No matter where you are on life’s journey, it makes sense to do an insurance “audit.” What are the important types of insurance to have right now — given your age, family and professional responsibilities, financial situation and goals?
No matter where you are on life’s journey, it makes sense to do an insurance “audit.” What are the important types of insurance to have right now — given your age, family and professional responsibilities, financial situation and goals?
If someone asked you to name your most valuable asset, you might say that it’s your home or car. Yet while these are significant belongings, this answer overlooks the most valuable asset of all: your ability to work and earn an income into the future. People make sure to have insurance to protect their homes, cars, and other physical assets in case of an emergency. But do you have protection for this intangible asset — your future income? What would happen if you got sick or in an accident and had to stop working? No one likes to linger on scary thoughts, but having insurance to supplement income during an emergency helps a lot. This is where disability income insurance comes in.
Physical fitness and financial fitness are inextricably linked, says financial advisor Pamela Gilmour. Ignore your health or your wealth, and it can catch up to you. The parallels are striking. When people live an unhealthy life in their 20s, 30s and 40s, the risk of disease and debilitating conditions grows. By the time people reach their 50s, medical care often becomes an expensive necessity. Likewise, those who ignore their finances — keeping credit cards maxed out and living paycheck to paycheck — live with high levels of unhealthy stress. When they reach their 50s and start thinking about retirement, a new reality sets in: They may arrive at retirement without enough to live on. Pamela Gilmour, CEO of Financial Fitness in Towson, Maryland, has been providing financial planning for over 25 years. A golfer, runner and certified Yoga instructor, she defines financial fitness as having the financial means to live the life you want without undue stress. How do you know if you’re financially fit? She says the following warning signs suggest you may need to give your finances the same attention you give to your workouts.
Digital interviewing has become commonplace ever since the COVID-19 pandemic. These interviews are beneficial to job seekers and recruiters alike. Recruiters can find the best candidates, while job seekers know they can secure employment safely. That leads many to wonder how preparations for digital interviews differ now. Much like preparing for a first date, there are things you should do to get ready for your first remote, digital interview. Here are several tips to help ensure you’re well prepared.
Owning a small business is a dream for millions of Americans. It’s exciting, but it’s also a huge commitment that comes with a unique set of challenges, including planning for the unknown. Did you know that whole life insurance can be a pivotal part of that strategy?
The well-known marriage vow is, “‘Til death do us part,” but fatalities aren’t the only things in life that could possibly drive a relationship apart. You could suddenly find yourself caring for your spouse emotionally and financially after an unexpected injury or illness. The physical, financial and psychological stresses of being unable to work can be taxing for the healthy spouse in many ways. Unfortunately, you can’t consult a crystal ball and be clued in on all the good and bad that will happen in the future, but you can be prepared in the event of everything in between “‘Til death do us part,” and “‘Til your spouse gets hurt or sick and can no longer do his or her job.”
Everyone benefits from having a strong financial role model. But examples of good money behavior can be hard to find, particularly for people raised in families where money was never discussed. Without seeing healthy relationships with money, however, people can get stuck in their own detrimental habits, such as overspending and undersaving. Plus, it’s hard to envision a long-term financial plan without someone illuminating the road ahead. For those wanting to build a better financial life, the Guardian Study of Financial and Emotional Confidence TM offers inspiration. The 2021 study surveyed over 5,000 full and part-time American workers with median household incomes of $112,000. Over the course of the study, four different financial profiles emerged: Day-to-Day Decision-Makers, Retirement Realists, Ambitious Spenders, and Confident Planners. There’s a broad range of financial habits among these four groups, and when it comes to model behaviors to emulate, the Ambitious Spenders and the Confident Planners lead the way. Here’s why.
The key to a successful career launch is to begin with a solid financial foundation. If you or someone you love is a new graduate or a young person at the beginning of their career, this might seem easier said than done. Setting goals, negotiating for a position, or figuring out your desired salary range involves more than taking the first offer that comes your way. But these are important considerations to start your career off right.
