Best Ways To Maximize Your Wealth With Improving Economy

4. Review Your Insurance Coverages

Too many people are talked into paying too much for life and disability insurance, whether it's by adding these coverages to car loans, buying whole-life insurance policies when term-life makes more sense, or buying life insurance when you have no dependents. On the other hand, it's important that you have enough insurance to protect your dependents and your income in the case of death or disability.

5. Be Sure You Have Sufficient Emergency Funds

Does your emergency fund have enough money in it?  Remember, it is ideal for your emergency fund to include enough money to pay for six months of your fixed expenses. 

Keep these funds in a money market account or other very liquid investments in case you need them immediately.  The money in your emergency fund should only be used for true emergencies such as a job loss or catastrophic medical costs. 

6. Prepare For Long-Term Care

Are you at the point in life when it’s time to consider your options for long term care?  We define long-term care as any range of services or support that a person receives to meet their personal care needs, which may include a wide range of medical and social services.   

The reason that long-term care is so important is because this kind of care is not covered under general healthcare insurance.  One of the main keys to long-term care is to start preparing early.