Insights
Another real-world experience from the last few weeks:
• A client – not my client - passed away in their mid-30s.
• Their spouse – an acquaintance of mine – reached out for help since they didn’t know what to do.
• We found out that one of the three life insurance policies was left to their parents; they never updated beneficiaries after getting married.
• We were able to meet with the in-laws and set up a plan to gift the insurance proceeds to the spouse to support them and their young kids.
• Then we set up next steps – three important things that need to happen to support a single-parent household and provide peace of mind in case the Lord calls their second parent home.
Money doesn’t have to be complicated. I believe in keeping it simple and using bite-sized steps to protect families against life’s “what-ifs.”
See Thrivent.com/social for important disclosures.
Last week I got a call from a client I hadn’t heard from in a while:
A young family – Husband, wife, and two young daughters.
They called because their term life insurance was about to expire.
We had an insightful (and pretty common) conversation about juggling savings and expenses – Should we pay for more life insurance and put less into the Roth IRA or take out smaller policies and invest more? What about college down the road? What about {Insert expensive thing here}?
We were able to work through Thrivent’s “Financial House” and prioritize building a strong foundation before pushing the “Grow” level of the house.
Without a common framework or blueprint, how would you know if you’re building your house responsibly and setting yourself up for success?
If you’re balancing a bunch of saving/spending/investing goals, reach out – my team and I can help!
See thrivent.com/social for important disclosures.
Recently I had one of my very favorite types of cases.
TWO of my clients referred the same person to me - a friend of theirs who lost their job.
They had worked at the same job for 25 years and were laid off, just like that, in their mid-50s.
From a feeling of security to the unknown in an instant.
They were lucky, though.
The spouse still has a good job.
They saved well for retirement.
They have a pension.
These folks thought they would be OK but wanted to know for sure if they were still going to be able to realize their vision for the future – pay off their cabin & house, build a new garage, travel some, and generally maintain their lifestyle.
My team and I worked to understand their vision for the future, where they are now, and pointed them down the path that best matches their values; best of all, we were able to confirm to them that they would still be on track to live the life they had dreamed of.
The story doesn’t always turn out this way, but it’s fun when it does.
If you or someone you know has lost their job and is uncertain what their future will hold, I would love to help!
See thrivent.com/social for important disclosures.
I recently had a client qualify to have $57,000 (!) in student loans forgiven through the Public Service Loan Forgiveness (PSLF) program.
How do you know if you might qualify?
How to Qualify for PSLF:
• Eligible Loans: Must be Direct Loans. Private loans don't qualify.
• Qualifying Employer: Work full-time for U.S. government (federal, state, local, tribal, military) or a 501(c)(3) non-profit.
• Qualifying Repayment Plan: Make payments under an income-driven repayment plan or the 10-year Standard Plan.
• 120 Qualifying Payments: Make 120 on-time, full payments while employed by a qualifying employer. Payments don't have to be consecutive.
• Submit PSLF Form: Regularly submit the PSLF form to track progress.
• Apply for Forgiveness: Once 120 payments are made, submit the application.
What a life-changing program - be sure you’re taking advantage if you’re eligible!
See thrivent.com/social for important disclosures.
