Securing Your Legacy: The Importance of Estate Planning and Life Insurance
/ By Charlene Echerivel / Dave Ramsey • Life Insurance/ • • / 0 Comments

Securing Your Legacy: Estate Planning and Life Insurance

Securing Your Legacy: The Importance of Estate Planning and Life Insurance

A comprehensive financial strategy includes estate planning and life insurance. Yet many individuals overlook their importance in securing their legacy and providing for their loved ones. At Intelli Choice Insurance, we believe that understanding the significance of estate planning and life insurance is essential for protecting your assets and ensuring your wishes are fulfilled.

Estate planning is the process of arranging for the management and distribution of your assets after your death. A well-crafted estate plan can help minimize taxes, avoid probate, and provide for the efficient transfer of your wealth to your heirs. It typically involves drafting essential documents such as wills, trusts, powers of attorney, and advance healthcare directives to ensure that your wishes are honored and your assets are distributed according to your wishes.

Life insurance plays a crucial role in estate planning by providing financial protection for your loved ones in the event of your death. Life insurance proceeds can help cover funeral expenses, outstanding debts, estate taxes, and other financial obligations, ensuring that your beneficiaries are provided for and can maintain their standard of living after you're gone. Moreover, life insurance can serve as a valuable estate planning tool by providing liquidity to your estate. This liquidity can help cover immediate expenses and allow your heirs to access their inheritance without having to sell off assets at a disadvantageous time.

What life insurance pays for

By incorporating life insurance into your estate plan, you can maximize the value of your estate, minimize tax liabilities, and provide financial security for your loved ones. Our experienced agents can help you assess your life insurance needs, explore coverage options, and integrate life insurance into your overall estate planning strategy.

Don't wait until it's too late to secure your legacy and protect your loved ones. Contact Intelli Choice Insurance today to learn more about the importance of estate planning and life insurance and how we can help you build a solid financial foundation for the future.

Four powerful tips to attain financial security
/ By Charlene Echerivel / Dave Ramsey • General/ 0 Comments

4 Tips To Attain Financial Security

Four powerful tips to attain financial security

They say money doesn't grow on trees. While the part about trees is true, your money can — and will indeed grow — if you are smart with it. Learning how to secure your financial future is one of the most important things in life.

Whether you are living paycheck-to-paycheck or having trouble making ends meet, financial insecurity can be a serious source of stress. Regardless of your current circumstances, the tips below will help you take a few extra steps toward attaining financial security.

Budget Your Expenses

If you want financial security, your paycheck is the best place to start. Start by creating a budget so that you can plan to spend your money more productively. Reassess your income, expenses, and financial obligations and make adjustments where possible.

how to create a budget

Plan for Contingencies

With proper budgeting, you'll find yourself consistently spending less than usual every month. Use the surplus to create a proactive contingency plan. Planning for contingencies may include purchasing insurance policies that cover losses arising from adverse events, including:

♦ Healthcare coverage
♦ Life insurance
♦ Accidental death & disability coverage

Adequate insurance coverage will be your safety net when emergencies happen — and they will happen. Learn more on how to protect your financial future at Intelli Choice Insurance.

Attack Your Debt Relentlessly

Debt keeps you trapped in a cycle that makes it impossible to attain financial security. All those payments every month rob your present and steal from your future. Find an effective strategy, such as the snowball method, to attack your debt.

financial insecurity

Get Better with Money at Financial Peace University

The Financial Peace University is a comprehensive financial education program to improve personal financial skills. It contains lessons from Dave Ramsey and a few other experts, with all the content available online.

Financial security is essential because it reduces financial stress and helps you feel in control of your future. It'll take a lot of discipline and dedication, but these tips can help secure your family's financial future.

Wealth Planning_ Where to Start
/ By Charlene Echerivel / Dave Ramsey • Life Insurance • Personal Insurance/ / 0 Comments

Wealth Planning

Wealth Planning_ Where to Start

Wealth planning is a crucial aspect of securing your financial future. It involves taking a proactive approach to managing your finances to build and protect your wealth. By developing a comprehensive wealth plan, you can achieve your financial goals and protect your assets for future generations.

Set Clear, Realistic Goals

The first step in wealth planning is to set clear and realistic financial goals. These goals can include anything from saving for retirement to purchasing a home or starting a business. Once you have established your goals, it is important to create a plan to achieve them. This plan should include a detailed budget, a savings and investment strategy, and an estate plan.

realistic financial goals

Stick to a Budget

A budget is essential to wealth planning as it helps you understand your current financial situation and identify areas where you can cut back on spending. A savings and investment strategy is equally important as it helps you grow your wealth over time. This strategy should take into account your risk tolerance, time horizon, and financial goals. An estate plan is also crucial as it ensures that your assets are distributed according to your wishes and that your loved ones are protected in the event of your death.

Update Your Plans with Life Changes

In addition to creating a wealth plan, it is important to regularly review and update it as your financial situation changes. Life events such as marriage, the birth of a child, or a career change can have a significant impact on your finances. By staying up-to-date with your wealth plan, you can adjust your strategy to ensure that you are on track to achieving your goals.

Stay Up-to-Date

Work with a Financial Advisor

Working with a financial advisor can be incredibly beneficial when it comes to wealth planning. An advisor can provide guidance and support as you navigate the complexities of managing your finances. They can also help you identify potential risks and develop strategies to mitigate them.

In conclusion, wealth planning is an essential part of securing your financial future. Call one of our agents today to find out how your insurance coverage can help - or hurt - your future plans.

Saving for Retirement
/ By Charlene Echerivel / Dave Ramsey • Life Insurance/ • / 0 Comments

Saving for Retirement

Saving for Retirement

Saving for retirement is one of the most important financial goals that everyone should strive for. Retirement may seem far away, but the sooner you start saving, the more time your money has to grow. Here are some tips to help you achieve your retirement goals.

Start Early

Start as early as possible: The earlier you start saving for retirement, the better. Even if you can only afford to put away a small amount each month, it will still make a significant difference over time. The power of compounding interest means that your money will grow exponentially over the years.

Start Saving Money Early

Employer's Retirement Plans

Contribute to your employer's retirement plan: Many employers offer retirement plans such as 401(k) or 403(b). These plans allow you to contribute a percentage of your salary into a tax-deferred account, which means you won't pay taxes on that money until you withdraw it in retirement. Your employer may also offer a matching contribution, which means they will contribute a certain amount to your account if you contribute a certain percentage of your salary.

Individual Retirement Accounts

Consider opening an individual retirement account (IRA): An IRA is a tax-advantaged account that allows you to save for retirement. There are two types of IRAs: traditional and Roth. A traditional IRA allows you to deduct your contributions from your taxes, and you won't pay taxes on the money until you withdraw it in retirement. A Roth IRA doesn't offer a tax deduction on contributions, but you won't pay taxes on the money when you withdraw it in retirement.

individual retirement account

Live Below Your Means

Live below your means: The less money you spend, the more you can save. Look for ways to cut back on your expenses and live below your means. This will allow you to save more money for retirement and help you achieve your goals sooner. Dave Ramsey has a lot of practical suggestions on how to do this.

Get Insured

Explore your life insurance options early as your eligibility may change as you age. The right life insurance coverage will help with unexpected expenses that would otherwise break a fixed income budget.

Investing

Invest wisely: Investing your retirement savings wisely is crucial. You want to make sure that your money is growing at a rate that will allow you to achieve your retirement goals. Consider working with a financial advisor to develop an investment strategy that works for you.

Invest wisely

 

In conclusion, saving for retirement is a critical financial goal that requires planning and discipline. By starting early, contributing to employer plans, opening an IRA, living below your means, and investing wisely, you can build a retirement nest egg that will support you in your golden years.

dave ramsey insurance
/ By Charlene Echerivel / Dave Ramsey • General/ • • • / 0 Comments

What does it mean to be a Ramsey Trusted Provider?

dave ramsey insurance

Intelli Choice is an Endorsed Local Provider (ELP) in the Dave Ramsey Provider network.

Dave Ramsey is probably best known for his series, Financial Peace University.  If you haven’t heard of him, he is a best-selling author, financial guru, and the host of The Ramsey Show.  The Ramsey Solutions company defines its success by the number of lives changed and has a goal of helping ordinary people get out of debt and get control of their lives. Its mission is to provide “biblically based, commonsense education and empowerment that gives HOPE to everyone in every walk of life.”

On The Ramsey Show, callers frequently discuss some of the tougher financial issues in life.  Examples might include complicated real estate transactions, investing in life insurance, or creating a will.  Callers explain how, as they went out into the world to accomplish these tasks, they weren’t sure who they could turn to that they could trust. Because of this dilemma, a natural outgrowth of the show has been the Endorsed Local Providers program.  

Dave Ramsey has a mission to serve, but that doesn’t mean your neighbor with the side hustle has the same goal.

The ELP program is a network of professionals who have been vetted to be sure they know their stuff and share the Ramsey values. Endorsed Local Providers fall under the “Ramsey Trusted” umbrella and must meet three distinct criteria.  

First, they must go through a rigorous Ramsey vetting process. 

Second, they must participate in continuous Ramsey coaching. 

Third, they are evaluated by customers through a Ramsey Trusted scoring process based on service.  

It’s about consistency.  This means that the Ramsey Trusted name stands behind them as a provider you can trust to provide you with consistent results, service, and who adheres to the Ramsey values system.  The ELP program has over 20 years of development behind it.  If a company is on the list, it wasn’t by accident.

Intelli Choice has the distinction of being an Endorsed Local Provider.  When it comes time to find the best insurance rates and coverage for your circumstances, you can trust us to be focused on serving your needs first.  We are invested in the Ramsey mission, which means we are invested in you.   If you think we can serve you, give us a call.