Wednesday, March 20, 2013

Save Money...Plan Ahead

Save Money…Plan Ahead

I was recently thinking about the amount of planning and preparation that people put into a vacation or a wedding or purchasing a car or a home in order to make sure that they are getting what they want at an affordable price. Yet, many people do not make any plans for one of the most expensive purchases that they will ever make…their funeral and final expenses. Unless you plan in advance and shop around you are most likely going to have to pay top dollar. The average funeral in the United States costs about $6,500 according to the National Funeral Directors Association. Although the cost of final expenses can vary from state to state, the total sum can easily reach $10,000 according to the AARP.

3 Major topics need to be discussed when considering funeral and final expense funding:
1.)    Plan ahead
Talk about your plans with your family members. Be sure to discuss your wishes and find out what is important to them as well
2.)    Know your rights
The Federal Trade Commission (FTC) Funeral Rule requires that mortuaries present a price list of services, like a shoppers’ guide, to consumers before their death
3.)    Shop around
Make sure that you are not spending too much money. It is a good idea to purchase life insurance to fund this important expense

While families should make decisions about funeral arrangements in advance, they should NOT pay for them in advance. Over time prices may go up and businesses may close or change ownership or a person could change their mind about their desired arrangements.

People who favor a traditional funeral and burial can save hundreds or even thousands of dollars by taking these simple steps. Many people say that they have found great meaning and peace in being able to carry out thoughtful funeral plans that honored their family members in an appropriate and affordable way. Purchasing life insurance is a great way to make sure that you will have the funds to cover your funeral and final expense plans. Be sure to meet with your financial representative to discuss this and all of your important financial needs.

-Tom Newsad

Tom Newsad and Elaine Dominy from Newsad Insurance Services can meet with you. Tom and Elaine serve Middletown, Franklin, Trenton, Monroe, Liberty Township, Hamilton, Dayton, and Oxford.

Reaching Retirement Age

Reaching Retirement Age

It is a good idea to review your portfolio with your financial services provider more frequently as you reach retirement age.  Being sure not to draw out more than 6-8% per year in retirement savings can be beneficial in preventing you from spending down your account too quickly.  You may also want to consider moving your risky investments to more secure or fixed investments.  This could help prevent you from losing money in market downturns.  It is also important to have adequate life insurance to offset any losses in your portfolio and to provide your spouse with lost income.

Tom Newsad is a life insurance and financial services provider serving Butler, Warren, Hamilton, and Montgomery counties in Ohio. 

Tuesday, March 19, 2013

Ten Critical Rules of Smart Phone Etiquette

Ten Critical Rules of Smart Phone Etiquette

  1. Prepare a real signature.  Nobody cares anymore if your message comes from an iPad, computer, Blackberry, or iPhone.
  2. You are not the paparazzi (unless you are!).  Use discretion—ask permission when taking pictures.
  3. Stop shouting (be cool on the phone!).  Be aware of your own voice so that you will not seem like an insensitive jerk.
  4. Communicate with care; spell check and try to use correct grammar.
  5. Pull aside for communication, be it texting or long conversations.  Safety is priority one!
  6. Respect the live people in your presence.  Be present with the people you are with—turn your phone to vibrate or off!
  7. Find the off switch! It is okay to shut it off.
  8. Notifications are for you only!  Don’t have obnoxious ring tones set up and ringing all the time.  A simple buzz alert works best.
  9. You are not a juke box!  Be professional.  Its okay to store music but be discreet (don’t let your phone blast your favorite Judas Priest song!).
  10. Respond, respond, respond.  Social media has made this easy.  Take a few minutes out of each day to look at this!