Insurance for Millennials: What You Should Know

Financial education can transform your life to wandering through your bank account to empower and make intentional choices with your resources. Despite the crucial importance of financial education, we never learned it in school and often stumbled across it after deciding there has to be a better way.

When it comes to finances, budgeting, and savings, it’s tempting to cut corners to get ahead. That may work if you’re hoping to trade your car for a bike or buy a fixer-upper condo with a long-term strategy to restore as you go. But when it comes to insurance, you could put those around you at financial risk without a plan in place. A recent stat shows that more than 55% of millennials don’t have the insurance they need.

The insurance industry gives your family more control and choices over their future if anything happens to you. An insurance policy can cover the cost of your entire mortgage, send the kids to college, and help your family weather the tragedy. Without it, your family could face debt and some difficult decisions. You also don’t want to wait until faced with a health crisis. Life insurance can be difficult and expensive to secure if you try to purchase it after discovering you have a disease.

Start with a budget and slowly add in these financial strategies to lay a foundation for success. Want to learn about more retirement and investment strategies? Email us today at: