Category Archives: Insurance

What is AD&D Insurance?

Dear Alicia, I have the ability to buy AD&D Life Insurance at work. The coverage would cost me less and I would get a higher death benefit than the Term policy I currently have. Should I buy it? I don’t understand the difference? – Insurance Irene  Dear Irene, In general, life insurance is purchased to give those who are dependent on your income a lump sum of cash upon your death so they can sustain their current lifestyle. An AD&DRead More

Share +

We’re “Official.” Now What?

Dear Alicia, We’re getting married soon and are wondering if there are any particular financial steps we should take once we’re “official?” -Ned and Nancy the Newlyweds Congrats Ned and Nancy! Getting married is an exciting and hectic time. Here are the financial steps you should be taking once you are “official.” Goals Start by discussing your financial goals now and in the future. Do you want to buy a home, start planning for a baby, or create an emergencyRead More

Share +

Ask Linda: Which type of life insurance should we buy?

Dear Linda, My husband and I need life insurance. Should we purchase a Term Life or Whole Life policy to protect our young children? Please explain the difference. Underinsured Uma Dear Uma, The purpose of life insurance is to protect those who are dependent on your income in the event of your death. A dependent can be a spouse or a young child, but it can also be a sibling or a parent whom you help financially. While there areRead More

Share +

A Newlywed’s Guide to Updating Insurance

A lot of things change when you get married, including your insurance options. Making sure your insurance is adequate once you are married is an important step to take. You have the option of buying new, combining, and/or discontinuing policies you will no longer need. Here are the insurance coverages we recommend you review or consider purchasing once married. Life Insurance After you say “I Do”, you might need to increase your life insurance coverage. The bills you would leave your spouse with include,Read More

Share +

Advice for All Stages

Recent Graduates / Early Career Typically in your 20’s Cash Flow:  Allocate at least 20% of your gross income to long-term savings and / or paying off debt.  Now is the time to get money invested so it can compound. Start identifying spending habits and patterns by creating a budget or trying out the WholeWallet30. Tax Planning:  For many during this stage, it makes sense to save to a Roth versus pre-tax retirement vehicle since starting salaries tend to be lower than inRead More

Share +

Health Savings Accounts (HSA’s) are an underappreciated vehicle

A health savings account (HSA) allows you to use tax-free money to pay for qualified medical expenses. The money you use to fund the account is not subject to federal income tax or state income tax in most states (California being one exception), and employer contributions are not taxable to the employee. Unlike a flex savings account (FSA), the money contributed to an HSA can be rolled over from year to year. There is no “use it or lose it”Read More

Share +