Reports show that less than a third of couples who plan a wedding that costs more than $10,000 save more than a couple of thousand dollars toward paying for it. Yet Weddings today can cost an average of $20,000 or more for the reception hall, caterer, flowers, decorations, Wedding gown, Rings, and don't forget the honeymoon. So how do you pay for all this extravagance?

1- Save for your wedding. Certificates of Deposits ( CDs) offer one option for short-term savings that offers higher returns on the initial investment. Having a regular savings plan to save as much unrestricted income as possible in the months preceding your wedding can help you to accumulate as little debt as possible. Saving coins and $1 bills in the months leading up to your wedding can add up too, perhaps contributing a decent down payment toward the honeymoon.

2- Talk to a representative at your financial institution. Many banks offer free advice to couples about budgeting, savings and purchasing a home. Inquire about a home equity loan to help cover wedding expenses. For engaged couples who may already own a home either individually or together, a home equity loan provides a flexible option for financing along with low interest rates.

3- Set a Realistic Budget. Be careful of hidden costs. Don't make the mistake of going over budget. Be prepared as a couple to compromise on many of the details. Consider using a combination of savings, paying out-of-pocket, home equity and credit cards to finance the cost.

4- Pay as you go in order not to incur debt. Even if you don't have a lot of excess cash, you can pay off many of the bills related to a wedding beforehand. Most vendors require a 50 percent deposit at the time that you place the order. this gets you halfway there from the start. And Remember, all cost are negotiable.

About this Author: Kelli Roethel has 5 years experience in the Health insurance industry as a Cobra specialist. She is owner, co-founder and Manager of the Life1010 program, which is designed to help individuals through a step-by-step process of getting their lives and businesses in order. The program focuses on emergency preparedness, creating an effective spending plan, health and wellness, and retirement planning. She has helped the business in creative aspects of social media and event planning.  Kelli as a part time stay at home mom enjoys helping others get their lives organized. Loves the joy of watching others realize how important it is to be 
prepared for life’s crazy ups and downs.

LIFE gets crazy sometimes.  Everyone needs a little R & R… but when & how?!?!?  Well, we have come up with a few tips that can help you relax even when LIFE is crazy! 

1.        Meditate – Take a break for 5 minutes and just clear you mind.  You might have to go into a quiet room and lock the door for that time. (Make sure the house won’t burn down and/or the kids won’t kill each other first)    It usually helps me if I set a timer so I know when to get up, I don’t have to keep on looking over at the clock to see if I am finished.  Now that the door is locked, the timer is set, try to clear your mind.   I mean really clear your mind.  Think about nothing.  I have to tell you that this was REALLY hard for me at first.  My mind is always racing, but if you stick with it you will be able to relax and that relaxation will come quicker each time you do this.   

2.       Breathe Deeply - Remember when you were a kid and your parents told you to count to 10 when you were throwing a tantrum?  Well this is kind of like that.  When you are stressed your body is throwing a tantrum.  Try breathing deeply in order to relieve some of that stress and see/think clearly.

3.       Focus on what you are doing – A lot of times in life we just go onto autopilot and don’t really focus on what we are doing.  One day you can de-stress is stop disengaging from life and be a part of it.  Focus on what you are doing so you can actually enjoy it. 

4.       Find a friend – We all need friends and one of the best ways to de-stress is to talk to a good friend.  Even if that friend is your dog… talk to them. 

5.       Laugh out loud – Just laugh.  Even if there is nothing to laugh about, try it and you will feel better.

6.       Turn on some soft music – Our bodies oftentimes follow or mimic the music that we listen to.  If we are listening to fast paced music then our bodies will work fast and we will move faster.  If we listen to soft relaxing music our bodies will move and work at that pace as well.  Pay attention to what kind of music you are listening to and make sure it the kind of music that will bring you peace.

7.       Exercise – When we are stressed we oftentimes need to release that stress.  Exercise is a perfect tool to accomplish that. 

8.       Be grateful – Create a gratitude journal.  Write down what you are grateful for and keep adding to the list.  You will be amazed at all of the good things in your life.




About this Author: De Kinsey is the co-owner/manager of LIFE 1010™.  She worked as a licensed residential and commercial escrow officer for over 5 years.  This experience helped her learn how to analyze and understand legal documents and translate them in a way the general public could understand.   De Graduated from Utah Valley University in Psychology and in Community Health Science.  She understands how a person’s psyche and personal health can have positive and/or negative impact on their LIFE and financial well being.  She brings this knowledge into the LIFE 1010™ program. 

The average person would likely tell you that the main reasons for purchasing life insurance are to replace income in case of early death, pay funeral expenses, and basically make sure that a beneficiary or family is not left destitute as a result of an unexpected death.

However, while these purposes are important, this type of thinking ignores the fact that that life insurance can also be an extremely effective way of preserving or even creating an estate, providing a tax-free benefit for heirs, or creating a tax-free source of funds that can be used to pay the estate taxes

If you are a parent without a large estate, but want to pass along a nice benefit to your children or grandchildren, a permanent life insurance policy can accomplish this.  It provides a guaranteed tax-free death benefit that can be divided cleanly amongst beneficiaries.  Likewise, if you are a parent with a decent sized estate, a life insurance policy can be an effective way to both maximize the inheritance and provide a tax-free source of funds to pay estate taxes in a quick manner.

In some cases, life insurance can also serve as an effective estate equalizer.  For example, many estates are comprised of assets that are not easily divided, or at least not agreeably divided.  For many families, the bulk of the estate is comprised of property.  Maybe one heir desires to preserve the asset while others would prefer cash instead.  Life insurance is a great way to equally divide the estate without finding ways to divide assets such as property or provide for joint ownership.

These are just a few common and basic uses of life insurance as an effective estate planning tool.  However, it is very underutilized mainly because most people are unaware that life insurance can and should be used for these purposes.

About the Author: Marc Roethel has over 7 years experience in the life and health insurance and retirement planning industries.  He is CEO and co-founder of the LIFE1010™ program, which is designed to help individuals through a step-by-step process of getting their lives and businesses in order.  The program focuses on emergency preparedness, creating an effective spending plan, health and wellness, and retirement planning.  He is also co-author of the book "Not Yo Mama's Retirement Plan", which takes a fun and easy to understand approach to a risk-free and tax-free solution to retirement that is proven and mostly unknown by the majority of the population.

“The proverbial pot of gold at the end of the rainbow is missing!  The financial world is in a mess!  It doesn’t make any sense.  Where is that d@mn leprechaun with my money!”

This is a direct quote from a new client I met with last week.  There were St Patty’s day decorations on the sliding glass door there in the kitchen and we joked about Irish booz (I don’t drink..never have) being the best part of  the “green holiday”.  Of course, I was there looking at their financial plan, and frankly, they weren’t in too bad of shape.  That didn’t mean Mike was happy though.  Too much in spending and debt (a nice little credit card he didn’t know about really made him happy.  Marriage is funny that way) and too big of a mess of the budget and what goes where and no real plan.  Mike was agitated!  Something not all that uncommon now-a-days. 

Mike is looking at being unemployed by the end of the year.  The shop where he works is going under and he’s trying to figure out how to get from here to retirement.  He’s a saver but Shelli isn’t, and he took a pretty good hit back in 2008 so he’s just now back to where he was then.  He’s not sure where to invest because he’s been reading http://www.cnbc.com/id/101418280  and he doesn’t have time to watch the market 24/7.

“Where’s the magical pot everyone talks about.  I’ve tried to be good and save, though we haven’t been perfect.  We’ve saved a lot.  I’ve been employed consistently until now, I’ve made some decent real estate investments (though, to be honest, they’ve used these gains to pay off debt or buy a toy or two more often than not) followed the buy and hold strategy, but then I read the other day about sequence of gains risk and the real effects of loss and all of a sudden I’m not so convinced that traditional planning works.”

Mike was citing  Ric Dalberri, founder of Retirement USA  and there are dozens of others out there who cite this statistic as well.  I’m not sure who the real source is, but if you look through all the statistics, it’s very apparent that the system is broken.  If you’re doing nothing about it, you’ll end up like 95 out of every 100 Americans who won’t have what they need at retirement.  Of course, there is always Social Security (we hope!) but actuarially speaking that won’t last another 20 years. 

The good news for Mike, and for you and me, is that there are things we can do to secure our pot of gold.  We don’t have to stay uneducated about what loss really does to us and our true returns, we don’t have to just act like we know what sequence of return risk means, we don’t have to put our faith in the greed of Wall Street.  We can take control and create a secure retirement.  We can learn things like how to pay our mortgage off in 2/3 the normal time with virtually no change to our budgets and spending habits, we can learn how to suck 2 times as much out of our retirement while protecting those funds from the fluctuations in the market, we can learn how to outdo Obamacare by building our own health insurance fortress (and save some money at the same time).   For Mike and Shelli, we’ve put them on the path to retirement freedom.  We’ve found that pot and it’s getting filled with gold as we speak.  They’ll be alright.  Now it’s your turn! 

Fill out the form below or call 1-855-876-5252 if you are interested in learning more.

 Here are some reasons why it is important to have an annual consultation with your financial and insurance advisor(s): 




1-The landscape of what is available in the insurance and financial industries is constantly changing and evolving.  It is important that you are aware of the cutting edge products in the industry that could be a significant upgrade from what you have and save you in premium dollars.  You may have an older product that is underperforming severely compared to other potential options, but you leave it simply because you are unaware of other options!  It is your advisors responsibility to make you aware of the best options for you on a continual basis!




2-A consultation goes a long way in keeping you informed and educated in your knowledge of how your policies work and why they are important now and in the future.  This gives you great peace of mind in understanding how you are protected and what your retirement will look like!  Most of us need a refresher every now and again so that we at least have a basic understanding of the concepts of how things work.  For example, I am not an expert on mortgages and how they work (because I don’t do mortgages for a living), but gain great peace of mind just by understanding the basics of how my mortgage is set up.  However, a lot of what I have learned recently may become very foggy in the months to come, and I will likely need a refresher on my mortgage after a while also!




3-You need to know that your advisor is still heavily involved in the business and therefore up to speed with all the current best products in the industry.  Many advisors are semi-retired or lower their activity level in the business after a time, and consequently are not up to speed on the new products available in the industry that may be a better fit for their clients.  It is very easy for advisors to fall behind if they are not careful!

Now that we have clarified what has been implemented to this point with health care reform, let's dive into some even deeper, murkier water, and explore what is to come in the near future.  Here is where the real hot button issues start coming into play!

1-Individual mandate-U.S. citizens and legal residents are required to have qualifying health insurance.  There is a phased-in tax (or penalty?) for those without coverage, with a few exemptions.

2-Pre-existing conditions eliminated-Individual and group health plans can no longer deny coverage or impose pre-existing exclusions for any person of any age.  This does not include grandfathered individual plans.  This provision is also known as guarantee issue.

3-Essential benefits-Individual and group plans must provide the essential benefits package, including coverage for hospitalization, emergency room, ambulatory patient services, maternity and newborn care, mental health and substance abuse, prescription drug, rehab, lab services, and preventive care.  Deductible will be limited to $2000 for individuals and $4000 for families in the small group market, although some proposed rules allow for some wiggle room there.

4-Rating restrictions-Insurance companies can no longer base premiums on health status, claims history, or gender.  The only factors allowing for rate increases are age, geography, family size, and tobacco use, which only allows a 50% increase.

5-Merged markets-the states are allowed to merge the individual and small groups if the state deems it appropriate.

6-Cost sharing limits-the out of pocket maximums are the same as those applicable to HSA plans under IRS code.  For 2014, the max is $6,050 for self only plans and $12,100 for family coverage.

7-Wellness programs-employers can offer employees rewards of up to 30%, potentially increasing to 50%, of the cost of coverage for participating in the wellness program and meeting certain health standards.

Well I hope this clarifies things a little.  If you are confused or concerned about what is to come, you are certainly not alone.  I recommend that you consult with a trusted advisor that is professionally required to keep updated on this constantly changing world of healthcare reform.  All of the above changes will begin implementation in 2014, but do not expect the storm to settle by then.  Different changes will continue to be phased in through 2017 and the insurance companies will continue to scramble to understand and follow the laws as they roll out.  The most important thing for us as individuals is to educate ourselves as much as possible in order to make the right decisions for ourselves, our families, and our businesses.  Despite all the turmoil and uncertainty, I am confident in a prosperous future provided that we make well-informed decisions and strive to live healthier lifestyles.

About this Author: Marc Roethel has roughly seven years experience in helping the self-employed and small business owners to obtain affordable health, life, accident, and disability insurance. He also help retirees to obtain quality medicare benefits, supplements, and final expense insurance. He currently has contracts with over 60 insurance companies, allowing him to access the best possible solutions for his clients. He also helps individuals and business owners in planning for a secure, long, and prosperous retirement.

One of the most controversial hot topics of our time is health care reform, also known as the Affordable Care Act (ACA) or Obamacare.  In my daily discussions with various people on the topic, I have heard a few other names for it that are inappropriate to print.  Regardless of what we call it or how we view it politically, it is essential that we become educated at least on some basic changes that will certainly affect us and our businesses in the near future.  Since none of us, not even our elected representatives, have the time or energy to read the bill in its entirety, many are frustrated and scrambling for answers.

So let’s discuss a cliff notes version of important changes that will help us feel like we at least have somewhat of a grasp on what is to come and what changes have already been implemented.

Some of the major changes that have already taken place are the following:

1 - Small business tax credits - The tax credit is 35% for business with 25 or fewer employees and average wages of less than $50,000.  This tax credit will increase to 50% in 2014 and full tax credits may be available to small businesses with fewer than 10 employees and average wages of less than $25,000.

2 - Dependent coverage to age 26 - This requires plans to offer dependent coverage until age 26 regardless of marital status.  This rule applied to all individual plans as  well as to new employer plans and grandfathered employer plans, unless the adult child has another offer of employer-based coverage.

3 - Lifetime and annual limits prohibited - Individual and group plans may not impose lifetime or annual limits on essential benefits.  Restricted annual limits do not apply to grandfathered individual plans.

4 - No preexisting conditions for children - Plans may no longer deny coverage to children under 19 for preexisting conditions.

5 - Preventive services without cost sharing - New policies must fully cover preventive care including immunizations, preventive care for infants, children, and adolescents, as well as preventive care for women.

6 - Medical loss ratio - Health plans must report the proportion of premium dollars that are used for all expenses and services.  Plans must provide rebates to customers if expenses do not reach 85% of premium for large groups and 80% for small groups and individuals.

7 - OTC drugs and spending accounts - Health savings accounts and flexible spending accounts may no longer be used to purchase over the counter medications unless prescribed by a doctor.  Increases tax for non-qualified HSA withdrawals from 10% to 20%.

If your head is not spinning yet or even if it is, please stay tuned for the next article in which I will discuss the changes that will be implemented in the very near future!

About this Author: Marc Roethel has roughly seven years experience in helping the self-employed and small business owners to obtain affordable health, life, accident, and disability insurance. He also help retirees to obtain quality medicare benefits, supplements, and final expense insurance. He currently has contracts with over 60 insurance companies, allowing him to access the best possible solutions for his clients. He also helps individuals and business owners in planning for a secure, long, and prosperous retirement.

This morning I was surfing the internet trying to find valuable information, when I came across this article from www.Townhall.com.  The article talks about the majority of Americans today living paycheck-to-paycheck and not preparing for their future.  It is sad to think that so many people are in bondage to their paycheck without any hope.  


We at LIFE 1010 are trying to give people hope and show them how they can escape from this trap and show them how they can provide a safety net for the future.  Hopefully you are not one of the 76% of Americans that are suffering from this bondage.  If you are, let me tell you that there is hope.  There is a way out, and we want to show you how.  


Please click on the link below and read the article.  If you still don't think you need help then you were educated a little more today.  If you need help and want a way out, please take the first step in securing your future and sign up for our program.  The road to freedom always begins with a single step.


http://townhall.com/tipsheet/katiepavlich/2013/06/24/wow-nearly-all-americans-living-paychecktopaycheck-n1626180

We've covered the basics of temporary or term life insurance.  Boring, I know, but not as annoying as that AFLAC duck.  I’m going to shoot that duck!!!   This week we want to take a moment and cover the basics of permanent life insurance.

It is a bit more complicated, but also has many great uses.  I doubt you’ve even heard of some of these uses, but they are so neat you may actually like life insurance by the time we’re done.  Maybe…

There are two basic types of permanent insurance: Whole Life and Universal Life.  Whole Life Insurance is set pretty well in stone at the time it is applied for.  In other words, the death benefit, premium payment schedule are set.  Universal Life Insurance, on the other hand, has neither a set premium nor death benefit.  Your premium is tied to your death benefit and there’s a lot of flexibility in a Universal Life policy.  

The strengths of a Whole Life policy are found in their consistency and guarantees.  The strengths of a Universal Live policy lies in it’s flexibility.  Both will cover you and provide a death benefit  for your lifetime as long as you pay the premiums.  If you remember, term life insurance only insures you for a certain set period of time.

One thing to note is that permanent life insurance is typically more costly than term insurance.  This is because of two reasons.  First, there is a permanent guarantee that the policy will pay your death benefit.  That guarantee means it’ll cost you more than just keeping the insurance company on the hook for 10 years on a term policy.  Chances are you may not die in the next ten years.  The second, and for me the neatest thing, is that permanent life policies can accumulate cash value.  Sometimes they accumulate cash value at an amazing rate.

This cash value in a whole life policy is based on an interest rate and sometimes there is an additional dividend paid on the policy that accelerates cash accumulation.  With universal life insurance cash can accumulate based on an interest rate, and interest rate that follows a market index like the S & P 500, or the cash value can actually be invested directly into the market.  You should note that the way your universal life policy accumulates cash value depends on the type of life insurance you purchased, so make sure your advisor knows what your needs and desires are with this policy so you get the right policy the first time.  I won’t elaborate in this article, but I am going to be bold enough to say that nobody should ever purchase a variable life insurance policy, the kind that invests you directly into the market.  If you want to know why, email me @ ed@life1010.info . 

Finally, let’s briefly look at the different ways you can use permanent insurance, so you can decide if it’s something that should be in your financial plan.  A quick list includes: estate planning, retirement savings plans, business planning, buy/sell agreements, deferred compensation plans, college funding, and more!

I am a big fan of permanent insurance, especially for it’s cash building potential.  Like any financial tool, you need to talk to an advisor to see if it’s the right fit.  You wouldn’t use a hammer to paint your house and you shouldn’t use permanent life insurance unless it fits your circumstances.  But chances are… it does.

Talk about a boring and morbid topic… or so I thought.  I was heavily recruited to sale insurance from the beginning of my career.  I thought “No way!”.  Nobody grows up dreaming of selling insurance.  Here I am now, though, and I love what I do.  

To clear up what I didn’t know before I changed careers, and what most people don’t know, here’s the basics of life insurance.  Take two minutes and get educated!

There are two basic types of life insurance: Permanent and Temporary.  Permanent life insurance has more variations so lets talk about temporary life insurance first.   I’ll talk about permanent life insurance next week. 

Temporary life insurance is most commonly called Term Life Insurance.  It only covers you for a certain time period.  Typical terms include 10, 15, 20, 25 and 30 years.  There is no cash value in the policies, so their benefit is limited to two things:  Peace of mind while you’re alive, knowing that your beneficiary, the person that gets your money if you die, is protected, and, of course, the death benefit if you die.  

Term life insurance is the least expensive type of insurance, since there is no cash value accumulation.  Because of this, virtually everyone should have at least some term life insurance.  It is very difficult to justify not having life insurance when the cost of term life is so low.

If you don’t have term life insurance and are wondering if you should, check out this list and see if any of them apply to you.  If one of them does, then you need life insurance!  

Here you go: 

• You have children who are minors 
• You wish to leave a legacy to your adult children
• You have a mortgage
• You’re not retired yet
• You want permanent life insurance but can’t afford it
• If you have a large amount of debt
• If you’re married
• And the list goes on. 
  

The short and simple truth is you need life insurance, and term life can be a great way to protect your loved ones.  

Tune in next week for permanent insurance and prepare to be amazed!!!  Really!