Achieving Financial Independence

For many consumers the concept of achieving financial independence may seem like a pipe dream. However, it is an attainable goal. Next time you gather with friends and family, take a minute to look around and consider what you have (or have not) done to ensure their financial security.

Ask yourself a few questions. Are you financially stable? Have you invested in whole or term life insurance? By taking a few simple steps, you can set yourself up for financial success and protect your family in the event of your death.

Financial Planning

In order to achieve financial independence you will need to set a financial goal. Forecasting your financial future is a great way to visualize your financial goals and outline a strategic approach to get there. What are you contributing to your 401k and/or your retirement savings? How much do you expect your annual income to grow between now and retirement? If you have an investment portfolio, how is it performing? Asking yourself these questions will help you create a realistic financial roadmap and plan for your family’s future. Talking to an investment professional is often a great place to start. He or she can help you better understand your current financial situation and plan for a prosperous future. 

Life Insurance 

Life insurance is a key component in your pursuit of financial independence. Whether you’re single or married with children, having adequate whole or term life insurance coverage can protect and provide for your loved ones. Though a difficult subject, life insurance gives you and your loved ones peace of mind. The average American carries significant debt. From mortgages to car loans and student loans, many consumers have financial responsibilities far beyond their monthly living expenses. These debts are left to your loved ones in the event of your death. If you have a spouse and/or children, your debts may become theirs and if you’re single, your debts will be left to your parents and/or siblings. Term life insurance helps alleviate this issue by providing the financial support necessary to settle your debts and cover other expenses.

Achieving financial independence is an attainable goal; it’s simply a matter of taking your financial future into your own hands. By laying out a financial road map and investing in life insurance, you will be well on your way. So go ahead, complete some research, consult a financial advisor and declare your independence. Have questions about your life insurance options? Please reach out to us, we have a staff of licensed professionals prepared to answer your questions and help you make an educated decision.

As always, for all of your financial and insurance needs, give us a call here at The Storick Group at 800-301-8113 or visit www.goldcoastlifeinsurance.com