Your FINANCIAL Offense and Defense

Choose your starting

lineup…

Is your “team” ready for the big game? Being in good shape financially takes a lot of blocking, tackling, and offensive moves. Here are the key players in the lineup for your FINANCIAL Offense and Defense:

Offense

• Income

• Investments

• High Interest Savings

• Cash flow/Spending Plan

• Goal Planning

• HSA/FSA

Defense

• Life Insurance

• Will

• Emergency Fund

• Disability Coverage

• Property and Casualty Insurance

• Liability Coverage

You are the quarterback in your financial life, but you need some key players in place to succeed.

In your working years, your ability to create income is one of your greatest assets.  Don’t be afraid to negotiate your salary and look for growth opportunities in your career or business to gain some yardage.

Your offense Includes your investments (401ks, Roth IRAs, brokerage accounts, etc.) and high interest savings accounts.  Investing is how you make money in your sleep, fight inflation in the long run, and drive the ball down the field.

Having a spending plan to accomplish your short- and long-term goals, while managing the expenses of today is a key play call.

HSAs (Health Savings Accounts), FSAs (Flexible Spending Accounts), and Dependent CARE FSAs are on Special Teams to gain extra points and save taxes along the way.

Your Emergency Fund is your guard – covering you and your assets from taking a hit you can’t bounce back from.

Insurance is like your linebackers – crushing obstacles as they come your way.  You need to make sure you have coverage on your property, but most importantly, coverage on your LIFE.

A Will and Estate Plan is what protects your team in case you are out for the season or on Injured Reserve.

Work with a financial coach (planner) to keep moving your ball down the financial field in your financial game, so you can score big! 

By Jamie Bosse, CFP®