Do you have a financial plan set up to protect your loved ones after you pass away? With a well-thought-out life insurance plan, you can do just that. The purpose of life insurance is to help provide a measure of financial well-being for your family and loved ones when you are no longer there. With the purchase of a carefully planned life insurance policy, you can help ensure that your family and loved ones will be taken care of. Life insurance offers two essential benefits. First, it offers … [Read more...] about Using Life Insurance for Financial, Tax Planning
Ronald Stevenson
Re-Balancing Your Portfolio Allocations
In today’s uncertain financial landscape and based on the market run up we have seen in 2017, we believe it is more important than ever to establish a well-maintained portfolio that can help you reach your financial goals. Your portfolio needs to not only meet your need for capital, but also provide you with financial peace of mind. While there’s no simple formula to help you figure out how your portfolio should be constructed, determining the right asset allocation should be the first step … [Read more...] about Re-Balancing Your Portfolio Allocations
Ringing in Financial Tips for the New Year
For many people, the New Year means new goals and resolutions. Last year, nearly one-third of Americans made New Year’s resolutions, with half reporting that they want to save more, according to the New Year Financial Resolutions study from Fidelity. You may be one of the many who created a financial resolution – but will you stick to it? The key to success when it comes to your financial resolution is to take a realistic approach and focus on consistency rather than perfection. Typical … [Read more...] about Ringing in Financial Tips for the New Year
Understanding Basic Financial Concepts
Having financial literacy means being able to discern the major financial issues that most people encounter at one point or another, including debts, investments, emergencies and beyond. Sounds straightforward, right? But statistics regarding the average American’s relationship to money reveal otherwise: Roughly four out of every five U.S. workers live paycheck to paycheck. More than a quarter aren’t making monthly savings contributions. Nearly 75 percent are in debt of some … [Read more...] about Understanding Basic Financial Concepts
Is it Time to Schedule a Retirement Checkup?
When was the last time you reviewed your financial life? In the same way that it’s important to go to the doctor for a physical, comprehensive retirement check-ups are crucial to your financial success down the road. In today’s technology-driven world, it’s easy to put your finances on autopilot. From automatic deposits, online statements and automatic 401(k) contributions, it can be easy to leave your retirement plan unsupervised. But, how do you go about starting the retirement check-up … [Read more...] about Is it Time to Schedule a Retirement Checkup?
Creating Your Own Retirement Plan
Saving for retirement has become much more simple with automated savings for accounts like 401(k)s, but what do you do if you’re self-employed or work at a company that doesn’t offer a retirement plan? According to a study by the Employee Benefit Research Institute, fewer than half of American workers participate in an employment-based retirement plan. Whether you work for a small company that doesn’t offer retirement options, you’re a part-time employee that is ineligible for benefits, or … [Read more...] about Creating Your Own Retirement Plan
On Track for the Retirement You Want
When it comes to being prepared for retirement, you may not be as set as you think. According to TIAA’s 2017 Lifetime Income Survey, fewer than half of Americans are aware of how much they have saved for their golden years. Now is the perfect time to sit down and analyze your current financial picture and see how it stacks up to where you hope to be when you reach retirement. But where do you start? A good first step is to look at what you have saved thus far – this includes anything in … [Read more...] about On Track for the Retirement You Want
Do You Feel Prepared for the Cost of Long-Term Care?
According to Genworth Financial, the average annual cost of a private nursing home room in the United States is $92,378, while a home health aide runs about $45,760. Many people assume that Medicare and other forms of health insurance will cover these costs, but in reality, long-term care is not considered a medical expense and Medicare will only cover certain aspects. Medicaid will help many seniors pay for long-term care, but in order to qualify you will have to spend most of your assets, … [Read more...] about Do You Feel Prepared for the Cost of Long-Term Care?
Understanding the Financial Impact of Losing a Spouse
Losing a spouse is a painful and overwhelming event, and it can be both emotionally and financially shattering. According to a recent study by the Journal of Financial Service Professionals, the average age of widowhood is only 59.4 years, and 80 percent of married men will die while married. Their wives are often unprepared for such an event. How can you plan for a loss of a spouse? First, it’s important to gather and organize all of your financial records so that they are easily … [Read more...] about Understanding the Financial Impact of Losing a Spouse
Planning for Women’s Retirement Needs
At American Financial Investments, LLC, we believe that retirement planning can be different for women than it is for men due to factors like longer life expectancies, the gender pay gap, less time in the workforce and higher health care expenses. Although both men and women face challenges on the journey to retirement, an Investment News article states that women’s average earnings are about 21 percent lower than their male counterparts. Having a lower lifetime income means that their … [Read more...] about Planning for Women’s Retirement Needs