Replaced every smoke detector in our house. Supposed to do it every 10 years according to the directions from the manufacturer. It’s recommended that you change the backup battery in them twice a year. It’s definitely been more than 10 years since we built our house. Some of the batteries were marked that they had been changed 2 years ago (A couple of batteries had been changed just last year, so we were OK… we suppose.) We know they still worked because of some cooking incidents, but even so, THESE THINGS ARE IMPORTANT!
So how is this like your personal finances?
When was the last time you shopped your auto and homeowners/renters insurance? When was the last time you reviewed the asset allocation in your retirement accounts? When was the last time you looked at how much life insurance coverage you have, and what about the beneficiaries? When was the last time you reviewed your will? Do you even have a will? There are so many things that we should do, but may not have done in quite some time.
Important things don't always make themselves known
Many things that are important don’t have a big red flag, or an alarm, or a flashing red light, or waking you up chirping in the middle of the night; telling you they are important. If you don’t make the time to take care of these important items they might not be a problem, today. When will you need them though?
If you don’t stay on top of what’s important you might find out just how important it was, too late.
Making the effort is worth it
We may be financial coaches, but this doesn’t give us a free pass on personal finance. Having previously lived our financial lives just wandering around, we know the peace of mind these types of activities can bring. No, it’s not “fun” to review your insurance or update your will, but knowing you are acting responsibly with your money, and taking care of your loved ones brings a peace that can’t be replaced. To talk with us set up a free call.
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