Living Responsibly This Year

As of the first quarter of 2016, and according to an article published by Time magazine about retirement, 1 in 3 Americans have saved $0 dollars for retirement.  The difficulties of saving for retirement has plagued the nation by increasing health and car insurance premiums, mortgage payments, college increases and everything else in between. Back in 2013, more than 3 quarters of Americans were living paycheck to paycheck. In 2016, more than half of Americans have less than $1,000 dollars to their names according to a Forbes magazine article, and many people will have difficulty paying for a $400 dollar emergency.

There are many polls and articles about the reason Trump got elected the next president of the United States, and the reason may seem reasonable for those who voted for him; They believe he will make their lives better.

But many economists, analyst,and people that Do know economics believe the top 1% will be the only people that benefit from a Trump presidency.  If you are in the 1%, congratulations! But if you checked the links above and checked the Times’ article, and you are one of those Americans that are living from paycheck to paycheck, then you will have to wait and see if a Trump presidency is beneficial to you.

We, as individuals have to take care of our finances first, before we can take care of many other issues concerning our lives.  Regardless who is the president at the moment, our personal finances are our responsibility and have to take care of them responsibly.

There are many safety precautions we take with our children to live a safe and prosperous life, and here are the 3  insurances we must have to live a responsible life, and to protect our children in case of an accident.

  1. Homeowners Insurance —For many people, their home is their greatest asset.  If they have equity, if their home has gone up in value, or they have done a good job remodeling, chances are the home is their greatest asset.
  2. Disability and Life Insurance— Health insurance is and has been mandatory since 2014.  You must carry a minimum level of health insurance coverage or risk paying a tax penalty fee otherwise. Life insurance isa protection for your family in case something should happen to the main provider.
  3. Car Insurance —In many states in no longer possible to register your car without proof of insurance.  Having enough insurance to protect yourself and any passengers traveling with you at any time is the prudent thing to do.

Living responsibly means taking care of those frustrating issues that we would rather not.  Insurance to protect our assets and the health and well being of our family falls into that category of frustrating issues. Live well and responsibly. Take care of your family issues.