You’ve got your budget; you’ve got your emergency fund; you’ve got your 401(k) retirement account. So all your financial bases are covered, right?
Wrong.
You could be overlooking some major holes in your financial plan, and if you are, they could affect not only your future but that of your kids – and maybe even your grandkids.
The following are ways you could be ruining your family’s chances of financial success.
1. You’re not protecting your biggest asset
It’s said that a person’s house is their castle, but what happens if your castle burns to the ground or gets hit by a hurricane or has a tree land on it in a storm? Is your homeowners insurance going to pony up the money for repairs or a replacement?
If you don’t know the answer to that question, it’s time to start doing some research. Start at Policygenius to compare offers and save big bucks. They have helped more than 30 million people find the insurance coverage they need.
With Policygenius, you answer a few questions and then get multiple choices for homeowners insurance policies. You can review the quotes quickly and easily and then apply for your new insurance policy with a few simple clicks.
It doesn’t take very much time — and you could put a bundle in your pocket instead of some insurance company’s.
2. You have less than perfect credit (or none at all)
Money mistakes you made when just starting out can haunt your credit profile for years. So can things you can’t control, like illness or unemployment.
CreditStrong is one source to help you improve a poor score or go from being credit invisible to having a healthy credit report.
They offer specific tools that can help you build credit fast, build a payment history or expand the amount of credit available to you.
Through a series of installment loans — with no upfront security deposit required — CreditStrong helps you build a solid credit history. There are no fees upfront, no hard credit pull and no minimum credit score required.
CreditStrong is one way to turbocharge your financial wellness and put you on the road to a more secure financial future.
3. You’re carrying unnecessary debt
Every dollar you pay in interest makes you a dollar poorer. So make this the year you pay less to your lenders and keep more for yourself.
National Debt Relief is one of the most respected providers of debt relief in the country. They’ve helped more than 500,000 people, are A+ rated by the Better Business Bureau and also top-rated by TopConsumerReviews, TopTenReviews, ConsumersAdvocate and ConsumerAffairs.
How it works: You fill out a form on the company website, then a debt coach will call you to learn more about your situation. If they can help you, they’ll set you up with an affordable plan that works for you — and give you an estimate of when you can expect to be debt-free!
There’s also no upfront fee and no obligation to get started.
National Debt Relief can help you with almost any unsecured debt, like credit cards, personal loans, medical bills, repossessions … even some student loan debt.
Ready to start a new, happier chapter of your life?
Click Here and See What They Can Do for You
4. You’ll bankrupt yourself with long-term care
You’re healthy now, but don’t kid yourself about the future. The government says there is an almost 70% chance that someone turning age 65 today will need long-term care at some point in their lives.
Even worse for your pocketbook, 20% of people will need care for longer than 5 years.
With monthly costs for a private nursing home room running upwards of $9,000 a month on average, long-term care can quickly bankrupt you. Medicare doesn’t pay for ongoing care, and Medicaid will require you to spend almost everything you have before they help out.
The answer is to check out long-term care insurance. This product can be more affordable than you think, especially if you buy it early.
Without LTC insurance, your options aren’t great: running through savings, borrowing money, burdening your family with your care, and possibly losing independence because you can’t live on your own.
It’s impossible to say whether your current health will stay good. That’s why investigating long-term care insurance through GoldenCare is so important: It protects you and your family.
Note: GoldenCare does not operate in Alaska, Florida, Hawaii and Washington.
5. If you die, your family will be left high and dry
Death is an unpleasant topic, but ignoring it could be financially devastating for those you might leave behind.
If something happens to you tomorrow, how would your family pay the bills? How would they cover your funeral expenses? The mortgage? The kids’ college tuition?
Shopping for life insurance used to be a long, complicated process. Now? Not so much. For example, Ethos is a company that lets you apply online in minutes without getting off the couch.
There’s no medical exams, no blood tests, and you can get term life insurance ranging from $100,000 to $2 million. And for around $1/day you can get $250,000 in term coverage: less than you might be spending now on coffee.*
Simply answer a few online health questions and get a personalized quote in less than five minutes.
This could be the most important thing you ever do for the people you love.
And Ethos is rock solid: They’ve protected more than 100,000 families and have provided over $34 billion in coverage. So, why not check it out?
*Sample quote based on 20-year term for 40-year-old nonsmoking male.
6. You’re not investing in real estate
It used to be that investing in commercial real estate, like apartment or office buildings, required lots of money and lots of expertise.
Not anymore, thanks to an online investing platform called Fundrise. Now people with modest amounts of money (i.e, $10) can own a slice of a real estate portfolio.
Fundrise tears down the traditional barriers needed to invest in real estate property, and so far over 1.7 million consumers have used Fundrise to invest in commercial property.
It takes as little as $10 to get started investing on Fundrise.com, the platform is easy to use, it’s open to all investors (of all experience levels) and there are other investment options too, like IRAs.
Fundrise.com investments have seen an average annual rate return of 5.29% over the past five years, a stark contrast to the average, annual 0.23% interest your money gets by sitting in a savings account.
Of course, nothing is guaranteed, and past performance is no indication of future results. Still, Fundrise has the potential to make more than you’re making now in the bank — or under the mattress. And you can get your feet wet for as little as $10!
Note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on moneytalksnews.com. All opinions are our own.
7. You’re paying too much interest
NerdWallet’s personal loans marketplace is the ultimate tool to make your life easier. Only takes a few minutes to apply — without affecting your credit score — and if approved by a lender, you’ll have money in your account in no time.
Whether you’re consolidating high-interest debt, financing your next home renovation project, or covering unexpected expenses, NerdWallet’s platform makes finding the right loan quick and easy.
They’ve rated and reviewed loans from more than 35 financial institutions, with loan amounts ranging from $2,000 to $50,000 and APRs as low as 5.40%.
The marketplace also offers a range of helpful resources and tools, so you’ll feel confident and informed throughout the process. It’s never been this easy to find and compare personal loans.
Try out the NerdWallet loan marketplace right now. You’ll be glad you did!
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