May 2016 | Page 83

than yourself, it helps you move away from fear-based “scare-city” thoughts and land solidly in the “prosperity zone.” An attitude of abundance will serve you well in all economies—especially challenging ones. LEAN ON YOUR TEAM DURING THE TOUGH TIMES One effective tactic to manage financial worry is to have people available to help you. We all spend time now and then worrying about things that never happen. It’s so easy to play out a scenario in your mind that has no basis in reality. Or perhaps it does—maybe there really is some cause for concern. Wouldn’t having a plan help in either situation? Regular financial check-ins with a professional advisor can help you stay connected with reality. You might have to try a few times to find the right assistance, but the right person is out there for you. PUT A SAFETY NET UNDER YOUR PLAN Some of the risk to your financial situation can be protected through the use of insurance. Whether the risk is that you or your partner might become ill, disabled, or die, or that something bad might happen to something you own, like a house or car, insurance can cushion the blow. Through paying premiums to your insurance companies, you are sharing the potential risk. you, or your insurance agent to get smart and to get secure that you have what you need. I know this isn’t a new idea for most of you. The basic types of insurance all play an essential role in protecting you and your family financially. These include life, health, disability, auto, home owner’s (or renter’s), umbrella liability, and longterm care. If you’re not wellcovered in any one of these areas, or if you don’t have plenty of assets to self-insure, I encourage you to rectify the situation immediately—there’s too much at stake not to. YOU DON’T HAVE TO BE RICH LIKE JED CLAMPETT TO NEED AN ESTATE PLAN If you are unclear of what you have, what it covers, or whether it’s adequate, ask for help. Contact your benefits department at work, the insurance companies who cover Being financially resilient means protecting not just yourself but also those you love, and an estate plan is one important way to do this. Estate plans are not just for the über-rich (if Jed Clampett means nothing to you, think Richie Rich or Tony Stark). The main purpose of having an estate plan is to make sure the people and causes that are important to you are provided for after you’re gone. Estate planning is fertile ground for procrastination— people drag their feet on this (understandably so), yet it’s so important for your loved ones. eydismedia.com 83