Page 14 - Martin Downs Bulletin - December '19

Page 14, Martin Downs

FinanCial FoCus

Millennials May Need To more pressing financial needs, such as paying off your student What type of life insurance should I get? Many people
initially find life insurance to be confusing, but there are
loans. But if you’re an older millennial, and you’ve got a
Boost Life Insurance mortgage, a spouse and – especially – children, then you basically two types: term and permanent. As its name
unquestionably need insurance, because you’ve got a lot to suggests, term insurance covers a given time period, such
By Bryce Buchanan, protect. as 10 or 15 years, and provides only a death benefit. It’s
Edward Jones How much do I need? Millennials who own life insurance generally quite affordable, especially when you’re young
If you’re a millennial have, on average, $100,000 in coverage, according to New and healthy. Permanent insurance, on the other hand, offers
– born between 1981 and York Life’s 2018 Life Insurance Gap Survey. But that same a death benefit and a savings component that allows you to
1996 – you’re either in the survey found that millennials themselves reported they build cash value. Consequently, the premiums are higher
very early or relatively early need coverage worth about $450,000, leaving an insurance than those of term insurance. Again, a financial professional
stages of your career, and as deficit of approximately $350,000. That’s a pretty big can help you determine which type of insurance is most
the old song goes, you’ve got gap, but of course, these figures are averages and may not appropriate for your needs.
a lot of living to do. Still, it’s apply to your situation. Still, you should know how much Thus far, we’ve only been talking about life insurance. But
not too soon to think about a insurance you require. You might have heard that you need you may also need other types of protection, such as disability
financial issue you may have life insurance worth about seven or eight times your annual insurance, which can replace part of your income should you
overlooked: the need for life salary. And while this isn’t a terrible estimate, it doesn’t apply become ill or incapacitated. And you may eventually want to
insurance. to everyone, because everyone’s situation is different. A explore long-term care insurance, which can help cover you
Regarding this topic, millennials need to ask three key financial professional can look at various factors – your age, for the enormous costs of an extended nursing home stay.
questions: your marital status, number of children, size of mortgage, You should at least consider all forms of insurance as part
When should I purchase insurance? The answer to this etc. – to help you arrive at an appropriate level of coverage. of your overall financial strategy. The future is unknowable
question depends somewhat on your stage of millennial-ism. Keep in mind, also, that your employer may offer life – and as a millennial, you’ve got plenty of future ahead of
If you’re a young millennial, perhaps just out of college, insurance as an employee benefit. However, it might be you.
single, and living in an apartment, your need for life insurance insufficient for your needs, especially if you have a family, This article was written by Edward Jones for use by your
may not be that great. After all, you may well have other, and it will probably end if you leave your job. local Edward Jones financial advisor.
real estate

Treasure Coast Real Estate Bridge nearby. The width of the channel would also increase the Martin County Artificial Reef Fund, get involved.
Report from 50 feet to 180 feet, making it much easier to navigate. Construction of the new bridge is expected to start in
Presently it looks like the local county governments and
2025, so now might be a good time to start figuring out
The Old Florida East Coast Railway Train marine industry are in support of the new bridge. Everyone where to get the funds to finally put this old bridge to
use for something beneficial.
seems to be in agreement that it should have been replaced
Bridge Over The St. Lucie River Could Be years ago. Jim Weix is a Broker Associate with The Keyes
Replaced Along with making navigation easier, and preventing a Company. Jim has 24 years of experience selling real
By Jim Weix potential collapse of waterfront property values, I envision estate full time. If you have questions or want the services
Imagine leaving your another positive. Wouldn’t that old trestle make a great of an experienced expert, you can reach Jim at (772)
dock at 6:30 a.m. to go artificial reef! 341-2941 or jimweix@jimweix.com.
fishing. Then imagine sitting Let’s hope that Martin County, along with groups like
for an hour waiting for one
of 32 passenger trains, plus
additional freight trains, to kids Corner
pass so that the 94-year-old
railroad trestle would rise up
to let you through. That is if
it is not malfunctioning as it Solutions For Stressed Out bibliotherapy when you read your child a children’s
is known to do frequently. literature book about dealing with stress. Children relate
That is the prospect that boaters and waterfront property Kids to characters in kids’ books. What To Do When You Worry
owners, located west of the trestle, are facing when the Too Much: A Kid’s Guide to Overcoming Anxiety is a great
planned passenger train service from Miami to Orlando by By Jim Forgan, Ph.D., book for you to read to your child because it uses some
Virgin Trains – formerly Brightline, formerly All Aboard School Psychologist of the same techniques as professional counselors.
Florida gets going. Along with the inconvenience, waterfront Today’s children Mindfulness is teaching children to be relaxed and
property values were likely to take a major hit. feel the pressure of focused by calming their mind and becoming aware of
In reality, that may have happened already. Waterfront standards-based testing, their body. It helps kids with focus, listening, slowing
home sales have been slower than normal in some Palm high performance down, and remaining calm under stress. You can
City waterfront communities. Along with the news coverage, expectations, social practice with your child by searching YouTube for kids
many real estate firms will disclose the potential issue to media pressure, and mindfulness videos. Goldie Hawn has a mindfulness
prospective buyers. complicated family curriculum to use in schools.
However, Virgin Trains has announced plans to replace the dynamics. It’s no Limit TV and showing your child the daily news. Kids
old bridge with a new one. The proposed new bridge would wonder why doctors and are observant and pay attention to more than what you
increase the present vertical clearance under the closed bridge psychologists report an might realize. Melissa’s child stressed over the smallest
of 6.6 feet at mean high tide to 18 feet. This means that most uptick in stress and anxiety. How’s your own stress level? of stories like a dog that was lost and found far away so
boats would be able to get under it even when it is down. When you are stressed it often carries over to your child’s she obsessed on her dog getting lost. Melissa stopped
This new double-track vertical lift bridge, when in the stress. Furthermore, there’s a genetic link and anxiety watching TV news and now gets news from Facebook.
raised position, would be 65 feet or as high as the Roosevelt often runs in families. This implies you might be part of About 30 percent of kids with stress need professional
the cause of your child’s stress so taking care of your own help. If you’ve tried the above strategies, consider
Answer for stress might also help your child’s stress. contacting our office to help your child with stress and
anxiety. Another source to find a professional counselor
If you want to help your child decrease his or her stress,
Crossword Puzzle try reading children’s books, practicing mindfulness, is the South Florida Association of Christian Counselors.
www.JimForgan.com or (561) 625-4125.
and limit how much news your child views. It’s called

Dyslexia, ADD/ADHD,

Gifted Testing

NOW OFFERING: Dr. Jim Forgan & Associates
• Jupiter & Stuart Offices Licensed School Psychologist
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“Helping Parents Help Children”