Guaranty Association Benefits Company

You want to develop your financial brain children? Use this game - Council

I wanted to remind everyone of a single financial education tool but very effective :. Monopoly

There are few better lessons in life that ON- job training. Monopoly is a great tool for simulating financial lessons. I recommend that you expected a rainy day to get the popular board game, but that day, you will find tons of excitement for children of all ages.

The inherent financial lessons in the game include:

Math and counting: in our house, there seems to be a lot of competition for knowledge happens to be the banker. A child's change that makes the stone really fly their math skills. And for younger players, they get practice counting the spaces after each roll

Budgeting :. As a child develops strategies their way through the game, they eventually learn that buying all the property they land on is usually a quick way to nowhere.

If a player spends his time buying the railways and construction on properties such as the Baltic and Mediterranean Avenues, they usually will run out of vital funds later in the game.

There is no doubt that the Monopoly game can pay big dividends in the development of the financial brain of your child.

also delayed gratification concepts are taught when they are waiting for "Go Go" and collect $ 0 before making that buying a house on property they own, which becomes a strategy they will take with them for life

Investing :. investment in the property. and strengthening of these properties

risk / reward: Sometimes it makes sense for a player to stretch financially in the short term to reap long-term gains on your investments. Landing on Chance or Community Chest adds to the unknown

Chance :. Cash windfall to land on "Free Parking" is a common addition to the rules that some players choose to add. Many large strategy was spoiled with this huge pile of money in the middle. There always seems to be that lucky person who lands the perfect roll just before landing on Illinois Avenue of opposition with two hotels on it.

Guess what? This is real life. He called the lottery and legacy and we're all going to meet someone in life who has been blessed with such luck found wealth they landed on

Bankruptcy "free parking" .: a great lesson is learned when a defenseless player is short of cash and must start selling properties to the bank just to hang. We have all heard countless stories of people who had to go through this exercise after the Wall Street collapse in 08 just to be able to make things meet.

There is no doubt that the Monopoly game can pay big dividends in the development of the financial brain of your child.

you can even make it more interesting if you go on vacation somewhere like most destinations have their own version of Monopoly, which will serve as bait amazing historical monuments of your holiday destination before takeoff travel. You will probably find your family doing Monopoly references throughout the trip, too.

8 Financial Must-Dos for honeymooners -

My wife and I went tandem bungee jumping together on our honeymoon. There is something about an adrenaline rush like that makes you think about the bigger picture. And as a financial planner for honeymooners, it made me think about planning, we had in place and have a conversation about what our future goals alike.

First, just talking is not the greatest. Open communication between you and your new spouse about your joint financial goals is one of the most important things you can do so that you can avoid financial surprises down the road. Once you know where you stand and where you want to go, you can take the appropriate steps to get there. Here's what we learned.

1. Set up a joint checking account: Even if you plan to keep your finances somewhat apart, it is very useful to have a joint checking account you both access to

2 .. Establish a budget: Make sure you are on the same page about how much you save and expenses on a monthly basis. You will also want to assess the debt you each and implement the plan in your monthly budget to first pay off the debt at higher interest rates.

3. Coordinate benefits at work: FIG join if medical or dental plan of the joint offer better coverage and / or price than what you currently have. Also make sure you are both taking advantage of the company match in your retirement plans.

4. Re-evaluate your overall investment allocation: Now that you have common goals, you must ensure that your investments are not opposing one another. You want to make sure you do not take unnecessary risk by being too overweight to some area.

5. Protection Plans: Someone else now relies on you and your income. Make sure you have the appropriate amount of disability insurance and life insurance in place, so if something terrible does happen, it will not be financially ruin another.

6. Beneficiaries and titling of accounts: Most of your accounts and pension insurance will never go through a will if you die. This is the same with joint accounts. They go directly to the designated beneficiary or the holder of a joint account. Because of this, make sure they are all set up the way you want.

7. Name change: If you change your name, make sure that you update and inform the IRS, social security, credit card companies, DMV , banks, etc.

8. Emergency Fund: Make sure you have enough money readily available in case of emergency. This might be three months to one year of your salary, depending on the degree of security your work and how volatile your income is.

There can be a daunting task to coordinate finances with your new spouse, but it is very important. Once completed, all these steps will help you move smoothly forward financially with your new spouse.

This article is intended only for information purposes and should not be construed as a recommendation to buy or sell securities or securities product. Matt Hoesly is an investment advisor with 1 resources, and a registered representative of Ceros Financial Services, Inc., member FINRA / SIPC. (Resource 1 and Ceros are not affiliated entities). The securities offered by Ceros Financial Services, (not affiliated with Resource 1, Inc.). 1445 Research Boulevard, Suite 530, Rockville, MD 20850. (866) 842-3356 Member FINRA / SIPC

6 Money Mistakes 20-somethings Make-and what to do about them -

Life as a young adult can be no wrinkles, but it is not always pretty.

When asked Helaine Olen, personal finance columnist at Slate.com and author of The card Index , which it considers as one of the greatest obstacles to the well 20-Somethings to be ready financial students came to the front.

that many students today are forced to finance higher education through debt means they start adulthood waaaay in the red. But Olen said 20-Somethings can take heart in one thing: "People in their 20s do not make mistakes that are not always made by the elderly that they"

The! thing to remember is that time is on your side. that means you're young enough to recover from even the most spectacular financial failures. on the other hand, makes this good, informed decisions now can affect huge on your lifestyle in the coming decades

Be smart and avoid these six common missteps :.

1. Do not take the bull by the horns. "When you're just starting, you need to make a lot of decisions," says financial adviser Woody Derricks Partnership Wealth Management in Baltimore. "My grandmother said," Life can be frustrating when you're young, because you make the least amount of money and need the greatest amount of things. "Keep these two principles in mind you embrace the challenge:

• Protect your cash flow. Do not run up new debt, advises Derricks, and includes free loans on home furniture.
• Understanding the balance. It may be tight, but make sure to save for goals such as short-term capital needs and long-term emergency such as retirement, as well as maintaining adequate insurance protection.

2. Focusing too much on the repayment of student loans. Likes debt, but many financial advisers say there are actually other more important things at this point see "Understanding the balance" above.

"The worst thing people can do is to pay off their student loans and then in a situation where they have to run their 20% interest credit cards," says Derricks. In contrast, student loan debt is generally low interest and often tax deductible

Suffering from a disability that prevents you from not work ... can be financially catastrophic.

3. Do not have disability insurance. Suffering from a disability that prevents you from not work is much more likely to premature death, and it can be financially catastrophic, contributing to 62% of all personal bankruptcies, according to a study by the American Journal of Medicine. Yet only a third of Americans have a disability insurance, according to the insurance Barometer study 2016 by Life Happens and LIMRA. This type of insurance you pays part of your salary if you are sick or injured and unable to work.

If you think Social Security will intervene to help, think again. Claims take at least a year to treat, most requests are denied and the average payment if you qualify? Just $ 90 per month for less than 40 years, according to Social Security Administration.

Fortunately, "young people can often get the majority of disability insurance they need through work at very reasonable rates," said Derricks. In addition, private disability insurance coverage can fill the gaps, and you follow from job to job.

He cites the example of a young client whose work involved manual labor. "She became pregnant, and provided coverage throughout her pregnancy and the period originally thereafter. For her, it was really perfect for a short-term coverage."

4. not having enough life insurance. Regarding the group life insurance, most people need more than they can get through work, and they often qualify for better rates on their own. In fact, individual coverage costs much less than most people imagine, and it stays with you, regardless of a change of employment.

Even if you do not own a home or are not yet a burden, think of someone who would be financially affected by your death, especially any co-signer of a loan, which would become responsible for the refund. (Here are five reasons you might consider if you're single.)

Second, consider that life insurance will probably never be cheaper for you than it is today, and that insurability is ever given. Lock protection now and your future self may thank you one day.

5. Not taking advantage of your employer's benefits If your employer matches 401 (k) contributions, do not leave money on the table .. Contribute to least until the adaptation limit

and those drills survey deduction accounts payroll? Use them to set aside thousands of dollars each year for uncovered health expenses childcare, commuter parking and mass transit tax free ,. Will 2017 be your year of LASIK?

6. Succumbing to the wedding mania. "You want your wedding to be memorable," said Derricks, "but I went to a lot of things that were memorable and quite amazing and the couple did not overspend." Instead, think of your wedding day that you and your beloved first chance to avoid a major money mistake set .

Off the Racetrack With Danica Patrick -

may know driver professional race car Danica Patrick for his revolutionary career on the circuit. But this September, it will also be front and center promoting the power of life insurance as a spokesman of the Life Insurance Awareness Month, coordinated by Life Happens.

Here, it opens on the life and life insurance.

You are an accomplished professional and fierce race, but everyone has to start somewhere. Do you remember your first race?

Danica Patrick: There is actually quite unforgettable. My sister and I started racing Go Karts when I was 10 and she was 8. The first time we released them, he was in the large parking lot behind the company of my parents. We set up boxes in a circle so we can do laps. But once there my brake pedal fell to the ground, and I did not know what to do. Instead of turning or rotating, I went straight, and at the last minute veered to miss a trailer built and crashed into a concrete wall. I twisted the Go Kart, flew, got bruised leg the whole affair. It does not scare me, but by all means my first racing experience is not going well.

When did you first get life insurance, or at least consider it?

Danica Patrick: It was an easy decision for me to get a life insurance policy at a young age. I participate in a risky sport where I drive 0 miles an hour with concrete walls around me. In addition, I had the chance to have a successful career from the beginning, and I want my family to be looked after if anything should happen to me, especially since my parents sacrificed so much for me to get where I am.

But go a little further, both my parents have lost their father when they were teenagers, and neither had life insurance. My mother was one of five children, and remembers that his mother had to sell most of the farm later. When my sister and I came along, my parents had life insurance. They wanted to be safe, based on their experience, that we would be taken care of if anything happened to them. It certainly stuck with me.

You are only as good as your goals and aspirations. So shoot for the stars and land on the moon! That's my plan

LH :. People might think, "Well, I'll never run at Talladega. I do not need life insurance"

Danica Patrick :. Certainly my situation is unique. most people do not drive racecars for a living, so I think it is probably easier for them to put off getting life insurance. think you have the time. you're not expecting anything to happen, but it can. a good friend of mine in the race has lost its chief car for a heart attack at the age of 34. C is crazy. bad things can happen. That's just life. and that is why life insurance is just an easy and intelligent way to eliminate the risk of your life.

I think also there is a misconception that only the main breadwinner needs life insurance. the other partner may be doing the cooking and cleaning, running the kids around and all kinds of things that help family works. If anything happens to them, those things remain to be done, and it might not be enough time in the day to the other half to take care of these things or the money to hire someone to do it. It therefore makes sense for the two to have a life insurance

LH:.? What is it like being a woman in a sport dominated by men

Danica Patrick: it is difficult to answer because it's all I've ever been, but what does that mean? This means that anything is possible. This means that you are only as good as your goals and aspirations. So shoot for the stars and land on the moon! That's my plan

LH :. We all want to know what you're like behind the wheel when you're just driving down the road.

Danica Patrick: Well, I have to admit I'm pretty aggressive on the regular route. I was told that I have to take this aggression from the road to the most often racecourse. So I practice it! It will pay much better in my work

LH :. Any advice separation

[1945003?] Danica Patrick: regarding life insurance, think this way: If you were to pass, it will be terrible for those who remain. There are people who will cry and suffer, perhaps both financially, and all you can do to make this transition as easy as possible is the kind thing to do, the selfless thing to do.

Life insurance is now mandatory! -

In the recent article "The Case for Demanding life insurance," Brian Fechtel outlines some points that should make you think. And while the concept of legally mandating the life insurance property can be exaggerated, I ask readers to think about these questions:

1. What if the new parents were required to show proof of insurance before life to take their newborns from the hospital (as they must have a car seat). If parents must present proof of "fiscal responsibility"?
2. What if the plaintiffs death suit suspects were allowed to collect from a guilty party for an amount equal to the life insurance of the deceased had his / her life other words: a third party should not have to pay your heirs more than you think your life is worth.
3. Do you wear excessive amounts of liability insurance in case you get sued? If you protect yourself by liability insurance, protect your family with a similar amount of life insurance?
4. Why the families of the victims of 9/11 have their "payment" reduced the amount of life insurance they? Fact: Those who had taken steps to protect their families actually received less than those who did nothing.

Fechtel wrote "when there is no hope that these ideas would be implemented in the near future, would not have public debates on these helpful ideas?" I do not like the idea of ​​the government mandating anything, so I'm not in favor of this idea, however, recent statistics show that LIMRA ownership of individual life insurance fell to 50-year low and that four out of 10 households with children would have trouble paying bills immediately if the family mainstay should die. This leaves many people in very vulnerable situations financially.

Although it is currently not mandatory for you to purchase a life insurance policy, it is mandatory for you to take responsibility for yourself and your loved ones. Start by determining how much life insurance you may need with this calculator. And make sure you follow through and purchase protection. Contact your insurance agent, or if you do not, you can click here to find one in your area.

Realizing the full scope of your value of human life -

To determine the amount of life insurance you need, an important consideration to keep in mind is that is called your "value of human life." This is essentially your financial value to those you love. While you can never, of course, put a financial number on your true value to your family, you can calculate what your future financial contributions to your family will be.

Knowing your value of human life is important when buying life insurance because you want to have a clear idea of ​​what will be needed your family when you are gone and, as such, are not able to contribute financially to the household. the calculation is based on a number of factors, including your occupation, income, benefits you get from your employer, etc. (for details on the data used, visit value Calculator human life of the lIFE Foundation.)

age is also a factor critical in determining the value of your human life. Compare two scenarios. A 45-year-old man seeking coverage would have its income multiplied by 14-20 times in the determination of an amount of policy, while a 70 year old man would only income multiplied by 4-10. You see, life insurance is to essentially replace your support for a certain period of time, to take care of their relatives in need after your death.

And above all, you want to avoid being underinsured or your family may still be struggling financially after your death, even if you have a life insurance policy.

Neil Jesani CEO BeamaLife is a certified financial planner and was announced by consumers, "the American Research Council as one of the" Top Financial Planners of America. " He blogs about life insurance and other financial topics Personal Finance Principles.

How romantic (or unromantic) are you? -

So you think you're romantic, huh? Are not we all? But have you ever tested for how romantic (or unromantic) are you? Probably not. But with Valentine's Day just a few days, it is logical, is it, to find not what your score might be. Are You a Heartthrob? Suave? Dreamer? Or maybe Clueless? LIFE has developed this quiz Romance-O-Meter fun for you to discover. Try it now.

You may be wondering, though, what love and romance has to do with the word insurance blog? Well, when you think about life insurance, there is really only one main reason you buy it because you love someone. You want your loved ones know you care as you have made plans to ensure their well-being even after you are gone.

Valentine's Day is the perfect time to reflect on the unconventional life insurance gift. Did you know that 83 percent of Americans believe that buying life insurance is a way to express their love? This means that the chances are high your gift will be appreciated.

I do not know how to deliver the present of the life insurance? Then look at the couple in the video You Do It for Love.

Good luck on the quiz and you want a lot of love for Valentine's Day.