The last two years have been a rough ride. As a reminder for 2022, if you haven’t taken the time to sit down and organize your family’s finances, there is no better time than now to develop new habits and get your year off to a running start. These are the necessary steps to take.
Find a Financial Planner. A financial planner will help walk through the whole process. It is important to work with a financial planner who works with people similar to you. Going on the internet and searching names is probably not the most effective way because you never know what you are going to get. Asking for referrals from friends or family is a great way to go. You know the financial planner has done a good job for them, which automatically creates trust and credibility. Remember, there are many options. Speak to a few people and see who would be a good fit for you and your family.
Meet With a Financial Planner. The first step is establishing your financial goals. The financial planner will ask: “What are the financial goals that you want to achieve? What are your dreams?” Without setting goals, it makes it impossible to achieve them. A goal a client may have is, “I want to send my children to school.” So, right away I need to know what that means. Does it mean you’re paying for all their tuition, or just part of it? A client may also say they want to save to purchase a home and need 20% down. Well, what type of home are you looking for, and in what price range? A financial planner will probe and dig deeper to get those answers.
How Do We Get There? Your goals must be written down. When you begin to work towards these goals, budgeting becomes a vital part of this process. As a family, it‘s about sitting down and looking at your monthly cash flows. This is a basic practice that every family and household must to be doing. You need to know what your budget is, to ensure you are not living outside of your means. Which means, you have enough money coming in to pay for the expenses going out. It doesn’t matter if you are a billionaire or if you’re making $20,000 a year on a side job, if you are spending more money than you’re bringing in, you are going to find yourself in debt.
Budgeting is Easier Than You Think. People tend to overcomplicate budgeting. Remember, budgeting is not one-and-done, it needs to be done on a regular ongoing basis. How much you spend on food or utilities varies from month to month, so you want to figure out on average how much you are spending. Once you start the process and go year-over-year, you really understand your spending. The same “average” holds true for how much money you are bringing in, because that might change from month to month depending on your job or career.
Realize Your Debt. When working through budgeting, you will realize your debt. Now, you can work toward paying off your debt, as well as saving money for the future. People say, “I can’t save money, I need to pay off my debt first.” This should not be an all-or-nothing thing; it should be more of a balancing act. You want to be paying off your debt while you are saving for the future, because you don’t want to miss the early earning years in your career. Time is your friend when it comes to saving and investing.
Have an Emergency Fund. If your hot water tank blows up, you need to replace it right away. You want to ensure you have cash immediately on hand, avoiding the I have to use my credit card. Or, if you lost your job, you want to have cash set aside to cover your expenses. If you are in a two-income household, the rule of thumb is to have three months of expenses saved as cash. In a one-income household, you want to have six months’ worth. Many people lost their jobs during the pandemic, and having cash would have helped them to get through. As we’re saving for the future, we want to make sure we’re saving for the emergencies that can happen today. That needs to be a top priority.
Long-Term Saving. We’re saving for our immediate expenses and now we need to be thinking long-term saving for our retirements. This includes saving for our children. If you will be sending them to school, starting a 529 Plan for their college expenses makes sense. Or, if you plan to send them to private school for K-12 education, a 529 Plan can also be used for that. Working with a financial planner on what your goal is for your child’s education and future is as important as working on your investment planning. The sooner you start the better. I’ll get more into detail about 529 Plans in an upcoming article.
Term Insurance. Term insurance is used in case something happens to the primary breadwinner. You want to make sure your spouse is protected. What happens if the breadwinner passes away unexpectedly? Term insurance is great coverage to protect your family financially in those unforeseen situations. Working with your financial planner, and walking through these steps, you’ll know how much coverage needs to be there and for how long to protect your family to be financially secure now and in the future.
As a CERTIFIED FINANCIAL PLANNER™ practitioner and a Certified Personal Finance Counselor® professional with the Weber Group at Hefren-Tillotson, I have outlined these simple steps to protect you, your family, and your future. I stress the need for education because, as a former educator, I believe making informed and educated decisions about one’s financial life is just as important in one’s medical life. If you have concerns about getting your family’s financial future in order, please contact me as I would be glad to help.
How to Create a Home InventoryA home inventory can expedite insurance claims process after theft, damage or loss.Imagine needing to list every possession in your home or apartment, along with each item's worth after your belongings have been stolen or destroyed in a tornado, wildfire or other natural disaster. That task may seem impossible, so it is best to make the list before you need it. Below we've answered your basic questions on why and how you should create a home inventory.Why do I need an inventory of my home or apartment?A home inventory is an excellent way to help make home insurance and renters insurance coverage decisions and expedite the insurance claims process after theft, damage or loss. This record of your insurable assets will not only help you in the settlement of a covered loss or claim but may also help verify tax-deductible property losses and determine the right amount of insurance coverage you need.How do I create a home inventory?The first step is to decide on what type of inventory would be easiest for you to create. A home inventory can be as simple as a list of all your possessions or a visual record for each item, but an effective home inventory should include both for added security. Today, there are even digital tools to help simplify the process of maintaining the list.A written inventory: A comprehensive home inventory list catalogs your belongings and should include the item description (make, model and serial number, if applicable), value and purchase date. You can create your own list using a spreadsheet or fill out a home inventory checklist that's ready to go.A digital inventory: If you have an iPhone or Android phone, there are apps that can be downloaded to your phone, some of which are free. These mobile home inventory apps allow you to record a photograph of the item along with the description, value and purchase date.A visual record: A visual record of your possessions shows proof of ownership. This can be accomplished with a video walk-through of your home or through a series of photographs.Once you decide on the type of home inventory you want to create, according to the Insurance Information Institute, there are some simple steps you can take to start the process. Don't forget to include the items in your basement, attic, garage and any detached structures, such as tool sheds. Also, pay special attention to your most valuable possessions, such as antiques, art, jewelry, collectibles and electronic equipment. If you have any questions about which items are covered by your policy, contact your insurance agent.Record possessions as you pack to move into a new place: When moving to a new apartment or home, take a couple of extra minutes to record the belongings in each room.Pick one area at a time to record: You can start with a hall closet or small kitchen cabinet. Then, after capturing your belongings in that room, move on to the next.Record each item as you redecorate: Whether you are redecorating your apartment or a room, note each purchase you make and save the receipts. It will give you a jump start on your home inventory.Record recent purchases: Get into the habit of recording new purchases. Then, as necessary, go back and record your older, undocumented possessions. Along with the record, be sure to store sales receipts and appraisals (including the appraiser's name and address) to help verify the value of each item.Record important information: Provide a general description, where you bought it, the make and model, and what you paid for the item. Include the serial number if the item has one.Record the number of each clothing type: List, for example, "five pairs of jeans, three pairs of sneakers" Make note of items that are especially valuable.Include stored items as well: Things kept in your basement, attic, garage and other detached structures may not be at the top of your mind; however, you should record those items as well. If you have items in a self-storage unit, make sure to include them as they are usually covered under your home insurance policy.Use technology to create your digital home inventory.Take pictures. Capture important individual items as well as entire rooms, closets or drawers. Label your photos with what's pictured, where you bought it, the make or model and the serial number.Take video. Walk through your house or apartment recording and describing the contents. For example, you might describe the contents of a kitchen cabinet: "Poppies on Blue by Lenox, service for 12 that includes a dinner plate, salad plate, bowl, cup and saucer, purchased in 2015."Use an app. There are many mobile app options that can help you create and store a room-by-room record of your belongings.How should I store my home inventory?Don't let your home inventory become part of a property loss. Whichever inventory method you choose, it's important to keep a copy in a fireproof safe, safety deposit box or digitally in the cloud. You can even email your inventory to your insurance agent. Sending the list has the added value of allowing your inventory to be examined by your agent to see if you need extra home or renters coverage or to add a Personal Articles Insurance policy. If you need information about homeowners, rental, and auto insurance, call a Five Star Rated Agent: Laurel Flowers State Farm Insurance Agent at 251-675-4736.
There are plenty of reasons for family members to take care of aging or disabled loved ones. The role can be rewarding, bringing people closer to the people they love and allowing them to tailor care to their personal needs and preferences. But even the most dedicated family caregivers need a break to focus on their own well-being, especially around the busy holiday season. Thats where respite care comes in.Despite the fact that 1 out of every 5 Americans acts as a caregiver to a loved one, only 15% take advantage of respite care services available to them. Respite care can create better outcomes for caregivers and their loved ones alike. It gives family members time to rest and recharge so they can come back to the role with fresh eyes and renewed spirit.But what is respite care, and is it right for you? Lets take a look at the many benefits of hiring a home care agency to give you a helping hand when you need it.What is In-Home Respite Care?In-home respite care is a form of temporary relief from the responsibilities of caretaking. You get to set the termsit could mean hiring a professional aide for an afternoon, for several weeks, or anything in between. At ComForCare, our highly trained staff can come to your loved ones home to perform many of the duties you provide on a daily basis, including:Preparing meals and helping them eatHelping them groom, bathe, and dressProviding medication remindersGrocery shopping, picking up medications, and related errandsCoordinating care and transporting them to and from doctor appointmentsLight housekeepingUnlike adult day-care centers or respite care facilities, in-home care reduces the stress on your loved one by bringing care to them. They get to stay in their familiar environment with minimal disruption to their routineand you get a break to focus on your needs.Benefits of Respite CareManage Stress & Ward Off BurnoutOver half of family caregivers in an AARP survey reported that they experience moderate to high levels of stress related to their roles responsibilities. Combined with the added pressures of the holiday season, the winter months can quickly lead to burnout for those taking care of loved ones. Respite care gives you room to breathe, just like taking time off work. After all, though it can be deeply rewarding, caretaking is a form of labor. Working so hard without rest can take a serious toll on your mental health, which in turn can affect your ability to care for your loved one.Reduce Health Risks for Your Loved OneWhen were burnt out, busy, or bustling around more than usual, we can overlook important signs of illness or disease progression. Were only human, and can only focus on so many things at once. ComForCares home aides are specially trained to watch for warning signs that your loved one needs medical intervention or additional help. They can also provide you with a fresh perspective after months or even years of seeing your loved one every day.This is especially true if your loved one has recently suffered an injury or had a medical procedure. Temporary respite care during their recovery can reduce the risk of infection and rehospitalization. Its a way to optimize their healing process while taking some time to focus on your health, too.Find Support & a Social NetworkBetween 40% and 70% of family caregivers struggle with feelings of depression, often compounded or caused by isolation and loneliness. During this time of the year when were supposed to be celebrating togetherness, that struggle can begin to feel unmanageable. Not enough caregivers realize that there are support groups for people just like them, where they can come together, socialize, and share their experiences. Home care agencies like ComForCare can connect you with those resources.We do everything in our power to take care of our clientsand that means helping family caregivers just as much as it means assisting their loved ones with their daily needs. We have a wealth of knowledge about mental health resources and support systems, and were glad to share those with you while we give you a helping hand. Respite Care Isnt SelfishIts a GiftOne of the biggest hurdles to self-care can be feelings of guilt. Its easy to see taking time for yourself as a selfish act. But the reality is, taking a break is a gift to your loved one, too. Whether all you need is a day alone to catch up on errands or a week to take your first vacation in years, youll return as a more resilient, more compassionate, and more capable caregiver.At ComForCare, all of our employees are background checked, highly trained, and vetted for a passion for treating all their clients with dignity and respect. Whether they meet your loved one only once or on a regular basis, theyll provide the highest level of care so you can rest easy. To learn more about our work and find a schedule that will fit into your life and your budget, get in touch with us today!
Benefits of Senior Care at HomeAs we grow older, our needs change, and sometimes we require a little extra help to maintain our quality of life. Senior care at home has become an increasingly popular option for many families, offering numerous benefits that cater to the unique needs of older adults. Let's explore why this type of care can be so valuable for our loved ones.Comfort and FamiliarityOne of the greatest advantages of senior care at home is the ability to remain in a familiar environment. For many older adults, their home is filled with cherished memories and provides a sense of comfort that cannot be replicated elsewhere. Staying at home can help reduce stress and anxiety, which is particularly important for those dealing with memory issues or cognitive decline.Personalized CareEvery individual has unique needs, and senior care at home allows for a tailored approach to meet these specific requirements. Whether it's assistance with daily tasks, medication management, or specialized care for conditions like dementia, a personalized care plan ensures that your loved one receives the exact support they need.Companionship and Social InteractionLoneliness and social isolation can have serious negative effects on an older person's health and well-being. In-home caregivers not only provide practical assistance but also offer much-needed companionship. They can engage in conversations, share activities, and provide a friendly face to look forward to each day.Maintaining IndependenceMany older adults fear losing their independence as they age. Senior care at home allows them to maintain a sense of control over their lives while receiving necessary support. Caregivers can assist with tasks that have become challenging, enabling seniors to continue living life on their own terms.Family InvolvementHome care encourages family involvement in the caregiving process. This collaborative approach ensures that the family remains an integral part of the support system, promoting a holistic and well-rounded care experience.Flexible Care OptionsAs needs change over time, in-home care can be adjusted accordingly. Whether it's increasing the level of support or adding specialized services, the flexibility of home care allows for seamless transitions without the need for a major upheaval in your loved one's life.Peace of Mind for FamiliesKnowing that a trained professional is caring for your loved one can provide immense peace of mind for family members. This is especially true for those who live far away or have demanding work schedules that make it difficult to provide regular care themselves.Cost-Effective CareIn many cases, in-home care can be more cost-effective than moving to a residential facility, especially if 24/7 care is not required. It allows families to pay only for the services needed rather than a comprehensive package that may include unnecessary amenities.Promoting Overall Well-beingSenior care at home goes beyond just meeting physical needs. It encompasses emotional and mental well-being too. Caregivers can encourage seniors to stay active, engage in hobbies, and maintain social connections, all of which contribute to a higher quality of life.Specialized Care for Unique NeedsFor seniors with specific health conditions, such as Alzheimer's or Parkinson's disease, in-home care can provide specialized support tailored to these unique challenges. Caregivers trained in these areas can offer expert assistance and help manage symptoms effectively.Remember, growing older doesn't mean giving up on the joys of life. With the right support, seniors can continue to thrive in the comfort of their own homes, maintaining their independence while receiving the care they need. It's not just about adding years to life but adding life to years. Quality Care You Can TrustWith over a decade of experience and a team led by a registered nurse, you can trust that your loved one is in good hands with Rita's Home Care. We are passionate about helping those in need and ensuring they receive the best care possible, just as we would for our own family members.Whether you need traditional home care services for an elderly loved one, specialized dementia care support, or end-of-life care, our team is trained and equipped to handle it all. We understand that every individual has unique needs, which is why we offer personalized care plans to ensure your loved one receives the specific support they need to thrive.
Your financial goals, aspirations and investment needs are just that yours. And your financial plan should reflect that. So rather than ask you to settle for an off-the-shelf investment program, Weber Group at Raymond James is here to provide you with personalized financial planning based on your goals, your time frame and your particular tolerance for risk.We can provide you with just the right combination of financial services, support and guidance that make the most sense for you. Well also be there to help you each step of the way in the pursuit of your personal financial goals.Theres more to your financial life than just investments. Comprehensive planning encompasses an in-depth review and analysis of all aspects of your financial life to help you see the big picture and enable us to personalize a plan for addressing every detail.Our principal belief is that everything begins with a well-designed financial plan. Were highly adept at seeing the big picture of your financial life, and then addressing all the details that make the plan work including identifying and resolving any gaps that may have previously been overlooked.At Raymond James, we have a straightforward approach to doing business. We believe that putting clients needs first is the best way to ensure their success and, in turn, the long-term success of our advisors and the company. We call this our Service 1stSM philosophy. With our strong focus on clients and our commitment to supporting those who serve them, weve become known as the premier alternative to Wall Street, providing the products, services and support of even the largest firms, within an environment that values strong, personal relationships.Raymond James focuses on doing what's right for its clients, associates and communities. And as you'll find in the firm's Corporate Responsibility Report, this commitment drives our mission to build a more sustainable future for all through environmental, social and governance best practices.Sticking to our core principles of client first, conservatism, independence and integrity, Raymond James has steadily grown to become one of the largest independent financial services firms in the industry, but our core values ensure well never be so big that we dont have time for what matters most: you and your family.The markets change, but our values will always be the same. Client first is at our core, supported by conservatism, independence and integrity.Erin Weber is a vice president of investments with Raymond James, for the office in Cranberry, Pennsylvania. She is a founding partner of the Weber Group, a team within a team approach, at Raymond James. Erin works alongside her father, Senior Vice President of Investments Al Weber. Along with assistant, Katie Burr, the team strives to give clients a comprehensive investment experience by providing a high level of service, through shared expertise, for the individual and institution. With over 30 years of financial experience, there is a strong likelihood the team has interacted or worked with someone in a situation very similar to yours.She holds both bachelors and masters degrees from The Pennsylvania State University, along with the Series 7 and 66 securities licenses. Erin is a licensed agent for life, accident and health insurance. She has her Executive Certificate in Financial Planning from Duquesne University and is a CERTIFIED FINANCIAL PLANNER practitioner. Erin also is a Certified Personal Finance Counselor professional and a member of the Financial Planning Association. She has presented at international, national and state conferences in the field of education and co-authored multiple papers in the area of maximizing educator effectiveness. Based on her background in educational innovations, Erin strongly believes that she can best assist individuals and families by helping them understand the concept and elements of financial planning.Erin is advisory board president of Pennsylvania State University, New Kensington, and has mentored professionals and students from multiple universities. She is guiding several initiatives to help women and college students become financially literate and is the Vice Chairman of the Center for Financial Literacy at Penn State Behrend. Erin is a member of the Womens Leadership Council for the United Way, and volunteers at The Center for Women, Pennsylvania Women Work and Strong Women, Strong Girls. Because of her significant involvement in helping and mentoring women, she was a 2020 ATHENA Award nominee.She is very active in the area of physical fitness and won an international video contest promoting a healthy lifestyle. Erin also enjoys golfing and is a life-long resident of the Pittsburgh area, currently residing in Wexford, Pennsylvania.
Your financial goals, aspirations and investment needs are just that yours. And your financial plan should reflect that. So rather than ask you to settle for an off-the-shelf investment program, Weber Group at Raymond James is here to provide you with personalized financial planning based on your goals, your time frame and your particular tolerance for risk.We can provide you with just the right combination of financial services, support and guidance that make the most sense for you. Well also be there to help you each step of the way in the pursuit of your personal financial goals.Theres more to your financial life than just investments. Comprehensive planning encompasses an in-depth review and analysis of all aspects of your financial life to help you see the big picture and enable us to personalize a plan for addressing every detail.Our principal belief is that everything begins with a well-designed financial plan. Were highly adept at seeing the big picture of your financial life, and then addressing all the details that make the plan work including identifying and resolving any gaps that may have previously been overlooked.At Raymond James, we have a straightforward approach to doing business. We believe that putting clients needs first is the best way to ensure their success and, in turn, the long-term success of our advisors and the company. We call this our Service 1stSM philosophy. With our strong focus on clients and our commitment to supporting those who serve them, weve become known as the premier alternative to Wall Street, providing the products, services and support of even the largest firms, within an environment that values strong, personal relationships.Raymond James focuses on doing what's right for its clients, associates and communities. And as you'll find in the firm's Corporate Responsibility Report, this commitment drives our mission to build a more sustainable future for all through environmental, social and governance best practices.Sticking to our core principles of client first, conservatism, independence and integrity, Raymond James has steadily grown to become one of the largest independent financial services firms in the industry, but our core values ensure well never be so big that we dont have time for what matters most: you and your family.The markets change, but our values will always be the same. Client first is at our core, supported by conservatism, independence and integrity.Erin Weber is a vice president of investments with Raymond James, for the office in Cranberry, Pennsylvania. She is a founding partner of the Weber Group, a team within a team approach, at Raymond James. Erin works alongside her father, Senior Vice President of Investments Al Weber. Along with assistant, Katie Burr, the team strives to give clients a comprehensive investment experience by providing a high level of service, through shared expertise, for the individual and institution. With over 30 years of financial experience, there is a strong likelihood the team has interacted or worked with someone in a situation very similar to yours.She holds both bachelors and masters degrees from The Pennsylvania State University, along with the Series 7 and 66 securities licenses. Erin is a licensed agent for life, accident and health insurance. She has her Executive Certificate in Financial Planning from Duquesne University and is a CERTIFIED FINANCIAL PLANNER practitioner. Erin also is a Certified Personal Finance Counselor professional and a member of the Financial Planning Association. She has presented at international, national and state conferences in the field of education and co-authored multiple papers in the area of maximizing educator effectiveness. Based on her background in educational innovations, Erin strongly believes that she can best assist individuals and families by helping them understand the concept and elements of financial planning.Erin is advisory board president of Pennsylvania State University, New Kensington, and has mentored professionals and students from multiple universities. She is guiding several initiatives to help women and college students become financially literate and is the Vice Chairman of the Center for Financial Literacy at Penn State Behrend. Erin is a member of the Womens Leadership Council for the United Way, and volunteers at The Center for Women, Pennsylvania Women Work and Strong Women, Strong Girls. Because of her significant involvement in helping and mentoring women, she was a 2020 ATHENA Award nominee.She is very active in the area of physical fitness and won an international video contest promoting a healthy lifestyle. Erin also enjoys golfing and is a life-long resident of the Pittsburgh area, currently residing in Wexford, Pennsylvania.