Jurdy Cartoon – Meltdown at Work

Many of my contemporaries are in deep reflection about therest of their lives. We are at that age where we are acutely aware of the things on our bucket list something as simple as wanting to experience a jet ski (that would be on MY bucket list) or something as profound as leaving a legacy to society. Yet, while these lists are true desires, they aren’t being achieved. So often I hearI wish I could, but and thebut is often related to finances.

When you allow finances to block your dreams, a deal with the devil (money) is forged, and you feel stuck. This sense of feeling trapped is an impediment to a full life, happy relationships and work satisfaction. And sometimes, all it takes is some knowledge and information to master one’s own financial destiny to allay these feelings and help you live your dreams.

For those readers who may not know where to start, and feel daunted by the whole topic of money mastery, here is a checklist of areas of financial literacy you could use to start taking charge of your financial plan:

Budgets and Cash Flows: If you have delegated this function to a partner in the past, and have little idea what it takes financially for you and your family to live, this is a good place to start.

Credit: Know how credit works. If you do not have credit in your own name, get it immediately. Understand the basics of credit reports and profiles.

Financial Documents: Know their location and the institutions where family assets are held.

Investments: Understand the risk profile of the investments your family’s assets are in.

Taxes: Like many people who file jointly, you probably just sign the 1040; delve a little deeper to understand.

Health Care and other insurances: What would happen if you had to provide your own healthcare? What are the contingencies?

How Property is Titled: Home(s), car, other assets; understand the difference betweenJoint With Rights of Survivorship andJoint Tenants in Common

Estate Plans: Understand what happens upon the death of you or your partner; know the named beneficiaries of policies or trusts

For some this might seem overwhelming at first, so chew off one bite at a time. If you would like assistance on this journey of financial literacy, join me for the Unpack Your Bag, Lady! workshop in November: http://www.tinyurl.com/unpackyourbaglady.

Jurdy Cartoon – Meltdown at Work21121Jurdy Cartoon – Meltdown at Work

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