Will I be OK? Putting Plans in Place to Cultivate Financial Security

Will I be OK? Putting Plans in Place to Cultivate Financial Security

Will I be OK? Putting Plans in Place to Cultivate Financial Security | Ande Frazier

If I had a dollar for every time someone asked me whether their financial future would pan out, I’d be writing this from my superyacht. In all seriousness, though, it’s a crucial question—one that only you can answer!

Over the course of your life, numerous financial opportunities and obstacles will present. While you cannot predict the issues that will arise, you can—and should—take steps to protect yourself today and tomorrow. Do so sooner than later, as you can’t establish safeguards after the fact.

With that in mind, let’s talk about a few of the different types of financial protection you can employ. Keep in mind that a decision, or lack thereof, in any of these areas can have a tremendous impact on a woman’s ability to keep exponentially expanding and growing her worth.

Life insurance: When it comes to life insurance, there are a number of factors to consider and choices to make. My latest newsletter—and my book Fin(anci)ally Free: 11 Conversations to Have With Yourself About Life, Money, and Worth—touch on them in greater detail, but in essence you must answer two basic questions:

1) How much should I have?

2) What type should I own?

You can seek out those answers yourself or turn to the help of a pro. Either way, the goal is to take a comprehensive approach so you can cover both specific and unforeseen needs.

Wills and Trusts: I’ve met countless women who simply assume they will not die anytime soon. Combined with the reality that they don’t have many assets, they determine they don’t need a will—or that they will draft one at some point down the line. Then, life proceeds to “happen” and this to-do occupies a permanent position on the back burner.

Do you need a will? Well, answer this: Do you want the state to decide where your assets will go? If the answer is “no,” it’s time for a primer on how wills and trusts function. That education can help ensure your heirs are protected and that your wishes are fulfilled, including who gets what and whether final preferences—such as cremation versus burial—are known and respected.

Health Insurance: Having proper coverage can save you thousands and provide peace of mind. With most US health plans tied to employment, make sure you assess health benefits before you accept a new job, launch your own business, or become self-employed.

Homeowners and Auto Insurance: These are essential for a protected life. After all, you never know what the future holds. A word of advice: This is not a place to skimp—you want the best plans you can afford from top-rated insurers.

As you navigate these and other protective options, remember that how you proceed will have an impact on your financial outcome, for better or worse. That truth can be difficult to handle, but it’s also empowering. 

What is Your Money Mindset?

Don’t be afraid to understand your money and yourself

Money does not define who we are, however, it is not a relationship we can afford to ignore. By taking Ande’s assessment, you will have a clearer understanding of your money mindset—your core, and often unspoken, beliefs about money.

Take the Assessment Today!