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Tools for Setting a Strong Financial Foundation



Protection

Insurance:  Life, Home, Health, Auto, Wills, Emergency Funds.

While you may think you can not afford certain insurance, if you find yourself without it in a crisis, you will wish you had it. It will give you peace of mind and provide for you and your family. Learn More

84% of consumers agree that most people need life insurance though only 59% say they have it.

Pay Yourself First

You will want to pay yourself a reasonable amount of cash that you can live with.  This money will be used for what your priorities are.

As of 2016, less than a 1/4 of Americans have enough savings to cover six months worth of expenses, and 26% of Americans have no savings at all. Indicating that over half of the country do not pay themselves first. Learn More

Debt

Here we will show you how to stack your debt and eliminate it! There is no better feeling than not having to worry about paying bills, talk about freedom!

Credit Cards: I can not stress this enough.  I speak from experience.  I am sure you know plenty of older adults, that have thousands of dollars in credit card debt.  The average American has $5,700 in credit card debt and the average American household has $16,050, at the end of 2016. Another staggering number is that 38.1% of all households carry some sort of credit card debt. Every year that number goes up. That number does not include any loans or any other expenses.  Crazy, right?

Debt Elimination: Don't create it.  Creating debt is the easiest thing you can do and the hardest thing to get out of. This will literally be a turning point in your life.  If you start getting credit cards and loans you are in trouble. You know why?  Most likely you don't have the money to pay the entire amount you purchased. So now starts the interest that is going to accumulate on your bill. Interest is calculated on the part of the purchases that you have not paid back. We are going to show you some examples of how this works, and how you will have paid way more than you think you did. Please refer to our webpage for an example. Learn More

Retirement

There are many retirement vehicles that fall into this category.  We will give you a few different types available to aid you in your retirement years.

The average working household has little to none retirement savings. When all households are included the average retirement account balance is $3,000 for all working-age households and $12,000 for near-retirement households. Based just on 401(k) accounts and IRA balances alone, 92% of working households do not meet retirement savings for their age and income. Even when counting their entire net worth, 65% will still fall short.

So much for the American Dream of retiring comfortably after a lifetime of hard work. Learn More

Roth IRA's, 401K, and many more, we will be filling you in on.  The sooner you start the more you will have to retire on

College/Higher Education Savings

Knowledge is power!

College, Trade schools, Vocational schools and Certificates in trades are always great to have in your tool belt. Be the best you!  Whatever you choose.

For this section we are going to assume you are 16 and older. Or a very wise 14-15 year old. Your parents may or may not have put aside for a college education for you. Even if they did, we are going to suggest different ways that you can help with the payment of your education without taking out thousands of dollars in student loans.

Student Loans: There are more than 44 million borrowers with $1.3 trillion in student loan debt in the U.S. alone. The average student in the Class of 2016 has $37,172 in student loan debt. An even more worrisome number is the 11.2% student loan delinquency and default rate. So it is very important to do your homework before making any huge financial decision that can impact the way you live the rest of your life. Learn More