Why is life insurance important? Great question! Life insurance is important because it covers our assets and our asses. Life insurance protects you and your family from unforeseen death, loss of income, etc.
Life insurance should be applied uniquely to individuals based on their current income and needs, while also accounting for future goals. The #1 problem to avoid with life insurance is imperfect fit: buying too much, too little, or the wrong type.
Remember: the CORRECT life insurance policy is BOUGHT, not SOLD. Don’t make a costly mistake… here’s what you should know before you go:
Asset Allocation Definition (Investopedia): Asset allocation is an investment portfolio technique that aims to balance risk and create diversification by dividing assets among major categories such as cash, bonds, stocks, real estate and derivatives. Each asset class has different levels of return and risk, so each will behave differently over time.
5th Grader Definition: Investing diversely so that your investments grow and you can one day retire! Investing in a manner which fits your goals, investment timeline, and risk tolerance. A.K.A. avoiding 100% bonds or cash; 100% of just about anything is usually the wrong long-term answer.
5 Problems To Avoid… Read more
How To Be Secure In Your Own Finances
I feel pretty financially secure… maybe it’s because I have no debt. Maybe it’s because IDGAF about what others think. Instead of paying others (debts owed), I pay myself (savings). My only phone calls are from family and friends, which is how I prefer to live! I became secure when I determined what made me happiest – with no desire to drive my money, live in my money, or show-off with my money. By definition, financial security is how much peace of mind you have that your income will cover your expenses, emergencies, and goals.
Mortgages & Long-Term Investing:
*Sexy Alert: you will always save money on interest payments over the course of a 15 year mortgage versus a 30 year mortgage. Now, let’s look at the options of investing and paying down your mortgage!
Debt is a ticking time bomb!
Shit… Read more
Warren Buffett is one of the top 3 richest people in the WORLD and he lives a frugal life, so what’s your excuse?
ME-llennial Mistakes To Avoid
You don’t need a shiny crystal ball to forecast your exact future. But, you will benefit from a little planning so that you can better position yourself for flexibility to achieve your dreams while minimizing your risks.
The millennial generation is said to be self-absorbed, so start acting like it by taking care of yourself. Maximize your potential and minimize your regrets. Regrets? You know, like that one night in college when… ok we won’t go there. Read more
Making Your 401k Easier Than Your Prom Date
In today’s world, investing is a basic survival skill – if you don’t know how to work with money, then your survivability will literally be impacted. Here’s the bottom line… you probably don’t want to save 50% of your paycheck when you’re in your 50’s. Instead, we need to use the opportunity to invest in our 20’s, 30’s, and 40’s.
$10k saved at age 25 = $228,000 at age 70… Read more