Month: March 2017

When investing, particularly for long-term goals, there is one concept you will likely hear about over and over again — diversification. Why is diversification so important? The simple reason is that it helps ensure that your risk of loss is spread among a number of different investments. The theory...

If you want to limit potential losses while participating in the potentially attractive returns of a market-driven investment but would also like a guaranteed return, an indexed annuity might be worth checking out. The performance of indexed annuities, also referred to as equity-indexed or fixed-indexed annuities, is tied to...

Annuities are insurance-based financial vehicles that can provide many benefits sought by retirement-minded investors. There are a number of reasons why people buy annuities. Deferral of taxes is a big benefit, and so is the ability to put large sums of money into an annuity — more than is...

An indexed annuity (IA) is a contract between you and an insurance company. You pay premiums in a lump sum or periodically, and the issuer promises* to pay you some amount in the future. The IA issuer also provides a minimum guaranteed* interest rate on your premiums paid. With...

At any age, health care is a priority. But when you retire, you should probably focus more on health care than ever before. That’s why it’s particularly important for women to factor in the cost of health care, including long-term care, as part of their retirement plan. How much...

Are you suddenly on your own or forced to assume greater responsibility for your financial future? Unsure about whether you’re on the right track with your savings and investments? Finding yourself with new responsibilities, such as the care of a child or an aging parent? Facing other life events,...

As a woman, you have financial needs that are unique to your situation in life. Perhaps you would like to buy your first home. Maybe you need to start saving for your child’s college education. Or you might be concerned about planning for retirement. Whatever your circumstances may be,...

  Women face special challenges when planning for retirement. Women are more likely than men to work in part-time jobs that don’t qualify for a retirement plan. And women are more likely to interrupt their careers (or stay out of the workforce altogether) to raise children or take care...

We all know men and women are different in some fundamental ways. But is this true when it comes to financial planning? In a word, yes. In the financial world, women often find themselves in very different circumstances than their male counterparts. Everyone wants financial security. Yet women often...

Answer: As parents, both of you will want to keep the best interests of your children in mind. That means you should compare your health plan with your spouse’s health plan and determine which one offers the most comprehensive health coverage and flexibility in choosing health-care providers. Your ultimate...

Answer: That depends on several factors. Perhaps the first step is to make sure your existing asset allocation is appropriate for your circumstances; if you haven’t reviewed it in several years, you should probably take a fresh look at it, whether or not you intend to consider his assets...

Answer: You are not responsible for your future spouse’s bad credit or debt, unless you choose to take it on by getting a loan together to pay off the debt. However, your future spouse’s credit problems can prevent you from getting credit as a couple after you’re married. Even...

The best time to plan for the possibility of nursing home care is when you’re still healthy. By doing so, you may be able to pay for your long-term care and preserve assets for your loved ones. How? Through Medicaid planning. Medicaid is a joint federal-state program that provides...

Answer: As you send your child off to college, you probably have a lot of things on your mind, such as whether your child will eat right and get enough sleep, how to pay tuition, and what to do with that empty bedroom. And although insurance may seem like...

As your child prepares to head off to college, probably the last thing on his or her mind (and yours) is health insurance. But getting sick or injured away from home can be an unpleasant experience–more so if your child doesn’t know his or her health-care options. You’ll want...

You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for your retirement and your child’s education at the same time can be a challenge. But take heart–you may...

When you refinance your mortgage, you take out a new home loan and use some or all of the proceeds to pay off the existing one. There are a variety of reasons why you may want to consider refinancing your mortgage, such as: Lowering your monthly mortgage payment by...

When you own cash value life insurance, your premium payments are allocated three ways. First, a portion of each premium pays for the actual insurance costs. Like term insurance, a specific cost is associated with the policy’s death benefit, based on your age, health, and other underwriting criteria. Second,...

Like dandelions in a spring lawn, credit card offers pop up everywhere–stuffing your mailbox, flashing on the Internet, even falling from the magazines in your doctor’s waiting room. And they all sound so attractive. “0% APR until next year!” “No fee if you transfer a balance now!” “Low fixed...

Being able to send your child to college is near the top of the wish list for most parents. A college education can open doors to many opportunities, and is increasingly necessary in today’s economy. But that diploma doesn’t come cheap. Unless you are very well off financially, it’s...

Maybe you’ve decided that graduate school is the path to advancement in your current job or your ticket to a better career. Or maybe you just want to take a few classes to upgrade your skills. Either way, returning to school as an adult often involves financial sacrifices. How...

Answer: When you buy a home using a mortgage loan, your home becomes collateral for the loan. If you do not repay the mortgage loan as agreed, your lender has the right to take your property and sell it to satisfy the debt, also known as foreclosure. Whether or...

Did you lose your Life Insurance from work? Get a FREE Term Life Quote here: https://www.naaip.org/gfsfinancial/compare-life# There are a number of ways you can smooth the transition to your next job. To begin, you’ll want to plan on your job search taking six months and budget accordingly. Your budget...

Answer: Yes, but the taxable portion of your distribution may be subject to a 10 percent penalty for early withdrawal if you’re not yet age 59½. If you are 59½ or older and take money from your traditional IRA, you will not be assessed a penalty, though you may...

Health Care During Transitional Periods The term “COBRA” is commonly used to refer to certain provisions of Title X of the Consolidated Omnibus Budget Reconciliation Act of 1986. This law provides an opportunity for employees and their dependents who have been covered by an employer-sponsored health insurance plan to...

What is it? By definition, a crisis is a turning point, a time when you have to make crucial decisions (often suddenly) that will affect your future. Although smart planning is the key to effectively dealing with periods of crisis, you may find yourself suddenly dealing with an unexpected...

Unemployment Compensation What is unemployment compensation? Unemployment compensation (also called unemployment insurance) is a federal-state system of benefits that pays workers who are involuntarily unemployed a portion of their wages until they are able to find another job. How is unemployment compensation funded? Unemployment compensation is financed by employer...

Coping with the Emotional Impact of Losing Your Job Job loss can cause stress Losing your job can exact an emotional toll on you and your family. Recognizing these emotions and dealing with them positively can go a long way toward helping you and your family cope with the...

Setting Up a Support Network When You’re Unemployed What is an unemployment support network? An unemployment support network is a group of people, organizations, or resources available to help you cope with issues that unemployed people must face. Setting up a support network when you’re unemployed is important for...

Surviving Financially When You’re Unemployed What is it? When you lose your job, you may have to put yourself on a financial diet. Just as losing weight is simple if you eat less (and exercise more), staying afloat financially is simple if you spend less. Is this process going...

Starting a Family Checklist General information Yes No N/A 1. Has relevant personal information been gathered? 2. Marital status? Time frame for starting a family 3. Has financial situation been assessed? Income Expenses Assets Debts and liabilities Insurance information Employee benefits available Notes: Money management Yes No N/A 1....

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Getting married is exciting, but it brings many challenges. One such challenge that you and your spouse will have to face is how to merge your finances. Planning carefully and communicating clearly are important, because the financial decisions that you make now can have a lasting impact on your...

Need Life Insurance? Click here: https://www.naaip.org/gfsfinancial/compare-life# What is it? Marrying someone with children means that your finances will become a lot more complicated as you take into account the needs of your spouse and any children who join your household. Many of the issues you confront will be the same...

What are tax issues related to marriage? If you’re married (or about to be married), financial planning is certainly important. It’s also important for you to be aware of the income tax ramifications of your decisions. Although there are a number of tax issues related to marriage, you should...

What is it? The way that you as a married couple structure the ownership of your real or personal property is an important step in the financial planning of your future together. Whether you own a piece of real estate or a checking/savings account, the method of property ownership...

Insurance Issues that Concern Married Couples What is it? If you are married or planning to marry, you should determine how marriage impacts your insurance needs. The lack of proper insurance protection can lead a married couple into financial ruin. If you already have disability or life insurance policies,...

https://www.naaip.org/gfsfinancial/compare-life# Money Issues That Concern Married Couples What is it? Marriage is an important step in anyone’s life and brings many challenges with it. One of those challenges is the management of your finances as a couple. The money decisions that you make now as a couple can have...

  What is it? Planning for marriage encompasses more than just deciding whether to serve chicken at the reception and whether you should take a honeymoon cruise. If you are planning for marriage, you are faced with the enormous responsibility of combining your personal finances with your spouse’s, and...

Banks will try to sell you Very Expensive Life Insurance With Your Loan. IT IS ALWAYS CHEAPER TO OWN YOUR OWN INDIVIDUAL POLICY THAN BUYING THE BANK’S “MORTGAGE INSURANCE”  GET A FREE QUOTE HERE: https://www.naaip.org/gfsfinancial/compare-life# Since most people finance their home purchases, buying a home usually involves applying for...

GET LIFE INSURANCE FIRST: https://www.naaip.org/gfsfinancial/compare-life# CLICK ABOVE FOR FREE TERM QUOTE General information Yes No N/A 1. Has relevant personal information been gathered? 2. Has financial situation been assessed? Income Expenses Assets Liabilities Notes: Choosing the right home Yes No N/A 1. Has a real estate professional been contacted?...