Prudent Protection

Key Takeaways

  • Insurance helps reimburse us for the losses we incur over our lifetime.
  • The two kinds of insurance cover us and our property. Life and health insurance covers us, and you can get insurance for any kind of property, for a cost.
  • Choose higher deductibles to keep your insurance premium payments low, if it fits your personal situation.

Healthy Con$equence$

Key Takeaways

  • Medical bills are the number one reason for personal bankruptcy, so take a look at your health insurance options before deciding against coverage.
  • Health insurance helps defray the costs of medical care and is provided through your employer, or bought personally through health care exchanges.
  • Premiums, deductibles, co-pays, and the option for dental and vision coverage are all costs associated with health insurance.
  • Flexible Spending Accounts and Health Savings Accounts are both great tax-advantaged health insurance options.

Transitional Ownership

Key Takeaways

  • Transitions in life directly affect how ownership changes.
  • Several primary forms of ownership include Sole Ownership, Joint Ownership, Tenancy in Common, Tenancy by the Entirety, Trust Ownership and Guardian of Assets.
  • It’s important to understand that ownership changes when major life events happen so that you can plan for these changes and ensure your assets go where you want them to.

Home Improvements – Now and Later

Key Takeaways

  • Think about making your home improvements in terms of immediate, short term, and long term.
  • Planning, budgeting and financing your home improvements are three important steps in ensuring you are able to make the improvements you need to enjoy your home, as well as to get a better return on your money when you sell it.
  • You can do some improvements yourself to save some money, but leave the complex work to professionals who know the codes, regulations and can ensure the work is done right so you don’t run in to issues when you go to sell your home.