Protecting It All
"Insurance is the only product that both the seller and buyer hope is never actually used."
-Unknown
Congratulations! You have learned about the basics around financial freedom. You have started to pay yourself first and begin to see the importance of your financial actions on your future. You've learned the terms and educated yourself regarding your investment options. You have broken ground on the start of your financial empire, but have you protected it all?
Is your financial future tightly secured?
What can you do to protect your financial future?
A lot!
In order to know where you are going you need to know where you have been. The same holds true for your path to financial independence. I have said it before and I will say it again,
No one cares about your finances more than you!
You must take ownership and responsibility! If you want the freedom, you have to remember it that it comes with a price.
Here are some areas that you need to focus on to make sure you are protected and that your financial footing is secure.
No one cares about your finances more than you!
You must take ownership and responsibility! If you want the freedom, you have to remember it that it comes with a price.
Here are some areas that you need to focus on to make sure you are protected and that your financial footing is secure.
What you can do to protect yourself!
These are the areas that you must know, guard, and value!
Your HealthBlood Pressure- 120/80 mm Hg
Cholesterol- less than 200 HDL- 60 or above LDL- 160 or less InsuranceLife
Health/Disability Home/Renter's Auto Will/Trust/Estate Plan |
Credit Scores300-629 Poor
630-689- Fair 690-719 Good 720-850 Excellent Know your NumbersAssets (Value)
Liabilities (Debts) Monthly Earnings/Expenses Interest Rates |
Account InfoLogin/Passwords
Organized, Updated, Safe/Protected Listen, Learn, and QuestionKeep learning from people/books/websites you trust
Ask questions Explore new ways to earn, save, and invest |
Create an Ice Folder
An In Case of Emergency binder contains a guide of how you live, run, and operate your finances and more importantly your life. It is a way that you can share critical information with others effectively and efficiently. Look at them as substitute plans, but the most important plans you will ever leave and for your life!
|
Names and contact information
(Important people) |
Lists of all your financial accounts/locations/ numbers
|
Logins and Passwords
|
|
List of your monthly bills/debts and how/when you pay them
|
List of your water/gas/electricity, etc.
|
Important documents (birth certificate, social security card, license, will, trust, estate planning documents, passport, tax returns
|
|
|