caused by high tariffs could be a disaster,” said Fred Taylor.
July 5, 2018 — “If your parents haven’t talked to you about how they plan to handle their finances if they should suddenly become unable to manage that task, then now is the time to start the conversation. If you don’t, you may be left with too little information, especially if you find your loved ones facing dementia or a catastrophic illness.”
by Charlie Farrell
July 1, 2018 — “Vacations are great if you can afford them. The way you figure out if you can afford them is to save at least 12 percent of your pay in your 401(k), pay all your bills on time, and then pay for a vacation out of the savings that’s left.”
June 1, 2018 — “Properly managing your personal finances really comes down to one simple rule: live the life you’ve earned, not the one you think you deserve.”
by Charlie Farrell
May 6, 2018 — “You can see that as interest rates rise, it makes everything we buy on credit more expensive. And since many folks buy lots of stuff on credit (cars, campers, boats, homes. televisions, smartphones, dinners at Applebee’s), rising rates can slow the economy.”
April 19, 2018 — “If you are in the midst of a divorce, one of the first items you should address is assembling a stellar team of advisors that are experts in their respective fields and focused on placing your needs first.”
by Ben Eisen
April 12, 2018 — “I just don’t see how it’s inexpensive. It’s slightly cheaper but I don’t see it as inexpensive,” said Charles Farrell, Chief Executive of Northstar Investment Advisors.”
February 11, 2018 — “This is what makes bull markets so dangerous. They are not supported by fundamental growth, they are supported primarily by enthusiasm.”
February 6, 2018 — Northstar Investment Advisors LLC was recognized for the third consecutive year in AdvisoryHQ’s 2018 Ranking of the Top-Rated Wealth Advisors in Colorado.
January 11, 2018 — “Tom Bailey, founder of Janus, Jon Erik Borgen, CEO of Founders Funds, and Bill Berger of Berger Funds all cashed out at the top of the market in 1999. You wonder if the owners of DIA/Westcore Funds are doing the exact same thing,” said Fred Taylor, president and co-founder of Northstar Investment Advisors in Denver.
January 7, 2018 — “So should you exchange some of your U.S. currency for this digital currency? Well, that depends on whether you think that a digital currency would hold its value better than U.S. currency.”
December 29, 2017 — “Crazy year in the markets between double-digit stock market returns, the passage of the tax bill, Bitcoin and now oil trading back over $60 a barrel,” said Fred Taylor, president of Denver-based money manager Northstar Investment Advisors
December 29, 2017 — “Since short-term interest have gone up almost 100 basis points in 2017, in our opinion the short end of the yield curve is a lot more attractive to buy. Short-term treasuries provide defense and act as a hedge when the stock market corrects.”
December 3, 2017 — “If you’ve already met your deductibles and still need some medical services, try to visit the doctor before the year ends, because the bulk of the cost may be borne by the insurance company.”
December 3, 2017 — “While some retailers are going belly-up, the stock market tends to paint all companies in a struggling industry with a broad brush. But it’s likely some will continue to be successful.”
November 5, 2017 — “With the stock market setting records by the week, how much higher can it go? Many investors are worried that we could be in for a sharp correction. If that’s the case, what should you do?”
November 2017 — “By relaunching Dads for Daughters (D4D) at The Women’s Foundation of Colorado, Caroline’s father, Fred Taylor, a Denver-based philanthropist and president and co-founder of Northstar Investment Advisors, found a way not only to connect with Caroline but to also honor her, his wife, stepdaughter, and four sisters.
Northstar President Fred Taylor Named 2017 Philanthropic Leadership Award Winner by The Denver Foundation
Oct. 23, 2017 —”Northstar President and co-founder Fred Taylor has been named a recipient of The Denver Foundation’s annual Philanthropic Leadership Award. Taylor was selected for his outstanding work in furthering philanthropy in the Denver community.“
October 20, 2017 — “It was a surreal experience watching stocks drop that fast on the Quotron machine. There were no buyers that day. Individuals stocks dropped 20 to 30 points and by the end of the day the Dow was down 508 points or 22 percent. No one alive had every experienced anything like it.”
Oct. 5, 2017 —”Most asset classes in the world today are considered expensive. Stocks, bonds and real estate have had tremendous appreciation since the depths of the financial crisis. As a result, some investors are looking at alternative investments like gold or the trendy virtual currency, Bitcoin.”
October 3, 2017 — “When the market is going down, and fast, human nature is that people panic and sell. and they never get back into the market because they are scared,” said Fred Taylor, president and co-founder of Northstar Investment Advisors.
Oct. 1, 2017 —”One of the primary things to understand about long-term returns is that they include inflation. As you know, salary increases above inflation are what really impact your lifestyle, and this same issue applies to your investments.”
September 14, 2017 —Northstar COO and Chief Compliance Officer Bob Van Wetter will serve as a panelist for IA Watch’s Cybersecurity for Financial Services Conference. A founder of Northstar, Van Wetter has been overseeing the firm’s compliance and cybersecurity efforts since 2013.
Sept. 3, 2017 —”Many investors today are fretting over the increasing price of the stock market. That’s natural given the two big market crashes we’ve seen since the year 2000. Both were preceded by giddy markets that seemed disconnected from real economic growth. So what are you to do if you’re worried?.”
August 27, 2017 — “When you invest in a company, you are supporting that firm’s leadership. So, it should come as no surprise that a change in the CEO position can often influence a company’s stock price. Sometimes fresh blood is welcomed by investors, serving as a catalyst for a much higher stock price down the road. Other times, depending on who takes over, a new CEO can sow uncertainty in investors and provide a reason to sell.”
August 2017 —”When selecting dividend payers, ‘the growth of the dividend is the most powerful part of the formula,’ as a rising dividend often buoys the share price, says Charlie Farrell, chief executive officer at Northstar Investment Advisors, in Denver.”
Aug. 6, 2017 — “One good measure of stock market valuation is the price-to-earnings ratio. Back in September 2014, it was about 18.5, and today it’s over 23. This is another way of saying we are simply paying more for the same amount of profits.”
July 14, 2017 — ” It just might be the fiduciary rule change that touches off a second wave of advisers fleeing big wirehouses, said Fred Taylor, president and co-founder of Denver-based Northstar Investment Advisors LLC. He left the big wirehouse to form his own firm 22 years ago. “They might be thinking; how can I make it now? I’ll start my own firm and put the interests of clients first as a fiduciary,” Taylor said.”
July 2, 2017 — “What if you still have a mortgage? Should you rush to pay it off? Probably not if your remaining mortgage balance is more than 5 percent of your retirement savings. If you pull a big chunk of dough out of your retirement plan to pay off the mortgage, you may do more harm than good.”
June 18, 2017 — “If you survey financial advisers, most will tell you to fund your retirement first and then save what you can for your kids’ education. The main reason is that there are many support systems available for funding college education.”
Northstar President Fred Taylor Appointed Vice Chairman of Children’s Hospital Colorado Foundation Boardby Northstar Investment Advisors
June 6, 2017 — Northstar President and Co-Founder Fred Taylor has been elected vice-chairman of Children’s Hospital Colorado Foundation’s Board of Trustees. Taylor will serve a two-year term and provide support for chairwoman Laura Wright.
May 21, 2017 — “Before you borrow, you need to estimate how much you’ll make from your venture. Only then can you figure out if you can support the debt payments. When most people hear this about college, they say, “I have no idea how much I’ll make.” And therein lies the problem. You’ve got to figure it out.”
May 11, 2017 — “We have a very unique model in the sense that we don’t manage money to beat the market every quarter or every year. Instead, what we are trying to do is to create a cash flow.”
by April 2, 2017 — “If you’re trying to figure out the “right time” to get in or out of stocks, you’ll usually do yourself more harm than good. It’s essentially impossible to identify the major inflection points in markets.”
April 13, 2017 — Dividends can be a wonderful source of income in retirement. But retired investors, in particular—who don’t have a steady paycheck from a job—need a Plan B, says Charlie Farrell, chief executive officer of Northstar Investment Advisors in Denver. “The key is to really think through how you would react to a big stock-market decline and how you will ‘bridge’ that decline,” he says.
March 5, 2017 — “Here’s the problem: Lenders don’t think about how much you need to save for retirement. They look at your income and immediate expenses. Thus, in their lending formulas, money that should go to retirement savings goes to cover a higher mortgage payment.”
February 12, 2017 — Charlie Farrell, CEO of Northstar Investment Advisors in Denver, said Medicare does cost and needs to be planned for, but it is a manageable expense for most retirees. “To me, the real risks are the costs not covered by Medicare, and this all falls into the area of long-term care, or what you might otherwise consider the cost of assistance with aging,” he said.
February 5, 2017 — “At a certain level, successful investing is largely a psychological game. Do you have the guts to watch your stocks decline by 50 percent and stick with them? Famed investors Warren Buffett and Peter Lynch have told investors to ask themselves that question. Yet most people don’t.”
January 18, 2017 — “Mr. Farrell wrote a paper back in 2006 that went into much more detail about how much savings (and debt) you should (and should not) have at various stages of your life. He’s also written a detailed book on the subject, called Your Money Ratios.”
January 6, 2017 — I would say nine out of 10 investment advisors today are managers of managers,” Taylor said. “They don’t manage stocks individually; they outsource the money management to other managers. That’s expensive for the client. In our case, I think our competitors’ clients are paying 30 to 50 percent more than what they would pay with us
January 3, 2017 — Cheryl manages all aspects of vendor relations. She directs the visitor/client experience, assists with compliance administration, supports marketing and performs event planning. Cheryl also provides oversight for HR work and systems management.
January 1, 2017 — “If you have a mortgage, it’s a good idea to have it paid off before you plan to retire. Figure out how much extra you’d need to pay each month to eliminate your mortgage by the time you plan to retire, and get going.”
December 22, 2016 — “The reality is that in most years, stock returns are positive and can serve as a source of distributions for retired investors. The problem is you can’t predict which years will be positive and you also have to accept the risk that stocks can fall significantly at any time.”
November 9, 2016 — Pollsters predicted a Hillary Clinton win and her defeat Tuesday sent the markets scrambling overnight. Fred Taylor dubbed the surprising presidential results a “Brexit 2.0” — the British vote to leave the European Union in June where polls predicted it would fail. “Nobody anticipated Trump winning — all the pollsters were wrong,” he said. “The one thing the market doesn’t like is uncertainty.”
October 25, 2016 — There has been plenty of discussion about how to address America’s burdensome corporate tax policy. Two potential options include taxing profits made overseas by U.S corporations and limiting the tax deduction on corporate bond interest to 65 percent.
July 26, 2016 — Taylor and three partners, tired of being at the whim of the big firms, started their own firm in 1996, Northstar Investment Advisors. They started a new way of doing business — charging a fee, rather than working on commissions. The firm also built a custom portfolio to help clients to live on stock dividends. “We took an old-fashioned approach and modernized it,” Taylor said.
October 13, 2016 — Northstar President and Co-Founder Fred Taylor has been appointed to the Colorado State Land Board’s Public School Investment Fund Board and the board of directors for CollegeInvest, Colorado’s 529 college savings plan provider.
June 14, 2016 — “On the surface, the Brexit question is rather simple: maintain the status quo or go it alone. However, the ramifications of leaving the European Union are very complicated and could have long-lasting effects on the British pound and Britain’s economy going forward.”
July 14, 2016 — Northstar Investment Advisors has added Danette Penrod and John Riecke to it staff. Penrod has been appointed Client Services and Operations Manager and Riecke is serving as Operations Administrator.
May 19, 2016 — “Shorting stocks is the single most-risky way to invest, simply because you don’t know what your downside risk is going to be. If you are long in a stock, it can only go to zero and you lose all of your original investment, but at least you know what that amount will be. If you sell a stock short and the stock continues to go up, there is no way to quantify your loss until you finally cover your short position.”
June 1, 2016 — “If you are an investor, you pay attention to profits. Regardless of the GDP figures, if profits are shrinking, it’s not good news for investors, whose success is based on the profits generated by the companies they own. If they don’t generate profits, then the value of the business is eventually going to decline.”
April 6, 2016 — “This decision is more art than science, but we will generally sell a company if we have determined that there is a high risk of a fundamental change to the economics of the business. This means we believe that the company’s profits, and thus capacity to pay and raise dividends, have been meaningfully diminished for an extended period of time.”
May 3, 2016 — “Negative interest rates discourage banks from hoarding cash and in theory, stimulate lending to businesses and households instead. They also push investors into riskier assets by making bonds a much less attractive option.“
March 10, 2016 — “Very few people can live off of 2%,” says Charles Farrell, chief executive officer at Northstar Investment Advisors in Denver. Most investors need the combination of price appreciation and dividends available in stocks “to make the numbers work in retirement,” he says.
March 27, 2016 — “The only time a home is a financial asset is when you’re trading down,” Mr. Farrell says. “Certainly thinking about taking the equity that’s been built in a primary home and buying something else you can own debt free and with low expenses is smart.”
February 11, 2016 — Here’s the good news: if you start saving now, you will more than likely have more money in retirement than the generation right in front of you, Generation X, who are busy playing catch up with their retirement accounts after two brutal bear markets over the last 16 years.
February 25, 2016 — Northstar Investment Advisors LLC was recognized in AdvisoryHQ’s 2016 Ranking of the Top Wealth Advisors in Colorado. The firm was one of 12 included in the listing, which is designed to provide objective, comprehensive research to help the everyday consumer make informed financial decisions.
January 11, 2016 — “Investors get confused by just looking at current yield,” said Charles Farrell, CEO of Northstar Investment Advisors in Denver. “But income streams become less valuable unless they grow.”
February 4, 2016 — Could oil go as low as $20 a barrel? It certainly could, but commodities are a self-correcting mechanism. At some point in time, production gets cut to the bone, the oversupply gets used up, and prices stabilize.
December 11, 2015 — “The problem with the 60/40 model is that on 40% of your money, you really can’t build any real wealth. You have to consider inflation and then you have to take into account the taxes you have to pay on the interest you earn on those bonds. It becomes harder to get ahead,” says Charles Farrell, chief executive of Northstar Investment Advisors in Denver.
December 31, 2015 — “Most market indexes showed small losses for 2015, but this masked the brutal bear market in many stocks impacted by oil prices below $40 a barrel,” said Fred Taylor, president of Northstar Investment Advisors in Denver.
November 1, 2015 — The Rule: At retirement, you should have 10 to 12 times your final salary in savings. The Verdict: Thumbs Up Along with Social Security, this should be enough to generate 70 to 80 percent of preretirement income for most people, says Charlie Farrell, chief executive of Denver-based Northstar Investment Advisors.
December 1, 2015 — During the correction in late August, Taylor said, he got “very few phone calls” from uneasy clients. Part of that was because Northstar was proactive about reaching out to clients, he said, but “in 20 years, we’ve seen a lot. We’ve seen the Asian crisis, we’ve seen 9/11, we’ve had the tech-Internet blowup, we had the financial crisis, we had the debt ceiling crisis in August 2011. Clients have matured and have gotten more used to the ups and downs of the market.”
October 16, 2015 — “While there is never just one reason for market movements, we think that the growing involvement of government entities (in the U.S., Europe and Asian markets) has exacerbated the recent sharp and irrational market movements. We expect it will continue as central planners now feel compelled to play out the hands they dealt themselves.”
October 19, 2015 — It’s a good goal to own a home and have a rent-free home to live when you retire. If you don’t, your cost of living is going up every year, but you’re not building equity.”
September 17, 2015 — “If anything this shows that we are a global economy and it is important what is going on in the rest of the world,” said Fred Taylor, president and co-founder of Northstar Investment Advisors, LLC. “Ultimately what happened a month ago with the devaluation of the yuan in China is what triggered the correction, and when the stock market fell August 24, the Fed looked hard at that.”
October 7, 2015 — “The number of advisors who perform in-house research and select equities for their clients’ portfolios themselves is rapidly shrinking because of the time involved. Instead, many advisors have shifted towards picking managers and often have no idea what companies are in their clients’ portfolios because these portfolios are based on asset classes, not the underlying businesses themselves.”
July 30, 2015 — Why do the markets even care what happens to Greece? The concern stems from the possible domino affect or contagion that could occur if one weak member of the Eurozone leaves, and places the remaining 18 members at risk. If Greece can default on its debt obligations what prevents others who have borrowed a lot of money from doing the exact same thing?
August 5, 2015 — “Given your age, you should ideally have a bit more than three-and-a-half times salary, or roughly $400,000, socked away in retirement savings in order to be able to retire at 65 on 80% of your pre-retirement salary, according to the benchmarks in financial planner Charles Farrell’s book, Your Money Ratios.”
May 4, 2015 — “For the 20 years that Northstar has been in business, we have advocated earning income from your investments in the form of dividends paid by individual companies. We prefer dividends because their returns are never negative.”
June 9, 2015 — “By rebalancing, the bottom line is we are working the “buy low, sell high” strategy on both the price and the dividend income side of the portfolio.”
April 14, 2015 — “If you have your mortgage paid off, it might take down the income you need by 10% or 15%,” says Denver financial adviser Charles Farrell, author of “Your Money Ratios.”
June 1, 2015 — “Liability matching with bonds is so terribly expensive that most people just can’t afford to do it,” argues Charles Farrell, author of “Your Money Ratios” and chief executive of Northstar Investment Advisors, based in Denver.
March 16, 2015 — “My position is that income-focused total-return investing has the potential to give you the best of both worlds: a source of cash flow during bad markets and a primary driver of long-term wealth appreciation.”
May 3, 2015 — “When the oil industry experienced barrel prices in the $ 100 range, they expanded their debt, as they didn’t anticipate the downturn in 2014,” said Fred Taylor, president and co-founder of Denver-based Northstar Investment Advisors.
March 3, 2015 — Charlie Farrell, CEO of Northstar Investment Advisors, LLC, has joined the board of directors for the Mountain Area Land Trust, a non-profit committed to preserving the natural heritage of the Front Range.
February 17, 2015 — Your total debt matters. But the kinds of debts you have and the implications for your future are crucial too, says Charles Farrell, author of Your Money Ratios and CEO of Northstar.
March 2, 2015 — “Currency fluctuations are just one factor we examine when we analyze companies to include in our equity income model. Our research also includes evaluating earnings growth, dividend growth, profitability and a company’s margin of safety.”
January 6, 2015 — Fred Taylor, President and Co-Founder of Northstar Investment Advisors, discusses his outlook for the stock market in 2015 with 9News Business Reporter Gregg Moss.
February 13, 2015 — “Investors are realizing they are, in essence, being double-charged — first with an advisory fee and then again when they have to pay their individual mutual fund managers a fee.”- Fred Taylor
June 20, 2014 — “It’s easy to lull ourselves into complacency as long as we’re making our various loan payments on time each month. But Charles Farrell, a financial adviser in Denver and author of “Your Money Ratios,” thinks that people should do a bit of math before patting themselves on the back.”
December 6, 2014 — Northstar Investment Advisors CEO Charlie Farrell discusses what retirees should look for when determining where to spend their golden years.
January 7, 2014 — Northstar President Fred Taylor offers 9News viewers guidance on the markets, investment strategies and expectations for the economy in 2014.
September 10, 2012 — Northstar CEO Charlie Farrell discusses retiree healthcare expenses and provides tips on how to prepare for these ever-rising costs.
November 13, 2012 — Northstar CEO Charlie Farrell advises investors to look for high-quality companies with stronger managers in the slow-growth environment.
September 10, 2012 — Northstar CEO Charlie Farrell discusses retiree healthcare expenses and provides tips on how to prepare for these ever-rising costs.