Securing A Future For My Family

How can I run for office and secure my family's financial future?

It is a little bit harder to do it legally now than it was a few years ago. Congress had exempted themselves from insider trading laws. This repugnant and morally reprehensible loophole was removed in a proposed law, but the law left in the loophole for the spouses of congress members. Before the bill was passed, the spouse issue was fixed due to negative publicity. Denny Hastert famously used this, for an example, to make some millions on a real estate transaction where he had prior information on the route of a highway.

How can I secure my future?

I will keep this really simple and straight: Your future is nothing but the choices you make in the present, influenced by the memories of the past. I really hope that you read this carefully, introspect your life and take the right steps to secure your future.  I also do want to add here that the influences from the past sometimes are also negative and so beware of that. It is more important to take thoughtful and informed steps in the present for a better tomorrow.

What do I do now to secure my financial future?

If your company has a 401K plan, then you should try to put at least 10% of your salary into the program.   Most companies that have a 401K plan also will match a certain amount of your contribution.   A typical 401K plan has the company matching 50% of what you contribute up to 6% of your salary.  Therefore, if you contribute 7% then the company will contribute 3%, to make the 10% per year.  That will amount to a significant amount by the time you are 65.   Plenty to help you finance a retirement assuming your company does not have a pension plan.All the best.

How do I secure a stable financial future (a single college graduate)?

Wow! A full time minimum wage job! You might be able to make $20,000 per year. I hope you are still living with your parents if you plan on paying off your student loans and your credit cards.In the US minimum wage isn’t going to cut it. You are going to have to master a marketable skill and (probably) earn a credential if you expect to earn a living wage.You don’t need some expensive, fancy college degree. You just need a marketable skill that is in demand.Dr. Kevin Fleming, “(RE)Defining the Goal: The True Path to Career Readiness in the 21st Century,” explains where some of the good jobs are:“The true ratio of jobs in our economy is 1:2:7. For every occupation that requires a master’s degree or more, two professional jobs require a university degree, and there are over a half a dozen jobs requiring a 1-year certificate or a 2-year degree, and each of these technicians is in very high-skilled areas in high demand.”Financial aid is available. Visit your local community colleges and find a marketable, technical certification that interests you. Hopefully you can pursue this full time. If your financial aid doesn’t allow that, do your best and go part time. Earn that certification and get a better job. Now layer that certification and get an Associate’s degree. Now you can get an even better job.I live two miles from a community college. One of my favorite programs there leads to an Associate’s Degree certifying graduates to install and maintain robots. The maximum cost to earn this degree would be $10,000 however some of the classes are free—government grants. The jobs are full time with benefits--$25/hour. There is one serious problem—very little interest. The class sizes run 3-4 students. There is a mechatronics program at Gateway Community and Technical College in Northern Kentucky. The technology is incredible. The state and local industries have invested millions. They have the capacity to train 200. They graduated 27 students last spring—no interest. Local industries are not happy. Another local school, Great Oaks Community College, has dropped their plumbing certification—no interest.Here are some other job ideas:The Best-Paid U.S. Jobs Requiring No Bachelor's Degree

What is the best option for securing my spouse’s and my children’s lives in the future, an SIP or take a term insurance?

Term Insurance is the best option to secure your family’s future. In a term insurance plan, you can cover yourself for a huge amount with a very small amount. A term insurance plan’s payout doesn’t reduce with time. Take a term insurance which offer cover for long durations. This will ensure your payout is almost guaranteed. For example, ICICI Prudential iProtectSmart offers a cover up to the age of 99 years and their premiums start as low as Rs.3600 p.a. Term Insurance is also beneficial as you can take a critical illness benefit along with it. Under this benefit, you will be receiving a lump sum amount if diagnosed with a critical illness like cancer, heart problems and many more. And the best part is that it requires only a diagnosis statement and no medical/hospitalization bills are required. This was you can protect your family and yourself too in the future.