Health and Wealth: Keeping Pace
As you become more comfortable in your financial routine, you may have new responsibilities and obligations to consider. Have you become more established in your career? Have you started a new job? Have you recently come into an inheritance? Or do you have loved ones who now rely on you financially?
Enhance your regimen with the following:
Build a Team
It is important to gather a team of experts. Consider Financial Professionals, Attorneys, and Accountants as personal trainers who are there to help keep you on track with your financial goals.
Re-evaluate Your Savings and Emergency Fund
Without an emergency fund, unexpected costs can affect your financial wellbeing. As your income and financial obligations change, consider re-evaluating how much you are allocating towards your emergency fund/savings to cover any unexpected expenses.
Contribute to Employer Sponsored Savings Plans
Qualified retirement plans such as a 401(k) can be a very powerful savings tool. They provide employees with an automatic way to save for retirement and the possibility of employers matching contributions. If a 401(k) is not available to you, an Individual Retirement Account can offer similar benefits.
Protection Planning
Life insurance is an important purchase to consider. In addition to the death benefit it provides to your heirs, some policies offer a savings component that can be leveraged to cover future expenses such as college tuition, purchasing a new home or providing an additional income source in retirement.
Periodically reviewing your current and future obligations will help keep you on pace towards a healthy and secured financial future.
The information contained herein is general in nature, has been obtained from various sources believed to be reliable and is subject to changes in the Internal Revenue Code, as well as other areas of law. This material is for informational purposes only and should not be construed as a solicitation of any particular insurance product or insurance carrier. Insurance is sold through Oppenheimer Life Agency, Ltd. (OLA), an indirect wholly owned subsidiary of Oppenheimer Holdings. Before purchasing a policy of insurance, please review both the insurance carrier and the insurance policy carefully before investing. A strategic alliance exists between OLA and various outside providers whereby products and services may be utilized. Such providers may receive compensation as a result of the strategic alliance. However, the firms are completely independent of each other. This material is not a recommendation as defined in Regulation Best Interest adopted by the Securities and Exchange Commission. It is provided to you after you have received Form CRS, Regulation Best Interest disclosure and other materials. Oppenheimer & Co. Inc. Transacts Business on all Principal Exchanges and Member SIPC. 3827493.1