Quick IF’s - Week of October 24
Starting this week, I will start presenting weekly Quick IF’s. The plan is to update these weekly posts as the ideas come in so you can tune in and see what’s on my mind. At the end of the week I will send the completed thoughts out in my email newsletter, so if you don’t feel like tagging along on the site you can receive them all in one shot at the end of the week. Email me if you have any topics you want me to cover in the Quick IF of the week. Enjoy!
Insurance planning
Life insurance is important for all young families but you don’t need to break the bank. Term insurance is affordable and can fit your needs.
Emergency fund
If your family only has one income earner you should build a more robust emergency fund. 6 months of covered base expenses is a good rule of thumb because that is a reasonable time with which to find a replacement job.
Disability Insurance
Don’t ignore disability insurance especially if you have a young family. If you are the breadwinner of the family and become disabled, how will you make up the lost ability to make income?
Retirement planning
Even if you are saving for your child's education and current needs, try not to forget, saving for your own retirement. You don't want to put your entire family in a tight financial position when you were older, and unable to generate income.
Estate planning
If you just had a baby, you should update your will to assign a guardian. Make sure you ask the person you assigned so they aren't caught off guard if something happens and deny the guardianship.
Fiduciary Mission
At Integritas Financial, we are committed to providing fee-only, fiduciary financial planning services that are tailored to the unique needs of young professionals, particularly millennials. Our experienced planners work with you to develop customized financial plans that address key areas such as estate planning, trusts and wills, retirement, workplace benefits, education funding, student debt, and buying a house.
We believe in transparent, client-focused service that puts your financial goals at the center of everything we do. As a fiduciary firm, we are dedicated to acting in your best interests, and we never sell products that charge commissions to clients.
Our goal is to help you achieve a stable and prosperous financial future by providing comprehensive financial planning services that are tailored to your individual needs. Whether you're just starting out in your career or you're already well-established, we can help you navigate the complexities of financial planning and create a roadmap for success.