How to protect your family financially

happy evening

It’s as simple as this: Increase your retirement savings.

Experts recommend that saving at least 10% of your income to fund your retirement will set you up financially to ensure your family is protected. What doesnt get enough attention, however, is the value your retirement savings have toward your life insurance.

The concept is simple enough: the best defence is a good offense. The more you put into your savings, the less life insurance you need to buy. This also means that the money is serving a double duty – saving you on life insurance and setting you up for the future.

Your 401K and other retirement accounts are a super effective way to protect your family for two simple reasons.

  1. Creditors cant touch it. Typically, when a person dies, their estate will settle up their debts and pay out any remaining assets to the person’s heirs. The bonus with retirement accounts is that, just like life insurance policy – by law this money goes straight to the heirs no matter what debts were left behind.
  2. Your money grows faster. Tax benefits and employer match help these accounts grow a lot faster than regular savings and investment accounts, so your ‘self-insurance’ grows faster.

Don’t forget – the best defense is a good offense. So if you want to take action today to protect your family, increase the amount you are setting aside for your retirement. It really is that simple!

We bet you’ve never heard life insurance agents talk like this before – right!? Well, it’s because we are different. Come see why here!

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