Alec Falkenberg - WealthWave

Check out some of these statistics on why financial literacy is so important from young to old..

WealthWave, The Money Milestones Company – Financial Literacy and Financial Services America's financial understanding is faltering, and the implications are concerning. It's true that many people harbor the desire to manage their finances effectively. Still, the disturbing statistics paint a picture of a nation struggling with basic financial concepts and skills.

A topic of focus I have had with clients recently is where our day-to-day finances and spending is going. We generally know our annual income, we sometimes know our monthly bills... but people rarely recognize how much money they are blindly spending on a daily basis.

That ONE cup of coffee from (insert coffee store here) might be $5 today, but if you are going everyday, that's $150/month+. Is that worth it, or would you easily be able to save $100 by making it at home, and treating yourself to one coffee/week?

Pick your category, but I am willing to bet you will discover somewhere in your monthly spending a place where you can easily free up money.

Small Business Owners,

Are you wanting to serve your employees, but a 401k or retirement plan is too costly? I would be happy to help you... if setting up a plan might not be in your current budget, I would be happy to speak with your employees and can help those desiring on an individual level.

The majority of my industry focuses on the wealthy, so those working for a small business might get passed on too often. I would happy to teach your team the key financial concepts that I walk through with all my clients and help them put together a plan for the financial road ahead.

Let's make 2024 a great year (after we finish 2023 strong)!

Term Insurance - continued

Items to think about if you already have it:

1. Is it enough? Have you reviewed your current policy and know that this is enough coverage?
2. Will it last long enough? Did you buy a short term policy, but need to actually get coverage for a longer time period?
3. Are your beneficiaries up to date? Has anything changed?
4. When you got your policy, did you shop all companies?

Touching on this last question, it's important to have multiple options when looking at life insurance. There are over 700 insurance companies, so make sure that you are seeking coverage from an independent agent. I myself work with over 75 companies, and for the exact same client, I have seen premiums range significantly. Knowing that out of many options, you are going with the company that fits you best and can get you the best premium is critical.