How Much Money Should be in Your Emergency Fund?

1 Mar

As the world is changing faster than ever, it’s crucial to establish emergency savings so you can be prepared for any financial changes as they come. Setting up an emergency fund is one of the best ways to start saving now.

How much is enough to have in savings? The general rule of thumb is to save three to six months’ worth of living expenses, but that guideline might not be possible or right for every family. Here are factors to consider when deciding how much money you should stash away:  More>>

The 2 Things Your Clients Need to Know About Life Insurance

27 Jan

Advisors have the opportunity to be Romostradamus for their clients by clearly explaining two concepts in permanent life insurance policy design — funding level and growth potential. These two basic levers are easy for clients to understand and can readily help advisors explain why one policy type or structure would be a better fit for a client’s goals than another structure. More>>

How the Pandemic has Affected Financial Planning

18 Jan

Many of us are feeling the effects of the COVID-19 global pandemic, especially when it comes to managing our finances. We recently surveyed hundreds of consumers about how COVID-19 has impacted their money. Nearly half of the respondents agreed that the pandemic has influenced the way they handle their finances and how they save for the future. More>>

Money Moves You Will Be Thankful For

28 Dec

There is no time like the present to start improving your finances. “Procrastination is the No. 1 reason people fail in retirement,” says Luke Lloyd, wealth advisor and investment strategist with Strategic Wealth Partners in Independence, Ohio.

However, it’s not just your retirement that will benefit from being proactive about finances. You can save money on debt, eliminate headaches for your heirs and free up cash for the things you want by making the following 14 expert-backed money moves. More>>

Who are You Thankful for This Year?

23 Nov

Who are you thankful for this Thanksgiving? You likely have some relationships in your life that are extra meaningful. Perhaps you’re thankful for a spouse or partner? Or maybe your children? Or perhaps siblings, friends, or even coworkers?

Do any of those individuals rely on you for financial support? Do you have a spouse who relies on your income? Or perhaps minor children who depend on your financial means? More>>

How to Maximize Tax Savings from Workplace Perks at Benefits Enrollment Time

9 Nov

Take a few minutes to review your workplace benefits for next year. Your household finances for 2021 could depend on it.

After one of the most difficult and financially stressful years for many Americans, digging back into the details of workplace benefits like health savings accounts, or HSAs, and flexible spending accounts (FSAs) is probably the last thing you want to do.

Overcome that fatigue and get to it. More>>

Life Insurance Death Benefits

19 Oct

Life insurance comes with a number of advantages. One of the biggest draws is being able to financial support your family members after you pass away. Most life insurance policies include a death benefit, which your beneficiaries receive after your death. That money can be used to cover funeral expenses, repay outstanding debts and replace lost income. More>>

COVID-19 Sparks New Family Conversations Around Financial Matters

14 Oct

New report from Life Happens highlights how the pandemic has prompted a shift in Americans’ financial knowledge and behaviors.

Two-thirds (67%) of Americans say that the pandemic has been a wake-up call for them to reevaluate their finances, according to a new study by Life Happens, a nonprofit dedicated to educating consumers about the importance of life insurance and other related products for sound financial planning. More>>

What Your Clients Want to Talk to You About: Survey

7 Oct

Clients’ trust in and satisfaction with their financial professional increases when both parties willingly broaden their conversations and engage in a more transparent, holistic approach to financial and future planning, according to a new study from AIG Life & Retirement and the MIT AgeLab. More>>