1. What is important to you? "You should clarify what's truly important to you - the people whom you care about, the aspirations you have, the things you want to protect, and the support you'd like to give to others," said Lee. "Your answers will create the framework around which your financial strategy can be built."
2. Who depends on you today, and who might depend on you tomorrow? While spouses and children are commonly thought of as the most obvious dependents, there can be others - for example, parents, in-laws or siblings who, due to age, or other circumstances, may be unable to care for themselves. "Even individuals who are single without a family have dependents - namely, themselves - since their well-being depends on their own ability to earn an income," said Lee. "Knowing your list of current and potential dependents will help you create a comprehensive strategy."
3. Who is providing for your dependents now? "When you develop your financial strategy, make sure that you account for all of the people who provide essential financial or non-financial support to your dependents, such as stay-at-home parents or grandparents," said Lee. "The valuable support they provide can be extremely expensive to replace."
4. What risks have you overlooked or not fully considered? People most obviously think of life insurance as protecting surviving dependents, but other financial responsibilities to consider may include preparing for retirement and taking care of aging parents."Be sure to think broadly about the various financial responsibilities you face today or may face in the future," said Lee.
5. Are your plans flexible enough? There are numerous ways that financial product solutions can be structured to provide future flexibility and adjust with evolving needs. "When speaking with your financial professional, ask about flexible solutions that can be upgraded (or downsized) as events in your life unfold," said Lee. Whole life insurance, a traditional product that is gaining new respect in today's economy because of its many guarantees, also provides cash values that can be tapped for unforeseen needs, such as paying for a child's education.
6. How do you pick the right financial professional to work with? The best financial professionals are not only experienced and knowledgeable but also good listeners who seek to fully understand your circumstances and financial objectives before ever proposing possible solutions. They should have access to product solutions from multiple fine companies, should clearly explain how they get paid for their services, and should provide references upon request. "Make sure your financial professional has a solid support network - those affiliated with a strong, reputable firm will likely have access to better resources to support your changing needs," said Lee.
7. How do you pick the right financial services company to work with? "Just as you'll want to align yourself with a strong, reputable financial professional, you'll want to do the same with regard to financial services companies," said Lee. In many cases, these products will be used to address financial needs and objectives that last for decades, if not a lifetime. To help ensure that your financial product providers will be there when you (or your loved ones) need them, work with strong, stable companies that have received high marks from independent ratings agencies.
8. What if you already have a plan? "Even the best financial strategies should be revisited and updated regularly - generally at least once a year," said Lee. An experienced financial professional should regularly review your strategy with you, to help ensure that it remains aligned with your objectives and appropriate for your circumstances.

If you have any questions or would like to talk to an adviser/broker, please do not hesitate to contact us at: 303-425-4466/888-425-4466 ext. 225 or mattb@denverwestip.info

THIS IS PRETTY BASIC ADVICE; BUT, IN TODAY'S TIMES, I CAN SEE IT COULD LEAVE AN OPEN DOOR FOR PASSING OUT YOUR PRIVATE INFORMATION.

WARNING: 2010 Census Cautions from the Better Business Bureau

Be Cautious About Giving Info to Census Workers by Susan Johnson

With the U.S. Census process beginning, the Better Business Bureau (BBB) advises people to be cooperative, but cautious, so as not to become a victim of fraud or identity theft. The first phase of the 2010 U.S. Census is under way as workers have begun verifying the addresses of households across the country. Eventually, more than 140,000 U.S. Census workers will count every person in the United States and will gather information about every person living at each address including name, age, gender, race, and other relevant data.

The big question is - how do you tell the difference between a U.S. Census worker and a con artist? BBB offers the following advice:

If a U.S. Census worker knocks on your door, they will have a badge, a handheld device, a Census Bureau canvas bag, and a confidentiality notice. Ask to see their identification and their badge before answering their questions. However, you should never invite anyone you don't know into your home.

Census workers are currently only knocking on doors to verify address information. Do not give your Social Security number, credit card or banking information to anyone, even if they claim they need it for the U.S. Census.

REMEMBER, NO MATTER WHAT THEY ASK, YOU REALLY ONLY NEED TO TELL THEM HOW MANY PEOPLE LIVE AT YOUR ADDRESS.

While the Census Bureau might ask for basic financial information, such as a salary range, YOU DON'T HAVE TO ANSWER ANYTHING AT ALL ABOUT YOUR FINANCIAL SITUATION. The Census Bureau will not ask for Social Security, bank account, or credit card numbers, nor will employees solicit donations. Any one asking for that information is NOT with the Census Bureau.

AND REMEMBER, THE CENSUS BUREAU HAS DECIDED NOT TO WORK WITH ACORN ON GATHERING THIS INFORMATION. No Acorn worker should approach you saying he/she is with the Census Bureau.

Eventually, Census workers may contact you by telephone, mail, or in person at home. However, the Census Bureau will not contact you by Email, so be on the lookout for Email scams impersonating the Census.

Never click on a link or open any attachments in an Email that are supposedly from the U.S. Census Bureau.

For more advice on avoiding identity theft and fraud, visit www.bbb.org

Matt Benore - DenverWest Insurnace Professionals, Inc.

www.denverwestip.info

303-425-4466