Tony Steuer Recommends - The Get Ready List 9-19-2024

?Here are my top 10 recommendations for the week.? Hopefully these will help you change the way you think about money and be financially prepared.

1) Why it’s important to balance risk and reward with your investments.?

?Investment Portfolio Rebalancing–What It Is and Why It's Critical with Laura D. Adams, MBA on the Money Girl Podcast. An in-depth look at what investment rebalancing is, why it’s essential for success, and six strategies to rebalance your portfolio, whether you're a novice or an experienced investor.Check it out (here)?

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2)?How do you create financially savvy kids??

?Creating financially savvy kids with Gayle Reaume and myself on The Get Ready Money Podcast.? We discussed why you can only teach, if people are interested in learning, The importance of having money work for you - use money to make money and why you need to avoid a scarcity mindset. Check out the podcast (here).

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3) Why stories are the key to every forecast.

A Number From Today and A Story About Tomorrow by Morgan Housel for the Collab Fund. Every forecast takes a number from today and multiplies it by a story about tomorrow. Investment valuations, economic outlooks, political forecasts – they all follow that formula. Something we know multiplied by a story we like. The trick when forecasting is realizing that’s what you’re doing. Read the article (here).

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4)?Why financial literacy can have a ripple effect through society.?

?Why being financially literate is good for you, the economy, the country … by Therese Faessler for the Swiss Finance & Technology Association. Broadly speaking, being financially literate is the ability to understand one’s current financial situation and plan for one’s financial future. Financial literacy is key because it brings financial inclusion. And financial inclusion has a positive impact, a ripple effect, not only on the individual, and the family, but also on companies, the economy, the country and society at large. Read the article (here).?

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5)?What is the future of financial advice??

?The Evolution of Financial Education with George Nichols III, CAP? , Derek N.H. Notman, CFP? and H. Adam Holt, CFP?, ChFC? on the Rethink Financial Advice Podcast. What does the future of financial education look like and how will it impact the growth of your (advisory) business?? George helps us understand what they (The American College of Financial Services) are seeing on a national level when it comes to shifting consumer expectations and how the College is evolving to meet these demands while also expanding their support to advisors to help them thrive. Check it out on YouTube (here).?

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6)?How do you choose between term and whole life insurance???

In this article for Bankrate by Ashlyn B. , I contributed insights on how you can choose between term life and whole life. A closer look at ow the cash value component works in different types of permanent life insurance policies including whole life, universal life, variable life and equity indexed universal life. And the importance of monitoring permanent life insurance policies every 2-3 years. Check out the article (here). ?

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7)?What’s going on with Long Term Care Insurance??

?What is LTC? Michael Kohrmann, CLTC? and Eric Alvarado sit down with Bill Comfort, CSA, CLTC? to talk about the current LTC landscape. They also cover the history of the Long Term Care Insurance market as well as the importance of a strategic plan. Check out the podcast on YouTube (here).?

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8)?Let’s change the game on financial equality.?

?How Sequin is Changing the Game for Financial Equality with Vrinda Gupta and Naseema McElroy on the Financially Intentional Podcast. Sequin is a financial technology company that’s changing the game for women and minorities. How Sequin is making banking work for us, helping us stop the bleeding from high fees and interest rates, and why it’s so important to have financial tools designed with us in mind. Listen to the show on Apple Podcasts (here).?

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9)?Are you entering a new stage of life??

?Money Checklist Bundles for Every Stage of Life from Marie Burns and Mind, Money, Motion . Over 30 Estate and Financial Planning checklists and resources to be ready for life’s unexpected events including suddenly single (divorced, widowed, separated), soon to be/currently retired, after your kids leave home, children, marriage, single adults and more.?

All of the checklists are 50% off through the end of September. Check them out (here).?

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10)?Are you or a parent aging alone??

?Historic Numbers of Americans Live by Themselves as They Age by Judith Graham for Kaiser Family Foundation Health News. Studies find that seniors on their own are at higher risk of becoming isolated, depressed, and inactive, having accidents, and neglecting to care for themselves. As a result, they tend to be hospitalized more often and suffer earlier-than-expected deaths.?

As Joy Loverde commented: "This is, first and foremost, an older women’s issue, because women outlive men and because they’re less likely to remarry after being widowed or divorcing." Read the article (here).?

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Do you have a recommendation? DM or leave in the comments.

Until next week, let’s change the way we think about money.

Tony

P.S. If you are a financial preparedness/financial literacy advocate, check out my LinkedIn Group - The Get Ready Network (here): https://www.dhirubhai.net/groups/14238582/