An authoritative research has shown that credit card is the major mode of payment. In some credit -card-intensive countries, each person owns an average of 2.4 credit cards. Most people today are too dependent on credit cards. However the immediate material satisfaction makes people think less about unpredictable emergencies for instance unemployment and diseases, or even some great events that definitely will happen later in their lives, such as retirement.
“I don’t quite worry about my retirement” said Jimmy Kennedy, “pension I acquire will support my late life”. Is it so optimistic that no one need to worry about their future life? The truth is as the inflation rate gets higher, your pension may only enable you to survive; if you want to live better, make up yourself elegantly, and travel regularly, you need a stronger financial support. Thus, you need to make earlier preparation for your personal finance.
Investments in Insurance Products
- Health: Everybody feels upset if he or she found a bill from the hospital in the inbox, so investment in health condition and medical care should come in the first place. The Bank of America provides customers the HSA plan which will help you handle the medical expenses no matter you are register as an individual or as a group with other employees in your company.
- Unemployment: For those who are seeking jobs actively due to the passive unemployment status, Maryland Unemployment Insurance will provide temporary financial assistance. Applicants should have worked in Maryland for 1 – 1.5 year. After application for the Maryland Unemployment Insurance, you will get a debit card issued by Citi Bank to receive your insurance financial assistance.
- Other Insurance Products: Except for medical expenses and unemployment assistance, you can also find more insurance such as life insurance provided by John Hancock USA. Log into your John Hancock USA account and set better plans for your future.
Financial Management for Your Wealth
After set a solid foundation for emergencies, the rest of your wealth can be used to do some profitable investments. However, most people are lack of professional knowledge of financial investment. Thus, they may need quality advice and suggestions. Merrill Lynch wealth management is an excellent tool for you to effectively manage your money. Create an account there and learn more about personal finance.