“Difficult to see. Always in motion is the future.” Yoda
Yoda is on the money, the future tends to be different than what we expect. As a writer and advocate, my mission is to help people be financially prepared for any emergency. And while you can be prepared for an emergency, you can’t predict with certainty the type of emergency you will encounter or the resources you will need.
When you put together an emergency kit or a first aid kit, you hope you’ll never have to use it. But life is uncertain and things happen, and your emergency kit needs to be stocked with tools to address all types of situations. If you don’t have the right tools, you may not be able to deal with a specific situation.
With the Get Ready concept, my mission is to provide you with resources and tools so that you can be financially prepared now and in the future. If you are a member of the financial services community, I am here to help you prepare your clients.
Having a system to stay financially prepared is important which is why I’ve introduced the Get Ready Financial Calendar which is an easy to follow roadmap that consist of one action step per month. If you complete each action step, you will stay financially prepared.
This week, I was featured on KMEM”s Coffee Break morning radio show to discuss the Get Ready planner, why this is a good time to organize your finances and how this will help you be financially prepared. Here are the main points of the conversation:
- Why did I write Get Ready? I wrote Get Ready after seeing how people were unprepared after the hurricanes and wildfires of the last couple of years. Over my 30+ year career, I’ve also seen how many people are not prepared for when someone passes away. People don’t know where to find the records that they need or the necessary information to access accounts.
- Why is this a good time to organize your financial documents? It’s always a good time to prepare, and today is always the best day to get started. Life is so uncertain now, that it is even more important to make sure that you are financially prepared. Some of us have already had big changes in our lives or may be facing big changes in the near future.
- What are the benefits of centralizing your financial information? Organizing your financial documents will help you be able to find what you need, when you need it.
- You’ll have your information ready for filing taxes, applying for a loan or for your loved ones to step in, if you are unable to manage your financial affairs.
- It allows you to create a financial dashboard so that you can monitor your cash flow (income & expenses) and net worth (assets & liabilities). What information should you gather?
- What documents should you include?
- Personal documents such as birth certificates, marriage certificates, medical records and prescription information
- Financial documents such as bank statements, investment account statements, loan documents and insurance policies.
- How can you protect yourself in the event of unforeseen changes? By making sure that you have a financial safety net. You should have insurance for all of your potential risks including traditional insurance such as auto insurance, homeowners insurance and disability insurance. Consider also that an emergency fund is insurance in the event you have loss of income and retirement planning is insurance for your when you are no longer working.
- Why is it important to have a family communication plan? It’s important so that you can share your wishes, plans and goals. Communication allows your family to understand how your financial life works.
- Where can I find more information about organizing my finances during COVID-19 or any stressful time?
- My website has a wide range of resources to which I’m constantly adding articles, checklists, videos and more.
- By following the Get Ready Financial Calendar which is an easy to follow roadmap to complete one financial task per month to stay financially prepared.
- Stay educated about your finances. Keep learning. Ask questions.
Learn more about Get Ready!: A Step-By-Step Planner for Maintaining Your Financial Life (here).
Pre-order: Get Ready! (Expanded Edition): A Financial First Aid Kit on Indiegogo (here)