Be A Winner

Today’s woman is not only a breadwinner, but due to longevity she is increasingly becoming the caregiver for loved ones. This is happy girl with money 28178268_sa conversation that is not being talked about enough. If we are making the income, managing our homes, families and life, why is it that statistics show the majority of women  have only $1,000  saved? What does one do when faced with a health or family crisis?

Ten thousand baby boomers will retire every day for the next 19 years. Tax deferred plans are being promoted today, which means you will be paying higher taxes on that money in the future. It’s time to take control. Yesterday’s idea of saving for retirement doesn’t work  as well for those in the sandwich generation, faced with raising children and caring for parents. Where is the financial balance?

Tidbit: If you have a 401k with $450,000, that will roughly be an annual

income of $18,000. Would you be able to live on that? ‘Wait, it will be taxed!

They key today is creating a lifetime income stream. It does exist and

it is a perfect addition to the good work you have done so far.

Here are some things to think about:

1. What is your biggest asset?

hint: If you said your home, you’re wrong. It is your ability to earn.

2. Life Insurance. Do you see the value in it?

Hint: If you said no, you’re wrong.  The right policy is not only a

net-worth gain but can be used while living.

3. Is it too late to start a new plan for your future?

Hint: If you said yes, you’re wrong.  It’s never too late!

Being prepared for an unplanned crisis has never been more needed.The first winning step. Look at what your financial  plan is actually creating for you and does it have liquidity?