If so, a good first step is to outline where you are today and then define your goals for tomorrow. Your Edward Jones team can walk you through these steps.
- Detail your current financial situation, including your income, living expenses, assets and debt, including any money set aside for emergencies.
- Take inventory of your current insurance coverage (including life, disability and liability insurance) held through and apart from your employer.
- Outline your expected lifetime sources of income, such as Social Security, pensions and annuities, and if you are near or already living in retirement.
- Review any current plans for covering health care and potential long-term care costs.
- Document your beneficiaries on all insurance policies and retirement and investment accounts.
- Determine when you last updated your important legal documents and asset transfer strategies, including your will, powers of attorney, living trust, etc.
Gathering this information can help you determine what you need to address to better prepare yourself in the case of an unanticipated event. The good news is you don’t have to do it alone. Your financial advisor can review your current situation to ensure your investment portfolio is properly aligned with your comfort with risk and documented financial goals. Then he or she can work with you to outline a strategy to help you prepare for the unexpected.
Edward Jones is a licensed insurance producer in all states and Washington, D.C., through Edward D. Jones & Co., L.P., and in California, New Mexico and Massachusetts through Edward Jones Insurance Agency of California, L.L.C.; Edward Jones Insurance Agency of New Mexico, L.L.C.; and Edward Jones Insurance Agency of Massachusetts, L.L.C.