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If there’s anything I’ve learned as a parent of two small children, it’s this: Kids are EXPENSIVE. There’s no way to get around it – swim lessons, summer camp, school supplies, birthday parties…Things add up FAST, and those are just the day-to-day things. What gets my heart racing even faster is thinking about the big picture stuff, the future costs of college and raising teenagers and someday (SOMEDAY!) being able to enjoy retirement. If you feel confused or overwhelmed by your financial situation and how to balance it all while raising a family, you are definitely not alone.
Last week I had the opportunity to chat with Financial Representative, Katie Myers, a Madison mom with COUNTRY Financial. Katie has committed her career to helping young families in our community navigate their financial picture. She personally understands the unique financial struggles facing young families and works with them to develop a personalized plan to maximize their chances of achieving financial security.
Later this month, Katie will be offering a workshop for individuals and families entitled: “Balancing Act: The 5 Most Critical Areas Of Your Financial Security”. This workshop will be held at The Wyndam Garden Hotel in Fitchburg (2969 Cahill Main) on Thursday, February 23rd, 2017 from 6:00pm-7:30pm. There is no charge for this workshop and a catered meal will be provided. Space is limited to only 30 participants and spots will fill quickly. Please register here.
According to Katie, there are 5 core issues facing most young families:
- Day to Day Budgeting: This includes costs such as groceries, phone bills, mortgage or rental expenses, car loans, credit card bills, etc.
- Tuition Costs (childcare, private schools, college): If paying for all or part of your children’s education is a priority, it is important to make educated decisions about your strategy. For example, will you utilize an education fund? Pay out of pocket as your child goes through school? What about daycare costs? Having a resource to discuss the pros and cons of each option is critical, and will allow you to prioritize the areas that matter to you
- Retirement Savings: Retirement may seem very far away at this point, but it is important to have a goal in mind and a plan as to how you will achieve it.
- Asset Protection: Liability lawsuits are a major risk to everyone’s financial security. Most people have never been through the process to determine how much liability coverage they need. By taking a few minutes to discuss assets and income, you’ll be in a position to make a quality decision about what liability coverage works for you. Not only can this protect your current assets but it can protect all your future earnings from wage garnishment.
- Income Protection: Katie mentioned that many parents she talks to have not taken steps to protect their most important asset – their ability to work. A loss of income can come from a premature death or other illness. It is important to have the conversations necessary now so you will be prepared if the unthinkable happens.
Talking with Katie was so reassuring – she understood the financial issues my family is facing and helped me realize that we are certainly not alone. I would highly recommend finding a resource that can help walk you and your family through the process of prioritizing your financial goals. A plan from COUNTRY Financial and Katie Myers can make a huge difference in your financial security.
If you’re interested in learning more about COUNTRY Financial and the assistance Katie can offer, please contact her at: 608-237-5992. There is never a charge for meeting with her!
Life insurance policies issued by COUNTRY Life Insurance Company® and COUNTRY Investors Life Assurance Company®, Bloomington, IL