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5 Life Insurance Tools to Help Determine Your Financial Needs

Posted by catholicfinanciallife

Sep 22, 2015 5:00:00 PM

Life insurance has great value to anyone, whether you’re married, single, retired, a growing family, or a small business owner. The proceeds can help with the many financial needs a family may have including:

    • Paying bills

    • Education for children

    • Retirement plan protection

    • Future financial obligations


Knowing if you need life insurance means you need to think of a worst-case scenario, meaning think of what would happen if you died today and how that could affect your family financially. Life insurance helps to ensure that your loved ones are protected and provided for even after you’re gone.

Another point to consider is how much life insurance you need. First you must determine how much money your family will need after your death for immediate expenses, and how much money your family will need to continue their standard living. To help determine these amounts, here are some useful tools.




These tools are just stepping-stones to give you an idea for how much life insurance you may need. It is important to consult with a professional insurance advisor to help determine other factors that need to be considered before you purchase life insurance. Take the time with the life insurance professional to carefully assess your needs and cover all your options before choosing a plan.

Contact a Catholic Financial Life Advisor today for more information about life insurance and determining your financial needs. Click here to find an advisor in your area.

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Topics: Catholic Financial Life, Parenting, Financial Literacy, Life Insurance, Financial Security

Asking the Right Questions

Posted by catholicfinanciallife

Sep 19, 2015 11:00:00 AM

asking_the_right_questions

When it comes to insurance, make the decision-making process a little less daunting by asking the right questions. During this process, sit down with your personal Catholic Financial Life advisor and consider the following questions:

    • Does your income fluctuate? If yes, how does that impact your short and long-term financial goals?

    • What plans do you currently have in place to make sure you reach these goals without taking on a lot of risk?

    • How much of the money you have set aside is subject to market fluctuations, inflation and taxation?

    • What financial role are you planning to take with your children’s/grandchildren’s education?

    • If you are a business owner, have you determined the value of your business if you wanted to sell it today? Are you aware of the most tax-efficient ways to transfer your business?

    • What income will you need during retirement to enjoy the same standard of living you are accustomed to?

Contact an advisor about our your retirement options

Click here for more information on Catholic Financial Life’s products

Products are not available in all states. Catholic Financial Life is not licensed in all states. Nothing contained herein should be construed as solicitation for insurance, financial products or annuity products in any state in which Catholic Financial Life is not licensed.

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Topics: Financial Literacy, Life Insurance, Financial Security

September is Life Insurance Awareness Month

Posted by catholicfinanciallife

Sep 2, 2015 10:17:26 AM

A young family protects their future with life insurance.Life insurance is the foundation of a family’s financial security. Often, however, this important piece of the financial planning puzzle is overlooked. According to a recent life insurance industry study conducted by LIMRA, most Americans put other financial priorities ahead of purchasing life insurance, and four in 10 don’t know how much they need or what type to buy.

Employer-provided life insurance is a great supplement to coverage; however few consider that an employer-provided plan may disappear if the job is lost. In a time when the job market is tight and our economy is struggling with a slow recovery, having the financial safety net provided by individual life insurance is more important than ever.

The top two reasons Americans give for having life insurance in the event tragedy strikes are:

  • To cover final expenses
  • To replace the income of their family’s primary breadwinner


What would a tragedy look like for your family?

How would they be financially impacted? Life insurance is the foundation of a family’s financial security precisely because it is one of the few things that protect a family’s financial hopes and dreams. Life insurance can be used to pay the mortgage, allowing a family to keep their home. It can provide for a college education. These are dreams that would quickly fade at the death of one or both parents without proper planning in place.

So how much life insurance is enough? That’s a question only you can answer. HA married couple has goals for the future and protects these goals with life insurance.ere is a link an article and worksheet to help estimate how much life insurance you may need. Also, our handy financial tools and life insurance calculators may help you estimate your life insurance needs.

~ Daniel T. Lloyd, CPA, FLMI, CLU, ChFC
   Catholic Financial Life Advisor, South Eastern Wisconsin Agency (Milwaukee Agency)

The above is an excerpt from our Member Magazine highlighting the importance of protecting your dreams, preserving assets, and providing security through life insurance.
To read the entire article, click here...

Contact an advisor about our your retirement options

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Four in Ten Americans Admit They Need More Life Insurance. Are You One?

 

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Catholic Schools Week 2015: Catholic School Locator

Posted by catholicfinanciallife

Jan 26, 2015 3:19:00 AM

We're continuing to offer information on Catholic Schools Week 2015, as we raise awareness of Catholic schools, faith-based education, its value, advantages of a Catholic education and much more! This year's theme focuses on three core values of Catholic schools: "Faith. Academics. Service."

What is Catholic Schools Week?

Where can I find more information?
Check out the websites in your area listed below for open house information and other events planned for Catholic Schools Week 2015. Some schools are holding open houses and other events this weekend to kick off the week, so be sure to check in! 


Illinois

Archdiocese of Chicago
Diocese of Springfield
Diocese of Peoria
Diocese of Belleville
Diocese of Joliet
Diocese of Rockford

Massachusetts

Archdiocese of Boston
Diocese of Fall River
Diocese of Springfield
Diocese of Worcester

 

Iowa

Diocese of Davenport
Diocese of Des Moines
Diocese of Dubuque
Diocese of Sioux City

Missouri

Archdiocese of St. Louis
Diocese of Kansas City-St. Joseph
Diocese of Jefferson City
Diocese of Springfield-Cape Girardeau

Minnesota

Archdiocese of Saint Paul & Minneapolis
Diocese of Crookston
Diocese of Duluth
Diocese of New Ulm
Diocese of St. Cloud
Diocese of Winona

 

Wisconsin

Archdiocese of Milwaukee
Diocese of Madison
Diocese of Green Bay

Diocese of La Crosse

Diocese of Superior

Rhode Island

Catholic Schools of Rhode Island

 

 
Your state is not listed below? No problem! Check the National Catholic Educational Association website and use their Catholic School & Diocesan Locator to find a Catholic school near you!

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Topics: Education, events, Our Catholic Faith

Always Be Prepared: Budgeting

Posted by catholicfinanciallife

Aug 16, 2013 12:06:24 PM

Whether we like it or not, autumn is just around the corner. Like the changing colors in the leaves, fall can bring about a change in our financial planning as well. One easy way to transition out of "summer mode" is to re-emphasize the importance of budgeting.   Like all planning in life, budgeting is an easy habit to lose track of during the busy summer months. Use these tips to help better prepare for your expenses and to plan for your current and future financial situations.budget


Plan for emergencies- It's one of the most basic points of budgeting, but often overlooked. Unfortunately, we can never predict if/when a car needs repairs, a tree limb falls on a house or unemployment will interrupt us financially. Putting away a bit of extra money from every pay check into an emergency fund will ensure that you can breathe a bit easier when unexpected emergency expenses arise. Like the old saying goes, it’s better to be safe than sorry.

Remember that winter's coming- For some of us, the change in season means considerably cooler weather. In turn, we may need to crank our heaters up, which can also crank up your utilities bill very quickly as well. Estimate spending a little more money on upcoming utilities bills with cooler winter approaching.  You may not need it, depending on your geographic region but it is always better to overestimate than underestimate.

Have weekly check-ins with your bankTrack your bank account online, or call your bank once a week to keep tabs on your different account totals. Verifying your balance weekly keeps you on top of your game, so you never have any unexpected surprises. Although having direct deposit is a reliable service, you never know when technology might accidentally forget to issue that coveted paycheck. Staying in tune with your balance will only help for future planning in the long run.

Create a bill calendar- Write out all of your monthly payments and the date when you usually receive the bill. In doing so, it prioritizes what you absolutely have to pay, so you can figure out how much to save. This is also a great file to have on hand if you ever need to see when a bill usually comes.  Make sure your spouse or anyone who you may share expenses with know of this calendar, so that they can add their expenses to the list if a joint account is being utilized.

These tips are just a start to get your budgeting system back on track. With the change in season approaching, and the end of the year almost in sight, autumn creates a perfect opportunity to include budgeting in on your daily schedule to ensure that your financial responsibilities are in order.

For more information about creating a budget, check out the budgeting tools at the Catholic Financial Life website

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Topics: Financial Literacy

Summer Boredom Buster #22 - 10 Cool Ways to Use a Cardboard Box!

Posted by catholicfinanciallife

Jul 18, 2013 6:00:19 AM

168855387With the days of summer stretching ahead it’s easy for children to get their creativity stuck in a rut. It’s time to bring out…the cardboard boxes. Here are 10 ways to play all day-with a cardboard box!

1)      Make a Fort: Cut, tape and paint your boxes for a little extra pizazz. Make tunnels, turrets and anything you can think of to create the coolest box fort on the block.

2)      Art Easels: Who says you have to draw or paint on canvas? Make the box your easel as you paint, draw, apply glitter/string and any other craft items to turn your box into a masterpiece.

3)      Summer Memory Board: Print off pictures, words and brochures of all the cool things or places you’ve visited this summer. Make a memory board. This will be a great keepsake for many years to come to remember your summer.

4)      Costume Contest: Hold a contest to see who can come up with the most creative costume made from boxes. Give out awards for “best design”, “most creativity”, or “best effort.”

5)      Create a Sport: Basketball has hoops and soccer has nets…use your imagination that incorporates boxes as an endpoint. Write down the rules and then have fun playing your new sport with a box.

6)      Put on a Play: Put on a play with your boxes as stage props of course! Design, paint and arrange your set to incorporate the drama of your theatre performance.

7)      Make a Chair: There are many easy online instructions to create a chair or bench from a cardboard box. Here's one site that has instructions. Build one, grab a blanket and enjoy a movie on your new chair.

8)      Glow-in-the-Dark Stars: This project is simple and inspiring. Cut out stars from the cardboard box (make sure to help your children if they are not good cutters).  Paint the stars in glow and the dark paint and sprinkle with glitter. When dried, hang them on a bedroom ceiling for some extra shine.

9)      Make a Basket: If your box is small enough, make a basket to transport all of your things from inside the house to outside. Attach string to the sides of the box for the perfect creation of a box tote.

10)   Help Mom Organize- Boxes are a great place to store things you don’t quite need. Help mom out by going through your clothes and putting the things you don’t wear in the boxes. Go with her to a local thrift store to donate the clothes that are still in wearable condition.

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Summer Safety Tips

Posted by catholicfinanciallife

Jul 17, 2013 12:00:54 AM

134724666The excitement of summer and fun in the sun can unexpectedly put our children in harms way.  Review these summer safety tips with your child to avoid accidents during this season.

Always wear a helmet

Helmets can reduce the risk of brain injury and even save lives if you are involved in a biking accident. So they are a must if your child spends time on a bike this summer. Allowing your child to pick out their own helmet may make it a more desirable process. And don't forget your own helmet-you'll be protecting yourself and showing your kids that's it's a necessity when biking. And when you're buying a helmet, make sure it has a sticker or label that indicates that it meets the CPSC safety standard.

Use sun smarts

Always lather your child up in sunscreen before outdoor play. Dermatologists say that young children who receive a blistering sunburn are twice as likely to develop melanoma in later stages of life. Many children don’t like sunscreen, but make it part of the routine in going outside. Using spray-on, colored or scented sunscreen can be a little more fun. Also make sure that you re-apply every two hours. Setting a reminder on your phone is a great way to know that you are applying as much as you should be.  Children can also get caught up in their games and experience heat stress and can become dehydrated quickly . Always make sure your child has enough to drink on hot summer days, and should be moved indoors or another cool location immediately if they become lightheaded or nauseous.

Water safety

Pools and water activities are common during the hot days of summer. Enrolling children in swim lessons at an early age can help them feel more confident in the water. Don’t assume, however, that because a child can swim that the dangers of drowning disappear. Children should never be left unsupervised by a pool or body of water.  Also make sure your pool follows national and neighborhood safety regulations. For an comprehensive list of sun and water safety tips, visit the American Academy of Pediatrics Website.

Crossing the street

Stop. Look both ways. Then do it again. They’ve heard it a million times, but you can never say it too much. Children aren't always able to estimate of how fast a car is traveling, They also often assume that if they can see the car then the driver will see them. Consider giving a reward when you witness your child doing a great job of stopping and looking both ways. This little tactic will be a positive reinforcement and will ease your worry about your child’s safety when crossing the street.

Encourage the buddy system

It’s always better to have your child playing or traveling in groups. If your child wants to go around the neighborhood or ride their bike, make sure they ask a sibling or friend to tag along. The buddy system is a safe way to go.

Stay informed

Encourage your children to keep you posted on their whereabouts. If your child is a roamer who likes to search the neighborhood for kids to play with, request that they call you and let you know their location when they arrive. If they have a mobile phone all the better.

While these are a few of the more common safety tips, the American Academy of Pediatrics website is a great resource for child summer safety tips covering such topics as law mower, insect, playground safety, and much more. Click here to visit their website.

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Five Movie Money-saving Tips

Posted by catholicfinanciallife

Jul 15, 2013 12:27:31 PM

159339916Spending a hot summer day in the cool and relaxing movie theatre appeals to many people. What isn’t appealing is the high price tag that comes along with an outing to the theatre. Check out some of our ideas for saving a little cash when you decide to hit the cinema this summer season. Once you decide on a movie, you can visit this link for Catholic movie ratings.

Be on the lookout for special deals - Websites like Groupon and LivingSocial sometimes have discounted ticket offers. Also there may be discounts available through a membership such as at Cosco or through AAA. Another website to check is Cardcash where you can buy and sell gift cards. Sometimes the theaters themselves will have discounts as part a loyalty reward program. Chains like Fandango also offers a special discount if a Visa Signature card is used.

Attend the matinee- Each theatre is different, but a general rule of thumb is that movies that begin before 5:00p.m.are considered the matinee price. These few dollars add up quickly, especially if you are attending the movie with a large group. Check your local theatre listings for specific matinee prices and viewing times.

Be on the hunt for kids’ specials- Some theatres offer a special children’s movie showing at least once a week. This is great for younger children, because the movies that are played are usually older ones that are already out of theatres. This won’t matter to most children, who are just excited about the movie-going experience in general.

Save cash on snacks- It’s so very tempting to purchase some delicious buttery popcorn that we associate with the movie theatre. Any food sold at these venues are highly inflated, and you can often find yourself spending more on the food than you did for the movie itself. Have lunch or dinner right before you go to the movie, or offer your kids a special treat after the movie. If popcorn at the theater is a must, consider purchasing one of the larger sizes and then divide it between the kids using paper lunch bags.

Find a drive-in- If you are lucky enough to have a drive-in theater in your area, this is a great and really fun option. Admission is often cheaper than movies that are held indoors and some even offer double features which is a great value for your dollar. Drive in theaters are disappearing rapidly and may soon be a thing of the past, so pack up the blankets and the snacks to get cozy. Going to a drive-in provides more than a movie, it will create lasting family memories. Visit this driveinmovie.com to see if there's a theater near you.

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Games Galore

Posted by catholicfinanciallife

Jul 13, 2013 12:00:54 AM

106542869A nice way to round out a fun summer day is by gathering the neighbor families over for some yard games. Share these games with your families and grandkids to create some amazing memories. Here are just a few samples of our classic favorites:

Stuck in the Mud


This is a popular twist on the game of tag. Designate one person to be “it.” The goal is to run around and avoid being tagged by this person. If tagged, you must freeze where you are and spread your legs shoulder-width apart. To become free, a person who has not yet been tagged must crawl beneath your legs. Once freed, you can start to run again and free other people who have become “stuck in the mud.” The game ends when the tagger has frozen every person playing or when a designated time limit has been reached.

One ‘o Clock the Wolf is Out


This classic game can be a bit spooky for younger kids, but is sure to delight children who love a scary thrill. Select a person to be the “wolf.” Usually, it is more fun if this figure is a parent who can really get into acting like a wolf. Give this person time to hide somewhere in the yard. After this time period, have the children gather in a pack and walk around the yard, looking for the wolf. They should chant, “1:00, the wolf is out. 2:00, the wolf is out, etc.” during their search. After the wolf has been spotted it can begin its chase. The children must run back to a designated “safe zone” positioned at the front of the yard. The children that make it back are “safe.” The ones who have been tagged must decide which one will become the next wolf.

Capture the Flag


This game can truly last for hours, so make sure there is lots of time devoted to this game. Divide the group into two teams. Each group receives a flag (usually a hand towel or rag works best). The yard should be split in half equally, so that each team has a side. The goal of the game is to hide your flag (on your side of the yard) and to locate and steal the other team’s flag without being tagged. When a player from an opposing team crosses the line, you may tag them. They then have to sit in the “jail” and can only be rescued if someone from their team comes and tags them. The game ends when someone from the opposing team grabs the flag from the other side and runs back to the safety of their own side. However, if a player grabs the flag and is tagged before they reach safety, the flag is positioned on the lawn where the player was tagged. To make the game go faster, forbid “guards” to directly surround the flag. Make sure rules are known to all members before the game to avoid confusion during play.
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Summer Boredom Buster #12: Volunteer Ideas for Kids

Posted by catholicfinanciallife

Jul 12, 2013 12:00:24 AM

With a little more free time during the summer, volunteering is a great way to show your children the value of giving back to the community and helping others in need.  Listed below are some great volunteer ideas for children of all ages.

Age 4-6: Running a Lemonade Stand for Charity

Having a lemonade stand or bake sale is the perfect way for young children to learn the value of money and the amazing feeling of donating proceeds to a worthy cause. Have your kids pick an organization for them to raise money towards. The total amount may not 78035112be noteworthy, but the values your children will learn by donating will carry with them throughout life.

Age 7-10: Volunteering at your local animal shelter

This activity can be especially exciting for children who love animals. Many shelters allow children volunteers as long as there is an adult or older sibling present. Duties vary to helping with feeding, cleaning cages and just getting the pets out for some playtime. Your children will love this feel-good activity.

Age 11-13: Working outdoors

Doing yard work for elderly neighbors, or picking up litter around parks and trails are great volunteer opportunities for your pre-teen aged children. They will love being outside in the nice weather and will see the visual accomplishments of their work. Let them choose who they would like to help, so they feel that self-directed in their contribution.

Age 14-16: Adopt a "grandparent"

This is the perfect age to form relationships with the elderly who reside in a care center and don't get any many visitors. Contact your local assisted living or nursing homes to see if there is someone who could use some afternoon visits. Games of chess, simple crafts and just trading stories will help strengthen the bond between generations.

Age 17 and up: Join a group

Your teenagers who are close to adulthood are old enough to really expand their horizons and join an organization who serves to volunteer. Encourage them to go on an organized mission trip, join a local organization that has helped them in the past or to check out your area for the nearest Catholic Financial Life chapter. Encouraging them to get involved will be beneficial for encouraging a holistic lifestyle and will look good on college applications and resumes.

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