For a lot of parents or grandparents, watching a family member struggle to buy their first home right now is hard. That's because you saw firsthand how homeownership gave your life more stability and ...
Published May 8, 2020
Life Insurance You Don't Have To Die To Use
Incremental changes can lead to huge changes over time. This is true of changes to just about anything -- from habits to mindsets to financial plans. The only problem is knowing what incremental changes to make that lead to those big changes.
During our lifetime, we go through all types of changes that impact how we spend and save our money. While we cannot predict when we may have a major life event like a critical or chronic illness, we can create a better financial position that can help us get through those events should they happen.
Life insurance is one avenue to prepare for the unexpected. When reading that, you may think that’s true if it was providing financial assistance during a terminal illness or some other death event. However, there are financial products that put the financial liquidity power of life insurance to work while you are still alive.
Known as living benefits, these life insurance products can be one part of a bigger financial planning portfolio that helps you plan for certain events and provide access to financial support without having to dig into your retirement savings.
Watch my discussion with Roger Kessler of MPower Street Financial as he explains how you can make incremental changes to your financial position now that will create a larger financial safety net later on.
