Getting Married Top 10 to Dos!

Congratulations on your engagement!  Getting married is one of Life's Pivotal Moments. 


You have a great adventure in front of you! Pivot would like to extend an engagement gift to you:  Get the Top 10 Things to Do Before Your I Dos today to start your marriage off on the right track.

What Does Life Insurance Have to do With the Cost of Raising a Child?

It's no secret that raising a family is expensive but what does that have to do with life insurance? Plenty actually, but we will get to that shortly.

A recent US Department of Education annual report on the subject found that a middle-income family raising a child born in 2014 can expect to spend about $241,080 over the next 17 years, that's for one child. Given that the average family has 2.01 children, you can double(or more)that figure),sticker shock to be sure. Though these costs can vary based on a child's geographic location and family income, it's a very good estimate.

This kind of realistic information regarding the long term costs associated with raising a family can be helpful when thinking about how much term life insurance you need. It's best to talk with a knowledgeable life insurance marketplace specialist from a reputable company to decide what best meets your needs but in general, your life insurance need is determined as some multiple of your annual income.  15-20 times is generally a good starting point. While this is a good starting point, knowledge us power and knowing the approximate costs associated with a mortgage, heath care, child care and education can get you closer to the amount of  life insurance coverage you would truly need to ensure that your family is well taken care of should the unthinkable happen. .

Raising a family is a wonderful ,sometimes challenging and as we've seen, expensive adventure. Make sure you've taken steps to secure your family's future for the ride.

Planning Early for Retirement with Life Insurance and Savings Provides Big Benefits

You are young, just out of a college maybe a few years into your career and feeling like you have all the time in the world. Prepare for retirement? The reasons why you might feel that way are numerous. Maybe, you feel like you are just too young, or maybe you feel you can't afford life insurance or to save money every month . Common concerns and sentiments to be sure but the fact is, the earlier you start the easier planning for retirement  the easier and less stressful it will be.

If you have an employer sponsored  401k,that's a great place to start. A 401k with matching funds provided by your employer, even better! Another advantage that most  people who are just starting out have are low taxes. If you are just beginning your career and expect to climb tax brackets as time goes on, this is a great time to put some after-tax money into a Roth IRA. Money in a Roth grows tax-free and is typically not taxed when you take distributions. Pay taxes today for the right to avoid high, and potentially very high taxes in the future. If your employer has a Roth 401k, invest there. The plan is like any other Roth IRA save for the fact that contributions are withdrawn from your after-tax paycheck.

If you don't have a 401k through an employer but have money to invest (graduation gift, wedding present,inheritance, etc.) start with a Roth IRA through  respected brokerage or financial institution offering low-fee investments. If you are working as a freelancer or consultant, basically anything where you receive a 1099,looking into a self-employed IRA, which provides benefits where taxes are concerned.

Another key piece to the retirement puzzle is the right life insurance policy. As with the 401K ,IRA or saving in general,where life insurance is concerned, your youth is on your side. The earlier you get life insurance in place, the more comprehensive, and less expensive it will be.

Life insurance underwriters use a laundry list of criteria in the life insurance application process. Many of these factors include health and wellness issues. Simply stated the younger you are the less likely you are to suffer from  serious medical issues or have symptoms of serious issues such as high cholesterol, high blood pressure or even insulin resistance. Putting a policy in place while you are young ensures that you are more likely to get the coverage you want.

At the end of the day, no matter how old(or young) you are, if you aren't already saving and planning, now is the time to start! Time is indeed on your side, but you have to take advantage of it. Planning for the future now can save you a great deal of money and provide serious peace of mind.