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Your Financial Journey Protecting your Assets

Tools for your Financial Journey

Helpful resource to speed you on your journey to achieve your financial goals.

Protecting Your Assets

Nothing builds wealth faster than taking good care of what you already have. YOU are your most valuable asset; so start there to make sure you keep what you have worked hard to acquire. Establishing a rainy day fund is often our first line of defense against financial misfortune so don’t forget to put “saving” as a way to protect your assets.

We all have an estate so a good plan starts with completing the documents appropriate for your situation.

Everyone should have these basics:

  • Simple will: Who should get your possessions?
  • Health care directive: Who should speak for you in medical situations if you cannot?
  • Power of Attorney: Who should manage your finances if you cannot?

Parents and guardians should have:

  • Guardianship: Who should take care of your children under the age of 18?
Young black woman holding a rainbow umbrella

Tip 1

Get your personal estate documents in order (check the secretary of state or state bar association where you live for resources and people that can assist you in estate planning).

Tip 2

Inventory your possessions (and take photos) and keep it in a safe place in the event of a natural disaster or other loss. There are several apps and software to make this an easy task.

Tip 3

Update your documents every year as necessary or when you experience life changes (marriage, divorce, children, moving, changing jobs).