Category Archives: teens

Young Moms and Life Insurance

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Life insurance is a product which creates a lot of negative reactions until we really understand what it can do for those we leave behind.   It ranks right up there with other difficult subjects such as end- of -life documents (including wills) and the decision to purchase long term care insurance.

I know this happens because of my past experiences as an insurance agent,  broker, and financial advisor.  It wasn’t until I read the quote below did I find a way to show parents, spouses, and other family member what the real power of life insurance can be.  It’s not a technical conversation, it’s an emotional one.

The author  is unknown because this wonderful quote was one I wrote down when I saw it hanging in a frame on a wall in a bathroom.  It isn’t one I learned in the insurance licensing materials!  Over time it turned out to be the best education tool I have found to encourage people to consider their life insurance needs.  The quote is included in my book Financial Freedom Party for Women, A Little Book about Money for Women.

I hope it will help you reflect on your responsibilities to others.  If you are a young single mom with an infant or young children, you are included in that category.  Sometimes we forget to teach you the value of preparing for the future when just getting by day- to- day can be a challenge.  Life insurance and end-of-life decisions for moms aren’t restricted to certain ages or based on marital status.  These decisions are based on the needs of others.

Life Insurance
Peace of Mind for Turbulent Times

A life insurance policy is just a time-yellowed piece of paper with columns of figures and legal phrases, until it is baptized with a loved one’s tears. Then it becomes a modern miracle – Aladdin’s Lamp. It is food, clothing, shelter, and undying affection. It is the sincerest love-letter ever written.

It quiets the crying of a hungry baby in the night. It eases the aching heart of the one who remains behind – a comforting whisper, in the dark and silent hours. It is a new hope, fresh courage and strength to pick up broken threads and carry on. It is a college education for the son or daughter – a chance for a career instead of a need of a job. It is a parent’s blessing to a daughter on her wedding day.

Author Unknown

Not everyone needs life insurance.  However, everyone needs to consider this product and evaluate whether or not it fits their needs.

Sometimes people get confused and think the goal is to buy life insurance on the child.  The conversation we are having today is about purchasing a term life insurance policy on the life of the mom or other person responsible for the child.

Ask a licensed professional for help and keep it simple.  Sometimes your auto insurance carrier sells term life insurance.  There are insurance agencies in most towns that offer term insurance.  Ask around, you can do it!

 

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Before The Kardashians We Had Gloria, Bella, and Oprah!

This is a re-posting of an earlier blog.  Enjoy and please share!

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Today, while channel surfing, I was lucky enough to land on the HBO channel which was showing a documentary about Gloria Steinem.  Lucky because most of the attention on other channels was focused on current media favorites, the Kardashians.

I used to assume that most women know about Gloria Steinem, Ms. Magazine, Bella Abzug, and others in the women’s movement which gained momentum in the 1970s.  Whatever you may have felt, or still feel about this time of great change, the results of the efforts of Gloria Steinem and others around her have had a significant impact on the personal, professional, and financial lives of women.

Recently I have begun to wonder if the young women of today are being taught about powerful and successful women who have helped us to arrive at where we are today.  Have they heard the names of Gloria Steinem and Oprah Winfrey as often as they experience minute-by-minute reporting on the Kardashians?

Gloria Steinem is now in her late 70s and it is understandable that not all young women have studied much about her, yet.  However, I just assumed that everyone who is old enough to watch television or surf the internet would know about Oprah Winfrey.  Not true.  Recently I was visiting with a group of young women who are in high school.  I discovered they really don’t know who Oprah is, what she has accomplished, or even how rich she is.That is interesting since rich is usually something teens care about. This lack of awareness of Oprah was a big surprise.  Fortunately I have listened to Oprah’s story often enough to recite it to them.  After that, I started bringing a few copies of O Magazine so the students could learn more.  In another conversation, I discovered that each of them could immediately identify Kim Kardashian and knew all about the man in her life, Kanye West.  Major reality check for me!

It is exciting that the blogosphere allows the writer to reach out to people of many generations all over the world.  If you are reading this and find that you are clueless as to who Gloria Steinem is, or what she stands for, please just “google her” or even watch her story on HBO.  Perhaps you have only a passing understanding of Oprah Winfrey’s life and accomplishments. Once again, a quick google will teach you a lot. 

I am grateful we are no longer living in the times when Gloria and Oprah were starting out and leading their own special brand of change for women, but I do know it is important to understand the past to appreciate today!

Until next time.

Debra Hadsall

www.financialfreedomparty.com

www.ffptalk.com

Why Blog about the Financial Freedom Party for Women?

Knowing that many of you have joined my blog after earlier posts were created, I am going to do some re-blogging.  I ask you considering sharing these with the women in your life.  It is important that those of us who understand financial management share what we have learned with others.  During my financial advisory career I heard often from women who said “nobody ever taught me this”.  That is one of the reasons I created the Financial Freedom Party for Women.  Now is the time to teach our friends, children, and grandchildren.  If we don’t do it, who will? 

My book, Financial Freedom for Women, A Little Book about Money for Women, Workbook Edition, is now available at amazon.com.  Just click here.  Now you can just add a copy of the book to your Amazon orders!!! 

So, starting from the beginning we have some background into why I blog.  Just click here.

http://ffptalk.com/2010/05/14/why-blog-about-financial-freedom-party-for-women/

More to come and thanks for reading and sharing.

Debra Hadsall

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www.financialfreedomparty.com

www.ffptalk.com

Speaking Out for Financial Education for Young People

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As a financial advisor, I learned that most people are never taught the fundamentals of financial management. Some only learn from television or the Internet, which can be both good and bad.  Sometimes applying a broadcast approach to something which needs to be personalized isn’t helpful.

I know I learned basics from my parents, but the advanced topics like creating wealth through investing or really understanding life insurance, health insurance, and legal protection were concepts I learned along the way or through my college education because I majored in business and minored in economics.  Really, until I became a registered representative and learned how to teach others about financial management, I didn’t grasp the big picture.  When you teach others and market/sell products to them that help them meet their goals, you have to learn a lot first.  Of course the number of people in this country who chose to be advisors or brokers is just a small part of the overall population.  So who is teaching the rest of the population, particularly young people?

Recently I read a post about how we have lots of room to improve our education of youth about financial management.  Please click here to read the article.

Over the years , my friend Emily and I were asked to provide financial education to teens who attended our church.  Emily and I are more skilled in working with business leaders and executives, so we reached out to find materials appropriate for youth.  The materials we found at the National Endowment for Financial Education were absolutely the best.  They start with basics like where does my money go…or why is my first pay check so much smaller than what I expected…to insurance investing, goals, etc.  Everything we all need to know and understand, no matter our age.  To learn more please click here.  Currently I am using selected parts of these materials in a life skills mentoring program in a local high school.  Sometimes we need to teach young people in the manner they have been comfortable with in day-to-day living, sound bites.  Doing the whole book isn’t an option, but short sessions on topics works great.

The reason I created the Financial Freedom Party for Women and the corresponding book, and co-authored (with my friend Emily), First You Dream, A Financial Management Workbook, was to encourage learning and empower consumers.  As an advisor it was much easier to work with a potential client who understood the basics and felt more confident in her or his decisions.

As the saying goes, “you can be part of the problem or part of the solution”.  Getting to the solution requires us to acknowledge that it is a shared responsibility when it comes to financial management education for young people.

Until Next Time

Debra Hadsall

logownedy (2)

www.financialfreedomparty.com

www.ffptalk.com