September 2, 2013
If you care about your family, you may be one of the thirty-three percent of the people who believe that they do not have enough life insurance to enable the family to continue their regular lifestyle in the event that their untimely death. Yet, some do not believe in planning for the family’s financial future. Because they live paycheck to paycheck, they do not have the extra money to purchase life insurance.
Approximately 25% of Americans do not have a savings account, For these people it may be difficult for them to set aside money for life insurance, since they do not have an emergency fund to carry them in time of need. If they are not accustomed to planning their household finances, then they will not be disciplined enough to pay for life insurance.
What needs to take place at this level is a serious examination into how money is being spent. This could result in a revelation of their spending habits. It helps to spend a week writing down each transaction that is being made with the budget. If couples or individuals could commit to doing this they would be surprised. After all is done, they should see where the budget could be trimmed
For younger couples in their twenties, thirties and forties, the Gen X and Y populations, life insurance is not as expensive as one would believe. It is actually more economical to buy life insurance at this age and hold onto the policies. However, priorities may be different. Younger people have difficulty believing that they could die ay such a young age, even though they may have experienced the death of a classmate or friend.
Many parents today would not like to think about the possibility of their children dying prematurely an, therefore, fail to purchase life insurance or accidental life insurance on their children.In 2010, 2700 teens between the ages of 16 and 19 were killed in motor vehicle accidents in the United States. Another 4400 teens died because of bullying and/or suicide. While suicide is not a covered event on life insurance or accidental life insurance policies, it is enough to make parents aware of the need to purchase life insurance on the children.
In conclusion, parents have a greater need today to purchase life insurance for all members of the family.
Technorati Tags: life insurance
August 25, 2009
Photo by I Busca
With fewer larger banks unwilling to purchase troubled banks, the FDIC is now looking
to private investors to bail out these banks. Private investors recently extended funds to CIT Bank to keep it from bankruptcy filings.
Since private investors tend to cut costs by eliminating jobs, unions are against private investors getting involved with acquiring distressed banks.
The involvement of private investors would relieve the U.S. of their intervention in some of the failed banks earlier in this economic crisis. Warren Buffet recently made a statement that the U.S. “must address the massive amounts of monetary medicine that have been pumped into the financial system and now pose threats to the world’s largest economy and its currency.”
The federal deficit reached an all-time monthly high of $180.7 billion for the month of July 2009.
November 14, 2008
Since my backgound is in financial services, I will be speaking from a financial perspective. I am very concerned as are most people are, about the state of the economy. As a nation we are suffering from the consquences of having too much debt. Did anyone ever think that this attitude would catch up to us at some point in time?
I am hoping that someone has the answer to this problem. We have to manage the debt that we have in this country. Not only has it affected this country, but it has affected other countries as well. Debt has become a way of life for us. The only way to reduce or eliminate it is to stop desiring the things that would lead to living a lavish lifestyle. This is going to take some discipline. We’ll be suffering from withdrawal symptoms, but the longer we subject ourselves to this process, the easier it will be to say “no” to more spending.
Children should be educated on handling debt and using credit cards responsibly. Ideally, they should not be approached by the banks unless they understand the responsibilities that go along with using them. However, there are reports that the banks are targeting teens as well as college students about their services.
Press Release: Gail Cavanaugh’s Business Solutions Informs Teens about Credit Cards
© Gail Cavanaugh and Cavanagh Business Solutions, 2008. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Gail Cavanaugh and Cavanaugh Busines Solutions Blog with appropriate and specific direction to the original content.
Kids waiting by Anne Bradshaw, courtesy of Morguefile