Can you get your financial life in order in under 24 hours? Yes, yes, you can.
This handy checklist can help you achieve short and long term money goals, help protect your loved ones from the unexpected, and start the next generation off on the right path to financial success.
Consider making these money moves now.
Take care of the ones you love
Don’t stay up nights worrying about what could happen to your family if something should happen to you. A term life insurance policy, which covers you for a set period of time, is generally more affordable than a permanent life insurance policy, which covers you for your entire life. A bonus: The younger you are when you get a life insurance policy, the more affordable it is likely to be.
Apply for instant coverage in about 5 minutes with Ladder*.
Start saving for retirement
Did you know that one in five Americans have money put aside for retirement? You can break away from the trend by opening an IRA today. And best of all, your money will grow tax-efficiently until you’re 59 ½. Got a 401K through your work? You can open a Roth or traditional IRA in addition to your workplace retirement account. Here’s to a relaxing retirement!
Still not convinced? All you need is $5 to open a Stash Retire account.
Refinance your student loans
Student loans are a fact of life. In 2018, around one in four American adults are paying off student loans, with the average borrower owing $37,172. By refinancing your existing student loans you could see a dramatic reduction in your interest rate – lowering your monthly payments. And that can mean more money to put aside for your future.
You can check and see if you qualify for a better rate with LendKey*.
Make a will
It’s a really important thing that not enough people take care of. In fact, 71.6% of Americans do not have an up-to-date will. There’s no reason to get the willies (no pun intended) over making a will. Think of it as taking control of what happens to your family and your money. Just do it and update it as your life changes over time. No spooky stuff, we promise.
Go for it, make a will with USLegalWills*.
Help your favorite kid
Wouldn’t it have been nice if someone had handed money when you were first starting out? Now you can do it for a child you love. A custodial account lets you open an investment account that you can contribute to (while teaching your child about how compounding can work along the way). Best of all, when the child grows up, he or she can use the money for just about anything.
Open a custodial account on Stash.
Set up an emergency fund
Life happens. An emergency or “rainy day fund” can keep you afloat if you lose your job, have to move suddenly, or have some other catastrophe that affects your finances. Keeping six months of savings (what you need to pay your bills and basics) in the bank is serious piece of mind.
Congratulations! Take a victory lap, you deserve it.
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Invest in their futures
Open a custodial account for the kids in your lifeStart now
*Disclosure: Stash is a paid marketing partner of Ladder, LendKey, and USLegalWills. All content herein is for informational purposes only.