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David P. McCabe,
WMCP®, ChFC®, CLU®
Financial Planner
Nathaniel D. High, RICP®
Financial Planner
Nicholas J. Over, CFP®
Financial Planner
Sara E. Martin
Client Relations Manager
Jennifer A. McCabe
Client Relations Specialist
jennifer.mccabe@prudential.com
Centuria Financial Group
2333 Baltimore Blvd Suite B
Finksburg, MD 21048
Phone: 443-952-7232
July/August 2024
S.O.S for Your Family Finances
Protecting yourself and your loved ones is really what having a financial strategy is all about. A haphazard approach to saving and investing can leave you short of your goals, so consider what you can do to improve your chances of success.
Create a Savings Routine
It’s easy to find excuses for not putting money in a savings or investment account. But setting aside even a small amount every month can help you build savings to help you reach your goals. With automatic deposits, the money comes out of your paycheck before you receive it, reducing the temptation to spend instead of save.Maintain an Emergency Fund
No matter what stage of life you’re in, having money set aside for unexpected expenses or a loss of income is essential. An emergency fund can prevent you from having to sell investments or dip into other savings in those situations. You’ll generally want to keep three-to-six months’ worth of expenses in an account you can easily access without penalty.Define Short- and Long-term Goals
You’re more likely to save if you have specific goals, so think about what you’ll need money for in the future. If owning a home is in your plans, having a substantial down payment and a good credit standing can start you on your way to home ownership. Formalizing a college savings plan can help move you to reach that goal. But your biggest challenge may be to accumulate enough savings to fund your retirement. Contributions to an employer’s 401(k) plan or a traditional individual retirement account (IRA) potentially grow tax free until you withdraw the money in retirement.Protect with Life Insurance
Life insurance can be an integral part of your financial strategy. Policy proceeds can help your family maintain its standard of living in the event of your death.*Your financial professional can help you and your family prepare for a more secure financial future.
*Applications for life insurance are subject to underwriting and require paid premiums for coverage. Accessing cash values may reduce the death benefit and policy values, trigger tax consequences, surrender fees, and charges, and may require additional premium payments to maintain the contract. Guarantees are based on the claims-paying ability of the issuer.
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Centuria Financial Group is not affiliated with Prudential Financial. Centuria Financial Group sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Centuria Financial Group is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Centuria Financial Group and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Sara E. Martin and Jennifer McCabe are employed by David McCabe and not The Prudential Insurance Company of America or its subsidiaries.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
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