Pulse - January 2022 - 20

TOOLS FOR SUCCESS
Five Easy Ways to
Protect Your Money
Dean Walsh
I
t's morning and you're out
the door. Immediately your
home's smart devices take
over, dialing down the heat,
turning off the coffeemaker,
and arming surveillance inside
and out. In the car, rain-sensing wipers activate at the
first drops; adaptive cruise control maintains a steady
pace; and upon arrival, parking assist gets you into a tight
space, no problem.
Protective technologies are transforming everyday life, adding
safety, convenience, and peace of mind. But how about in our
financial lives? Are there similar measures that can help protect our
income from interruptions due to illness, injury, disability, layoff
and emergencies.
Just as smart homes and cars give us fewer " what ifs " to stress
over, here are some strategies you can activate to help worry-proof
your financial future.
SHOCK ABSORBERS
Would you buy a new car without airbags? (Trick question. You
can't.) The point is, one-quarter of Americans travel through life
without a financial cushion to reduce the impact of unexpected
emergencies.1
Creating a rainy-day fund that totals six to 12
months of your income can help lessen your risk.
To activate: Set up an automatic withdrawal from your checking
account or paycheck - the maximum you can comfortably afford
- to build up emergency cash reserves and you'll be on your way
to becoming a world-class saver
ROADSIDE ASSISTANCE
Disability can occur in an instant. In fact, one in four of
today's 20-year-olds will become disabled during their working
years.2 Disability income insurance can help protect a portion of
your income while you recover.
To activate: If your employer offers Group Long-Term disability
insurance, make sure you are participating in the plan. But since
most employer policies replace only about 40 to 60 percent of
your income, look into individual disability income insurance, too.
It can be a surprisingly affordable way to add financial confidence.
PREVENTIVE MAINTENANCE
Wellness wearables are the hottest technology around, allowing
you to monitor your footsteps, measure your UV exposure, and
even take a blood sample, all to support smarter health decisions.
To make smarter decisions around your healthcare dollars, consider
a health savings account. It's a tax-advantaged way to stretch
20
your income to pay for preventive care that may not be covered by
medical insurance, such as dental check-ups.3
To activate:Talk with your HR rep to learn about your existing
medical coverage and understand your options.
HYBRID POWER
Having two sources of propulsion in a vehicle, such as a gas-powered
engine and an electric motor, helps ensure you reach your destination.
Similarly, if you get laid off from your job, you may need
more than federal/state unemployment benefits to sustain your lifestyle.
Private unemployment coverage may be the answer.
To activate: Look into the options to purchase an individual
unemployment insurance policy in your state. It may be a low-cost
way to replace more of your lost income.
SECURITY SYSTEMS
Perhaps you've investigated security technology to safeguard
your home and loved ones. But have you given equal thought to
protecting an even more valuable asset - your life?
To activate: Consider a whole life insurance plan to provide
financial confidence for your family and protect their future.
Some whole life plans even let you build cash value to supplement
your income.4
With just a few simple steps, you can put any of these incomesafeguards
in place - minimal effort that can yield powerful protection
for your financial future.
To learn more, contact Dean Walsh at 949-375-3432 dean_walsh@pacific
advisors.com. Brought to you by The Guardian Network © 2019. The
Guardian Life Insurance Company of America®, New York, NY
SOURCES:
1 " The first thing you should know about saving money. " CNBC. July 6, 2018
2 U.S. Social Security Administration Fact Sheet, June 2017
3 Neither Guardian nor its subsidiaries issue health insurance
4 All whole life insurance policy guarantees are subject to the timely payment of all
required premiums and the claims paying ability of the issuing insurance company. Policy
loans and withdrawals affect the guarantees by reducing the policy's death benefit
and cash values.
Policy benefits are reduced by any outstanding loan or loan interest and/or withdrawals.
Dividends, if any, are affected by policy loans and loan interest. Withdrawals above the
cost basis may result in taxable ordinary income. If the policy lapses, or is surrendered, any
outstanding loans considered gain in the policy may be subject to ordinary income taxes.
If the policy is a Modified Endowment Contract (MEC), loans are treated like withdrawals,
but as gain first, subject to ordinary income taxes. If the policy owner is under 59 ½,
any taxable withdrawal may also be subject to a 10% federal tax penalty.
Dividends are not guaranteed. They are declared annually by Guardian's Board of
Directors. The total dividend calculation includes mortality experience and expense
management as well as investment results.
Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting
advice. Consult your tax, legal, or accounting professional regarding your individual
situation. Riders may incur an additional cost or premium. Rider benefits may
not be available in all states. State creditor protection for life insurance policies varies
by state. Contact your state's insurance department or consult your legal advisor
regarding your individual situation.
JANUARY 2022
PULSE

Pulse - January 2022

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