As a financial firm, we work with “how much” questions all the time. As a team with life insurance expertise, one ‘how much question’ we hear quite often is, “How much life insurance coverage does my family need?”
With every day that passes, more and more risks come into play with an inadequate life insurance plan. Only you can decide how much you need, or if you need it at all. But if you do need it (and I bet you do), at least make sure what you have is working like you want it to.
September is Life Insurance Awareness Month. Why do we have life insurance awareness month and not real estate or mutual fund or investment awareness month? Because life insurance is a unique – and may be the most important product – in your financial portfolio.
I’d suggest you spend a few minutes with a knowledgeable person whom you like and trust, and make sure your life insurance coverage is exactly what you want it to be. And that will be something to celebrate.
I think about Waze a lot when working with families and business owners. We help them map out the ways (no pun intended) to financial security. Over the years, we reinforce that they are on the right track, even when they know where they are going and how to get there. Along the way, we identify potential delays, and we plan for and navigate around them.
This is part of our month-long series we hope will inspire parents to discuss financial literacy with their children. It’s never too early to start saving!
Whether it is for a large business or a small family, every financial plan needs good umbrellas. Risk management is not as sexy as saving and investing, but it is equally important (if not more so) and can waylay the best laid plans.
Since 1776, this country has done little to nothing to help its citizens learn about personal financial planning, and yet seems surprised when studies show that Americans are unprepared financially, savings rates are too low, debt is skyrocketing, significant risks are left unaddressed, etc. Going forward, we will be sharing thoughts and ideas here that we hope can be a resource for you and your family, and will help you achieve the safety, security and future you want and deserve.