Financial Sense In The Real World

In school we are educated about math, science, history, and other things. How much of this is actually used in the real world these days? It isn’t until we’ve become adults and start seeing the real world issues that we realize how much there is we don’t know. The hard truth is most don’t seek help until it is too late and we all have story or two of our own whether it be illness, tragedy, or other hardships. One of these issues in particular is how our money works and the dreaded yet inevitable – taxes. Whether you have a little or a lot, a financial education is worth its weight in gold. We tend to think that those with “money” must know a golden secret that we don’t thus the saying goes “the richer get richer and the poor get poorer.” This is quite actually the contrary.

With this in mind – retirement advisor, Seng Senabandith, who has a harrowing story of his own of financial hardship that drove him to become educated in exactly this – financial sense. He grew up in a first generation working class family. His parents came to the U.S. as refugees from an impoverished war torn country. Throughout the struggles of assimilating between two cultures; his parents worked hard to provide for their four children teaching them early on about a strong work ethic. They worked nearly seven days a week to be able to survive. It seemed they were truly living the American dream being able to purchase a home and cars for their children, but suddenly his father was diagnosed with stage 4 cancer. A tumultuous year went by and when his father passed, the carefree life Seng had grown to know was quickly gone.  His father had just enough life insurance to cover minimal expenses and the family struggled to adjust falling into a financial deficit after. Determined to make a change in their circumstances, he sought resources and education where he also found a passion in helping others.

Over the years, he learned about the importance of building a sound retirement plan and about “living benefits” in life insurance.  He learned that traditional ideas about retirement, investing, and life insurance were outdated. For example, most believe that retirement planning amounts to their employer sponsored plans and that life insurance only benefits the beneficiaries. This is far from true – one benefit of life insurance with living benefits is that it can pay out cash benefits to the policy holder in the event of chronic, critical, or terminal illness. This can be a vital resource and financial relief for families and most often this benefit is provided at no additional cost. This is only one of many advances in the financial world that most Americans don’t know about.

Today Seng strives to educate the middle and working classes about how their money works from retirement accounts, debt elimination and management, and insurance to tax free investments, and more. The idea is to create a strong local and educated community from the blue collar worker to the scholar.  After all it directly impacts us all, our families, our communities, and our economy. In a world where less is more and quite frankly more is still not enough – no one can afford to not have financial sense.

What is financial sense? In Seng’s words, “Financial sense is the understanding of how to manage, save, and invest your money regardless of your income meanwhile understanding the difference between taxable, tax deferred, and tax exempt categories and most importantly protecting our families.”  The difference is staggering from hundreds to thousands to maybe even a million dollars or more. Would that make a difference to your life, your family, your financial security? There are no guarantees in life they say, but death and taxes. Don’t you agree – if you can’t make sense, you can’t make dollars? Contact Seng today to find out when the next free workshop or webinar will be held.

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