3 Steps to a Financially Stress-Free Life

Has financial stress become the new normal for most of us?

If you’re feeling financial stress and worry, you’re not alone. But it’s not inevitable. You don’t have to panic about your present or agonize about the what-ifs in the future. In this blog post, I’ll share three time-tested keys to achieving financial peace of mind, so you can weather whatever curve balls life throws at you…

Step 1: Have a Sizeable Liquid Rainy Day Fund 

Life happens, and we should all expect the unexpected. Without safe and liquid cash reserves, how will you cope with:

  • A medical emergency?
  • Disability?
  • A broken major appliance or leaky roof?
  • Loss of a job?
  • A family member needing assistance?

Without a sizeable liquid rainy day fund, you may be forced into selling or liquidating your nest egg assets prematurely—the investments you planned on keeping over the long haul. When this happens, the timing is often terrible. You’re at the mercy of current market conditions and forced to sell at the worst possible time.

Honestly? That’s how the majority of people live. Their fortunes depend on Wall Street, the Dow Jones, the next paycheck coming in. (Great Grandma at least had that old jelly jar filled with cash!)

But what if your financial pyramid looked like this?

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Sure-Fire Results: How Old Sensibilities Are Proving a Potent Balm for Modern Personal Finance Ailments

The ’10/10/10′ Formula of Savings Rescues Many Overstretched Family Budgets

Executive Summary: Most modern Americans overspend, assume too much debt, and fail to invest wisely for retirement.  Tim Austin, a leading proponent of ‘old-fashioned’ spending and savings strategies, recommends a time-tested 10/10/10 financial formula: saving 10% of gross income for the near-term; 10% for the mid-term; and setting aside 10% for the long-term.  Austin’s favorite savings tool is specially-designed dividend-paying whole life insurance policies such as those structured by Bank On Yourself’s specially trained and authorized advisors.

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By Pamela Yellen and Dean Rotbart

Even back in 1975, the year comedian Woody Allen wrote, directed and starred in the movie Love and Death, the perception of whole life insurance as a savings instrument designed for fuddy-duddies and masochists was already commonplace.

There are some things worse than death”

…deadpans the film’s protagonist, Boris Grushenko, played by Allen…

If you’ve ever spent an evening with an insurance salesman, I’m sure you know what I mean”

[Read more…] “Sure-Fire Results: How Old Sensibilities Are Proving a Potent Balm for Modern Personal Finance Ailments”