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Welcome to Investing and Insurance, your definitive guide to mastering these key components of financial wellness. We'll break down investment strategies and insurance policies into understandable concepts, helping you make informed decisions. Whether you're a beginner or seeking advanced knowledge, this guide will equip you with the skills to confidently navigate your financial future.
Picture this: You’ve just graduated college and received your first '“big-kid” job. You have about $20 in your name. Although it is a new concept, with a new job comes new responsibility, and you decide you should probably be more mindful about your spending (and saving) habits. But how do you start?
A dividend is when a publicly listed company pays out a portion of earnings to shareholders. These can be paid out in cash or given as additional stock. These are given out to reward investors for entrusting their money with the company.
A financial plan is a personalized strategy that outlines where someone’s money goes and how to finance their needs and goals. Who needs a financial plan? Everyone should have a financial plan. They do not all have to be complex. Many are simple.
Many people dream of one day receiving a considerable sum of money, whether through a large inheritance, winning the lottery, or selling their business or home. Whether the windfall is expected or not, without a plan, coming into a lump sum of money can be overwhelming at first and emotionally draining once the dust settles.
If you already have a 401(k), IRA or other retirement account, congratulations! You’ve taken a huge step to securing tomorrow for “future you.” But what do you do with the money once you’ve contributed it to your plan, or put it into your account? If you want it to grow, you’ll need to put it to work — or invest it — and there are two basic ways to do that.
If the pandemic taught us anything, it’s that you can never be too prepared. We all need a protection plan in place, which includes a few essential elements: An emergency fund, health insurance, a basic estate plan and – for many of us – enough life insurance.
Nothing says “love” like life insurance because you are making sure the financial needs of those you love are taken care of even after you are gone. Because life insurance is a key part of your financial plan, it’s important to make a smart, informed decision before purchasing coverage. Consider the following questions when shopping for the right fit for you and your loved ones.