Look at your current financial resources. This is important because your financial resources affect not only your ability to reach your goals, but also your ability to protect those goals from potential financial crises. These are the resources you will draw on to meet various life events.
You do not need to be wealthy to be sued for millions. Juries determine damages based on the severity of an accident, not your ability to pay those damages. Do you own or drive a vehicle? Do you own or rent a home? Do you want to protect the assets and investments that you worked hard to accumulate? If you said yes to any of those, you need an umbrella. The truth is EVERYONE needs an umbrella.
It's no secret that today's college graduates face record amounts of debt. Approximately 68% of the graduating class of 2015 had student loan debt, with an average debt of $30,100 per borrower -- a 4% increase from 2014 graduates.1
Though you won't be able to ride along in your child's suitcase, there are ways you can help him or her make the adjustment to college. You can start by talking with your child about certain subjects before he or she leaves for college and familiarizing yourself with the emotions that he or she will likely face in the first few weeks and months. Then, you can provide a comforting shoulder to lean on.
Social Security is an important source of retirement income for millions of Americans, but how much do you know about this program? Test your knowledge, and learn more about your retirement benefits, by answering the following questions.
a. Yes
b. No
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