Peter J. Creedon

CFP®, ChFC®, CLU®
Personal Finance, Investing, Insurance
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“With over 18 years of experience in the financial industry, Peter J. Creedon incorporates today’s advanced technology tools with industry experience to give his clients the best opportunity of reaching their financial goals.”
Firm:

Crystal Brook Advisors

Job Title:

CEO

Biography:

Peter is the founder of Crystal Brook Advisors. With over 18 years of professional experience in the financial planning and investing industry, Peter has successfully educated young professionals, entrepreneurs and advanced investors reach their financial planning and investing goals. As an educator, Peter encourages clients to ask questions. He will provide an understandable answer for each client's specific financial planning and investing needs.

Crystal Brook Advisors are committed to designing, developing, and implementing a broad range of investment advisory solutions which include comprehensive financial plans and investing programs with an established practice of high ethical and fiduciary standard, transparency, and expertise. Whether you’re a short or long-term horizon investor, we can help you or your business with the products and services that meet your specific financial planning and investing need.

Peter’s team provides expert advice by combining research with effective technology tools, bridging tradition and contemporary financial planning and investment management solutions.

Peter is a licensed Certified Financial Planner™ (CFP), Chartered Financial Consultant (ChFC), and Chartered Life Underwriter (CLU).

Peter holds two Bachelors of Science and a Master’s Degree. Prior to Crystal Brook Advisors, Peter was a Branch Manager and Financial Advisor at American Express Advisors.

Peter teaches Financial Planning and Business planning at the American College.

Peter has been published in various media channels: CNBC, Fortune Magazine, Investopedia, to name a few.

Education:

BS, Business Administration, Alfred University
BS, Health Care Administration, Alfred University
MPS, Health Care Administration, Long Island University

Fee Structure:

Fee-Based
Asset-Based
Commission

CRD Number:

2951761

Insurance License:

#LA-865096

Disclaimer:

Crystal Brook Advisors is a Registered Investment Advisor in the State of New York. Security Investments are not FDIC insured. Security Investments are not Bank guaranteed. Investing in securities involves risks, a potential of losing money when investing in securities. Before investing, review your investment objectives and Crystal Brook Advisors charges and expenses. Investments past performance does not guarantee future results. Visitors using CrystalBrookAdvisors.com website agree to accept our Terms + Conditions and Privacy Policy.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

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August 2017
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    Life Insurance, Long-Term Care Insurance
How do I determine if long-term care insurance or life insurance is better for my family?
100% of people found this answer helpful

Selecting an insurance policy that fits your needs is a very personal decision and you need to consider many factors such as health, budget, age, family medical history, temporary need (think college or pay off the mortgage) or long term need, etc. Temporary needs can be satisfied with a term policy or coverage for a certain time frame, 1, 5,10, 20, 30 years. Term policies are usually very inexpensive when you are younger and get progressively more expensive over time. Generally, the term policies are not available for people over 70 or maybe up to 80 years of age. A policy for your entire life can be covered by a permanent policy such as, Whole life, Universal life, Variable universal life to name a few. Permanent insurance, once you have a permanent policy and pay your premiums, the company cannot cancel it or change your premium, unless they change the premiums for all the people that hold that type of policy. A thought to remember is that underlying insurance for all policies gets more expensive as you get older. So in a very basic way, a 10 year level term policy adds up your 10 annual premiums and divides by 10 years to get the average cost that is charged each year for a level term policy. A permanent policy acts the same way, but over the expected lifetime of the insured. The cash build up in the earlier policy years in a permanent policy is used to offset the higher costs much later.

The traditional Long Term Care policies coverage became effective if you needed assistance in your home or other type of facility when you could not perform at least 2 activities of daily living. The policies were just to cover these chronic types of situations and most would not cover you for death. They are/were expensive for the chance of probability you needed the coverage. If you did not use the benefits, you did not get a return on your investment. Similar to car insurance, if you never had an accident or crashed your vehicle, you just paid your premiums on the chance that you might need collision coverage.

For several years, there has been a hybrid or newer generation of policies that cover not only cover death, but LTC, with the thought that one way or another you get a benefit. The differences are the benefits paid are capped so the insurance company can put a limit to their liability.

Which one is better for you really depends on what you want to achieve over the short and long-term. If you want coverage in case of death to cover your family and if you have a long life and are worried about the possibility of needing some assistance with the ADL's at home or at a facility, a hybrid policy may be more appropriate. I suggest you research and look at the hybrid policies. Contact a few different life insurance companies and get a few quotes. Research the policies and prioritize what you want, why, and match it to the policies and compare the features, benefits, and costs.

Costs can vary, so shop many companies. When dealing with insurance, matching a person to a company or product is an important factor that can be reflected in cost. One company may be willing to take more of a chance for less cost.

March 2017
    Financial Planning, Investing, IRAs
Do I need to open a Roth IRA or can I just use a taxable account?
100% of people found this answer helpful
March 2017
    Debt, Estate Planning, 401(k)
Are mandatory payouts enforced for an inherited 401(k)?
100% of people found this answer helpful
March 2017
    Insurance, End of Life
Should I boost a death benefit to convert the cash value of a life insurance policy?
97% of people found this answer helpful
September 2016
    ETFs
How do I determine the expense ratio of an ETF?
94% of people found this answer helpful
September 2016