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Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5240
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
July/August 2024
S.O.S for Your Family Finances
Protecting yourself and your loved ones is really what having a financial strategy is all about. A haphazard approach to saving and investing can leave you short of your goals, so consider what you can do to improve your chances of success.
Create a Savings Routine
It’s easy to find excuses for not putting money in a savings or investment account. But setting aside even a small amount every month can help you build savings to help you reach your goals. With automatic deposits, the money comes out of your paycheck before you receive it, reducing the temptation to spend instead of save.Maintain an Emergency Fund
No matter what stage of life you’re in, having money set aside for unexpected expenses or a loss of income is essential. An emergency fund can prevent you from having to sell investments or dip into other savings in those situations. You’ll generally want to keep three-to-six months’ worth of expenses in an account you can easily access without penalty.Define Short- and Long-term Goals
You’re more likely to save if you have specific goals, so think about what you’ll need money for in the future. If owning a home is in your plans, having a substantial down payment and a good credit standing can start you on your way to home ownership. Formalizing a college savings plan can help move you to reach that goal. But your biggest challenge may be to accumulate enough savings to fund your retirement. Contributions to an employer’s 401(k) plan or a traditional individual retirement account (IRA) potentially grow tax free until you withdraw the money in retirement.Protect with Life Insurance
Life insurance can be an integral part of your financial strategy. Policy proceeds can help your family maintain its standard of living in the event of your death.*Your financial professional can help you and your family prepare for a more secure financial future.
*Applications for life insurance are subject to underwriting and require paid premiums for coverage. Accessing cash values may reduce the death benefit and policy values, trigger tax consequences, surrender fees, and charges, and may require additional premium payments to maintain the contract. Guarantees are based on the claims-paying ability of the issuer.
GE-6407076.1 (2/24) (Exp 2/26)
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Duly registered and licensed financial professionals offer securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN), offer investment advisory products and services through Equitable Advisors, LLC, an SEC-registered investment advisor, and offer annuity and insurance products through Equitable Network, LLC (Equitable Network Insurance Agency of Utah, LLC in UT; Equitable Network of Puerto Rico, Inc.). Equal Opportunity Employer - M/F/D/V. Equitable Advisors and its associates and affiliates do not provide tax, accounting, or legal advice or services.
R.I.C.H. Planning Group, LLC is not owned or operated by Equitable Advisors or Equitable Network. GE-6572038.1 (4/24)(Exp. 4/26)
CFP® and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by the Certified Financial Planner Board of Standards, Inc.
These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.
R.I.C.H. Planning Group, LLC and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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