Life investments that will bring value to your finances

Making investments is not an easy matter. There is a lot of careful consideration that needs to be done in order to make sure that you make the right decision. It is important to give a lot of thought to things that you will be investing in to, for the whole of your life or at least a significant chunk of it.

Life insurance

There are many people who do not like the idea of life insurance, but if it is carefully chosen it can be very valuable. It can add a great deal of money to your estate when you die and make sure that your loves ones are financially looked after. It is even possible to tie it up in a trust fund to help to protect it against inheritance tax. It can give peace of mind to know that your loved ones are looked after when you die and life insurance can be a good way to do this.

Property

Investing in property can be a good way to improve your finances when you are alive as well as giving you something valuable to leave behind. Once you have paid off your mortgage, you will no longer have to pay anything for where you live. This means that you will save a lot of money in rent. You may make improvements to the property which will increase the value. You may decide to downsize when your family leaves home and get some of the money out that is tied up. Otherwise you will have a significant item for your children to inherit.

Pension

A pension can help to care for you and a spouse during retirement, which is extremely important. Many people retire and find that they are a lot worse off which means that they cannot properly enjoy the free time that they have. By having a pension you have a source of income. This will take a big commitment with monthly investment over a long number of years but it will really pay off in the long term.

Shares

Investing in shares is something that needs to be done over the long term. Many people worry about the stock market. However, if you regularly buy shares then you can take advantage of the low prices by getting more shares for your money. Then as the value increases of the stock that you hold, then your investment will increase in value. You will have a lump sum that you can cash in to help for retirement or something that you can leave to your loved ones.

The In’s and Out’s of Family Insurance

It is a question that always gives families pause for concern, as there is never really a right time or a wrong time.

When is a good time to buy insurance?

You may think you don’t need health insurance if you are young and strong, with no known medical problems. Should you get it anyway?

This is only one of the questions facing people as they navigate a complicated insurance maze. Here are some other tips to think about when deciding whether or not to buy insurance.

1. Always Think About Life

If you have reached adult age and are no longer on your parents’ policy, you should think about life insurance of your own. However, single people without dependents may want to hold off. Once you get married, settle down and start thinking about children, that is the perfect time to consider life insurance.

How much life insurance you buy depends on how much you make. If you have arrived at a job where you know you will have a guaranteed salary that goes higher, then you will need to buy a policy that has roughly 20 times the value of a year’s salary. So if you make $100,000 a year, carry a policy worth two million dollars.

Likewise, if you have reached retirement age and do not have any need for assistance – let’s say you either hit the lottery or you invested wisely enough to live comfortably for the rest of your days – then having a life insurance policy would be redundant. Should you pass away, your money, should you choose, will go to your beneficiaries.

2. There’s No Place Like Home

Having a home policy is an important part of owning your own house. You need to insure against terrible acts such as fire, earthquake or tornado affecting your property and tearing it to shreds. However, think about what you need in terms of home insurance. If you have an option built into your mortgage payment where part of your payment goes to taxes and insurance, then you do not need to go any further.

If you have important valuables in your house, check with your company to see if they are covered underneath that policy. If not, then you may want to think about a little extra payment to cover those, or even a small separate policy should take care of the valuables. It is best to play things safe.

3. You Can Drive My Car

Most states require you to have auto insurance before you purchase a car. For items such as deductibles in personal injury and property damage, calculate a deductible you will be able to pay should an accident be your fault and then buy your insurance at that rate. Do not go for just minimum coverage. Buy enough to cover the cost of a car.

Your insurance provider will be truthful to you about what is and is not necessary to purchase for the type of car you own. Check with a company like 21st for a selection of insurance policies at affordable rates.

4. To Your Health

The Affordable Care Act is meant to make sure everyone has some form of health insurance, in order to make rates go down. A potential problem exists here, however. The Internal Revenue Service can force you to pay a penalty if you do not have health insurance. That penalty, even in later years, will be much less than the cost of a health policy.

Many people may choose to simply pay the penalty instead of buying insurance, simply because it is much less expensive. This means, although it wasn’t the government’s intent, it may be in your interest not to buy health insurance if you don’t work for a company that offers it. Time will tell if rates come down or this mandate will be adjusted, but for now it is a viable idea.

Tips like these should help you save money or spend it where you need to do so wisely.

It is the perfect way to insure a good future.

Previous Job Working with Corporate Employee Benefits Broker

I worked in an office with a corporate employee benefits broker prior to leaving due to being sick all of the time while pregnant with my second child. I remember while working there that I learned so incredibly much about health insurance, short & long term disability and life insurance plans as well as dental and many more. I can’t believe the wealth of information inside my brain from having held this position!

One of the things I do recall while I was working there is that the whole medicare part d started up and things got a little bit more confusing for me. I still don’t fully understand this because it doesn’t affect me at my ripe age of 29 almost 30 years. I do know that it affects my grandparents possibly and maybe even my great grandparents.

That is why I am so thankful there are many consumer guides out there to help others, who haven’t held a position learning health insurance plans before. People need real language so that they can fully understand just what they are getting themselves into or what they need to have proper coverage should they go ill.

I will let you in on a little secret .. I LOVE reading health insurance plans, truly LOVE it. I miss that job.

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Ever Think About The Future?

I am talking about the future of your elders … seriously if you think about it, everyone hopes that their children will out live them and in most cases that does happen. Today I am talking to you about Burial Insurance, do you ever think about this? I personally do not think about it and I think that everyone should regardless of age.

Insurance for seniors seems to be something that would be very important if you are going to be the one taking care of your elders in the family. I know that when my father gets too old that I will be stuck taking care of him. I know this because he has already put in requests for his own little space wherever I may be living when he needs to have someone take care of him. I don’t know, not every senior ends up needing that extra care but life is not forever and that is why I am writing, to be curious about your future plans?

You can also get your elders or yourself to get joint life insurance quotes just to be certain you are paying the right price and getting the right coverage for your family needs.  I don’t know about me yet but I do know that I do not want to leave my children with a hefty bill to pay should something happen to me.

Do you have insurance on yourself or burial insurance? This is a new subject for me and curious if you have even thought about the topic before?

Never Thought Of This

As I watch people passing away locally and seeing people enter the funeral home down town and watch my sister who lost a good friend recently the thought of an aussie life plan comes to mind. I know that life insurance is very important because it can include funeral cover and accident cover which means no out of pocket costs or smaller out of pocket costs for the family who is covering all parts of the person who passed away estate.

I can’t imagine being the person in charge of a funeral and having to not only mourn the loss of my close friend or family member while still having to come up with out of pocket costs. When I was younger, age 5, my aunt passed away and of course I was way too young back then to know the financial parts of everything, but I do remember she had gone to a very expensive college. I have no clue if the tuition had to be paid back, if there was any life insurance coverage on her or anything but if not I am sure my grandmother went through a financial struggle trying to cover all the details of the untimely death.

Death makes me sad, it really does and so when I think of the idea of losing a close friend or a family member I worry about the financial situation that the person in charge of the estate could get stuck with. It’s hard enough mourning the loss of someone who you were very close to without having to add the financial stress to it.

Questions for thought: Do you have life insurance? Do you think it is important to have?

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