Taking Charge
10 smart tips
inancial security is the comfort of knowing that your family ’s
standard of living is secure even if a life -changing event occurs.
It is also about having the means to achieve your most important
goals, like buying a house or send ing your childre n to colle ge.
For most peop le, financial security comes from a combination of
savings, insurance and investments that are accumulated over
time. But how do you go about creating a plan that will e nsure a
financially se cure future for your loved one s. Whe re should you
start. How do you balance all of the competing financial priorities.
Knowing what to do with your mone y and whether you’re making
the right decisions d oesn’ t need to be a huge source of stre ss.
A little information can go a long way toward helping you achie ve
greater financial pea ce of mind.
Whethe r you’ve just be gun to evaluate your family’s long-term
financial nee ds or you already have a game plan in place, he re are
some important principles to ke ep in mind whe n evaluating the
state of your family’s financial securit y.
Financial Security
Reality Check
Do you have good
answers for all of
these questions.
How long could you
be out of work before
paying the monthly bills
would be a problem.
If you were to die
tomorrow, would
your family members
have enough money
to maintain their
lifestyles or would they
have to begin making
financial sacrifices
almost immediately.
How much of your
take-home pay is
earmarked for savings.
Do you feel like you’re
on track to save enough
money for your kids’
college education.
When is the last time you
reviewed the investments
in your 401(k) plan.
Is the balance on your
credit card statement
growing or shrinking.
Prote ction first.
Life insurance is a must.
S ave money regularly.
Make home ownership a priority.
Kee p de bt in check.
A simple investment strategy often works b est.
Plan for your children’s education.
U nderstand your employe e b enefits.
Make the tax laws work for you.
G et he lp from a professional.
How many of these issue s have you thought ab out re cently.
If you’re like most peop le , probably not enough. That’s why it’s a
good idea to se t aside time eve ry year to make sure your financial
plans are keep ing up with all of the change s in your life .
Now is as good a time as any to take charge of your family’s financial
situation and we hop e this brochure helps you accomplish that.
This brochure is a service of the Life and Health Insurance Foundation for Educ ation,
a nonprofit organization dedicated to helping consumers make smart insurance
decisions to safeguard their families’ financial futures.
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