(ARA) - The recession has altered the way individuals and families think about money and financial security. As Americans begin the slow process of economic recovery, former lifestyle expectations, spending habits and financial plans need a closer look.
2010 will be a year when many Americans will redefine what it means to be financially comfortable. Affluence will be determined by attaining a lifestyle that is right for you and your family, rather than dictated by a society bent on living "bigger/better/faster." In essence, the rules have changed.
You'll look for new ways to protect what you have and make prudent money decisions in the future. You'll seek more safety, simplicity and predictability in your financial life.
Safety involves opting for financial strategies that will protect your financial future, even if they require lower investment returns or higher costs. Examples of this include guaranteed investments and insurance coverage that protects against unexpected illness, or death.
During the halcyon days of skyrocketing stock prices and housing values, many people took their chances with nontraditional mortgages and complex investments like hedge funds and risky bonds that were available to the average investor. In the future, smart consumers will prefer more simplicity in their financial lives - selecting financial products they understand.
Americans will also seek more predictability in their financial future. There are plenty of ways to achieve this, including automatic savings plans, fixed-rate mortgages and exchange-traded funds.
As you plan your financial life in the new year, you can let safety, simplicity and predictability be your guide. But you don't have to go it alone.
On Jan. 14, 2010, at 12:30 p.m. Eastern Standard Time, you can participate in a free 30-minute webinar on "
Ten for '10: Ten Smart Money Strategies for 2010." Sponsored by
The Savings Bank Life Insurance Company of Massachusetts, www.sbli.com and presented by well-known financial commentator and planner Jonathan Pond, the webinar's goal is to help you improve your finances in a changed economy.
Topics discussed will include ways to alter your lifestyle without feeling deprived, eliminating nonessential debt, balancing your portfolio with secure investments, protecting your family against the unexpected with life insurance and ideas for strengthening your financial future as you make the most of the economic recovery to come. To register for this free webinar or to view it afterwards, visit www.
sbli.com.
Courtesy of ARAcontent
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EDITOR'S NOTE:
Jonathan Pond, known as "America's Financial Planner," is one of America's most trusted and knowledgeable financial experts and a pioneer in bringing low-cost personalized money guidance to American households. As an objective and entertaining observer of the financial planning scene, Pond has appeared on network and cable television, including CNN and NBC's Today Show. His 16 public television specials and 11 books have been critically acclaimed for their effectiveness in providing useful and understandable financial guidance to people of all financial circumstances. Pond is a paid spokesperson for SBLI.
About SBLI
SBLI, Savings Bank Life Insurance was established in Massachusetts in 1907 and has its headquarters in Woburn, Mass. SBLI sells its products in more than 30 states and dominates in issuing insurance coverage and policies in its home state of Massachusetts. SBLI offers affordable term life insurance, in addition to whole life and fixed annuities. SBLI's insurance professionals can help customers assess their needs, determine the amount and type of insurance needed, and answer questions customers may have. To learn more about SBLI, visit www.sbli.com or call (888) GET-SBLI.
