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Teach Me

Your Financial Life Checklist

February 22, 2018

4 min read

Make sure your home is insured, whether you rent or own.

Get term-life insurance now.

Build the future of a child you love with a custodial account.

Start saving for retirement (it’s never too early) with Stash Retire.

✔ Create a diversified investment portfolio with Stash Invest.

Item #1. Protect your stuff

Good news for homeowners and renters: It doesn’t cost a lot of money to protect your stuff. Homeowners or renters insurance protects all your valuables in case disaster strikes, and can even cover your living expenses if you have to be out of your apartment or home for a while.

No more forms, phone calls, and headaches. Now, you can get a policy that’s just right for you, right from your phone. You can get covered for a long list of things, including theft, fire, and third-party injuries, in less than 3 minutes. Yes, really.

With Lemonade*, you can get a policy starting at $5 a month.

Learn more about how to get renters or homeowners insurance with Lemonade here.

Item #2. Protect your family

We get it. Buying life insurance seems like a really adult decision. But really, it needn’t be so scary. It can actually be a really easy way to avoid a lot of really big problems.

There are lots of different types of life insurance. Whole life insurance covers you for your entire life and has a cash value. Term-life insurance provides  coverage over a specific period of time. This can be 10 years, 15 years, 20 years, or more, depending on what you choose. Term life insurance tends to be the cheapest option if you only need protection for your family and dependents for a specific amount of time.

A term-life insurance policy can provide a financial safety net for your dependents in case of your unexpected passing. Who are dependents? They’re anyone that relies on you financially (your kids, an elderly parent, younger sibling). It can help your family play the bills if anything should happen to you. This can include outstanding student loan debt, medical debt, or other outstanding expenses.

Here’s the good news: The younger you are, the more affordable your life insurance is likely to be. Tech-savvy insurance providers can also offer more flexibility for your coverage needs – you can lock in a premium rate that will stay the same for the entire term of your policy, or you can lower your premiums later on by adjusting your insurance coverage as your needs change.

Ladder* can give you a term life insurance quote online in seconds and you can apply in minutes for an instant decision.

Learn more about how to get covered with Ladder.

Item #3. Give a kid you love a head start

We all want to send our kids out into the world with money in their pockets and a solid financial education. With a custodial account, you can start contributing to it when they’re young–and teach them all about about investing along the way.

After your child (or nephew, or goddaughter, or sibling) turns 18, you can hand it over to them and they can keep contributing to it. They can use the money for school, a down payment on a home, or anything they choose.

Open a custodial account on Stash now.

Item #4. Create a Will

Take control of what happens to your money, property, and the things you care about. You’ll need a will to manage your assets and help the ones you love once you’re gone.

A will may be the most essential document you’ll ever make. Creating one is easy and affordable.

Now’s the time, create a will now with US Legal Wills.

Item #5. Start investing for your future

Here’s the straight truth: You don’t need to be rich to be an investor. A little money, put toward a diversified portfolio of investments, each week over time can add up to a bona fide nest egg you can be proud of.

It’s easy to invest for long-term goals like saving for a down payment on a house while you’re saving for retirement. In fact, you can do it with Stash.

Stash Invest and Stash Retire are two different investment accounts (with unique tax advantages) that you can sign up with from your computer or phone. No forms, no hassle, we guide you every step of the way.

Sign up for Stash Invest. Start with just $5.
Sign up for Stash Retire. Open an account with just $15.

Item #6. Put your saving and investing into gear

Already have Stash? Now you’re ready to put the pedal to the metal. Investing money on a consistent basis is easy when it’s automatic.

New investor, meet Auto-Stash.

This easy, automated cousin to Smart-Save lets you save money into your portfolio of Stash investments as often as you like. Each week? Every two weeks? It’s up to you.

Start where you’re comfortable and scale up from there.

Already have Stash? Log in and turn on Auto-Stash to power your investing strategy.

Item #6. Get serious about saving money

When it comes to saving money, automatic beats manual. Remembering to set money aside each week can be a challenge. And let’s be real, sometimes, we “forget” on purpose because saving money is hard.

When it comes to saving, there’s no one-size fits all strategy. Some weeks, putting aside $50 may feel like a breeze. Other weeks, just finding change in our pockets can feel like a victory.

Check out Smart-Save**, the handy Stash feature that knows just how much you can set aside each week. It saves for you automatically. Pretty smart.

Already have Stash? Log in and turn on Smart-Save for an easy way to save, every week.

*  Stash is a paid marketing partner of Lemonade and Ladder. All information provided herein is for informational purposes only.

** Please note, the Smart-Save feature is not a savings account offered by a bank. Smart-Save is a feature that may be turned on and connected to the checking account that is linked to your Stash Invest account. This feature can automatically transfer a percentage of your available funds from your checking account into your Stash cash balance. The percentage that is transferred from your checking account is determined by a methodology that studies the spending patterns of each individual user.

By Lindsay Goldwert
Lindsay Goldwert is Senior Editor at Stash.

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This material has been distributed for informational and educational purposes only, represents an assessment of the market environment as of the date of publication, is subject to change without notice, and is not intended as investment, legal, accounting, or tax advice or opinion. Stash assumes no obligation to provide notifications of changes in any factors that could affect the information provided. This information should not be relied upon by the reader as research or investment advice regarding any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

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