March Refuge Refresh - Financial Spring Cleaning

(You can access the actual email with formatting and images HERE).

Hi Refuge friends,

I hope you’re doing great as we enter into Spring! As the weather warms up, sometimes it’s good to do some spring cleaning. I encourage you to consider some financial spring cleaning as well. Have you reviewed your budget and long-term financial strategy recently? Are there things you’ve been wanting to organize or implement that got pushed aside by the busyness of life? If you’re married, when was the last time you sat down together to talk through your goals and dreams and how you can get there? It’s good to think about every so often because life has a way of flying by, leaving a trail of good intentions in its wake.

Have a great rest of the week and, as always, reach out to me if there’s anything I can help with.

-Tim

SMILE

Have you every wondered why it’s a “penny for your thoughts” but when you want to say something you have to “put your two cents in”? That math doesn’t add up, somebody out there is making a penny! 😂

LEARN

Financial Vocab

ANNUITY: A financial product offered by insurance companies that offers individuals a stream of income, usually for the remainder of the annuitant's life. Annuities are often purchased to help individuals address the risk of outliving their retirement savings.

Variable annuities are market-based. Fixed annuities are safe but offer limited growth potential with a fixed rate. Fixed index annuities can be a great option for protecting, growing and stretching retirement savings.

Financial Happiness

A survey from Empower Financial found that the more people already earned, the more they felt they needed to make in order to be happy. It’s very interesting if you think about it. (Image HERE).

(You can read the article from Axios HERE).

What’s the Difference?

Term Life Insurance

• usually cheaper monthly premium with a larger death benefit for the family

• lasts for only a period of time (term)—usually between 10-30 years

• builds no cash value over time

• similar concept to “renting” a house

• good for young families if coordinated with a long-term investment strategy

Whole Life Insurance

• usually higher monthly premium and often starts with a smaller death benefit for the family

• lasts for the rest of your life

• builds cash value over time that can usually be strategically accessed

• similar concept to “owning” a house and building equity

• quality/benefits depend on client situation and cash-value building potential

PONDER

“Tell me and I forget. Teach me and I remember. Involve me and I learn.”

— Benjamin Franklin

Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, an offer to buy or sell any security, insurance product or any other financial product.

For Medicare: Currently, we represent 12 organizations which offer 90 products in the Southern Colorado area. You can always contact Medicare.gov, 1‑800‑MEDICARE, or your local State Health Insurance Program for help with plan choices.

Read our full disclosures HERE.

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