Posted by Trae Wieniewitz
Trae Wieniewitz
Trae has been married to his wife Amber since 2001. Their daughter Abbie was bor
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on Thursday, 07 April 2011
in Financial Planning
In our ever-changing financial and political environment, consumers may want to evaluate their finances in an orderly fashion. So what really defines the financial order of importance? Today I’ll discuss some steps to make sure your family is focusing on all the right things at the right time. 1. Protection Component-Insurance should be a major part of the protection component of your financial life. As a consumer, it’s critical that you have the proper protection so that if there is something unforeseen that happens your life can continue. Build the moat before the castle. (i.e. - car, home, life, medical, liability, wills and trusts, etc.) 2. Savings Component- Your savings component helps prevent you from getting into debt. It’s readily accessible and would be known as your liquid money. A good goal would be 3-6 months of reserves. (i.e. – savings, credit union, money market, CDs, etc.) 3. Growth Component-Your growth...