<img height="1" width="1" style="display:none;" alt="" src="https://dc.ads.linkedin.com/collect/?pid=319290&amp;fmt=gif">
Find An Advisor Subscribe to Blog

SUBSCRIBE FOR UPDATES

Get Out the Vote: Find Your Voting Resources

By NAIFA on 8/10/22 10:00 AM

Do you know how to register to vote? What are your state and local laws around voting early or by mail? Who's on your ballot?

Topics: Advocacy
5 min read

How to Handle Inflation

By EveryIncome on 8/8/22 10:00 AM

A majority of consumers today are suffering from the effects of inflation. We’re seeing inflationary rates that are akin to what happened in the 80s, so we’re talking decades ago. At the rate inflation is increasing lately, most people can’t afford what they’re used to and it’s causing financial strain on families everywhere. 

Topics: Planning in Advance Lifestyle Planning Planning Consequences investing Budgeting
2 min read

Planning Ahead: How to Cut Expenses and Build Your Savings

By EveryIncome on 8/5/22 10:00 AM

Many people have specific financial goals (e.g., filling a rainy-day fund, buying a house, paying down debt, or starting to invest), and most of these goals involve saving money. If you are struggling to put money away for your financial plans, reducing your spending may be necessary. Consider these tips to help you cut expenses and build your savings to facilitate your future financial plans.

Topics: Financial Planning Lifestyle Planning Financial Wellness Financial Literacy Financial Security Budgeting

Get Out the Vote: Know What's on Your Ballot

By NAIFA on 8/3/22 10:00 AM

Do you know what issues are on your ballot this November? If you live in Missouri, Arizona, or Iowa, there are tightly-contested primary races in your state.

Topics: Advocacy
6 min read

3 Ways to Budget

By EveryIncome on 8/1/22 10:00 AM

Do you want to get on a budget but don’t know how? You look at your income and expenses and your head just spins. How do you know where to budget and how?

Topics: Financial Planning Lifestyle Planning Financial Literacy Budgeting
6 min read

Understanding Uninsured and Underinsured Auto Insurance

By EveryIncome on 7/29/22 10:00 AM

If you’re in an accident and you aren’t at fault, generally the damages are the other driver’s responsibility. But what happens when that person doesn’t have insurance? Even though it’s the law, many people still drive without insurance or without enough insurance to cover the damages. As much as 13% of drivers are uninsured.

Topics: insurance

Get Out the Vote: Know Your Legislators

By NAIFA on 7/27/22 10:00 AM

Do you know who your legislators are? Fewer than half of Americans do. That's why we created NAIFA's Get Out the Vote. You can find information about your local, state, and federal elected officials, including how to contact them and tips for writing to and meeting with them. Legislators want to hear from their constituents and your input directly impacts their actions!

4 min read

A Couple’s Guide to Building a Budget — Without Killing Each Other

By EveryIncome on 7/25/22 10:00 AM

Money can be a big challenge for relationships, especially for couples on a budget with limited income or a lot of debt. Overwhelming debt, lack of communication, and financial secrets can lead to arguments, guilt, finger-pointing, and resentment. Here are the steps to help.

Understanding what a budget is, what it can do, and how to build one together can help couples address problems in a healthy, positive way as they work toward mutual financial goals.

A budget is simply a roadmap for dividing household income into expenses (including mortgage, groceries, and discretionary spending). Building a budget together means agreeing on the roadmap and helping each other stick to it.

Topics: Financial Planning Benefits of a Financial Advisor Financial Wellness Financial Literacy Financial Security Budgeting
3 min read

Win Havir Advocates for Financial Literacy in Diverse Populations and Recruiting Diverse Talent

By Ronan Friend on 7/22/22 11:50 AM

What’s your money story?  

NAIFA member Win Havir, CPCU, CLF, LUTCF, LACP, describes a “money story” as how we conceptualize and relate to money and finances in a new article in California Broker magazine. Havir grew up in East Los Angeles as the child of a Chinese immigrant. When she was a child, her father would often say “We don’t have any money.” This mantra affected her developing inner narrative. “I was embarrassed and didn’t understand why we stood in line to get huge blocks of orange cheese, powdered milk, and a loaf of white bread,” she says. As she grew older, she realized that this mindset helped her be empathetic and assist others in achieving financial literacy.  

Now, Havir works to promote financial literacy in underserved populations. She emphasizes the importance of serving diverse populations as well as recruiting diverse talent into the insurance and financial services industry. 

Topics: Talent Development Center Diversity & Inclusivity women
2 min read

Why You Should Consider a Career in Financial Services

By NAIFA on 7/22/22 10:00 AM

Are you looking for a new career? A career in insurance and financial services could be the best decision you can make for your future. As an insurance agent or financial advisor, you can work with a variety of clients—individuals, families, small businesses, or large corporations—to find financial solutions that meet their needs.

Let's look at some of the benefits of a career in insurance and financial services and the perks that come with it.

Topics: Careers in Financial Services

Get Out the Vote: Know Your Polling Dates

By NAIFA on 7/20/22 10:00 AM

Do you know when your next local and state elections are?

Most Americans know that presidential elections are held every four years in November, but do you know when your state and local elections are? If you live in one of 17 states—including Minnesota, Florida, and Vermont—you have an election coming up next month!

Find your election dates, state voter information, and much more with NAIFA's Get Out the Vote. This easy-to-navigate site is your one-stop shop for voting information. Check out everything GOTV has to offer today!

1 min read

NAIFA's Get Out the Vote: Your One-Stop Shop for Voting Resources

By NAIFA on 7/15/22 3:48 PM

Has it been a few years since your last civics class? Don't worry—NAIFA's Get Out the Vote is the resource for everything you need to know about voting, legislation, and your elected officials.

2 min read

How Millennials Can Plan for the Future with a Financial Advisor

By NAIFA on 7/15/22 10:00 AM

The millennial generation has grown up in an era dominated by rapid changes in the economy. In recent decades, the responsibility of saving and investing has been largely delegated to individuals, as opposed to previous generations where this was mainly the role of governments and employers. Improved standards of living have also translated to increased life expectancies among millennials. The implication of this is that young people today have to make sound financial decisions to achieve financial security in retirement.

Topics: Retirement Planning Financial Planning Planning in Advance Retirement Legacy Planning Tools Financial Literacy Retirement Plans Financial Security
1 min read

How Can I Help My Parents Figure Out Medicare Coverage?

By NAIFA on 7/11/22 10:00 AM

When considering applying for Medicare, you need to know what your options are. The Improving Medicare Coverage Act has made distinct changes to the lives of Americans, leading to improved health benefits. Many Americans over the age of 60 live with little or no medical insurance, making it difficult for them to have access to proper medical care.

There are several groups of people who are eligible for the Medicare program. The program caters to persons aged 65 and above, young people with some disabilities, and persons suffering from end-stage renal failure. Elderly persons above the age of 65 can receive Medicare under two different plans: Part A (hospital insurance) and Part B (Medicare insurance).

Topics: Financial Planning Medicare
2 min read

How to Detect Financial Exploitation of the Elderly

By NAIFA on 7/8/22 10:00 AM

The elderly in our communities are all prone to getting scammed at some point. Many perpetrators of such exploitations take advantage of the fact that seniors are old, and hence an easy target. A number of these con artists use technology to serve their purposes since most elderly people are not tech-savvy. They may use calls and emails or pose as salesmen to achieve their goal of getting financial access to the unknowing elderly person.

The risk is imminent, and we have to remain vigilant to protect our elders from these vile perpetrators. To that end, we have come up with 4 red flags that you should look into when you suspect foul play.

1 min read

Bank Account Bonus Month

By National Today on 7/1/22 3:55 PM

This month is Bank Account Bonus Month! If you haven't started a bank account, this is the month to do so.

Topics: finance Financial Security
6 min read

How to Choose an Auto Insurance Deductible

By EveryIncome on 7/1/22 10:00 AM

You need car insurance – it’s the law, but as long as you have the minimum coverage required in your state, the rest of the decisions are up to you, including the amount of your deductible.

Knowing how to choose your deductible is important. It’s the amount of money you must pay if you file a claim. It’s not an optional payment, so knowing how to choose yours wisely is important.

Topics: insurance
5 min read

Reverse Mortgages: No Longer Just a Loan of Last Resort

By Fairway Independent Mortgage Corp. on 6/24/22 10:00 AM

Many people have very strong opinions on reverse mortgage loans. Frequently, those opinions are based on misconceptions about what reverse mortgages are and how they work. One such fallacy that continues to live on is that reverse mortgages are just a loan of last resort—something that’s only for cash-strapped homeowners to utilize when all other viable solutions have been exhausted. 

In a recent New York Times article titled Reverse Mortgages Are No Longer Just for Homeowners Short on Cash, the author writes: “It was conventional wisdom that a reverse mortgage was a last-resort option for the oldest homeowners who desperately needed cash. But a growing number of researchers say these loans could be a good option for people earlier in their retirement […] who are not needy at all.”

Topics: Retirement Planning Financial Planning Planning in Advance Lifestyle Planning Reverse Mortgages loan Financial Security
6 min read

Using Your Tax Refund to Improve Your Credit

By EveryIncome on 6/20/22 10:00 AM

Are you expecting a tax refund this year? What if instead of spending the money before you even have it in hand you use it to improve your credit?

If you have poor, fair, or even average credit, your credit score could use a boost and your tax refund could be the perfect way to make it happen.

Here’s how to use your tax refund to improve your credit score.

Topics: Financial Planning Tax taxes Financial Literacy
2 min read

4 Ways Inflation Affects You

By NAIFA on 6/17/22 10:00 AM

Inflation is the increase in the prices of goods and services over time. The current inflation rate is 8.6%. When the inflation rate is high, you'll spend more money on buying goods and services. Therefore, inflation leads to an increase in the cost of living.

Higher interest rates can mean more money in your savings, but it can also have a dramatic impact on your cost of living. Keep reading to learn the basics of inflation and how it affects you.

Topics: Lifestyle Planning Budgeting

How Not To Tear Your Family Apart: Things That Bring You Joy

By Carroll Golden on 6/17/22 9:30 AM

Life can be unpredictable and challenges will arise. We cannot always control our circumstances, but we can control our perspective and what we focus on. Choosing to see the good in bad or hard situations is what will make the ultimate difference in the long run. The CPT (Care Planning Team), is an important resource regarding this. They help individuals get back on track in their lives and continue that joy perspective.

Topics: Limited & Extended Care Planning Center

How Not To Tear Your Family Apart: What Can You Grow?

By Carroll Golden on 6/16/22 9:30 AM

Long-term growth requires long-term planning. Reduction in taxes, fewer fees, more savings, and exponential growth, are all factors of long-term planning. A long-term care funding plan was also created which increases success in these areas and is an option for those wanting to be smarter with their finances.

Topics: Limited & Extended Care Planning Center

How Not To Tear Your Family Apart: Cash Flow Concerns

By Carroll Golden on 6/14/22 9:30 AM

Proper preparation = better cash flow. Without thorough forethought and intention put into place for the future, cash flow is bound to be a concern. This excerpt dives into the specifics of what a lack of preparation results in and the cash flow measures that should be taken to prevent them.

Topics: Limited & Extended Care Planning Center
6 min read

What’s the Right Amount to Save Each Month?

By EveryIncome on 6/13/22 10:00 AM

From emergency funds to retirement accounts and everything in between, it can feel impossible to save enough money each month. Even if you make more than enough money to make ends meet, you might wonder if you’re ever saving enough. While there’s no cut and dry answer as to how much you must save each month, we’ve created a guide to help you determine what’s right for you.

Topics: Financial Planning Planning in Advance Lifestyle Planning Financial Literacy Emergency Savings Savings Budgeting

How Not To Tear Your Family Apart: Caregiving Impacts Retirement

By Carroll Golden on 6/13/22 9:30 AM

One of the most overlooked threats to retirement is when people need to either limit their earning potential in the workforce due to caregiving demands (think not taking a promotion or limiting the ability to travel), or they leave the labor force altogether because the demands of caregiving are so great. This excerpt explores the impact that leaving/diminished workforce engagement has on future retirement planning.

Topics: Limited & Extended Care Planning Center
2 min read

An Introduction to Annuities: How They Work and Their Pros and Cons

By NAIFA on 6/10/22 10:00 AM

What is an annuity?

An annuity is a financial product that provides regular and guaranteed payments to an individual, typically for a period of time after retirement. Annuities are often used as a retirement planning tool, as they can provide a guaranteed stream of income for life. This can be especially helpful for those worried about outliving their savings. 

Topics: Annuities Retirement Planning Financial Planning Planning in Advance
6 min read

The Do’s and Don’ts of Achieving Financial Freedom

By EveryIncome on 6/6/22 11:00 AM

We all want to be financially free, right? Living under the burden of bills, saving, and trying to figure life out feels impossible and overwhelming at times. What if we told you that achieving financial freedom is within your reach – you just have to know the do’s and don’ts of handling your personal finances. 

Here’s what you should know. 

Topics: Financial Planning Lifestyle Planning Financial Wellness Financial Literacy Financial Security Budgeting
5 min read

What Is an Appraisal and How Does It Affect Homebuyers?

By EveryIncome on 6/3/22 10:00 AM

When you buy a home, the lender will require an appraisal. It sounds scary and like it could stop you from getting the loan you need or the home you want. While an appraisal can be a stumbling block when you’re trying to buy a home, it’s there to protect you and the lender. Understanding the appraisal, how it works, and what your options are if the appraisal doesn’t come in high enough is important.

Topics: Financial Planning Planning in Advance Financial Security
6 min read

7 Ways to Improve Your Money Mindset

By EveryIncome on 5/30/22 1:00 PM

You could set as many financial goals as you want, but without the right mindset, they are nearly impossible to reach. How you think about money—consciously and subconsciously—can affect your decisions, how you handle money, and how much money you have overall. The good news is that you can change your money mindset at any time and turn your personal financial situation around. 

What Is Your Money Mindset? 

Your money mindset is any thoughts or feelings you have about money. For example, if you tell yourself, "I’ll never make enough money to retire early", then guess what? You won’t. 

What you tell yourself and how you think about money determines how you handle money. If you tell yourself you aren’t good enough, then you’ll never stretch beyond your limits and make your financial goals a reality. 

Topics: Financial Planning Lifestyle Planning Financial Wellness Financial Literacy Budgeting
2 min read

3 Essentials for Saving During Your First Job

By NAIFA on 5/20/22 10:00 AM

You are starting your career, and you know you should save some of your income. Here are some essentials to saving and helping secure your future.

Make a Budget

One of the biggest tools to help you save money is a budget. A budget helps you plan where you want your money to go. If you have never made a budget before, you can start by keeping track of all your expenses for a month. At the end of the month, examine how you are spending your money and determine how you can spend it more wisely. If you are trying to save as much money as you can, you should cut down on your expenses as much as reasonably possible. You can still live well while not spending as much.

Topics: Emergency Savings Savings Budgeting
1 min read

3 Benefits of a Career in Financial Services

By NAIFA on 5/16/22 10:00 AM

A career in financial services may seem like a daunting venture, but there are many benefits to working at a large corporation. This article explores how a finance career can help you build your future and chart your course for success.

Networking opportunities

The financial services industry is growing, highly innovative, and competitive. Capitalizing on opportunities and adding value to clients are the hallmarks of success in the financial services business. And network professionals are essential in this endeavor. They can help you gain access to the right contacts, improve your image and reputation among senior executives, and get a lot of exposure for your company and your brand. 

How Not To Tear Your Family Apart: Caregiving Impacts Retirement

By Carroll Golden on 5/15/22 12:00 PM

One of the most overlooked threats to retirement is when people need to either limit their earning potential in the workforce due to caregiving demands (think not taking a promotion or limiting the ability to travel), or they leave the labor force altogether because the demands of caregiving are so great. This excerpt explores the impact that leaving/diminished workforce engagement has on future retirement planning.

Topics: Limited & Extended Care Planning Center
2 min read

Finances for Your Aging Parents: What to Expect and How to Prepare

By NAIFA on 5/13/22 10:00 AM

Finances for Your Aging Parents: What to Expect and How to Prepare

It's not always easy to think about your parents getting older and more dependent on you. When it comes to their finances, what do you need to know? What are the most important things for aging parents to consider when it comes to their finances? 

This article will cover what you need to know about planning for your elderly parent's financial needs in retirement so that they can maintain some level of independence. 

Topics: Retirement Planning Financial Planning Planning in Advance Eldercare Medicare Limited Care Financial Literacy
1 min read

Becoming an Independent Contractor: Pros & Cons

By NAIFA on 5/9/22 5:00 PM

Due to shifts in the job market, it's now easier than ever to become an independent contractor in almost any field. Not just for plumbers and builders, even wait staff can become independent contractors if they know how to obtain gigs and promote their services online. Let's take a good look at the pros and cons of becoming an independent contractor.

Topics: Financial Planning
1 min read

Remote Work Challenges and How to Overcome Them

By NAIFA on 5/6/22 5:52 PM

More and more organizations are moving to a remote workforce permanently. While this seems a straightforward thing, it comes with various challenges. If you plan to start working remotely, here are the challenges your team will face and the solutions to help you overcome them. 

Challenges of Remote Working

Managing Projects 

When your team works remotely, they will have challenges managing projects and meeting deadlines. The main issue is communication breakdown, where the managers will not communicate effectively with team members to ensure effective collaboration during projects. 

How Not To Tear Your Family Apart: 20 Years from Now

By Carroll Golden on 5/4/22 11:00 AM

"A lack of planning has immediate consequences and possibly consequences that will reach 20 years into the future," says Golden in her new book, "How Not to Tear Your Family Apart". Golden has been bringing the concept to both financial advisors and consumers that we need to get the conversation started far sooner than anyone expects so that dire consequences do not occur that possibly impacts generations to come.

Topics: Limited & Extended Care Planning Center Financial Security
2 min read

Why You Should Consider Investing in Life Insurance

By NAIFA on 5/2/22 1:30 PM

Do you ever worry about what will happen if something happens to you? Not the fear that grips you when you are alone in your home at night, but the stress and anxiety associated with trying to provide for your family, pay off debt, or maintain your lifestyle. This is where investing in life insurance can have various benefits.

Topics: Life Insurance Financial Planning Tax Savings Financial Literacy insurance
6 min read

Saving For Retirement

By EveryIncome on 4/29/22 11:52 AM

No matter how young or old you are, everyone should be thinking about retirement. We know it’s hard when you’re in your 20s or 30s because 59 ½ – 65 years old seems so far off, but it will be here before you know it.

The earlier you save for retirement, the more money you’ll have to enjoy your golden years. Plus, when you save early, you give your money more time to grow, which is like passive income – you don’t have to work for it, yet you grow your retirement account fast.

Understanding how retirement funds work, how to save for retirement, and the tax consequences of each account is important.

Topics: Financial Planning Financial Literacy
2 min read

Life Insurance Is Key to Financial Security

By NAIFA on 4/26/22 12:23 PM

New research by LIMRA and Life Happens shows two significant trends: life insurance is key to financial security and gender gaps extend to life insurance coverage.

Financial Security with Life Insurance

Financial insecurity affects all age groups, but one thing is clear: having life insurance increases Americans' feeling of financial security. 68% of life insurance owners feel financially secure compared with 47% of non-owners, and those who feel most secure have coverage both through their employer and a separate individual policy. The study also showed that the COVID-19 pandemic had increased awareness of the need for life insurance, with 31% of those surveyed saying they are more likely to buy life insurance in 2022.  

Topics: Life Insurance Research Trends Research/Trends insurance
6 min read

Understanding FHA Loans

By EveryIncome on 4/25/22 11:48 AM

Among your many loan options are FHA loans. They are a common choice for borrowers that don’t qualify for conventional (traditional) financing.

FHA loans have a bad reputation, but they are one of the most flexible and easy-to-use programs for first-time homebuyers and subsequent homebuyers.

Topics: Financial Planning Financial Literacy
2 min read

3 Most Common Medical Debt Mistakes

By EveryIncome on 4/22/22 1:30 PM

Each year, many Americans struggle to manage their medical expenses. Routine healthcare procedures can be expensive enough, but there are even more significant costs associated with emergency medical care, chronic illness management, and childbirth. Too many Americans are finding themselves drowning in the medical debt they’ve accrued from essential treatment and medication, with or without health insurance. Three major mistakes can cause patients to rack up more significant medical debt than is necessary, but fortunately, these strategies can help.

Topics: Financial Planning Financial Literacy Financial Security Debt Medical
2 min read

Student Debt: Understanding Financial Aid Packages

By EveryIncome on 4/18/22 11:00 AM

Getting accepted to an academic program can be one of the most exciting events in a student’s academic career. However, this excitement is often followed by panic. Many students and their families become overwhelmed by applying for financial aid, taking out loans, and cutting costs to afford a college education. Student debt is something that can plague individuals and their families long after graduation, but doing extensive research before borrowing can help. Here are a few things that borrowers should know about student debt before they sign on the dotted line.

Topics: Financial Planning loan Financial Literacy Debt
2 min read

Should You Invest While Paying Off Debt?

By EveryIncome on 4/15/22 2:00 PM

Traditional approaches to eliminating debt tend to create a black-and-white view of money matters—reduce spending so you can increase debt payments.

It may seem counterintuitive, but investing while you’re managing and paying off loans can help you eliminate debt. How? By increasing the earnings you have available to make payments.

Here are four things to consider.

Topics: Financial Planning Financial Literacy Debt
5 min read

Buying or Leasing a Car – What’s the Difference?

By EveryIncome on 4/11/22 1:30 PM

If you’re in the market for a car, you have the option to buy or lease it if you aren’t paying cash outright for the car. 

Many people are opposed to leasing and will only buy cars and vice versa, but how do you know which one is right for you.

Here’s everything you must know about the difference between buying and leasing a car.

Topics: Financial Literacy
3 min read

Stressed Out? Avoid These 10 Terrible Ways to Cope

By EveryIncome on 4/8/22 11:31 AM

According to the American Psychological Association (APA), we are stressed out.

The latest Stress in America report from the APA, published in 2018, found that over half of millennials (born between 1980 and 1994) and members of Generation Z (born between 1995 and 2015) feel stressed out, with just under half of baby boomers and older adults feeling the same.

Money, work, and health concerns are America’s main stressors, and mental health crises are prevalent outcomes of high stress.

The report clearly states one thing—stress is a certainty, and you’re going to get your turn with it sooner or later. Here’s a list of 10 things to avoid when stress rears its ugly head.

Topics: Financial Planning Lifestyle Planning Financial Literacy
3 min read

Tax Planner: Should You Hire One?

By EveryIncome on 4/4/22 2:30 PM

There are tons of online tax tools. Why go through the trouble of finding and hiring a tax planner?

Because a tax planner could save you millions over your lifetime, along with other benefits. Here’s what you need to know about tax pros.

What is a tax planner?

They are accounting professionals — certified public accountants (CPAs) or tax attorneys — who work with clients over a long period. A tax planner’s primary goal is to ensure that the client is prepared for the next filing season and pays the minimum taxes legally possible.

Topics: Financial Planning Tax Savings Tax taxes Financial Literacy
2 min read

What Are Exchange-Traded Funds?

By EveryIncome on 4/1/22 5:21 PM

Exchange-traded funds (ETFs) have only been around for about 25 years.

Nevertheless, they can be a productive part of a diversified portfolio, and they have certain distinct advantages over other types of funds and/or traded assets.

What are they?

ETFs are grouped collections of securities. Like a mutual fund, an ETF pools money from a number of investors into a single fund that purchases a diversified selection of bonds, equities, and other assets with a certain investment goal in mind (income or speculation, for example).

Topics: Financial Planning investing Financial Literacy
6 min read

How Your Risk of Financial Exploitation Increases as You Age

By Cameron Huddleston, Carefull Family Finance Expert on 3/29/22 10:00 AM

You know that you can expect to be at an increased risk of health issues as you age. However, what you might not realize is that aging puts you at a greater risk of another issue: financial exploitation. 

In fact, the rate at which adults over the age of 60 can expect to experience financial exploitation—1 in 20—is higher than the incidence of many age-related diseases, according to research published in The Journals of Gerontology. And that’s likely an underestimate of the problem because, according to the report, “many older adults are unaware or unwilling to report exploitation.” 

Topics: Long Term Care Limited Care Limited & Extended Care Planning Center Potential Partners for Advisors insurance
6 min read

What Is a Home Equity Loan?

By EveryIncome on 3/28/22 5:20 PM

If you own a home and have paid your mortgage down a bit, you may have some equity in your home. Equity is the difference between your home’s value and the outstanding mortgage. In other words, it’s your investment in the property. 

At first glance, it may feel like your equity is tied up in your home since homes aren’t liquid. You probably think you have to move to get the difference between your home’s value and your mortgage. But there are ways to get your equity out while allowing you to stay in the home. 

Here’s what you must know.

Topics: Financial Planning Financial Literacy
5 min read

Ways to Get the Most Out of Your Reward Credit Card

By EveryIncome on 3/25/22 5:20 PM

You hear credit cards are bad so you don’t use them, right? What if we told you they could be good when used in the right context? What if you could build an even better credit score if you had reward credit cards as a personal finance tool? 

It’s true, reward credit cards can be a great way to build and keep a good credit score. Even better, they pay you rewards just for spending money. But you have to know how to find the right card and how to use them right so you don’t get in over your head in debt.

Topics: Financial Planning Financial Literacy
6 min read

Building Credit From Scratch

By EveryIncome on 3/18/22 2:15 PM

It takes credit to build credit, but if no one will give you credit without a credit score, what do you do?

It’s not as hard as you think to build credit from scratch. Before we show you how to build credit, though, we’ll explain what credit is and why it’s important. 

What is a credit report?

Your credit report is a log of your financial behavior, home addresses, and employers. It’s a log for lenders to use to determine if you’re a good or risky borrower.

Topics: Financial Planning Financial Literacy
2 min read

Health and Wealth Benefits on the Job

By NAIFA on 3/14/22 8:00 AM

Employee benefits are an important part of your compensation package. Benefits range from paid time off (PTO) to health insurance to retirement and 401(k) plans. Most employer health plans are more comprehensive than what you can buy privately, have lower deductibles, and are much cheaper. Understanding benefits can help you accurately assess a compensation package and ensure that you're not leaving money on the table.

Let's look at some common employee benefits.

Topics: Financial Planning Employee Benefits
2 min read

How Do I Help Prepare My Parents for Medicare?

By NAIFA on 3/11/22 3:30 PM

Medicare is a government program created to provide healthcare coverage for people who are 65 or older, certain younger people with disabilities, and those on Social Security. It covers hospital stays, doctor visits, lab tests, eye exams, and more.

Medicare has many options for beneficiaries, including traditional Medicare (Parts A & B), which is full-service coverage but only includes items that are medically necessary or preventive in nature; a Prescription Drug Plan (Part D), which provides prescription drug coverage; and an Advantage plan or Part C that combines both Parts A &B plus supplemental medical insurance.

Topics: Long Term Care Financial Planning Planning in Advance Eldercare Medicare
1 min read

The Main Street Code for Financial Success

By NAIFA on 3/10/22 11:45 AM

What's your most important financial asset? What's the best way to grow your money tax-free? NAIFA President Larry Holzberg answers these questions and more with Neil Himmelstein on the podcast "The Main Street Code for Financial Success".

Holzberg and Himmelstein discuss the importance of working with a financial advisor and having the right kind of insurance to protect your assets and your family. “[Life Insurance] allows people to maintain their lifestyle, reach their goals, and do the most important thing—love their family,” says Holzberg.

Listen to the Episode Here

Topics: Disability Insurance Long Term Care Life Insurance Financial Planning podcast Financial Wellness Careers in Financial Services
1 min read

How to Prepare Financially for Natural Disasters

By NAIFA on 3/7/22 9:00 AM

Natural disasters such as hurricanes, wildfires, floods, tornadoes, and earthquakes can paralyze your finances when they strike. Unfortunately, many people fail to prepare financially and are caught unaware when natural disasters hit.

Here are two ways to prepare financially in the event of a natural disaster.

Topics: Financial Security Emergency Savings
1 min read

3 Tips on How to Save and Pay Off Student Loan Debt

By NAIFA on 3/4/22 2:45 PM

Are you a young professional planning for your financial future? You may be contemplating how to clear your student loan debt and save more for your retirement. Discipline and commitment will never go wrong when it comes to financial decisions, but having a financial plan is key. Read on for three reliable tips on how you can save and pay back your student loans.

Topics: Retirement Planning Financial Planning Financial Literacy Budgeting
3 min read

Keep From Being Miserable While Living on a Tight Budget

By EveryIncome on 2/28/22 11:53 AM

No one particularly wants to live on a tight budget, but there are times when we need to rein in our spending and pay better attention to where the money is going.

But, you can still live well on a tight budget. There are ways to live your best life while spending less.

Topics: Financial Planning Budgeting
1 min read

Creating Healthy Tech and Media Habits with Your Teen

By NAIFA on 2/26/22 10:30 AM

NAIFA supports teen mental health. Financial security begins with a healthy relationship with money, which starts with a healthy relationship with oneself.

On Tuesday, April 12, 2022, Families for Depression Awareness will present the webinar "Creating Healthy Tech and Media Habits with Your Teen". Host Meredith Gansner, M.D., will discuss how technology can affect teen mental health and how parents and adults can help. All are welcome to attend: parents, guardians, family members, youth workers, and any other adult with a teen in their life.

Topics: Technology social media webinar Financial Wellness Internet Family
2 min read

No Heirs? Why You Still Need to Have an Estate Plan

By EveryIncome on 2/25/22 2:00 PM

Having no heirs doesn’t absolve you from the need for proper estate planning.

The most avoidable problem is what happens to your wealth if you die without making a will (or dying intestate). When this happens, the state court system decides how to handle your money and belongings.

Therefore, whether you have no heirs or a hundred, the most important element of estate planning remains unchanged: Make a plan. Even a flawed plan is better than none, so consider tackling this task as soon as possible.

Topics: Financial Planning estate planning Financial Literacy Financial Security
6 min read

Financing a New Car

By EveryIncome on 2/21/22 3:00 PM

If you’re looking to buy a new car, you will likely need to finance it unless you can pay for it in all cash. Fortunately, there are many options to finance a car, but understanding your options and how they work before you look for a loan is important.

Topics: Financial Planning Financial Literacy
2 min read

How to Have Fun on the Cheap

By EveryIncome on 2/18/22 11:30 AM

A big part of why we want to make (or save) money in the first place is to enjoy it. But it’s hard to save for concert tickets, travel, and other bigger purchases when all your money disappears on an average Friday night.

The good news? A small budget doesn’t mean you’re forever confined to your home alone. There are plenty of ways to entertain yourself with little to no spending.

Topics: Financial Literacy Budgeting
2 min read

An Expanded View of the Gig Economy: Beyond Apps

By EveryIncome on 2/11/22 10:00 AM

When most people think of the gig economy, they immediately think of the popular ridesharing apps, food delivery services, and grocery delivery options that have become ubiquitous in today’s world. However, with significant legal questions over large ridesharing companies’ classification of drivers as non-employees, the future of some large players in the industry is starting to seem a bit uncertain. The gig economy is a lifeline for many workers trying to provide for their families during the COVID-19 pandemic, and there are a few ways for individuals to expand their view of the industry beyond the most popular app-based options.

Topics: small business Financial Wellness
3 min read

The Hidden Costs of Home Ownership

By EveryIncome on 2/7/22 10:00 AM

According to the National Association of Homebuilders, a majority of Americans (around 75 percent) believe that owning a home is the best way to make a solid investment in their future, and so it is a goal that many people strive towards.

Whether you’ve saved for years and are considering buying a home, or you have already become a homeowner and are planning your financial future from here, you must consider the hidden costs of home ownership.

In this article, we’ll talk about those costs and what to consider, no matter what stage of the home-buying process you are in.

Topics: Planning in Advance
3 min read

Find a Mortgage Before You Find the House

By EveryIncome on 2/4/22 10:00 AM

Buying a home is a significant step. With so much at stake, both financially and emotionally, you must be prepared for the process of fitting the house into your life — as well as fitting your life into the house.

If you need a mortgage to buy a home, take the task of finding a mortgage as seriously as any other task related to homeownership. The mortgage process might seem intimidating, but you can boil it down into five categories:

Topics: Planning in Advance
10 min read

What to Know About Long-Term Care Insurance

By Cameron Huddleston, Carefull Family Finance Expert on 2/3/22 12:11 PM

If you developed a disability or chronic condition that required long-term care, how would you pay for that care? Would you expect health insurance or Medicare to pay for it? 

Unfortunately, you can’t count on either of those options to pay for ongoing care that you might need. Medicaid might cover the cost of long-term care services if you have very limited income or assets. Otherwise, if you need professional care at home, in an assisted living facility, or in a nursing home, you’ll have to pay for it. 

Topics: Long Term Care Planning in Advance Seniors
2 min read

4 Must-Haves for Your Fixed-Income Portfolio

By EveryIncome on 1/31/22 9:00 AM

No matter how carefree we are in our youth, as we start to approach retirement age, we begin to value reliability and predictability — in our portfolios as well as our Wi-Fi connections.

It’s also when we begin to prioritize income generation over capital growth. Fortunately, income-focused doesn’t have to mean low return, and a fixed-income portfolio might be just the ticket for a financially carefree retirement.

Topics: investing
2 min read

Hiring an Estate-Planning Attorney? Look for These 5 Qualities

By EveryIncome on 1/28/22 9:00 AM

Planning your estate can easily feel overwhelming at times. Choosing the right attorney to help you can make a world of difference in easing your stress as you plan ahead.

Topics: Financial Planning estate planning
1 min read

Hear Real Life Stories on the Impact of Life Insurance

By NAIFA on 1/27/22 11:28 AM

Join us for a special webinar on Thursday, February 3, 2022, presented by NAIFA-CT's Richard Terhune, a loyal NAIFA member since 2008. The event will feature two real-life stories of the power of life insurance on the lives of families across the country.

Terhune and his client, Sara Mathews Dixon, were selected as recipients of the Life Happens' Real Life Stories program. When Sara's husband died unexpectedly, his life insurance policy protected her and their three children from financial hardship.

Don't miss this impactful and inspiring webinar on February 3, 2022, at 2 pm eastern.

Topics: Life Insurance Financial Planning Protection
3 min read

How Careful Tax Planning Saves You Money

By EveryIncome on 1/24/22 10:00 AM

Even just a little tax planning can help save you money when tax time comes. Among other things, tax planning can help you and your accountant or tax advisor evaluate your financial situation in light of the current tax laws.

Below are some basic ideas and strategies you and your tax advisor might use to manage your tax burden.

Topics: Financial Planning Tax Savings Tax Benefits taxes
2 min read

How to Build a Strong Investment Portfolio

By EveryIncome on 1/21/22 9:00 AM

Do you know how to start building a powerful investment portfolio?

An investment portfolio is simply a rundown of your assets — stocks, bonds, real estate, mutual funds, 401(k) retirement account, savings, money market accounts, certificates of deposit (CDs), cryptocurrency, employee stock options, and futures.

Now let’s talk about how to build a strong one.

Topics: investing
2 min read

Why Millennials Need a Financial Advisor

By NAIFA on 1/19/22 10:00 AM

We know that millennials are facing staggering economic challenges. With the high cost of living and low wages, money management can be challenging. That's why it's essential to work with a financial advisor - one who understands your needs and can make sure you're getting the best information for your unique financial situation.

Topics: Financial Planning Financial Literacy
2 min read

A Healthy Work-Life Balance Can Improve Job Satisfaction

By EveryIncome on 1/12/22 8:00 AM

Ah, that ever-elusive work-life balance.

Topics: Time Management GoalSetting
2 min read

Perks of Remote Jobs: Home Office Deductions and Other Financial Benefits

By EveryIncome on 1/10/22 2:18 PM

While some professionals are returning to their daily grind at the office, many Americans are continuing to work from home. Although focusing on work can be a challenge amid kids, pets, and other distractions, many workers are discovering and embracing the financial benefits offered by remote jobs. Here are some of the ways that remote workers can save money.

Topics: Tax Savings Financial Wellness COVID-19 Pandemic
2 min read

Succeeding in the Gig Economy

By EveryIncome on 1/7/22 1:44 PM

As Americans face the harsh realities of the COVID-19 pandemic, more and more people are turning to the gig economy for income. While most people think of delivery and ridesharing services as the only job opportunities on offer, there are plenty of other careers that are part of the gig economy. Freelancers, construction workers, web designers, and hourly workers in a variety of positions are also included in this category. If you are thinking about turning towards jobs in the gig economy to supplement your income, there are a few things you should know.

Topics: Networking small business Financial Wellness
2 min read

Young Person’s Portfolio: Should Income-Focused Investing Be Included?

By EveryIncome on 1/5/22 8:00 AM

You’re young. You’ve got time on your side. Conventional wisdom may say: Invest heavily in stocks. You’ve got many years ahead to ride out any downturns.

Topics: Financial Planning investing Financial Literacy
2 min read

Tax Planning for Ordinary People: What You Need to Know

By EveryIncome on 1/3/22 8:00 AM

“Tax planning” is a phrase many people associate with large corporations, the rich and powerful, or super-humanly organized accountant types.

Topics: Financial Planning taxes Financial Literacy
3 min read

How to Become Debt-Free on a Low Salary

By EveryIncome on 12/31/21 8:00 AM

Being in debt is stressful, especially if you’re on a salary that barely covers your other regular expenses. However, it is possible to get out of debt on a low salary.

Just like any other trying financial situation, becoming debt-free with a smaller income requires focus, persistence, patience, and the ability to be honest with yourself.

Topics: Financial Planning Financial Security Budgeting
3 min read

Charitable Giving by Your Business? Consider This First.

By EveryIncome on 12/29/21 8:00 AM

Entrepreneurs and business owners are often solicited for donations of one kind or another — by everyone from national advocacy groups and political campaigns to local soccer teams and school dance troupes.

So how do you decide where to donate? And what’s in it for you and your company

Topics: Tax Benefits Grow Your Business
2 min read

You’ve Conquered Your Credit Card Debt! Now What?

By EveryIncome on 12/27/21 8:00 AM

Living with the oppressive burden of credit card debt can be incredibly stressful, and breaking bad financial habits takes practice and dedication. For many borrowers, a debt-free future is achievable through hard work, financial education, and restraint. If you have recently conquered your credit card debt, you deserve heartfelt congratulations! You have overcome a major roadblock to good financial health. However, without careful consideration for your next steps, you might quickly find yourself back in debt. Keep these tips in mind as you navigate the world debt-free.

Topics: Financial Wellness Financial Literacy Debt
2 min read

How to Be a Giver on Any Income Level

By EveryIncome on 12/20/21 8:00 AM

Whether you’re a private individual or business owner, there are plenty of good reasons to donate to charity beyond the obvious benefit of helping those in need.

Topics: Financial Planning
2 min read

Buying a Home in the Midst of Economic Uncertainty

By EveryIncome on 12/17/21 8:00 AM

For individuals and families who have been on the cusp of making major life decisions, it can seem like the COVID-19 pandemic could not have come at a worse time. Many people have had to put their plans on hold, and those who have been looking into buying a home may feel that they are stuck in limbo. A few key changes have been taking place in the real estate market, and these changes can severely impact the home buying process for many Americans. Here are some things to keep in mind while searching for a home (and a home loan) during this period of economic uncertainty. 

Topics: Financial Planning Financial Literacy
2 min read

The Importance of Financial Education for Small Businesses

By EveryIncome on 12/15/21 8:00 AM

Many people who become small business owners do so because they are passionate about their craft or industry. While some set out with a considerable amount of business acumen, many must follow a sharp learning curve to become financially proficient. Learning how to manage the financial side of a business effectively is not a small task, which is why many owners and managers turn to financial education programs for assistance. These programs focus on the specific issues that matter most to small business owners, giving them the tools they need to make good decisions and manage their finances well. Financial education for small businesses is crucial for business owners, particularly those who are new to the business world.

Topics: small business Financial Literacy
2 min read

Building Credit for Beginners

By EveryIncome on 12/13/21 8:00 AM

The world of credit scores, loans, and credit cards can seem incredibly complex for those who are new to it. A variety of factors influences credit scores, but building credit does not have to be exceedingly complicated. Whether you are working towards buying a house or you simply want to start building credit, there are a few ways that financial novices can solidify their financial footing. Whether you have existing credit or not, consider these methods of building credit for beginners.

Topics: Financial Planning Lifestyle Planning Financial Literacy
5 min read

5 Startling Facts About Debt And 5 Ways to Break the Cycle

By EveryIncome on 12/10/21 8:00 AM

Avoiding debt can be tough. These days, debt in America affects almost everyone. According to Northwestern Mutual’s 2018 study, only 23% of people are debt free.

Topics: Financial Literacy Debt Budgeting
2 min read

How to Cut Expenses for Businesses During the COVID-19 Pandemic

By EveryIncome on 12/8/21 9:00 AM

As the COVID-19 pandemic stretches on, many companies are doing what they can to keep afloat and mitigate the economic impact of this disease. With no end in sight, making a long-term financial plan can seem impossible. Many individuals and business owners are turning to cost-cutting measures to make each penny count in these uncertain times. Here are a few ways that businesses can cut expenses and improve their outlook during the COVID-19 pandemic.

Topics: small business Pandemic
3 min read

Student Debt: What You Need to Know About Forgiveness, Cancellation, and Discharge

By EveryIncome on 12/6/21 8:30 AM

In 2019, more than 44 million people in the United States carry student loan debt, for a total of $1.51 trillion.

The rise in college tuition has outstripped both wages and inflation, while a degree has become a more and more important component of any resume.

A college education is supposed to make you a more valuable member of the workforce, which is supposed to be reflected in your income. But having gone to college is no longer a guarantee of a job that pays well — starkly demonstrated by the sheer number of Uber drivers and baristas with advanced degrees.

Topics: Financial Planning Financial Literacy
2 min read

Financial Planning for Early Retirement

By EveryIncome on 12/3/21 8:30 AM

Retirement looks different for everyone. While some people are content to continue their careers well into their sixties, some motivated professionals aim to retire early. Early retirement isn’t for the faint of heart; building up a substantial retirement savings, boosting your financial proficiency, and figuring out how to maintain your standard of living without a stream of traditional income can be a harrowing prospect. However, if everything works out well, early retirement can be an incredibly enjoyable way of life. Consider these financial planning tips to help you work towards an early retirement.

Topics: Retirement Planning Financial Planning
2 min read

Keep Money in Your Family Through Estate Tax Planning

By EveryIncome on 12/1/21 8:30 AM

Your family is your heart and soul, so you want to make sure they’re taken care of after you’re gone. There are many ways to do this, and estate tax planning early on is critical in making sure your beloved family members enjoy continued financial security.

Whether you’re single, married, or living in a domestic partnership, estate tax planning should be at the top of your to-do list when organizing your financial matters as you age.

By following these steps, you can rest assured that your money stays where it belongs — with your family.

Topics: Financial Planning estate planning Financial Literacy
3 min read

Could the 50/20/30 Rule Be the Path to Your Best Financial Future?

By EveryIncome on 11/29/21 8:30 AM

Balancing your budget can be a struggle. Are you paying too much for your mortgage and too little on healthy food? How are you supposed to save for the future and enjoy life now?

The 50/20/30 rule — spend 50 percent of your income on needs, 20 percent on savings and debt, and 30 percent on wants — is a simple way to think about using a basic budget to get a handle on your finances.

Topics: Financial Literacy Budgeting
2 min read

How to Start Saving When You Have Tons of Student Loan Debt

By NAIFA on 11/22/21 10:00 AM

I have tons of student loan debt—over $90,000, in fact—and no matter how much I cut back, it seems like there's never enough money left over to start saving. There are plenty of organizations out there who say they can help with this, but it's important to do your research before committing to anything— it may not actually be the best option.

Topics: Financial Security Debt
2 min read

Caring for Aging Parents: Financial Impact

By NAIFA on 11/18/21 1:32 PM

As our parents continue aging, there is a change in the role of who is taking care of whom. They become more senile and financially dependent on you to take care of their needs. Eventually, all our parents do age, and failing to prepare for this will leave you and your whole family at a disadvantage. This is why it's important to work with insurance and financial professionals with a wealth of experience planning for expenses associated with aging.  

NAIFA specializes in this and has financial advisors willing to work with you and your family to plan your finances so that you can comfortably give your aging parents the care they need. We have discussed the importance of, and some of the long-term care costs and strategies for paying them.

Importance of Preparing as a Family for Long-Term Care Cost

Topics: Financial Security Family
3 min read

Long-Term Care Insurance vs. Term Life

By EveryIncome on 11/15/21 7:30 AM

Most Americans will need long-term care. Unfortunately, it’s extremely expensive and can deplete your finances quickly if you aren’t prepared to pay for it.

Many people get long-term care insurance (LTCI) to cover the costs. You may have also heard about term life insurance (TLI). What’s the difference?

Topics: Long Term Care Life Insurance
6 min read

Why the Holidays Aren’t the Best Time to Have Family Money Talks

By Carefull on 11/12/21 9:58 AM

This article was originally posted by NAIFA partner Carefull. Carefull is the first service built to organize and protect older adults' finances. It is available for individuals, families and financial advisors who need smart financial monitoring, identity theft protection, and bill oversight for older adults' daily money matters.

Timing is really important when it comes to talking to your parents about their finances. The holidays might seem like the perfect opportunity to have these conversations because you, your siblings and parents will be together in one place (that is, when there’s not a pandemic making gatherings a challenge). You’ll be celebrating, and everyone will be relaxed. Perfect time for a family money talk, right?

Wrong. A holiday meal is not the ideal time to talk to your parents about their finances. Your efforts to discuss what could be an awkward topic could easily backfire. So before you say, “Mom and Dad, pass the turkey and let’s talk about your will,” consider the cons of trying to start this conversation during the holidays.

Topics: Financial Planning Planning in Advance Wills, Health Directives, Trusts
2 min read

4 Financial Tips for Veterans

By David Lahoud on 11/11/21 1:40 PM

After serving our country, some veterans may want financial support when they come back, as they may have been disrupted from a job when being called upon. we are here to give them that financial support with 4 financial tips that will help them achieve financial success after achieving success serving our country.

Topics: Members Financial Security
2 min read

Trying To Get Out Of Debt? Avoid These Mistakes.

By EveryIncome on 11/5/21 2:31 PM

If you have found yourself with seemingly-insurmountable debt, the road ahead can be unclear and perilous. Whether your balances are due to medical expenses, student loans, or credit cards, it can be incredibly challenging to get out of debt. Interest rates, loan terms, and hidden fees can make your repayment efforts seem futile. If you are looking to make wise financial decisions and get out of debt, avoid making these common mistakes.

Topics: Financial Planning Debt Budgeting
8 min read

How to Protect Your Aging Parents Against Scams and Fraud

By Carefull on 11/4/21 1:30 PM

This article was originally posted by NAIFA partner Carefull. Carefull is the first service built to organize and protect older adults' finances. It is available for individuals, families and financial advisors who need smart financial monitoring, identity theft protection, and bill oversight for older adults' daily money matters.

Scammers love to target older adults. Sure, they’ll go after people of all ages, but con artists often prey on older adults because they assume that seniors are more trusting, more vulnerable, and less likely to report being scammed.   

On top of that, scammers see older adults as prime targets because they think they’re sitting on a pile of retirement cash – cash that they hope to steal. According to a report by the Consumer Financial Protection Bureau, older adults reported $1.7 billion in losses to financial exploitation in 2017 alone, with an average loss among victims of $34,200. And that's only the reported losses — outside researchers estimate that actual annual losses to older adults range from $2.9 billion to $36.6 billion.

Unfortunately, there’s a chance your parents could become a part of those statistics – if they haven’t already. No matter what you do, you can’t protect your parents 100% from becoming victims. However, you can reduce their risk by taking the following steps.

Topics: Avoiding Scams Cybersecurity
2 min read

Take a Proactive Approach to Retirement Planning

By EveryIncome on 11/1/21 2:24 PM

Retirement is something that most people think about, regardless of their age. Whether it’s to obsess over their savings or plan what to do during their golden years, many people spend a great deal of time thinking ahead. Most company pensions are a thing of the past, and some younger folks express skepticism that retirement benefits provided by the Social Security Administration will be sufficient (or available at all) by the time they retire. For those looking to get a head start on retirement planning, financial wellness programs can provide many valuable tools, information, and insights.

Topics: Retirement Planning Financial Literacy
3 min read

How to Find the Right Health Insurance Plan

By EveryIncome on 10/29/21 2:19 PM

Without a health insurance plan, you could be on the hook to pay an expensive medical bill next time you visit a hospital. There’s a plan out there for everyone, so here’s a look at the types of health insurance plans to find the right one for you to avoid medical debt.

If you don’t have a good health insurance plan, now’s the time to get one.

Topics: Health Care
2 min read

Common Strategies for Reducing Debt

By EveryIncome on 10/27/21 2:14 PM

Whether you have accrued debt from student loans, credit cards, or other means, getting out of debt can take decades of hard work. High interest rates, unexpected expenses, and low earnings can all contribute to mounting debt. Fortunately, there are some approaches that borrowers can take to minimize their debt over time. If you have recently decided to redouble your efforts and focus on reducing debt, there are a few strategies to help you determine which debts to tackle and when. 

Topics: Financial Security Budgeting
7 min read

How to Catch Up on Retirement Savings if You’ve Left the Workforce

By Principal® on 10/26/21 2:23 PM

This article was previously published by Principal.

People leave the workforce for all sorts of reasons and lengths of time—some by choice, some not. But any break in work, be it temporary or prolonged, may also lead to a break or dip into retirement savings. Take the year 2020: 15% of people faced with a job loss or reduction borrowed from or cashed out retirement accounts, according to the Federal Reserve.1

Luckily, there are lots of ways to catch up on retirement savings if you’ve left (and perhaps reentered) the workforce. Whatever path you choose depends on the tradeoffs you’re willing to make in the short and long term. These ideas may help.

Topics: Retirement Planning
2 min read

Personal Finance Education Basics: Three Topics to Sink Your Teeth Into

By EveryIncome on 10/25/21 2:04 PM

For those who are just starting to get serious about their money, delving into personal finance education is a critical endeavor. Not everyone is exposed to finance-focused lessons in school. Many of us are expected to jump right into adulthood with very little formal education on things like loans, investing, and credit. If you are just starting your personal finance education journey, consider learning more about these three topics.

Topics: Financial Literacy Debt Budgeting
7 min read

Understanding Your Long Term Care Costs

By EveryIncome on 10/22/21 1:50 PM

Long-term care in America is expensive, and if you’re not prepared to pay for it, you could find your hard-earned lifelong savings disappearing quickly.

Understanding long-term care costs and financial planning for eldercare is crucial for preserving wealth while you seek assistance for the activities of daily living you can longer do by yourself due to chronic illness, disability, injury or old age.

Topics: Long Term Care Financial Planning
2 min read

Buying a Home: How Beginners Can Prepare

By EveryIncome on 10/20/21 1:45 PM

Few things in life are as exciting and intimidating as buying a home for the first time. For first-time homeowners, the process can appear incredibly overwhelming. It can seem like there are a million different tasks that need to be done in tandem, with each one ready to go before anything can proceed. However, with a little bit of research and a lot of planning and hard work, buying a home is an achievable goal for many Americans. Fortunately, there are a few basic steps that beginners can take to prepare before buying a home for the first time.

Topics: Financial Planning Budgeting
2 min read

Career Planning Tips for a Bright Financial Future

By EveryIncome on 10/18/21 1:34 PM

When most people intensify their financial planning efforts, career planning often falls by the wayside. Budgeting, debt reduction, and investing and saving strategies are typically the focus. However, career planning is a crucial part of preparing for your financial future. No matter how great you are at pinching pennies, a meager salary can put severe limits on the goals you are able to achieve. If you are considering your future financial plans, take some time to assess the state of your professional life. Follow these career planning tips to improve your economic outlook.

Topics: Planning in Advance Lifestyle Planning
3 min read

How Much Is Enough to Save for a Financial Emergency?

By EveryIncome on 10/15/21 1:25 PM

Most financial responsibilities are predictable, but you need rainy-day funds to deal with the unpredictable. Do you have enough?

Financial crises do arise, times when you must pay for something unexpectedly and immediately.

A medical emergency could keep you out of work. Your car could break down. Home repairs could become immediately necessary. In the meantime, all your regular bills are still due.

Topics: Financial Security Budgeting
2 min read

Success Stories in the Insurance and Financial Services Industry

By David Lahoud on 10/14/21 1:48 PM

As a recent college graduate, after having attended the third Future Leaders meeting out of four on October 6, I gained insight into a career in financial services for undergraduates. There are many fields that are unfamiliar to students attending college, making it hard for them to make choices on what they wish to specialize in. NAIFA's Future Leaders series helps bridge that gap in knowledge by explaining more about the financial sector of jobs.

Topics: College Careers in Financial Services
2 min read

From Student to Professional: A Pathway to a Career in Insurance and Financial Services

By David Lahoud on 10/12/21 1:11 PM

As a recent college graduate, after having attended the second Future Leaders meeting out of four on September 29, it provided insight into a career in financial services for undergraduates. There are many fields that are unknown to many students attending college, making it hard for them to make choices on what they wish to specialize in. This event helps bridge that gap in knowledge by explaining more about the financial sect of jobs.

Topics: College Careers in Financial Services
3 min read

Where Did My Money Go? How to Get Spending Habits Under Control

By EveryIncome on 10/11/21 2:51 PM

Spending habits can be deeply ingrained and hard to break — they’re called habits because they’re regular behaviors you might not consciously think about.

Topics: Financial Literacy
2 min read

Future Leaders Provides Insight into a Career in Financial Services for Undergraduates

By David Lahoud on 9/29/21 4:28 PM

As a recent college graduate, after having attended the first Future Leaders meeting out of four on September 22, and it provides insight into a career in financial services for undergraduates. There are many fields that are unknown to many students attending college, making it hard for them to make choices on what they wish to specialize in. This event helps bridge that gap in knowledge by explaining more about the financial sect of jobs.

Topics: College Careers in Financial Services
2 min read

Life Insurance Awareness Month Is a Great Time to Consider Your Life Insurance Needs

By Mark Briscoe on 9/1/21 10:04 AM

NAIFA is pleased to join our members and industry partners, including Life Happens, to commemorate September as Life Insurance Awareness Month (LIAM). Life insurance is a crucial part of a successful financial plan for many Americans. Unfortunately, many people are underinsured, leaving their families financially vulnerable.

Topics: Life Insurance Life Insurance Awareness Month
1 min read

Fairway Mortgage presents: How Not to Lose In Retirement

By NAIFA on 7/19/21 7:25 PM

It was all about what you could gain during your earning years-- and now in retirement, it is how not to lose.  Join two experts, Harlan Accola of Fairway Independent Mortgage and David McKnight, the author of the Power of Zero,  for How Not to Lose in Retirement on Wednesday, July 21st at 5:30 pm eastern, as they review your most important investments: 

Topics: Retirement Planning Retirement taxes
2 min read

How to Have Fun This Summer Without Breaking the Bank

By EveryIncome on 6/22/21 10:30 AM

A big part of why we want to make (or save) money in the first place is to enjoy it. But it’s hard to save for concert tickets, travel, and other bigger purchases when all your money disappears on an average Friday night.

Topics: Budgeting
4 min read

Focus on Retirement Happiness to Make the Annuity Case

By Tom Hegna on 6/16/21 10:55 AM

I think everyone dreams of a retirement where they can live a long and happy life. This has been researched by PhDs around the world, and the answers may surprise you. Research shows that people with a guaranteed lifetime income source tend to be happier and live longer. I still remember The Wall Street Journal headline that read, “The Secret to a Happier Retirement is Friends, Neighbors and a Fixed Annuity". The article went on to say that the happiest people in retirement were those who were surrounded by friends and had sources of guaranteed lifetime income. Let me ask you a question: Who are the happiest people you know in retirement? I’ll bet it’s those who are retired from the military, the government, teachers, and firefighters. It’s people with pensions! Happiness in retirement is based almost 100% on guaranteed lifetime income, not assets.

Topics: Annuities Annuity Awareness Month
4 min read

When to use an emergency fund: 5 do’s and 5 don’ts

By EveryIncome on 6/1/21 10:00 AM

You’ve built an emergency fund, scrimping and saving all the way. First, it was $100. Then, it hit $1,000. Finally, you saved enough to cover several months of expenses.

Topics: Savings
3 min read

What You Need to Know About Disability Insurance

By Life Happens on 5/18/21 9:01 AM

What would you say is your biggest asset?

Topics: Disability Insurance Advanced Planning life happens
2 min read

Who is Responsible for a Decedent’s Medical Debt?

By EveryIncome on 4/26/21 11:00 AM

Whether they pass as the result of a prolonged period of illness or an unexpected accident, the death of a loved one is never easy. Many families end up worrying about the costs associated with a decedent’s end-of-life care while they are trying to grieve their loss, and making sense of funeral bills, medical expenses, and insurance can be incredibly daunting. When people pass away after receiving medical care, their family members are often left to wonder what happens to the decedent’s medical debt. Medical debt can take out a significant portion of a deceased person’s estate, but determining who is responsible for paying off this debt if the estate is unable to pay in full can be difficult.

Topics: Long Term Care Financial Planning Financial Security
2 min read

Why Solid Financial Advice is Crucial for Soon-to-Be Retirees

By EveryIncome on 4/22/21 3:48 PM

For folks who are in the final stretch before retirement, tying up any loose ends is essential. Before they begin traveling, taking up hobbies, and enjoying downtime, retirees must be sure that they have the assets necessary to support themselves. Retirement planning can take decades of hard work, but seeking sound financial advice from a professional can help ensure that retirees are on solid financial footing for their golden years. Whether you are seeking financial advice for the first time or have worked with a professional advisor for years, here are some reasons why soon-to-be retirees should talk to financial experts.

Topics: Financial Planning Benefits of a Financial Advisor Financial Security
2 min read

3 Simple Steps to Become the "Family" Advisor

By Carroll Golden on 3/17/21 4:28 PM

Everyone Would Like to Age-In-Place But…….

Topics: Long Term Care Caregiver Resources Financial Security
1 min read

Investing With a Conscience

By NAIFA on 3/2/21 10:38 AM

Investing while staying true to one’s personal values, including approaches that focus on environmental, social, and governance (ESG) factors, is growing in popularity. While many people want their investments to reflect their personal values, many also question whether they can achieve good financial results with an ESG strategy.

Topics: Financial Planning investing
1 min read

Benefits of Investing Education for Individuals

By Mark Briscoe on 2/22/21 10:02 AM

While the stock market tends to dominate news cycles surrounding any current large-scale event, too many average Americans are uneducated when it comes to investing. When many people see reports of record market highs and losses, massive government bailouts, and changing legislation regarding interest rates and taxes, they do not have the educational background or investing experience to translate these headlines into meaningful analyses and applications for their daily lives. Investing education is critical for all Americans, particularly in times of economic turmoil. Consider these benefits of investing education before diving into financial commitments.

Topics: Education investing Financial Literacy Financial Security
2 min read

Why You Need Life Insurance For College Funding

By Mark Briscoe on 2/22/21 9:58 AM

If you have children or are planning to start a family in the future, you must be aware of higher education costs. If you have not yet adopted a saving plan, you might get yourself caught up in limbo. But do you know life insurance can be used as a funding source for your children's college fees? Yes, other than funds from your spouse's premature death, life insurance has a saving component known as cash value. This feature of life insurance gives an allowance of portions of your premiums to be invested.

Topics: Life Insurance Financial Planning Planning in Advance Benefits College
1 min read

Three Long-Term Care Concerns for Women

By Suzanne Carawan on 2/22/21 9:55 AM

As a woman, you will need to think about your future. This includes considering your long-term care (LTC). For example, you may need to take care of your loved ones. This doesn't account for problems life can throw at you, which will pose further problems for your LTC. We want to address some LTC concerns you could face and different ways you can handle them.

Topics: Long Term Care women
1 min read

Life Insurance and Education Goals Go Hand in Hand

By NAIFA on 2/22/21 9:52 AM

The thought of financing college for your child can be overwhelming. The cost for a state university is prohibitive for the average family. Private universities' annual costs can rival your salary. Most families with young children probably haven't even begun to consider these costs -- they are too busy putting food on the table and paying for their home. But the early years are a great time to begin planning for future educational expenses.

Topics: Annuities Life Insurance Education College
3 min read

Life Insurance vs. a 401(K): Pros and Cons

By EveryIncome on 2/11/21 9:28 AM

The countless choices can be mind boggling while researching your retirement investing options. However, there are certain decisions that should not be either/or.

Topics: Retirement Planning Life Insurance Retirement 401(k) Press Release Financial Security
2 min read

Life Events Impact Your Insurance and Financal Services Needs

By NAIFA on 2/10/21 1:00 PM

Ah, life. It continues whether we are prepared or not. But preparation is key to navigating life events that affect our finances. 

Marriage

Two become one, and that means shared responsibilities and incomes. Let's face it -- life insurance may not be top-of-mind for couples embarking on a lifetime together, but perhaps it should be. If one of you was unable to work, could you afford your mortgage or your day-to-day bills? 

If you start your financial planning early in your marriage, you'll have a better chance for financial success, and you'll increase your future options. 

Topics: Retirement Planning Life Insurance Consumer
3 min read

When to Use an Emergency Fund: 5 Do’s and 5 Don'ts

By EveryIncome on 2/9/21 1:29 PM

You’ve built an emergency fund, scrimping and saving all the way. First, it was $100. Then, it hit $1,000. Finally, you saved enough to cover several months of expenses.

Topics: Financial Wellness Financial Security Emergency Savings
3 min read

What to Include in Your Financial Plan

By EveryIncome on 2/8/21 4:44 PM

Individual financial planning is the process of putting together a “living” schematic organizing your personal finances to help you secure a solid financial future.

Topics: Financial Planning Financial Security Savings
1 min read

Three Reasons to Start Planning ASAP for Retirement

By NAIFA on 2/8/21 1:47 PM

Some people forget to plan for the future when they focus on their current situations. While you may think you don't need to worry about retirement yet, you should start planning for it. Doing so can help you in various ways, especially as you put forth effort to plan and start saving for your retirement. Let's talk about the benefits you will enjoy if you start right away on your retirement plan.

Topics: Retirement Planning Financial Security
1 min read

Consumer Resources for LTC Insurance: Agents and the NAIC Buyer’s Guide

By NAIFA on 2/8/21 9:43 AM

A recent Wall Street Journal article (subscription required) by financial columnist Glenn Ruffenach discusses the importance of planning for long-term care and identifies insurance and financial professionals as an important source of guidance for consumers. He says that “your best first step is not to shop for a carrier or policy. Rather, it’s to shop for a knowledgeable, independent agent.”

Topics: Long Term Care Limited & Extended Care Planning Center Financial Security
2 min read

Retiring Soon? What You Need To Know About Tax Planning

By EveryIncome on 2/4/21 8:30 AM

Many Americans look forward to retirement as a time when the pressures of the working world are behind them. However, it can also create new challenges—especially around tax season.

Topics: Retirement Tax Savings Tax Financial Security
2 min read

Want To Eliminate Debt? Don’t Make These 5 Mistakes

By EveryIncome on 2/2/21 8:30 AM

Congratulations! You’ve made the commitment to get yourself out of debt.

Eliminating debt is an important and difficult goal to achieve, but it can be done — if you do it the right way. Here are five common mistakes to avoid:

Topics: Financial Security Debt
1 min read

Four Reasons to Consider Permanent Life Insurance

By NAIFA on 2/1/21 4:42 PM

Life insurance is not one-size fits all. Term policies tend to be less expensive and provide crucial protection for many families, but permanent life carries benefits you may not have considered. An insurance and financial advisor, such as a NAIFA member, can help you determine what type of coverage best meets your goals and fits your financial plan.

Premiums Never Change

One of the best benefits of permanent life insurance is that premiums are locked in on the policy's start date. Premiums don't change as long as they are paid, regardless of what might happen to your health as you get older. Buying early and when rates are good can provide a substantial long-term benefit for young people who get permanent life insurance. 

 

Topics: Life Insurance Financial Security
3 min read

The Beginner’s Guide To Saving For Retirement — At Any Age

By EveryIncome on 2/1/21 4:06 PM

Do you have a retirement savings goal? Do you know how much you need to save?

Chances are good you don’t. Most Americans have no idea how much they need to save to live comfortably in retirement.

People of any age can make a plan, no matter your age.  This advice will help you determine your retirement savings goal — and get there. Starting now.

Topics: Retirement Planning Retirement Financial Security
5 min read

Which Retirement Plan Is Right for You?

By EveryIncome on 1/28/21 10:10 AM

When you retire, do you plan on doing one or more of the following?

Topics: Annuities Retirement Planning Retirement 401(k) Financial Security
2 min read

Steer Clear of These 5 Tax-Planning Pitfalls

By EveryIncome on 1/26/21 2:15 PM

We all make mistakes. But errors in your taxes can prove costly. That’s why it’s important to educate yourself and find a quality tax planner who can help navigate you through the daunting process.

Topics: Financial Planning Tax Savings Tax Financial Security
5 min read

How’s Your Financial Health? Our 10-Point Checklist Will Give You an Idea

By EveryIncome on 1/25/21 3:13 PM

Whether you’re just starting out in your career or approaching retirement, organizing your finances and knowing exactly what you need to do to prepare for the future can feel daunting.

Topics: Financial Wellness Financial Literacy Financial Security
2 min read

What Are Mutual Funds?

By EveryIncome on 1/20/21 9:37 AM

Mutual funds are popular investment opportunities: They are a way for investors to pool money to invest in specific assets, from stocks and bonds to other investments. Mutual funds allow the average investor opportunity to diversify their investments while accessing global markets.

Topics: Retirement Planning Retirement Financial Security Savings
2 min read

Living Paycheck To Paycheck? How To Cope With Financial Stress

By EveryIncome on 1/19/21 10:32 AM

Are you feeling the gnawing pain of financial anxiety? You’re not alone. A majority of Americans (59 percent) report that they live paycheck to paycheck.

Topics: Financial Planning Financial Security Budgeting
2 min read

Why You Should Consider a Career in Finance

By NAIFA on 1/18/21 10:37 AM

Students are always spoilt for choice when it comes to choosing a career field to explore. However, unknown to many, the finance industry is one of the best career choices that a student can ever make. For starters, the insurance industry alone is expected to have about 400,000 job openings in the next ten years and that is just a piece of the finance industry's cake. Here's why you should consider a career in finance:

Topics: Professional Development finance Future Leaders
1 min read

Top Benefits of Choosing a Career in Financial Services

By NAIFA on 1/14/21 9:00 AM

Many students don't understand what a career in financial services entails leave alone what the term "financial services" means. The finance service industry is an exciting global industry that is constantly advancing and expanding. It comprises various types of businesses involved in managing money, and it plays a significant role in building the economy. Despite upturns and downturns, the industry has a reputable history as a sought-after career destination for bright and ambitious youths. There are so many reasons why students should consider this job sector. Some of them include:

Topics: finance Benefits of a Financial Advisor Future Leaders Higher Education
1 min read

Why You Should Care About Building Credit

By EveryIncome on 1/12/21 5:02 PM

While many individuals see credit as an essential part of personal finance, some avoid credit cards and loans altogether. Although avoiding debt is admirable, building credit is critical for various significant purchases and life events. Building credit responsibly is an excellent way to ease the path towards homeownership, financial stability, and more. Here are three reasons why you should care about building credit.

Topics: Financial Planning Financial Wellness Financial Security
2 min read

Is the ‘4 Percent Rule’ for Retirement Still Valid?

By EveryIncome on 1/12/21 1:40 PM

When you retire, how much of your retirement savings can you withdraw each year without running out? One of the general guidelines is the 4 percent rule, but it’s important that you treat it as just that: a guideline.

Topics: Retirement Planning Financial Planning Retirement Financial Security
1 min read

4 Daily Tasks to Help Individuals Master Finances

By EveryIncome on 1/11/21 3:26 PM

Becoming financially stable is a process that takes hard work and persistence; nobody goes from drowning in debt to the picture of financial health overnight. Like the formation of any other good habit, it takes daily commitment and continual learning to master finances. While individuals may have a variety of unique goals, there are a few strategies that almost anyone can use to improve their financial health. Master finances by making your financial health a priority and incorporating these four habits into your daily routine. 

Topics: Financial Planning Financial Literacy Financial Security
2 min read

Money Management 101: A Few Basic Concepts

By NAIFA on 1/8/21 11:19 AM

Surveys indicate that many Americans lack basic financial literacy. Yet, simple money-management skills can help prevent a person from getting themselves into financial trouble and help them lead a better life in general. This article covers a few basic money-management concepts. Insurance and financial services professionals, such as a NAIFA members, can give you much more information and help develop strategies to boost financial literacy and get your money management on the right track.

Establishing An Emergency Fund 

The very first thing that anyone should do if they want to insulate themselves from potential financial harm is create an emergency fund. The amount to set aside for emergencies varies based on individual circumstances, but most experts recommend between $500 and $1,000 to get started. For many, that is enough money to help allay an unexpected expense. No matter who you are, a vehicle can break down, an unexpected medical expense can arise, or any number of other unexpected expenses may come about and cause problems for someone who does not have the shelter of an emergency fund. As your finances grow more complex, a larger emergency fund may be appropriate. 

Topics: Life Insurance Financial Literacy Financial Security
2 min read

Tax Planning For The Everyday Person

By EveryIncome on 1/7/21 9:49 AM

“Tax planning” is a phrase many people associate with large corporations, the rich and powerful, or super-humanly organized accountant types.

Topics: Tax Savings Financial Security
2 min read

Retirement Planning: Questions To Ask Your Aging Parents

By EveryIncome on 1/5/21 10:16 AM

As people get older, many must begin to rely more upon their children for care and support. Even the most independent retirees often chat with their kids to discuss finances, medical concerns, and housing plans for their golden years. Some people wait until they experience an accident or health scare to share their plans with loved ones, while others put off these conversations until it is too late. People with aging parents (or retirees with adult children) should be proactive about discussing these difficult topics and life decisions. If you are an adult with aging parents, consider sitting down with them to discuss retirement planning, estate planning, and their wishes regarding housing and end-of-life care. 

Topics: Retirement Planning Financial Security
1 min read

Financial Planning Goals for Thirtysomethings

By EveryIncome on 1/4/21 2:43 PM

As people enter their thirties, they can find themselves facing a variety of significant life events. Planning for these experiences is critical, and folks in their thirties should take the time to create a list of goals for their financial future. Thirtysomethings run the gamut from new professionals starting their first office job to high-tier executives making six figures, and every person’s financial planning goals will be different. Whether you are just embarking on the search for your own place or you’re getting ready to have your third kid, consider these financial planning goals for folks in their thirties.

Topics: Financial Planning Financial Security
6 min read

10 Tips for a Financially Bright 2021

By LIMRA on 12/30/20 7:18 PM

By LIMRA and LOMA

Topics: Financial Planning Education Debt Savings
1 min read

Savings Strategies That Work

By NAIFA on 12/28/20 6:23 PM

Setting money aside on a regular basis is not an easy task for most consumers. But the uncertainties brought on by COVID-19 have underscored the need for all of us to renew our efforts on building up our savings, which can serve as an emergency fund for a rainy day. The beginning of the year is as good a time as any to start or enhance your savings program.

Topics: COVID-19 Financial Security Savings
2 min read

Americans’ Top 10 Financial Resolutions

By NAIFA on 12/23/20 12:48 PM

The following article by WalletHub highlights the top 10 financial resolutions of Americans for 2021:

Topics: Health Financial Security Savings Budgeting
2 min read

Your Year-End Financial Checklist

By NAIFA on 12/23/20 11:28 AM

The end of the year -- as if you don't have enough to do with holiday preparations -- is a great time to review your finances. There may be changes to make during insurance open enrollment or before the start of the new year.

Topics: Consumer Financial Security
4 min read

The Power of Compounding Interest

By NAIFA on 12/23/20 9:30 AM

When it comes to preparing for the future and retirement, nothing helps more than a healthy savings account. But what if your savings just doesn’t feel like it will be enough to cover future monthly expenses? 

That is where the power of compounding interest comes in. Compound interest is a means of investment that makes your saved money grow just by existing in your account.

Topics: Financial Security
1 min read

How Financial Education Tools Can Boost the Bottom Line

By NAIFA on 12/21/20 5:02 PM

Any manager worth their salt knows the value of a prepared team. Providing ample resources, both in terms of professional growth and personal wellness, is a valuable asset for any workforce and encourages staff members to be proactive and productive. Many managers find their staff to be more relaxed, focused, and attentive when they can set aside distractions like health concerns, financial stresses, and other complications from their home lives. Career planning and financial education tools can be a wise investment for employers who want to boost their team’s focus and minimize unnecessary stress.

Topics: Financial Security
3 min read

Security Tips for the Giving Season

By NAIFA on 12/18/20 4:13 PM

(The following tips from Morgan Stanley will help ensure your donation is going where you want it to go.)

Topics: Cybersecurity
2 min read

How Homeowners Can Save Money on Renovations and Maintenance

By EveryIncome on 12/17/20 8:48 AM

While buying a home is a significant expense itself, homeowners will also spend a great deal of money on renovations, additions, and maintenance after they buy. It can be easy to overspend on renovations and remodeling expenses, but there are plenty of ways for homeowners to save money. Consider these tips to help you save money when remodeling, repairing, or maintaining your home.

Topics: Getting Started Financial Planning Financial Wellness Financial Security
1 min read

Personal Finance Education Basics: 3 Popular Topics to Sink Your Teeth Into

By NAIFA on 12/16/20 8:33 AM

For those who are just starting to get serious about their money, delving into personal finance education is a critical endeavor. Not everyone is exposed to finance-focused lessons in school. Many of us are expected to jump right into adulthood with very little formal education on things like loans, investing, and credit. If you are just starting your personal finance education journey, consider learning more about these three topics.

Topics: Getting Started Financial Planning Financial Wellness Financial Literacy
1 min read

Budget Basics: How to Save Money on Food Without Going Hungry

By EveryIncome on 12/15/20 9:17 AM

Aside from housing and transportation, many people find that food is one of their largest spending areas each month. Between groceries, work lunches, and dining out, food costs can be a silent budget killer. Because we all need to eat, eliminating this line item is not possible. However, there are a few ways that individuals and families can save money by cutting their food budget. Consider following these tips to save money on food — without going hungry or eating instant ramen for every meal.

Topics: Financial Planning Financial Security Budgeting
3 min read

Impact of COVID-19 on American Consumers

By NAIFA on 12/11/20 2:00 PM

One in 3 Americans say COVID-19 has changed their attitudes to saving, investing and advice, ranging from increasing anxiety levels to greater receptivity to financial advice.

4 min read

Tips for Buying Life Insurance

By NAIC on 12/10/20 4:54 PM

The following tips from the National Association of Insurance Commissioners will come in handy you as you buy life insurance:

2 min read

Ask These 4 Questions Before Borrowing Money

By NAIFA on 12/10/20 8:07 AM

Whether you’re seeking financial help for education, medical expenses, or a large home or auto purchase, borrowing responsibly is critical. Being well-informed on both the options available for loans and the terms of your specific loan is a must, and any missteps can lead to significant financial trouble in the future. Interest rates, repayment terms, and fees and penalties can be challenging to navigate for newcomers, so developing a baseline of financial proficiency is essential. Make sure that you have the answers to these four crucial questions before borrowing money.

2 min read

Five Ways Spouses Can Tackle Financial Issues

By NAIFA on 12/8/20 10:29 AM

Although many Americans have had to put their nuptial plans on hold, plenty of couples are still working towards their dream weddings — and everything that comes after. Any married couple will tell you that marriage is hard. It takes dedication, hard work, and love on both sides to make things work. Unfortunately, many couples struggle most with the financial aspect of their relationships. Whether you are newly married or are looking to tie the knot at a later date, discuss these five pieces of financial advice with your partner and get a head start on a financially healthy marriage.

Topics: Financial Planning Financial Security Marriage Family
2 min read

Strategies for Navigating Medical Debt

By NAIFA on 12/7/20 4:31 PM

Medical care in the United States is astoundingly expensive. While many employers and government agencies offer health insurance plans, many people are either unemployed, underinsured, or otherwise left without appropriate coverage. Something as simple as breaking a leg or having your appendix removed can cost thousands of dollars, and treating conditions like cancer or diabetes is even more expensive. Navigating the world of medical debt can be incredibly challenging, but these strategies can help individuals and families work toward being debt-free.

Topics: Strategy Debt Medical Recovery
2 min read

Life Happens’ Scholarship Program Awards Over $350,000 in Scholarships!

By Life Happens on 12/3/20 6:18 PM

Life Happens has announced the recipients of the 2020 Life Lessons Scholarship Program Awards. This year, the association has awarded a record $351,000 in scholarships to a total number of 48 incoming and current college students in the U.S. who lost a parent or guardian who had little or no life insurance.

2 min read

NAIFA and EveryIncome Announce Educational Partnership

By NAIFA on 12/3/20 2:22 PM

The National Association of Insurance and Financial Advisors (NAIFA) and EveryIncome have completed an educational partnership agreement, under which EveryIncome will provide content for blog posts, as well as articles for NAIFA’s Advisor Today. NAIFA and EveryIncome will work together with financial professionals to educate consumers on financial literacy and client life event solutions.

Topics: Financial Security Alliance Financial Security
4 min read

Creating a Budget for Your Family

By NAIFA on 12/3/20 10:07 AM

(The following article was written by Kia Young and can be found on the America Saves website at https://americasaves.org/blog/1754-creating-a-budget-for-your-familywebsite).

2 min read

Understanding Your Responsibilities as A Life Insurance Policy Beneficiary

By NAIC on 12/2/20 7:05 PM

As Millennials approach 40, life insurance should be on their agenda, but many of them are not prepared. The following article by the National Association of Insurance Commissioners explains some of the responsibilities of a life insurance beneficiary.

3 min read

COVID-19 Is Causing Stress for Many Consumers

By NAIFA on 11/27/20 12:03 PM

According to a survey released by the National Endowment for Financial Education® (NEFE®), nearly nine in 10 Americans say the COVID-19 crisis is causing stress on their personal finances.

Topics: Financial Planning COVID-19 Financial Security Emergency Savings Savings Pandemic
3 min read

Staying Safe While Shopping Online During the Holidays

By NAIFA on 11/27/20 11:11 AM

This article offers information on safe online shopping, based on tips provided by Ronny Bazan-Antequera, cybersecurity expert at the University of Missouri.

What are the 4 biggest myths about Long-Term Care?

By LTCI Partners on 11/25/20 11:13 AM

More and more baby boomers are becoming familiar with long-term care as they help take care of aging parents. However, there continues to be a lack of understanding about how much long-term care costs and who pays for it. Here are the facts - with an aging population, a shrinking workforce, and reduced government money for financial aid, it will be an issue that impacts everyone. Take a look at these four myths of care:

Topics: Retirement Planning Financial Planning Aging in Place Retirement Gerontology/Aging Financial Literacy
4 min read

10 Ways to Save Money When You're Out of Work

By NAIFA on 11/24/20 6:23 PM

Looking for ways to save money in these cash-strapped times? Look no further than in this article by Nicole Dow, senior writer at the Penny Hoarder.

2 min read

Keep Your Legacy Out of the Hands of Hackers

By Ashley Schopp on 11/24/20 12:15 PM

In July alone, there were 2.3 billion records[1] breached globally. That’s about 74 million a day, an astounding number of people to be subject to a cyber attack. Domestically, there’s an attack every 39 seconds, affecting one in three Americans a year.[2] The same study explains how hackers are able to levy so many attacks a day. They program software to strike large numbers of computers simultaneously and write code that controls which usernames and passwords to try – those that the hacker believes are most likely to be used.

Topics: Protection Cybercrime Financial Security Internet Cybersecurity
1 min read

College Financial Aid During The Pandemic

By NAIFA on 11/23/20 11:40 AM

Financial aid is an essential part of the college experience.  According to the National Center For Education Statistics, 85% of undergraduates in the US were awarded financial aid in the 2016/2017 school year. However, in the age of COVID-19, many students are worried that income changes may impact their ability to pay for school. Here are a few tips to navigate the unchartered territory many colleges students find themselves in for the 2020/2021 school year.

Topics: Financial Planning Strategy Financial Security Future Leaders University College Higher Education
1 min read

3 Steps to Get Money in the Bank and Debts Paid

By NAIFA on 11/20/20 9:01 AM

You've heard it before, but it's worth repeating: we are living in unprecedented times. This is not normal. Whether you've lost your job during this time, or are feeling lucky that you didn't, the crisis certainly has made everyone take a closer look at their financial security. Would you feel steadier right now if you had a stockpile of money in the bank? Would a weight lifted be off your shoulders if you had no monthly credit card or student loan payments? You might feel like you have to choose between putting money in the bank or paying off debt, but you can have it all! You just have to do it one step at a time. Here's an easy, 3-step process for building an emergency fund while paying off debt.

Topics: Financial Planning Security Financial Security Assets Debt Emergency Savings Savings
2 min read

Funding in COVID-19: Resources to Support Higher Education

By NAIFA on 11/19/20 11:12 AM

Nearly 15 million students are enrolled in fall semester classes throughout the United States this year. Approximately 72 percent of those students have received at least some form of financial aid according to the Washington Post. Those who do not receive financial aid will need to file a Free Application For Federal Student Aid, or FAFSA, form to receive funding. That form is a lifeline to many students not able to pay for their higher education otherwise. This begs the question: What are people whose incomes have been damaged by COVID-19 supposed to do now?

Topics: Getting Started Research Benefits Consumer Professional Development Current Issues Financial Wellness COVID-19 Financial Security Future Leaders University College Higher Education
2 min read

How to Insure Your Future Self

By NAIFA on 11/18/20 10:01 AM

Have you considered what would happen if you were unable to work for an extended period of time? We're here to ease your fears. Keep reading for a breakdown of what disability insurance is, how to find out if you're covered, and what steps you can take to prepare for a brighter future. 

Golden Years

You've just entered the job market, or graduated from school. You understand even though you don't have much money now, that your earning years are about to begin. Thinking of your future fills you with unbridled enthusiasm. You can daydream about your perfect wedding or your perfect vacation. Even your perfect retirement. But have you daydreamed about disability? One day you're able to work, the next you're not. It might even be a temporary disability, knocking you out of commission for six months to a year. What would you do then? Do you have an emergency fund that could cover six months or more of expenses? Although no one likes to consider such traumatic and heartbreaking events, they're a real possibility. In fact, approximately 25% of people can expect to be out of work for at least a year in their lifespan.That's why it's imperative to plan ahead. 

Topics: Disability Insurance Financial Planning Retirement Worksite Benefits Financial Literacy Future Leaders Earnings
2 min read

3 in 4 Americans Are Currently Avoiding Financial Risks

By NAIFA on 11/11/20 6:21 PM

With Biden’s election and the Senate majority still undecided, there is mounting uncertainty surrounding the transition between administrations and the impact on American investors. As a result, many financial advisors are now tasked with calming the financial worries of their clients amid this ambiguity.

2 min read

Workers See More Value In Employee Benefits

By NAIFA on 11/6/20 3:48 PM

Amid the COVID-19 pandemic and the resulting economic fallout, workers report a significant increase in the value they place on the benefits offered by their employers. This includes a double-digit increase in how likely they are to remain at a job based on non-health benefits, such as retirement savings, disability insurance, life insurance and other tools designed to help them alleviate financial stress.

3 min read

Steps Women Can Take to Improve Their Financial Security

By NAIFA on 11/5/20 7:08 PM

Despite the advances women have made over the past few decades in the workplace, they still face unique challenges in planning for a financially secure retirement. The COVID-19 pandemic has simply added to some of their challenges.

3 min read

Consumer Interest in Life Insurance at an All-Time High

By LIMRA on 11/2/20 5:54 PM

Nearly eight months into the pandemic, Americans’ concerns about COVID-19 and the U.S. economy persist. According to LIMRA’s latest Consumer Sentiment study, fielded in early October, nearly 3 in 5 consumers report being “very” or “extremely concerned” about the virus and half report this level of concern regarding the economy.

1 min read

Halloween Spending and Financial Fears Survey

By NAIFA on 10/27/20 5:38 PM

Halloween is just days away and consumers are expected to spend about $8 billion on the occasion. WalletHub has announced the results of its nationally representative Halloween Spending & Financial Fears Survey, along with its picks for 2020’s Worst Credit Cards, to highlight scary offers that people should avoid this holiday season. Below are a handful of the survey’s highlights:

3 min read

Understand Your Prescription Benefits

By NAIFA on 10/26/20 6:37 PM

A thorough understanding of the prescription benefits covered by your health insurance will help you make good use of those benefits. The following article by NAIC helps you understand your prescription benefits:

2 min read

This Is National Retirement Security Week

By NAIFA on 10/21/20 3:33 PM

This week is National Retirement Security Week, an effort designed to help consumers take concrete steps towards a secure retirement. The following article, excerpted from the National Today website at https://nationaltoday.com/national-retirement-security-week/ will help you make the most of this important campaign.

3 min read

Understand Your Health Plan's Deductible

By NAIFA on 10/14/20 3:38 PM

Read this article from the National Association of Insurance Commissioners (NAIC) to enhance your understanding of your health plan’s deductible:

3 min read

New Resource for Seniors

By NAIFA on 10/13/20 3:39 PM

Although it’s hard to measure loneliness and social isolation, there’s strong evidence that many adults aged 50 or older are lonely or socially isolated in ways that have the potential to put their health at risk. In the past seven months, this issue has become an even greater cause for concern with the COVID-19 pandemic.   

5 min read

10 Ways to Make Affordable Life Insurance a Reality

By Amanda Austin on 10/1/20 7:26 PM

If you are looking for ways make the purchase of a life insurance policy more affordable, you do not want to miss the following article by Amanda Austin on the Life Happens website(www.lifehapens.org):

3 min read

Americans Find Breathing Room between Bouts of Market Volatility

By NAIFA on 9/29/20 4:18 PM

As markets settle from initial COVID-19-related health and economic crises, Americans are evaluating the damage and reassessing their market volatility threshold. According to new findings from the Q3 Quarterly Market Perceptions Study from Allianz Life Insurance Company of North America (Allianz Life) fewer people express concern over a coming recession than they did last quarter (57% compared with 65%), though the number is still higher than it was for all of 2019.

1 min read

American Savings Education Council Foundation Re-Launches Website

By NAIFA on 9/21/20 6:09 PM

The Employee Benefit Research Institute (EBRI), a private, nonpartisan, nonprofit research organization, has re-launched the website of its non-profit foundation, the American Savings Education Council (ASEC) at www.asec.org.

1 min read

Watch Chris Gandy Work

By Suzanne Carawan on 9/21/20 1:29 PM

Chris Gandy is a financial advisor in Chicago that works every day to increase the financial security of his clients. With no minimums, Chris wants everyone to know that having a financial plan is for you--and not just for the wealthy. In fact, Chris wants to meet each person where they are and let's them know that they are always wealthier than they think. He uses common sense approaches to discuss your income, budget, risk and long-term goals such as college and retirement.

Recently featured in Advisor Magazine for his work in financial services and his commitment to financial literacy, Chris is also a model NAIFA citizen. He is President of NAIFA-Chicagoland and volunteers hundreds of hours per year in the community. 

A huge proponent for African-Americans in financial services, Chris often speaks to students about his career and his leap from sports to financial services. Chris will be a featured speaker to university students on NAIFA's upcoming Future Leaders Program which will be held on October 6, 2020 in connection with the University of Illinois where Chris was a star student-athlete before going pro. 

Learn more about Chris in his feature article and about the firm that he founded and now runs called Midwest Legacy Group

2 min read

Millennials and Life Insurance

By NAIFA on 9/17/20 5:09 PM

Millennials (24–39 years old) are approaching a milestone birthday as the first in the generation turns 40. And as they age, there's a chance they will become owners and beneficiaries of life insurance policies. Along with new life insurance policies come responsibilities to be aware of, like learning about key information that will ensure that benefits get paid when needed.

3 min read

Boomers, the Most Confident in their Financial Future

By NAIFA on 9/14/20 3:00 PM

Data from New York Life found that although Baby Boomers are feeling the most rattled by recent events, they have revealed an important lesson for all generations: It is critical to plan ahead to hedge against the unexpected.

3 min read

Cyber-Safety Tips for Students

By NAIFA on 9/10/20 5:53 PM

With back-to-school season in full swing, the danger of online hacks and scams is on the rise. The following article from NordPass offers some useful tips students can follow to ensure a safe online experience:

3 min read

Money-Saving Tips for College Graduates

By NAIFA on 9/8/20 3:46 PM

The following are steps students can take to avoid common money-management mistakes and build financial literacy for success after graduation. These steps, and more financial-literacy ideas, can be found at www.wallethub.com.

2 min read

Understanding Your Insurance Card

By NAIFA on 9/3/20 5:31 PM

The following article from the National Association of Insurance Commissioners (NAIC) provides some useful information on accessing and using your health insurance card:

2 min read

A Brief History of Social Security

By LIMRA on 8/19/20 9:12 PM

A new column on Social Security posted in LIMRA’s Industry Trends, offers a short history of Social Security:

3 min read

Buying Your Dream Home? Protect Your Property with Title Insurance

By NAIC on 8/18/20 3:30 PM

Buying a home is a major decision—one that affects every aspect of our lives. In this article, the National Association of Insurance Commissioners (NAIC) explains why you need to protect your home with Title Insurance.

3 min read

The Difference Between Admitted and Non-Admitted Insurance Carriers

By CARLIE LAWSON on 8/7/20 6:21 PM

When you shop for insurance, you need to understand the difference between an admitted and non-admitted insurance carrier. The terms admitted and non admitted refer to whether a company qualifies for state backing similar to that which the Federal Deposit Insurance Corporation (FDIC) provides for banks. You and your clients are safer purchasing insurance at admitted companies. Here's why.

1 min read

Americans See Increase in Cyber Attacks and Identity Theft

By NAIFA on 8/5/20 3:26 PM

U.S. consumers are worried about their data security, and with good reason. A survey released by HSB, part of Munich Re, shows a continuing increase in identity theft, cyber-attacks and online fraud, as criminals steal personal information and millions of dollars.

3 min read

Avoiding Scams

By Bryan Kuderna, B.Sc., CFP, LUTCF on 7/14/20 9:25 AM

When catastrophe strikes, it’s common nature to feel the urge to band together and unite towards a common goal.  Leaders from small town neighborhoods all the way up to the President have done just that in light of the chaos and confusion created by the novel coronavirus—COVID 19.

Topics: Security Avoiding Scams scams
4 min read

Disability Income Insurance

By NAIC on 7/14/20 8:00 AM

Many people may not realize their most valuable asset is their ability to work. But if illness or injury left you disabled and kept you from earning a living, how would you pay your bills? According to the U.S. Social Security Administration, more than one in four of today's 20-year-olds will become disabled before reaching retirement age.

Topics: Disability Income Insurance
3 min read

3 Myths that May Leave Your Family Unprotected

By Life Happens on 7/13/20 1:50 PM

Many families have common misconceptions about the need for life insurance. Read the below article by Life Happens to learn about the three life insurance myths that may leave your family unprotected from life’s many uncertainties. 

Topics: Financial Literacy

SUBSCRIBE FOR UPDATES