Jared DeRossett, Financial Professional

07/24/2023

Will your money last as long as you do? It’s something that we hear about, but rarely think about. According to a 2017 study, 63% of people have a greater fear of running out of money in retirement than dying (can only imagine what that number is today!).

There are certain disciplines that you need to have (learn about it on our How Money Works Zoom class Monday nights). But today, I wanted to shine a light on four threats that you must conquer in your journey of building wealth:

⏰ Procrastination: “Oh I’ll start saving for retirement once I’m out of debt” or “I don’t have the budget to save” are common rebuttals. The time to start is NOW - Pay Yourself First! Make adjustments. Don’t wait for that raise, start where you are and develop the discipline of saving.

🎈Inflation: Over the last 100 years, the cost of goods increased by an average of 2.8% each year due to inflation. Assuming that stays where it is, the dollar amount you think you need today, will likely double by the time your retire.

📉 Losses: Diversification is a good thing and you should take proper risks to accumulate wealth. But you also need to have strategies to shield your wealth from loss of principal.

💰 Taxes: Choosing the correct financial vehicles can help mitigate the losses that taxes bring upon when it comes time to start drawing money out in retirement.

07/17/2023

Money Milestone Monday — Milestone #2 Secure Proper Protection

Life insurance, in essence, is the protection of your financial assets, but, how much do you need? Using the D.I.M.E. Formula, you’ll see that your free plan offered by an employer may not be enough.

“Without your ability to provide for your family or your business, stability they enjoy today could become a hardship they can’t overcome tomorrow”. - How Money Works

Reach out to me if you’d like to learn more about ensuring the protection of your most valuable asset.

07/13/2023

This is a short, 5-minute article in regards to the wealth transfer that will ensue over the coming years. Many of us will be inheriting money from our loved ones, but will have no idea what to do with the money.

I lost my mother at 21 years old and was left a lump-sum inheritance. I had no clue what to do with the money, and spent it so poorly. If I knew then what I know now, I could be in a much better position for my future. Thankfully, you all can avoid the mistakes I made, which you can do through learning exactly how money works. Please reach out if you'd like to learn more!

As the Baby Boomer generation ages, it’s more important than ever that Gen Xers talk to their family and understand how their wealth situation could change.

07/13/2023

Hello everyone! I'm thrilled to embark on this new venture of life insurance and promoting financial literacy. This page will be used for educational purposes only, shedding light on how to increase your financial security for the well-being of your family.

If what I share interests you, and you would like to learn more about what you can do to protect and build your wealth, please message me for a consultation.

As always, thank you for your support and God bless!

Send a message to learn more