Raising a Family?

You have life goals for you and your family.  Life goals can be some of the largest, but often the most fulfilling, events for which you'll pay.  You'll need to protect them and save for them.

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Emergency Reserves.  Many professionals recommend having 3-6 months of expenses on hand for emergencies.  In some cases, it may be wise to have as many as 12 months of expenses set aside.  This will help your family be prepared in the event of a job loss, temporary sickness, tires for the car, etc.
Life Insurance.  Is there any life goal that's not directly dependent on your (or your spouse's) ability to earn income?  What impact would your death have on household income and expenses?
Disability Income Insurance.  An even greater risk than that of passing away is becoming sick or hurt for longer than 90 days and not being able to work.
Long Term Care Insurance.  Whether you're approaching your 50's, or you're concerned about who will care for your parents, or both, the cost of long term care services has crossed your mind.
Auto, Homeowners, Recreation Vehicle and Liability (Umbrella) Insurance.  While this is not an area of insurance in which I'm licensed, I encourage you to have important discussions with your agent about coverage amounts, deductibles, liability limits, etc.
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401(k).  Many employers offer matching funds for employees' contributions.  Whether it's a 50% match or 100% match, it represents additional compensation from your employer, just for participating.
Roth IRA or Traditional IRAs.  Whether a tax deduction now, or tax-free income at retirement, is more important to you, an IRA (traditional or Roth) can be an effective way to save for retirement.
Annuities.  As described on our home page, annuities are contractual agreements in which payment(s) are made to an insurance company, which agrees to pay out an income or a lump sum amount at a later date.
Mutual Funds.  Whether owned in a retirement account or not, mutual funds allow you to own a diversified portfolio of stock, bond, or money market investments.  Be sure to read the prospectus before investing.
Regardless of the type of account you use, tax-deferred, tax-free, and/or taxable, you will want to follow a prudent investment plan.

As your family grows, life doesn't get simpler; it gets more complex.  What if you could bring all of your information together in one safe, secure place.  While some of the services featured in this video are available for an additional fee, the personal financial homepage, daily updates of account balances, and mobile access are a complimentary service to our clients³.

Click here to request a Personal Financial Homepage.

1 The Life and Health Insurance Foundation for Education (LIFE) is a nonprofit organization dedicated to helping consumers make smart insurance decisions to safeguard their families’ financial futures.  LIFE does not endorse any product, company or insurance advisor. www.lifehappens.org
2 There are contract limitations and fees and charges associated with annuities, which include, but are not limited to, mortality and expense risk charges, sales and surrender charges, administrative fees, and charges for optional benefits. A financial professional can provide cost information and complete details.  
3Online features require Internet access and are subject to change. Services vary among participating financial institutions or other parties and may be subject to application approval, additional terms, conditions and fees. More than 1600 participating financial institutions as of June 2009.