Hazard #1



It's not going to do you much good to build up wealth if you let it slip through your fingers. It's not the fun stuff when you think about money, but it's the most important, if you or your family face any catastrophes along the way. And yes, I mean life insurance. If you died tomorrow, would your loved ones have money to pay some of the biggest expenses, like college or the mortgage balance? Would they be able to stay in your house and still pay the bills? That's the value of insurance--providing shelter and an income stream to help ensure your goals are reached. And remember to start with the amount of coverage you need first, which may likely be term insurance. Worry about any cash value policies after you've covered your bases. Most folks I meet with, have too little insurance, and the wrong type.

Hazard #2

Another possible wealth destroyer is the rising cost of medical care in your later years. One report says that 43% of people age 65 are expected to spend some time in a nursing home. Long term care policies can help keep you or a family member in your home longer with home health care as well.

Hazard #3

Lastly, consider how you're protecting your home and personal property. When was the last time you had your homeowner's insurance reviewed? What about an accident on your property? Do you have umbrella insurance? If you want an objective second opinion, find an agent who represents several companies and has been in the business for several years. Don't choose by price alone, as cheaper may work for clothing sales, but be careful when it comes to protecting your home and family from some costly risks.

The benefit to you will be the peace of mind to help you sleep at night, knowing there's a strong safety net in place for you and your family. And less stress in your life is one of the best investments you can make!

Did You Know?

60...Percentage of retirees retired earlier than they had planned

26... Percentage of parents with children age five and older who feel well prepared to teach their children basic personal finances

60... Percentage of Americans with employer-based health insurance that reported increased costs

81... Percentage that say rising health care costs have prompted them to take better care of themselves

48... Percentage of Americans that used a large gift of money from living relatives and used the money for a home down payment; 14% to buy a car and 11% toward college education