Personal lines insurance refers to any kind of insurance that covers individuals against loss that results from death, injury, or loss of property. These insurance lines generally protect people and their families from losses they couldn’t afford to cover on their own. Personal lines insurance makes it possible to do things such as driving a car and owning a home without risking financial ruin. This is not the same as commercial lines insurance, which provides property and casualty coverage for businesses.

Personal lines insurance covers individuals against loss resulting from death, injury, or loss of property.

Personal lines insurance makes it possible to do things such as driving a car and owning a home without risking financial ruin.

Coverage generally depends on how much an individual is willing to pay in premiums.

In some situations, individuals may not be able to purchase insurance because they pose too great a risk to the insurance company.

Examples of personal lines insurance include life cover, funeral cover, homeowners insurance, disability insurance, car insurance etc.

Financial matters can be quite complicated. Tasks like buying and selling stocks, preparing for retirement and protecting your estate so you can pass it on to your children are all complex and often involved. Handling all of them on your own is enough to make your head spin.

A financial advisor can help you make sense of all of these tasks. Financial advisors can holistically examine your financial situation and help you craft a financial plan to ensure you make decisions that are in line with your larger financial goals.

Furthermore, financial advisors have the investment expertise to make shrewd decisions in order to grow your money. A financial advisor can help you to create an asset allocation that fits with your goals and adjust it as you get older or your goals change. At the same time, financial advisors can help you to protect your assets, which becomes especially important as you near retirement. With the help of a financial advisor, you can ensure you’re ready to retire when you want.

Saving is the act of putting away money for a future expense or need. When you choose to save money, you want to have the cash available relatively quickly, perhaps to use immediately. However, saving can be used for long-term goals as well, especially when you want to be sure you have the money at the right time in the future.

Savers typically deposit money in a low-risk bank account. Those looking to maximize their earnings should opt for the highest annual percentage yield (APY) savings account they can find (as long as they can meet the minimum balance requirements).

Investing is similar to saving in that you’re putting away money for the future, except you’re looking to achieve a higher return in exchange for taking on more risk. Typical investments include stocks, bonds, mutual funds and exchange-traded funds (ETFs). You’ll use a Financial Advisor to guide you and manage your investments.

If you’re looking to invest money, you should plan to keep your funds in the investment for at least five years. Investments can be very volatile over short periods of time, and you can lose money on them. So, it’s important that you only invest money that you won’t need immediately, especially within three to five years.

Retirement planning is the process of determining retirement income goals, and the actions and decisions necessary to achieve those goals. Retirement planning includes identifying sources of income, sizing up expenses, implementing a savings program, and managing assets and risk. Future cash flows are estimated to gauge whether the retirement income goal will be achieved.

Retirement planning is ideally a life-long process. You can start at any time, but it works best if you factor it into your financial planning from the beginning. That’s the best way to ensure a safe, secure—and fun—retirement. The fun part is why it makes sense to pay attention to the serious and perhaps boring part: planning how you’ll get there.

When you’re in your 20s, retirement seems so far off that it hardly feels real at all. In fact, it’s one of the most common excuses people make to justify not saving for retirement. If that describes you, think of these savings instead as wealth accumulation.

Anyone nearing retirement age will tell you the years slip by, and building a sizable nest egg becomes more difficult if you don’t start early. You’ll also probably acquire other expenses you may not have yet, such as a mortgage and a family.

You may not earn a lot of money as you begin your career, but there’s one thing you have more of than richer, older folks: time. With time on your side, saving for retirement becomes a much more pleasant—and exciting—prospect.

You’re probably still paying off your student loans, but even a small amount saved for retirement can make a huge difference in your future. We’ll walk through why your 20s are the perfect time to start saving for those post-work years.

KEY TAKEAWAYS
It’s easier to save for retirement when you’re young and may have fewer responsibilities.

You can map out your retirement plan, but if you don’t have the know-how, an investment advisor can help prioritize your goals.

Compound interest, which is the interest earned on your initial savings and the reinvested earnings is a great reason to start saving early.

The sooner you start saving for retirement, the better it will be down the road. But you may not be able to do it yourself. It will be necessary to hire a financial advisor to help you out—especially if you don’t have the know-how to navigate the process of retirement planning.

Make sure you set realistic expectations and goals, and make sure to have all the necessary information when you meet with an advisor or start mapping out a plan on your own.

Estate Planning is simply the process of making it clearly known how you want your estate to be handled after you pass or if you’re incapacitated and unable to handle things on your own. The most common Estate Planning definition is — “the process of making plans for the management and transfer of your estate after your death, using a Will, Trust, insurance policies and/or other devices. Estate Planning has been around for many years, but it’s becoming increasingly more and more common.

There are many parts of Estate Planning, but the first thing you must do is conduct a comprehensive review of your estate assets.

Estate Planning is important for many reasons. Perhaps the biggest benefit is if you don’t properly prepare for what should happen in the future while you’re sound and capable, you’ll have no say in how your estate is handled or what your loved ones receive when that time comes. Planning today ensures your tomorrow is exactly as you envision it. 

A properly prepared Estate Plan will lay out your wishes exactly, in the most tax-advantage manner, so you can trust there won’t be any questions, misunderstandings or misconceptions about what you want.