Remove Estate Planning Remove Insurance Coverage Remove Medical
article thumbnail

The 5 Pillars of Retirement Planning You Should Be Aware of

WiserAdvisor

Pillar 2: Healthcare planning Healthcare considerations are one of the most significant financial burdens you will likely face during your golden years. As the cost of medical care continues to rise, prioritizing healthcare planning becomes imperative to safeguarding your financial well-being in retirement.

article thumbnail

How Much To Save For A Baby + Key Savings Tips New Parents

Clever Girl Finance

But with the right planning, you can confidently figure out how much to save for a baby and still stay on track with your financial goals! Plan for long-term baby expenses 5. Review your maternity leave and insurance coverage 6. Update your life insurance policy 8. Create or revise your estate plan 9.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

7 Types Of Financial Emergencies And How To Be Prepared

Clever Girl Finance

You’ll also have to add in the cost of your car insurance deductible when calculating the cost of your repairs. Medical emergency. Data from the Kaiser Family Foundation (KFF) highlights that around 41% of American adults have debt from medical or dental bills. Indirect costs of medical financial emergencies.

Medical 77
article thumbnail

Taking Control of Your Finances: Why Financial Planning Matters

International College of Financial Planning

Financial planning helps you prepare for unexpected events like job loss, illness, or emergencies. It ensures you have enough savings and insurance coverage to protect your assets and financial stability, providing financial security.

article thumbnail

The Money Tasks You’re Avoiding And How To Make Progress (Part 1)

Workable Wealth

One of the most common questions about life insurance is how much coverage you’ll need. Your coverage level is unique to you and your situation. Existing insurance coverage. All of these should spark review to potentially increase coverage that meets your changing needs. Medical Directive.

article thumbnail

Sound Strategies for Crafting Your Retirement Investment Portfolio

Fortune Financial

However, this thought can be unrealistic if you are still paying on a mortgage, or if any unexpected medical expenses arise. One major financial factor to consider is that longer lifespans tend to increase medical-related expenses during retirement years. Stay on Top of Estate Planning.

article thumbnail

Why do Physicians Need Financial Advisors and How to Find Them

WiserAdvisor

Financial advisors for medical professionals can offer a tailored approach to managing unique financial landscapes. However, physicians are often consumed by the demands of a rigorous medical career, and as a result, they can easily overlook this essential step. Most physicians carry debt in the form of student loans.