5 Tips to Prepare for an Unclear Future – Insurance Planning is Financial Planning

by | Feb 27, 2018 | Financial Planning

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5 Tips to Prepare for an Unclear Future – Insurance Planning is Financial Planning

5 Tips to Prepare for an Unclear Future Insurance Planning is Financial Planning - 5 Tips to Prepare for an Unclear Future – Insurance Planning is Financial Planning

The rate at which the world is changing is faster than most people can process.  We find ourselves asking, what just happened and what does that mean? There is a constant ripple effect resulting from each change happening in the world. This affects you, your family, your close relations, the ones you love, your friends, your colleagues, etc.

In the midst of all these changes and challenges, many people sleep well at night while others are so stressed, they find it difficult to get a great night’s rest. So, what are some ways to achieve peace of mind?

  1. Start saving… today!

The amount saved is less relevant to building a habit of regularly saving. It’s this habit that will help you get ahead each month. Pay yourself first and then simply find a way to make up for it by more aggressively looking for bargains in your everyday spending. As for debt, you simply need a plan to help you manage it. Of course, if you have debt, protecting against a loss in income is super-important. Savings combined with insurance can help.

  1. Instead of thinking “what’s in it for me” think “what’s in it for us.”

When thinking about financial planning for your family, realize that it is a team effort. Learn to communicate things clearly, create a future plan together, and be clear about your mutual financial goals.

  1. In life, certain events will occur!

Life will throw many things at you. With a little planning they won’t overwhelm you. Sure there are the things you plan like buying houses and cars, or taking trips. However, there are other things that might be unexpected… You might discover you’re pregnant (surprise!). You might receive a pink slip and lose your primary source of income. As you develop a financial strategy, leverage the 3Ps – Plan, prepare, and protect to safeguard the assets you have.

  1. Think about insurance as part each major financial decision. Also, set a regular schedule to think about insurance.

Be aware that insurance will always part of the decisions you will have to make for every major life event. Having a regularly scheduled “insurance review” and revisiting all your insurance coverage for your major life events  helps ensure you have adequate protection. And when life changes occur, it’s best to include your financial planner and independent insurance agent in the discussions to get the best advice for your evolving situation.

  1. Have “go-to” people who can help you in difficult times.

Speaking of getting help… having people you trust that you can quickly reach out to in moments of uncertainty will ensure you make the best decisions and give you further peace of mind… (We’re here for you when you need us!!!)

Planning creates peace of mind!

People usually don’t like thinking about catastrophic events that could happen. People don’t like thinking about unforeseen dangers or risks to enable them to come up with a plan for each. Yet life becomes easier to manage when you consider these things and have a plan of action including insurance.

Did this article prompt a question? Reach out to us! We would love to hear from you…

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