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Planning Your Financial Future

Having a strong financial plan is important no matter what stage of life you're in. It's never too early to think about sending your kids to college, what you'll leave your loved ones when you're gone, or saving for retirement. According to current statistics, one in three Americans have saved $0 for retirement.

Big decisions like these can be overwhelming at times, especially in an uncertain economy. But planning your financial future is worth looking at these decisions and setting up your life for a successful future.

Life insurance

According to statistics, 100% of people will die at some point in their life. Life is unpredictable, and if you've got loved ones counting on you, then life insurance should be part of your financial strategy. Depending on your age, income, and other factors such as the number and ages of any dependents, your financial advisor can recommend a variety of affordable plans that include both whole and term life insurance.

Mutual funds

A mutual fund is a collection or group of stocks, bonds, or some combination of the two. In certain ways, mutual funds have revolutionized the way investors are able to participate in the markets by giving them the ability to pool their monies together in order to invest the way the very wealthy have done for years.

Whether you're looking for a steady growth with minimal risk, or are looking for a more aggressive long-term investment strategy, there maybe mutual fund for you.


An annuity is essentially a contract with an insurance company. You'll typically pay the insurer a sum of money, and in exchange, the insurer will commit to sending you regular payments immediately or in the future for the duration of the contract.

Like mutual funds, annuities come in many different shapes and sizes. If you won't need annuity payments for many years, a variable annuity with payouts that are tied to how their investments perform may be right for you. If you are approaching or in retirement, fixed annuities, which come with higher fees but offer guaranteed fixed payments, may be a good option.

Deciding what type of annuity to choose, how much to contribute, and how aggressively to invest will depend on a number of factors.

College savings

Whether you want to start saving for your children's future or have grandkids who will need help paying for college, a 529 plan is a great investment tool. Earnings on your contributions to these plans are tax-deferred, and withdrawals used to pay for tuition and other qualified expenses are generally tax-free.


Certain investments are offered by prospectus only. Investors should request a prospectus from the issuer or sponsor before investing. Read the prospectus carefully and consider the investment objectives, risks, charges, expenses and other information before investing.

Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law.

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC

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