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The Weakest Link

Posted on April 15, 2015 by Comments are off

The Weakest Link

Early in the year is a good time to review your financial plans, or lack of same. Just a a chain is only as strong as it’s weakest link, so is your financial future only as strong as it’s weakest link. And the weakest link in many people’s finances is sometimes as basic as even the lack of having formed a financial plan at all. Learn some of the more important but often neglected areas that need evaluated and incorporated for truly developing a comprehensive financial plan.

Stay at Home Moms Need Life Insurance Too

Posted on February 18, 2015 by Comments are off

Stay At Home Mother

business insuranceStay-at-home parents know how fulfilling, yet challenging parenting can be. The stay-at-home mom or dad is the glue that holds the family together – cooking, cleaning, running errands, taxiing the kids and caring for them when they aren’t well. As much as you care for them, there is one area many stay–at-home moms and dads often overlook. They don’t realize the value of all the things they do and what it would cost for the spouse to replace those services if the stay-at-home parent were to pass away.

With daycare for just one child running about $18,000 a year, your services are very valuable. And if you were to pass away, how would your spouse pay for the cost of caring for your kids while he or she is at work? It’s hard to think about a painful topic like this, but it’s vital to the livelihood of your family should the worst happen.

A Caregiver’s Duties

Although it’s traditionally been the role of mom to do this job, more dads are taking care of the kids while mom works too. If you’re the stay-at-home parent, you don’t really work for free. You do these things because you love your kids and spouse – you don’t expect or maybe even want a paycheck for it. You don’t keep track of what it would cost to send the kids to summer camp instead of staying home with you acting as de facto camp director. But the reality is that your services would be costly to replace.

New Moms Need Life Insurance

In the first six weeks of life, it’s almost universal that the mother stays home with the child for obvious physical reasons. And nursing mothers often stay home as long as possible because of complications caused by being away from the baby for a workday. Maybe you plan to return to work, maybe you plan to stay with the child. Either way, your spouse will need your help to raise this child. And if you should pass away, that help will have to come in the form of financial assistance. Life insurance fills that need.

Calculating Your Worth

No one can put a price on a mother’s love, but you can figure out the value of what it would cost to replace the services you provide. The cost of daycare or a nanny and a housekeeper or assistant should all be considered:

Women tend to underestimate the financial value of the work they do at home while men tend to overvalue it, so take this into consideration while you make your calculation. Getting this right will be important to paying just the right premium for just the right life insurance coverage.

Unfortunately, families fail to see how valuable the services of a stay-at-home-parent are. As a result, most of them either buy too little life insurance, or don’t buy it at all. This leaves the rest of the family in a precarious position. For most families where one parent stays home to care for the children, term life insurance is the smartest choice. It offers the most affordable coverage when budgets are tight. Other options, such as whole life insurance can build cash value, leaving you something to borrow against when your child is ready to go to college. It’s important to discuss all your life insurance options with a knowledgeable agent before making a decision and we’re more than happy to help.

Protect Your Family with Life Insurance from Driscoll

Driscoll Insurance & Financial Services is a family owned and operated agency that offers a personal touch in helping you to prepare for the unexpected. We look at your individual needs and do our best to provide you with a comprehensive plan to help you balance risk and meet your life’s goals. At Driscoll, you’re just one email, phone call, or visit away from an expert who is ready to help. Call us at 412-833-1500, or contact us online for a free quote on life insurance and other ways of protecting those you love. 

Football Teams Have Coaching Staffs for a Reason

Posted on February 5, 2015 by Comments are off

Football Teams Have Coaching Staffs for a Reason

When I say assemble a team, for financial planning purposes, I am referring to a team of Professional Advisors. I mean hiring the Coaches, not the Players. Your dollars are the players, in this respect, and where and how the players are best utilized are where we need the help of a top coaching staff. The NFL teams right now are reshuffling their coaching staffs, and maybe it’s time you do too.

This is a perfect time to take a good look and see where you are really going right now. Is all of your hard work just being wasted running on a hamster wheel, or are you actually on path to methodically getting somewhere?

Commit & Assemble Your Financial & Legal Team

Posted on January 14, 2015 by Comments are off

Assemble Your Financial Team

 

You can go a lot further with the help of a carefully assembled team of professionals assisting and guiding you than trying to do it all on your own. This week’s message is to help get you started to commit and assemble a competent and experienced team willing to all work together in helping you reach your financial goals.

Structure your team with Health Professionals, Insurance Professionals including Life, Auto/Home, CPA’s, Attorneys, etc. Some firms, although very few, provide multiple services like our firm does. This allows us to handle many of these capacities in-house, which obviously can make things much easier and coordinated for you. But in any case, and no matter who you choose, take great care and choose each wisely.

Then get the rest of your team together, and let’s begin working on your future!

Happy New Year! Time To Measure Progress

Posted on January 14, 2015 by Comments are off

Happy_New_Year

 

Now is the perfect time to reflect on your life’s goals, and whether you are on track or off course to achieving your financial goals and dreams. This is also the perfect time to measure your progress, and discover if and what changes or alterations are needed.

Engaging the services of a Certified Financial Planner has never been more important. Many of you are struggling toward meeting these and other financial needs which you have either not been able to accomplish on your own, or with who you have been working with up till now.

Take this time of the New Year 2015 Weekend to reevaluate all your financial goals, and give us a call. Have a Happy New Year!

Jack Driscoll Discusses how to maximize getting money into tax free accounts before your retirement

Posted on December 23, 2014 by Comments are off

Group Savings

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