By Stan & Shannah Compton
In these financial turbulent times it takes better focus and effort to keep one’s business running profitably due to all the challenges regarding the current financial crisis. It seems like every day there is a new twist and turn in the economy which has everyone guessing just what exactly lies ahead. For a business owner these challenges complicate the already challenging normal business activities.
When times are tough the worst thing that can happen to you is that you become sick or hurt to the point where you cannot work in your business and/or profession and do not have adequate replacement income.
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I recommend that you review your life insurance every year. In today’s economy it is even more important to take a couple minutes and review your needs. Think of it as a checkup. Just like your annual doctor and dentist check up, it’s preventive medicine to help maintain your family’s financial security. The main reason to do this is that needs change over time, sometimes more rapidly than you might realize.
This review is a painless process. Simply check all that apply below. If you have at least one item checked contact your financial professional and discuss them. If you have no items checked you are in good shape for the upcoming year, however if something should change, make sure you take the time and address the changes.
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By Shannah L. Compton
1. Give away your frequent flier miles as a gift: Many of us have a lot of airline miles but can’t travel due to work or just don’t have the budget to right now. Be sure to check your miles frequently as they do expire. If they are expiring soon give them as a gift to a family member who might use them. They make a great wedding gift!
2. Use your frequent flier miles to buy gifts from an online store: Many frequent flier programs also offer the chance to use your miles to purchase gifts from stores like Amazon, Gap, Macy’s, Barnes and Noble, etc.
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Beginning in November I will be launching a new podcast series to bring you exciting financial topics, strategies, guests and much more. But I want to hear from you. What is on your mind? What topics would you like to know more about? Are you worried about your retirement? Would you like to know about small business financial strategies? I want to hear from you!
Email me your topic suggestions by October 31st and receive a copy of my “Financial Document Organizational System” worksheet.
shannah@slcinsuranceservice.com
By Shannah Compton
Traditionally September is a great month. The seasons begin to change. The weather begins to shift. Kids are back in school and mom can finally get a reprieve. Stores are all a glow with Halloween decorations. And you can finally pull out your tall boots, cute sweaters, and great fall jackets. However, this September, September 2008, will forever be known as the month when America’s economy took a turn for the worse and panic began to paralyze us all.
It probably wasn’t until a week or so ago that you really became aware of how perilous our economic conditions are in the country. One day, out of the blue, you saw it everywhere. “We are in a depression. It is Armageddon.” You heard about the $700 Billion Bailout everywhere. You heard about the 777 point stock decline; the biggest one day Dow point drop in history. Maybe you took a look at your 401K or IRA balance and wanted to cry. If anything I hope the recent inescapable news, radio, and press coverage of our economy has you curious for some answers.
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