Personal Finances
Just about every financial consultant is giving individuals and families of the need to “Take the time to put their financial houses in order.” Why are they doing this? Because the national economy and particularly the economy of the state of Michigan in such turmoil which has caused many families to fall into what is referred to as a “recovery” or “survival” mode, because their financial houses have been shaken or are completely upside down.
The year 2009 brought about many changes. Instead of financial security, many find that their situation is one of financial instability. Companies downsized with layoffs and firings running rampant and many just simply closed their doors. For the few that did remain open, they tried to reduce employee benefits, wages, health care and life insurance, just to survive.
The best advice is for individuals to create a financial “to do” list. This list should address all the issues you may face that effect your financial house. For example, many automotive retirees who thought they had significant amounts of life and health insurance were shocked when their companies suddenly changed their coverage policies. This resulted in many scrambling in order to determine how much additional insurance they needed in order to compensate for the amount they lost when their benefits were changed or were lost.
The following suggestions may help in getting your financial house in order:
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Review all your insurances, including life, health, disability, long-term care, and casualty. Insurance is not an exciting topic, but it is one that cannot be ignored.
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Review all your debts, from credit cards and mortgages to auto loans, boat loans or any other long-term obligations you may have. The rates and terms of your loans are important. You need to keep them under control.
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Get your legal affairs in order. Do you have a will? Don’t just have one, keep it up to date.
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Monitor your savings and investments. Do you have adequate cash reserves? Do you have an investment goal? Do you have a plan to achieve it? If not, do you need a workable plan?
Where can you turn for help? The Wayne Turner Financial Group is prepared to help you to ward off unforeseen events that can instantly knock your financial house for a loop. We are offering our special clients a free financial check-up. This check-up will bring your current financial situation to light and show you where your finances stand today and what you need to do to prepare for tomorrow. This complimentary service covers:
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Debt Management – strategies for paying off your debt
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Retirement Income – how much money you will need to prepare for your retirement
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Education Funding – strategies you will need to fund your children’s education
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Income Protection – strategies to ensure your financial future
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Building Your Financial Future – your new financial plan of action for the coming year
Don’t sit around another year wondering what to do. To get started, download our “Your Personalized Financial Needs Analysis” form, fill out both sides of the attached form and return it to Bill Turner at The Wayne Turner Group. You can fax (248) 552-6609, email billyturner@thewayneturnergroup.com, or call us (248) 552-6606 with your vital information. This financial check-up is completely confidential.