3 Tips for Budgeting Around Insurance and Investments

As you look toward the future, setting up the right life insurance coverage while also saving and investing for retirement and other future plans are essential steps. For the most effective results from your planning efforts, both of these factors must receive adequate attention. 

Because they can impact your current budget significantly and because they are essential for the future, a closer look at how you can manage these items in your budget is in order.

Trim down Expenses

In order to pay for life insurance premiums on an adequate amount of coverage and in order to save and invest a suitable amount of money for the future, you may have enough cash available each month to contribute to these areas. 

A smart idea is to review your budget today to look for areas where you can cut back. For example, by updating and reviewing your budget carefully, you may determine that you should refinance your car loan or mortgage to set up more affordable monthly payments. In cash that is freed up in the process can be allocated toward insurance premiums and investments.

Assess Your Coverage Needs Periodically

While you understandably want to have enough life insurance coverage to provide for your loved ones in the event of your death, you also need to ensure that you are saving as much money for the future as possible. 




Assessing your coverage needs periodically may help you to avoid being over-insured. Remember that you can sell life insurance when needed. By doing so, you may use money that was previously allocated for insurance premium payments as retirement contributions instead.

Automate Payments and Contributions

Keeping up with insurance premium payments is critical. Failing to make payments can result in the cancellation of your coverage. Likewise, you may find it difficult to meet your financial goals for the future if you fail to make investment contributions regularly. 

With this in mind, it makes sense to set up automatic premium payments for all insurance policies. It is also a smart idea to make automatic retirement account contributions. Consider gradually increasing the amount of money that you contribute to your retirement account as needed.

Saving, investing and being properly insured are all essential for financial security in the future. Now is a great time to review your current coverage needs and financial goals. If you are falling behind on your goals, take steps to trim down your expenses so that you can properly prepare for the future.

What is a Life Settlement?

A life settlement is the sale of a life insurance policy. A life settlement is the selling of an existing life insurance policy to a third party for more than its cash surrender valuation but less than its net death benefit. In a life settlement deal, the policy's owner transfers ownership of the policy to the buyer in exchange for an immediate cash payment and, in some instances, a curtailed interest in the survivor benefit for the policy's beneficiaries. 

The purchaser of the policy pays all future premium payments and is given the survivor benefit upon the death of the insured (as soon as the policy matures).

What is a Viatical Settlement

A life settlement is dissimilar from a viatical settlement in that the individual insured on the policy has a longer life expectancy. In a viatical settlement, the life expectancy of the insured is 24 months or less.

Many American senior citizens-- generally those 70 years of age or older-- are finding that life insurance policies that once seemed necessary, have become unaffordable or no longer satisfy their needs.

Because of this, most seniors lapse or surrender their policy back to the insurance provider. Policies with more than $100 billion of face value are lapsed by seniors over age 65 each year, mostly because they are unaware an alternative might be offered-- including the sale of the policy.

Who Can Help?

It's usually best to consult with members of the Life Insurance Settlement Association (LISA). Member companies are certified in all areas of the life settlement market; however, to initiate the sales process of your policy you need to work with a licensed life settlement broker or specialist like Mason Finance.

Life settlement brokers provide an essential function of guiding a policy owner through the sales process, including assembling the required information to finish the sale. Additionally, they look for competitive offers for a policy and provide guidance concerning the deal that best meets the needs of the client.

Life settlement companies purchase policies either through a life settlement broker or straight from consumer individuals for either their own account or on behalf of an investment firm. State regulations require that all policies are offered through a licensed life settlement provider.

Law firms, medical underwriters and other intermediaries serve specific requirements associated with the settlement process. LISA members yearly attest to sticking to a Code of Ethics and Standards of Professional Conduct.

Click Here - How Selling Your Life Insurance Policy Works

Discovering A Growing Vietnam

If you have never traveled to Vietnam, it is hard to imagine it as anything but a war-torn state. Even though the war that was fought there is over four decades past, the thought of visiting there would probably not be your first choice for a vacation spot. However, Vietnam has changed.

Today, Vietnam is working towards becoming a developed country by growing the economy, along with the other countries in and around Southeast Asia. They are achieving this by doing so in a productive and steadfast manner. The hope of Vietnam is that this will be more than a possible reality by the year 2020.

The Continuing Progress to a World Once Forgotten

In addition to the Vietnamese peoples' aspirations of future progress and growth, they do know that acquiring the continuing appeal that will make more people want to visit will need to be their focus. In order to continue to expand into a developing country, they will need businesses to come in and travelers to stay and spend money.

It is true that a lot of us may hesitate to visit a certain part of the world if we feel that the exchange of money will be difficult to understand. In Vietnam, the currency exchange is important when establishing their goal of becoming developed. 




When or if you decide to take a trip to Vietnam, you will be expected to pay in Vietnamese Dong. The dong has been the currency in Vietnam since 1978 and is thought of as an exotic currency, but is one of the currencies of this category with the greatest future potential. To understand it you will have to know the exchange rate between the dong (VND) and the dollar (USD). 

Here is a list that could help:

• ₫ 20000 (VND) is equal to $ 0.86 (USD)
• ₫ 800000 (VND) is equal to$ 34.44 (USD)
• ₫ 4000000 (VND) is equal to $ 172 (USD)
• ₫ 16000000 (VND) is equal to $ 689 (USD)
• ₫ 80000000 (VND) is equal to $ 3444 (USD)
• ₫ 160000000 (VND) is equal to $ 6887 (USD)

It could be that you are a business owner that would like to expand your business in places around the globe that are in this type of circumstance. By investing in the growth of Vietnam's industry, you could help yourself and the need of this developing country.

As the growth of Vietnam has reached great goals since 1986, it is, indeed, now moving more swiftly to greater expansion in business endeavors and in travel and hospitality ventures. So, if you are thinking about a trip to this up and coming area of the world, let's talk a little about the things to do and see while there.

The Town for Tourists is Hanoi

The most notable city to visit in Vietnam is Hanoi. There are plenty of historical places to see in this city, such as the very narrow streets of the Old Quarter. You will be surprised by all the extravagance of this city; fancy cuisine, shopping, and exciting nightlife.

Take a stroll to the Hoan Kiem Lake and stop to peek at the famous water puppet show, which is one of the oldest art forms of the Vietnamese people.

If you are into museums, the Ethnology Museum is also in the city of Hanoi. This museum displays old historical artifacts about Vietnam. You will learn many facts while marveling at the beautiful Vietnamese culture.

After a tour around town, you may want to spend one of your days relaxing by the water. Halong Bay is a perfect serenity spot. Landscaped with limestone islands and many coves to explore, you will, no doubt, have a day of captivating fun when visiting this bay. Swimming, diving, and kayaking are also offered on this excursion.

Book Your Trip to Vietnam and Be a Part of Progress

As you can tell, Vietnam has rapidly picked up their pace through the years and has put in an impressive effort to compete with the global world. Since Vietnam started in a poverty-ridden climate, it has been a slower process to catch up and be noticed. Even so, this spot on the map is expanding at a faster rate with no intentions of slowing down.

So, what do you say? Will you contribute to Vietnam's growth? Whether it be touring the great towns and bays or exploring business ventures, the people of Vietnam will welcome you.

4 Techniques for Financial Success That Will Surprise You

The secrets to financial success are not actually that secret. They can simply just be difficult to achieve. These four surprising techniques for financial success will put your finances on the right track.

Invest

Investing is a very practical skill and how most people with significant amounts of money got rich. Its sheer influence over financial success is what will surprise you. There are many different kinds of investments you will need to understand, including stocks, funds, bonds, and more. Know your risk tolerance. 

Remember that, in most cases, you don’t lose or gain any money until you actually withdraw investments and that values will change over time. To be successful at investing you will have to take the time and learn how it works to make the best possible decisions.

Save for Retirement Early

Many, many people neglect their retirement savings. Would it surprise you to learn that just about every age group has far too little in retirement savings? You will likely not be able to live on social security alone when you retire. 




Take advantage of any employer-sponsored retirement savings accounts from the moment you get your first job. You can also utilize investments, outlined above, to grow your retirement savings so you can enjoy your golden years while having enough money to live on.

Watch Your Credit

Your credit rating and score are essentially a history of your financial reliability. Credit checks are done in a large variety of circumstances, including by landlords, mortgage companies, insurance companies, and employers. 

Odd things such as closing accounts, not utilizing credit, credit reporting errors, and getting parking tickets can affect your credit score. If your credit is poor, there are ways you can improve it, including fast credit repair services, working hard, and budgeting well to get your finances back on track.

Budgeting

Perhaps the single best thing you can do to achieve financial success is to have a budget and stick to it. Doing so means you are less likely to overextend yourself by borrowing more than you can afford. 

It will help you set up good financial habits such as paying all bills on time and putting a little into savings each month. While budgeting is hardly a surprising financial tip, its effectiveness certainly is.

In most cases, financial success comes from using the money you do have wisely. These tips may not be revolutionary but they will surprise you in their effectiveness. Don’t make your financial situation more complicated than it needs to be. With a solid foundation of good practices, you can achieve financial success over the course of your life.

How to Spend Your Personal Injury Settlement

Getting injured is never an enjoyable experience. Not only do you have to deal with the pain and suffering that comes from it, but there is often a ton of paperwork involved. In many cases, when you’re injured, it’s the result of someone else’s negligence, and you can be compensated as a result. This offers a nice silver lining, making a bad situation somewhat better.

However, once you receive your personal injury settlement, you can’t just go out and spend it all in one night. There are better ways manage your personal finances and knowing the best strategy can make your life a lot simpler going forward. Here are a few tips to help you out.

Pay Off Fees and Bills

The first thing you’ll want to do is pay off any expenses that came from the injury. Often, this primarily means medical bills. Unless your insurance covered everything, you likely have some leftover medical bills that you need to pay off. This personal injury settlement is designed to erase that medical debt, so make sure you put it towards that.

In addition, to get this settlement, you likely hired a lawyer. Trying to get a personal injury settlement without a lawyer is practically impossible, so it’s a good thing you hired one. In fact, according to these Manhattan personal injury lawyers, “When it comes to serious injuries – and especially those that will require long-term medical care – you should not file a claim and represent yourself. In order to get the settlement that you deserve, you must enlist the help of an experienced personal injury attorney.” 




These lawyers aren’t free though, so you need to pay them. In most cases they will take their pay from your winnings, but just make sure you factor this in before you start spending your payment.

Think Long-Term

With your debts all paid, now it’s time to start thinking about how you’re going to spend the remainder of your money. Many people make the mistake of going out and spending all of the money over the course of a couple of weeks. You don’t want to do this. Instead, you want to think long-term and how you can best stretch this money out for as long as possible.

While it may seem fun to take an exotic vacation now, in 6 months when you’re still having trouble finding work because of your injury, you’ll be happier if you still have some of your settlement leftover. So, when you start planning out how you’re going to spend your money, think years, not weeks.

Learn About Investments

To really think long-term, you need to learn about investments. The best thing you can do with your settlement money is find a good investment for it, and let it grow over time. Some people choose to invest in real estate, while others choose to put their money into stocks and bonds. Both have their benefits and drawbacks, so you’ll have to weigh the pros and cons to decide which method is best for you. Remember that you’re planning for the long-term, so it’s okay if your investment doesn’t pay off next month.

Seek Additional Advice

If you’re already feeling overwhelmed with this decision, don’t stress. Knowing how to best spend your money is difficult, and with such a large sum from your settlement, you’re worried about messing it up. In situations like this, the best thing you can do is get some help. Talk to a fiduciary and find out the best way to spend your money. Professional financial managers have the experience and knowledge necessary to set you on the right path and ensure your money goes to the right places.

Treat Yourself, Within Reason

Finally, don’t think that getting this settlement is all about your future. You’ve been through a tough time, so it’s okay to treat yourself a little bit. Take your family out for a nice dinner or get that new comfortable mattress you’ve been after. You deserve something nice to make up for this bad experience, just don’t go overboard. Keep it within reason and focus on your long term goals instead.

If you can do all of this, you should have an easier time spending your personal injury settlement. Then, a few months from now, when this painful experience is behind you, you’ll be doing better than ever because you planned things out in advance. This will hopefully help to make the entire experience a little easier to handle, and your personal injury won’t be any more cumbersome than it needs to be.

Give A Gift That Pays Off For Years - A 529 College Saving Plan

Instead of showering your child or grandchild with worthless things this vacation or birthday, provide a present that has more long-term worth: a 529 college cost savings plan.

And while looking for a plan can be complicated and more complicated, a new research study on 529s from WhatIsA529Plan.com could make the choice process easier.

529 College Saving Plan

With a state-sponsored 529 account, revenues are exempt to federal taxes as long as the withdrawals are used for certified education costs, including tuition and innovation. Even sweeter, lots of states use tax reductions to locals on contributions to a plan.

Remember, you do not need to limit your shopping to your own state's specific plan, nor is there any requirement that your future university student go to good old State U. in order to reap a 529's tax advantages.

And, keep in mind, it's the owner, not the recipient, who manages the possessions in a 529. You can generally link your account to your 529 account so you can make regular money saving contributions, if you wish.

Picking a 529 College Savings Plan

There's certainly a lot to think of when picking a 529: Which ones are the very best and worst strategies? How do charges accumulate? What about the quality of the investment management group? Efficiency?

That's where a brand-new report from WhatIsA529Plan.com, shows the best mutual funds and best places to save.

They just recently released the most current rankings of 529 plans, an extensive analysis of 62 plans across the country that hold about 95 percent of the more than $300 billion in financial investment possessions.

WhatIsA529Plan.com ranked the plans on more than simply investment efficiency. It likewise examined charges, financial investment management, financial investment choices, oversight and whether strategies offer any unique benefits such as scholarships, grants and matching programs.




Based on those factors, WhatIsA529Plan.com tagged a plan with either a gold, silver, bronze, neutral or unfavorable score.

4 plans made gold scores this year: Illinois' Bright Start College Savings plan, Invest 529 in Virginia, Nevada's Vanguard 529 College Savings plan and the MY529/Utah Educational Savings Plan.

There were 9 silver-rated plans, and 18 bronze, while 26 made neutral evaluations, which implies those plans still hold some appeal due to the fact that of state tax breaks.

WhatIsA529Plan.com, which has produced the 529 rankings, likewise acknowledged two "most enhanced" plans for 2019: The Oregon College Savings Plan and Arizona's Ivy Invest Ed 529 plan.

On the flip side, the site handed out unfavorable rankings on 5 plans mainly because they haven't cut charges as strongly as their counterparts. The worst plans: College Save in North Dakota, 529 College Savings in New Jersey, the GIFT college savings plan in Arkansas and the TD Ameritrade 529 college savings plan in Nebraska.

"The 529 industry continues to make substantial fee cuts, with so much more competition in the 529 investment space we are about to see many more fees starting to come down," stated WhatIsA529Plan.com director.

If you're thinking about gifting a 529 account to a child or grandchild, consult the plan supervisors to see if they provide a card or certificate of ownership that you can cover.