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Avoiding the Money Pitfalls of Past Generations

 

Avoiding the Money Pitfalls of Past Generations

Take these financial lessons to heart.

 

Provided by Exemplar Financial Network

 

bigstock--218804002.jpgYou have a chance to manage your money better than previous generations have. Some crucial financial steps may help you do just that.

     

Live below your means and refrain from living on margin. How much do you save per month? Generations ago, Americans routinely saved 10% or more of what they made, either depositing those savings or investing them. This kind of thriftiness is still found elsewhere in the world. Today, the average euro area household saves more than 12% of its earnings, and the current personal savings rate in Mexico is 20.6%.1

Tips for Starting a Business

 

Tips for Starting a Business

Read this before your new venture starts up.

 

Provided by Exemplar Financial Network

 

bigstock-Start-line-on-the-highway-conc-180761905.jpgAiming to start a business? What steps could you take that might promote success and longevity for your company? Here are several.

 

Write a business plan. You will have a tough time attracting an investor without one. Potential hires may want to see your business plan as well. Your plan should establish milestones for your company and include metrics by which you can judge your success. It should detail your revenue model, incorporate an analysis of your competition and the changes that may affect your industry, and contain a marketing strategy.

Your 2018 Financial To-Do List

Your 2018 Financial To-Do List

Things you can do for your future as the year unfolds.

 

Provided by Exemplar Financial Network

  

bigstock-Christmas-Concept--Red-small.jpgWhat financial, business, or life priorities do you need to address for 2018? Now is a good time to think about the investing, saving, or budgeting methods you could employ toward specific objectives, from building your retirement fund to lowering your taxes. You have plenty of options. Here are a few that might prove convenient:

Can We Afford to Live to 100?

Can We Afford to Live to 100?

 

Our increased longevity poses a retirement planning challenge.

 

Provided by Exemplar Financial Network

 

bigstock-birthday-cake-with-lit-candles-53339983.jpgSome of us may retire at 65 and live to 100 or 105. Advances in health care may make this a strong possibility. The corresponding question is: will we outlive our money?

Refrain from Tapping Your Retirement Funds

 

Refrain from Tapping Your Retirement Funds

Resist the temptation. Your future self will thank you.

 

Provided by Exemplar Financial Network

 

bigstock-Retirement-Fund-5464669.jpgRetirement accounts are not bank accounts. Nor should they be treated as such. When retirement funds are drawn down, they impede the progress of retirement planning, even if the money is later restored. 

Are There Blind Spots in Your Insurance Plan?

 

Are There Blind Spots in Your Insurance Plan?

Deficient coverage may cost you someday.

 

Provided by Exemplar Financial Network

 

bigstock-Insurance-small.jpgMany households and businesses are insufficiently insured. The problem is not necessarily the quality of coverage, but the breadth and depth of it. Your own business or household may be more vulnerable than you realize.

 

Too many people go without disability insurance. If you work in a physically demanding field, your employer may provide short-term disability coverage – but many companies do not. According to the Bureau of Labor Statistics, just 39% of workplaces offer employees short-term coverage, and only 33% offer long-term coverage.1

Will Debt Spoil Too Many Retirements?

 

Will Debt Spoil Too Many Retirements?

What pre-retirees owe could compromise their future quality of life.

 

Provided by Exemplar Financial Network

 

bigstock-A-senior-adult-couple-sitting--small.jpgThe key points of retirement planning are easily stated. Start saving and investing early in life. Save and invest consistently. Avoid drawing down your savings along the way. Another possible point for that list: pay off as much debt as you can before your “second act” begins. 

 

Some baby boomers risk paying themselves last. Thanks to lingering mortgage, credit card, and student loan debt, they are challenged to make financial progress in the years before and after retiring.

5 Common Financial Terms - You Probably Should Know

bigstock-Close-Up-Of-Old-English-Dictio small.jpgIf you’re just starting to take charge of your financial future, it can be stressful approaching financial planning with confidence.

Is a Home an Investment?

 

Is a Home an Investment?

From one perspective, the answer is yes; from another, no.

 

Provided by Exemplar Financial Network

 

bigstock-building-mortgage-investment-125889929.jpgWhen you buy a home, are you investing? If you buy it to flip it or buy it as a rental property, the answer is yes. If you buy a home simply to live in it, the answer may be no.

 

Your home is an expression of your lifestyle, a wonderful setting for your life, and a place you can enjoy in privacy and comfort. As an investment, though, it is essentially illiquid, and its rate of return is no sure thing. 

Avoiding the Cybercrooks

 

Avoiding the Cybercrooks

How can you protect yourself against ransomware, phishing, and other tactics?

 

Provided by Exemplar Financial Network

 

bigstock-Computer-Security-Breach-Cyber-small.jpgImagine finding out that your computer has been hacked. The hackers leave you a message: if you want your data back, you must pay them $300 in bitcoin. This was what happened to hundreds of thousands of PC users in May 2017 when they were attacked by the WannaCry malware, which exploited security flaws in Windows.

 

How can you plan to avoid cyberattacks and other attempts to take your money over the Internet? Be wary, and if attacked, respond quickly.

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Have you met your team?

We have a wealth of experience in the financial services industry.

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