Family Financial Management

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By focusing your goals and objectives, you can take steps to help preserve the financial security of your family, send your children to college, prepare for a comfortable retirement, and more. For simplicity, family financial management is often divided into five key areas:

  • Risk Management: Many circumstances can impact family finances, such as accidents, medical treatment, disability and even death. Adequate insurance coverage can protect your family from the financial hardship of unexpected events.
  • Cash Management: Managing your finances and controlling spending can free up extra dollars to save for the future. This money can help finance college tuition, retirement, new homes and more.
  • Investment Strategies: By determining your overall investment objectives, you can find the right investments to help you reach your goals. This process involves examining personal considerations and the pros and cons of different investments.
  • Retirement Planning: Inflation and longer life expectancies will make retirement increasingly expensive. Planning a course of action as soon as possible and following it strictly can help you become prepared financially.
  • Estate Planning: It's not just for seniors. It should be a part of every family's financial management program. Taking action now can help maximize what you pass on to your heirs. Wills, trusts, life insurance and other options can help protect your family and your estate.

By developing a long-term strategy, you'll help build a brighter future for your family. To inquire about these and other saving, investing and insurance questions, e-mail a Provident Financial Consultant* or call (650) 508-7222 or (800) 656-4096. Provident offers a full range of Investment and Retirement Planning services.