Making the Right Calculations

When it comes to financially safeguarding yourself and your family, making the proper calculations is crucial. Many people, especially couples with young families, have quite a few concerns in regard to where to invest, how much to invest, and the best way to protect their family in the future. While this process can be time-consuming and taxing, working through these issues to plan for the future is vital when it comes to financial health. With this in mind, we have prepared a list of four essential calculators. These calculators all help to plan for future financial expenses and needs. Take a look at each calculator, its capacity, and then relate it back to the personal, financial connection to you and your family.

  1. Life Insurance Needs Calculator: the two primary questions that need to be answered through the use of this calculator are, “How much will be needed at death to meet immediate obligations?” and “How much future income is needed to sustain the household?” It is important to remember to answer each question to ensure a clear picture of the current and future financial needs is available.
  2. Human Life Value Calculator: understanding your financial value to those that love and depend on you is critical in planning for the future. This calculates human life’s economic value in its relation to other lives, as in any dependents and a spouse.
  3. Disability Needs Insurance Calculator: in the event of an unforeseen accident, preparing for financial security is imperative. This calculator assesses the current standard of living to prepare for a situation where a disability would hinder ongoing income. Planning in advance and setting aside funds is paramount to building a protected future.
  4. Lifetime Earnings Calculator: making predictions about the far-off future can be quite a daunting task. While this seems almost unnecessary, it is absolutely vital to make these estimations in order to prepare for the future. This calculator is an excellent representation of future career earnings over the course of many years.

The professionals at RBA Strategies, Inc. are prepared to help guide you down a path toward financial health and security. Call us today to learn more.

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