Financial Spring Cleaning - Expert Edition Episode 16

Financial Spring Cleaning

How to prep your finances

About our expert:
Acquania is a financial coach, freelance writer, and independent life insurance producer with LifeTyme Financial Group, LLC. She is committed to helping people find financial freedom and build wealth. As a financial coach, she equips her clients with "outside the box" finance tips, debt payment plans, retirement planning, and more. With her advice clients are able to meet and exceed their financial and personal goals.

Her coaching is individually tailored to address all financial situations. Also, through her finance blog and podcast, The Purpose of Money, she shows women how to invest and save more so they can live a more fulfilling and prosperous life.

Acquania's passion for personal finance and investing began when she was in high school and her father gave her a copy of Rich Dad, Poor Dad by Robert Kiyosaki. At 16 years old, Acquania opened a Roth Individual Retirement Account and has been seeking financial independence and early retirement (FIRE) ever since.

Schedule a Free Consultation with Acquania

Resource Mentioned:
Davonne Reaves
Hip Hop Hotel Broker
The Purpose of Money

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TRANSCRIPT:

[00:00:00] Naseema: all right. All right, all right, all right. Alright. My financially intentional people, we have our life insurance expert, Acquania Escarne back to drop some gems on about our. Financials spring cleaning. We are going to go through a checklist of items that you need to do this spring to get your finances in order.

What's up, AIA Sima,

[00:00:26] Acquania: what's going on? Thanks for having me.

[00:00:29] Naseema: Of course. Living the dream as usual. Psych fat and uncomfortable

So tell me like as we're going into this spring cleaning, I know I have been doing some major house cleaning over here, getting ready for this baby to come, getting ready to work way less, which means my income will be way down . But what are some things people need to do in general to get their finances in?

[00:00:57] Acquania: Yes. So first and foremost, since you are a mama with a baby on the way, I always remind people this is a great time to review your life insurance and make sure you have enough. So you wanna make sure that you have enough money for your family to survive five to 10 years after your death. So I love when you have at least five to 10 times your income.

In your policy as the death benefit. You also may wanna include additional money, about 50 to a hundred thousand dollars per child for college if you want them to go to college. And that's what I recommend if you're trying to contribute to their education. But if you wanna cover a full ride private institution, you may want to have at least $200,000 per child.

So with another child on the way, if you don't have. To cover five to 10 years of your salary education for that child and any money to pay off your existing mortgages or other debt, then this will be a great time to get another policy and increase your coverage. And once you do that, don't forget to update your will and your estate planning documents.

I just tell you,

[00:02:12] Naseema: Tanya , you're like I didn't need that yet. listen. Oh my God. So I have this fat estate plan, right? Paid a Porsche of wood legal. Thousands of dollars to create this estate plan for me in March, 2021. Go to like, you know, get ready about to submit my advanced directive, start looking through it and I'm like, oh shoot.

There are so many things that I didn't do on my end to update my trust. So just for people who don't, uh, an attorney is gonna put your trust in place, but there are certain things that you need to do on your end to make sure that your trust is basically over everything. Mm-hmm. . So I had to make sure my trust was, my bank accounts were under my trust, which means that actually I had to create a separate trust bank account and now my other bank accounts are beneficiary.

So I have a Business bank account at my credit union and a personal bank account at my credit union, and so the trust is now the beneficiary of those accounts. I had to go in in all my life insurance policies, make sure the beneficiary a hundred percent. Was my trust. So it's everything is under Nasima McElroy Family Trust.

So I didn't do that due diligence until just now. It's all done now. Even my business needs to be under my trust. So my financially intentional L L C is under Nasima McElroy Family Trust, so that on my death, the trust handles everything. And I have this binder that says explicitly, How to allocate those things.

So , , I did do that just now in preparation for this birth, just because I looked through there because I wanted to submit my advanced directive documents for my registration so they can have it on file. And I'm like, oh my God. So sorry for that long tangent. No, no. That's good. That's said know , it's something to do.

Yes.

[00:04:21] Acquania: Yes. And what you did is called funding your trust. So what you, you have all of these things, right? You have life insurance, you have bank accounts, you even have a business. What people fail to do is create the succession plan that also funds the trust. So once you spend the money for the attorney to create it, you need to actually put something in it.

So in your. You're funding it by putting the beneficiary as the trust on the life insurance and the bank accounts, and then at the time of your passing, that stuff will go under the power of the trust and the person you've appointed to manage your estate, your executor of your estate will then ensure that the proceeds go where they're supposed to go.

Right? Another thing that you may need to do, if you haven't already is if you have real estate in your name. You would also wanna change that to your trust. So for example, our primary home is. A family trust name, and so every year we get our tax bill, everything. It's has the trust as the owner. And they are on the deed.

And we did have to do some changes to our documentation with the county so that they were aware that the ownership transferred from us as people to our trust. And so that's another way that you're gonna fund your trust. And

[00:05:36] Naseema: so those, I, I actually did do that. Okay. Actually, my attorney did that, did that.

So that was one of the things I was part of, like what she did. Everything else was. Responsibility, but what I did do was go to the county website and make sure I printed off another copy of that deed that said that on there. Mm-hmm. , it cost me like $5, but I got that mailed out to me as well and put that up in my files.

Just so everyone knows this has, my house is also under my trust as well. Yes,

[00:06:06] Acquania: absolutely. So good work. You are a. Students and you are finally up to speed. But that's why we need to periodically check these things because we don't want a situation to happen where something happens to us. And now it has complicated things because we have did the process or we did not inform our executor of.

Date about the documents, where they were and what they need to do. So update, update, update. And then of course, don't forget to add baby to your will so that the baby's included. Kobe Bryant is, you know, a celebrity who had it all and. Forgot to add his newest child to his will, and so his wife had to do so after his death, and that's something that she did graciously.

But you know, in situations where you might have ex-wives, multiple children, and different types of situations, you don't want any of your children to be left out of their inheritance if you intend for them to inherit something. So that's why you need to continuously review your documents. Another thing to keep in mind is that.

We need to update our life insurance beneficiaries after divorces. So when you get married, when you get divorced, when you have more children, when you establish a trust, these are times to review all your important documents. Don't worry though, if you have life insurance and you have not set up your trust yet, I still think you should leave your life insurance to an adult, preferably who can handle your affairs, and then you can change it to the trust later.

you always have the option to change your beneficiaries while you're alive. You cannot change them after you're dead. Right. That makes sense. Okay. Make sure you know what your documents say and make sure that's what you wanted to say, because after your death, the judges, your family, no one can change who that money's going to.

So if that's your ex boo boo, I'm sorry to tell you, , they're coming into some money and your family's gonna be pissed. So just keep that in mind. It's important to update and review. Another thing that people don't think about, but they can do. Get their name changed and make sure that their document is updated in the system with the companies that you're doing business with.

So a lot of times when you change your name, they will ask for a new social security number, a new license, so that everyone, including the government, knows that your name has changed. But you may also need to update your name with the institutions that you bank. That you have life insurance with, that you do business with, so that they know your name as well.

That is really, can

[00:08:46] Naseema: I just, can I just speak on that cause Yeah. You know what? Like I have been married and I have gone through the name change twice. Like I, when I got married and when I got a divorce. And let me say like, ladies, don't take changing your name lightly, especially if you have assets. I mean, I know it's cute and all and it's what we're supposed to do, but I would never again, do that because it is a hassle.

To remember all the places that you need to change your name, so always have that. Like if you think you were gonna get married, I am not changing my name, you could change your name. You know, you could do all of that. Change all your name on all your stuff, but I'm not changing my name, so I'm to put that out there.

My power to you. It is totally up to you. . And I'm not even

[00:09:37] Acquania: mad at that. I think that's a conversation you need to have with your partner. And if you guys are cool with it, like so be it. I've seen it all right. I've even seen recently a friend of mine got married and she changed her name to her wife's name, so I'm like, more power to you.

Do you boo? I love it if you like it, you know, so that is definitely something to keep in mind and I think that it's just important to review these things often. One thing I've seen with my clients, cuz I do help with life insurance, but my firm helps with. Comprehensive financial planning as well, and I've noticed that a lot of work retirement accounts also do not have beneficiaries, and your human resources department may not always bug you about this or remind you, but that is so important because God forbid you pass away.

You want your beneficiaries to be able to access that money without it having to go through any type of probate or contesting. And I tell you, , some jobs just don't remind you. Or in my case last year when I was working, the, my employer changed their systems mm-hmm. , and when they changed over their systems, everyone had to redo their forms and they sent out, you know, notifications.

But not everyone read them. Not everyone took action. And so some people are rolling out here in these streets with no beneficiaries on retirement accounts. So definitely make sure that information is updated and that you are aware of who that money's going to and that's who you want it to go to. So I love when we do what we call like a financial spring cleaning, looking at beneficiaries, looking at how much life insurance we have.

Looking at how much you have saved for your emergency, for your college fund. You know, for my kids I tell people this all the time. When I was first pregnant with my first son, I didn't wait until he was born to start his five twenty nine plan. In my state, and in most states, you can start the plan under your name because it's eligible for anyone.

Going to seek an education in the future. And then when my son was born and he had a social security number, then I changed the account into his name. And that money that I'd started saving prior to his birth was now in his five twenty nine plan. So everyone assumes that I need to wait until I have this baby before I can save for their future.

And I'm here to tell you that's not true. You can start saving for college. Before they're born. Mm-hmm. , and I love 5 29 plans because in most states, not necessarily Cali , but in most states, they do give you a state tax deduction on your state income taxes. So in the state of Virginia where I live, you can put.

up to 4,000 or so a year and get a 4,000 deduction per child. And so that really lowers my state tax bill sometimes will even help me get a refund. So it really just depends on your state and what the benefits are. But even if your state doesn't give you that deduction for whatever reason, I know like in Texas, in some states, Where they don't have an income tax, they're not giving you the benefit.

It's still worth doing for your child's future because 5 29 plans is after tax dollars put away and allowed to grow for your children tax free. And then when they go to school and they use them on eligible school expenses, you're not gonna pay taxes on that money either. So that's a great. Prepay for tuition, books, and even other supplies they'll need for college.

[00:13:09] Naseema: So I set mine up already for this baby a few months ago. See . So, so my other kids already have theirs and my goal was just to have a hundred thousand dollars each for college and anything additional out cash flow. But there I, and I don't get a state benefit and I still think. An amazing program.

Like I, like you said, because you can invest in this mu, you can invest in this tax-free. Even when you're thinking about having kids, even as an auntie or uncle and you really feel like you wanna help, you know, some of your relatives go through college, you can fund these things. So I think they're a great tool.

But yeah, so my goal is to have a hundred thousand dollars each for my girls. Four year old and my eight year old already have enough money with what? Doing a compound interest calculation. They'll have the a hundred thousand dollars, so in their account by the time they're 18 based off of what has already been invested.

So their account is already fully funded. So getting this baby's account set up was a priority for. . So like you said, what I did was I just opened the account in my name and as soon as she's born and has a social security number, I'll change the beneficiary of that account to her. Mm-hmm. . And it's just as, as simple as going on Fidelity, who I have it with, and just changing the name over mm-hmm.

On the account. So I already set that up for her. So I think it's a great tool. But recently, just a couple months ago, they actually announced that if you've had the account for or over. For over 13 years I think it is, which both my ki well all my kids will have for over 13 years. You can roll that money over into a retirement account for them $35,000 one time in a retirement account.

But lemme tell you something, $35,000 at 18 into a retirement account. is gonna be in your high six figures, like $700,000 by the time they hit retirement. So don't sleep on these benefits of a 5 29. Like always get this pushback like, well, what if my kids don't go to college? Well, what if they do, number one?

Number two. You, you can use it to pay off loans as well. Mm-hmm. You can transfer it to another family member. Yeah. Like there are so many different options, but this is a tool that Rich will use and you can just keep on rolling it over year after year after year. In tax free savings. Mm-hmm. for somebody who can benefit from it.

So, you know, I think we, we thinking a little too small. Yes. When it comes to 5 29 accounts. Yes. leverage

[00:15:42] Acquania: them. Baby Leverage them. Yes. And I love what you said about using 'em for other family members so you can use 'em for other siblings, you can use them for other people, cousins and your family, nieces, nephews but to pay attention to the fine print for your state cuz in Maryland, First had my child and that's where I started my first 5 29.

They have this weird rule that you can't give it to a first cousin that you might marry. It's really weird. But , other states, .

[00:16:10] Naseema: It's really weird.

[00:16:11] Acquania: It's really anybody. So I, cause I was that person who read all of the contract and I saw that and I said, first cousin, Mike Mary, what? Of course I was just like, haha.

And then, so I've been sharing that story. But yeah, for the most part, five 20 nines are amazing. Great way to save. And another hack that I did as a mom is I told family members between zero and five years old. , don't give me toys, don't give me rattles. Give me 5 29 contributions. Mm-hmm. . And when they decided to not listen to me and give me money to get gifts anyway, I still took those monetary contributions and put them into 5 29 plan.

But nowadays, 5 29 plans are so innovative. They have a link that you can send to fam, friends and family so they can connect and. Wire transfers directly. Mm-hmm. from their bank accounts in a secure space. So you don't have to make it hard and you don't always have to be the middle person. You can just let people know every holiday, every birthday, that in lieu of gifts you would love 5 29 contributions and let them contribute to your child's future as.

and I did that until five. Because after five kids really tend to remember what you're giving them and they may have an interest in what you're giving them. So then I let grandparents and family members get a little extra on the gifts. But I did five years of Give me your money. Thank you so much. We appreciate you.

[00:17:43] Naseema: Yeah. Loa when people buy, my kids like clothes and toys. They have enough. Thank you very much. They have actually too much. Mm-hmm. . And the thing is, is that they play with things for a second and then it's just, it just piles up as junk. And I hate junk. And so even my, my daughter's ninth birthday is coming up next week or in like 14 days.

and like, I'm like, please do not buy her anything. So her, like I said, her 5 29 is fully funded, but what I do is I give them a link where they can buy her stocks for her brokerage account her that her custodial brokerage account. And so you can also. Do that, that's not part of I love that spring painting.

Mm-hmm. . But just another hack. Like I, don't want, I don't want the toys. I want something that she can benefit from in the long run. She's not gonna remember em. I, my kids have stuff that are un, that have like sitting in their room. Mm-hmm. , unwrap. Same

[00:18:41] Acquania: package still

[00:18:42] Naseema: tags. Yeah, so please, I love everybody and I know what you're trying to do.

When you think you're doing a great thing by buying these toys, they not gonna remember it. Even if they ask for it, they play with it for like five seconds. But a g a monetary gift that can grow is something that's gonna benefit him. And the next generation for years, you know, so like, please, for years.

[00:19:09] Acquania: Years, no,

[00:19:09] Naseema: definitely not. I'm gonna put out a, a post with the script that I use to send people because Oh, that's good. Yeah, that's good. I'm tired. Because

[00:19:19] Acquania: you're like, I don't wanna have to tell you this more than once. Yes, exactly. That's a good point though. But I think spring cleaning is a great time to check on your investments too, see how they're doing, look at your retirement account.

Look at where you are as far as maxing out. So what I've done when I started my career, I did the minimum to get the free money from my employer, and then I steadily increased that amount until I maxed out because I really wanted to challenge myself to save more for retirement. But I didn't know in the beginning if I could afford to do it.

So I did 1% increases every year until I maxed out at the IRS limit. And if you're someone who hasn't maxed, is not on track, to max out because you're not doing the most you can per pay period. This is a great time to turn up the heat a little bit, add some more money per paycheck. So that by the end of the year you're maxing out or at least contributing the most you possibly can.

It's a great time to look at your stocks and investments, but I wouldn't recommend selling anything. Right now. The market is a little bit funky. Mm-hmm. , and this is not the best time to sell, but this is just a great time to assess and then kind of keep your eye on things and see where they're heading.

But if you can continue to invest and invest more, , this is a great time to do it and a great time to reevaluate where you are on your maxes.

[00:20:39] Naseema: Yeah, I love that 1% thing, like as a rule of thumb, I say like, try to start around 10% if you e okay, like hit your employer match. Like first of all, if you're not hitting your employer match, not only are you leaving money on the table, but that's actually not engaging part of your salary because your employer match is actually something that they calculate in like how.

You, you're getting paid right as your salary as same as like other benefits that they offer, but you are leaving part of your salary on the table. So that's like saying, don't pay me all my money. , this paycheck. Like how many people do like. Do, you know, like just leave money on the table. Like why would you wanna do that?

But people just don't understand that concept. Like so invest up to the mat. So not only are you contributing to your financial future yourself, but you're also getting this free money. So do that. But also as a rule of them, like. , if you're trying to gauge how much you can afford, try to start with 10%.

See if you, if you're comfortable with that, and nine times outta 10, you don't even notice it because it drops your taxable income as well. So it's kind of this balancing act. And then, you know, if you're not comfortable, Going all the way to the max, then that 1% increase is key. Just set it and forget it.

And that way, you know, it's not something that you have to think about or remember. It's all, it's sometimes oftentimes like, like a button that you hit mm-hmm. in retirement fund and it'll say just increase 1% a year. A lot of 'em have it, a lot of accounts have that as a default. So if that's there, go ahead.

[00:22:16] Acquania: I love it. Yep. Yeah. And it'll, it'll go a long way and Yay. Most of the time you'll realize you don't even miss the money, because when I finally did Max out, I was like, wait, we still can eat. We still can travel. Okay, I'm good. You know? Yeah. And so you don't miss it. So I definitely highly recommend that.

And then making sure, so here's so. That happens periodically and I wanna remind people to do, if you have any automatic transfer set up and you are not sure if they are forever or they have a timeframe, this is a good time to check on that as well. I know there are plenty of times where I thought something was on forever mode and then I.

And said, oh no, it expired at the end of the year or at the end of March, or 12 months after I set it up, and then I realized like, oh no, I'm not contributing to that investment account or savings the way I thought I was because my automatic transfer. Expired. So as you're doing your spring cleaning, check on all your automatic transfers.

Make sure that they're still active and still putting money where they're supposed to be so that you have what you need to build for your future. .

[00:23:29] Naseema: I think that's the same thing. Like it's a good time to check in with your automatic withdrawals too. . Yes, . So somehow you have stuff linked into your account that do, doesn't necessarily need to be automatically withdrawn.

And sometimes they do like, like old utility companies might mistakenly bill you and you, and to get that money back takes a long time. They'll take that money out. Fast, but it's a way to kind of analyze your bills. Like check off, like what do you have on automatic withdrawal? What did you set up before?

Do you still need it set up like that? Mm-hmm. . So I think it goes both ways on the in, in, on the expense side and the investing side.

[00:24:07] Acquania: Yes. Mm-hmm. and I actually have a rule of thumb, I never automatically pay utility bills. That's the one bill I won't automatically pay. And the reason is because spikes in your utility bills are normally assigned that there's a problem.

And if you're on autopay or you're not paying attention to that draft, you might not realize there's a problem. So for example, if you have a huge spike in your water bill, there could be a leak between your house and the main line. There could be a misreading of your meter. That's how you check it is by looking at your usage and your bill each month.

Sometimes we get on set at forget it mode. We're not checking, and then we're like, wait, my water bill was $200 last quarter, but it's $600 this quarter. What happened? But don't forget to keep in mind what is seasonally happening. So obviously in the summer when I am watering my lawn on a more regular basis, I am using more water than in the winter.

When I've treated my lawn and I'm not turning on the sprinklers, so I know kind of in my mind to take that in consideration. But if it's any more than normal increases, then I'm asking questions and people do make mistakes, especially. In utilities where a meter is read by a person mm-hmm. um, They could transpose numbers or just make a mistake.

And then also accidents happen. I remember one of my friends, a utility line was hit by an a car accident and there was some disruption in the utility usage in that area, and it impacted every. Bills, but the city had to pretty much resolve that issue, get it fixed, and those are things that you kind of wanna keep an eye on.

So just know to check in on those. But I manually pay all my utility bills for that reason. .

[00:25:51] Naseema: I love that hack. And actually I just had a so it's called a true up when you have solar mm-hmm. , and you're tapped into your electric company. Well, most it's required. So in California, if you buy a new house, so if you bought a new house after I think like 2020, all houses.

Built with solar panels. But the thing is we try to, we try to be green and all that kind of stuff. It's just another way to charge people money . But anyway so the, but there's a requirement there, but the requirement doesn't state. How many panels actually have to be on the house. And so when my company that built this house, Polty mortgage, they're scandalous by the way.

, they did not put enough solar panels on the house to actually like, facilitate like the, or like to accommodate the actual. Electricity that is used to run the house because they built an electric. So I have an electric car, I have an electric washer and dryer. It's an electric dishwasher. And, you know all of those things are on this electric meter, so it doesn't it, it, it doesn't meet the capacity, right?

Mm-hmm. , so I actually had to add panels on, but I wouldn't have known that if my. Electric bill, if I hadn't been paying attention to my electric bill, like you're saying, people don't pay attention. Mm-hmm. . So I actually had a true up this month that like usually every month my electric bill will be like $4, $10.

Right. But because it was like this gap between When I paid to have the panels, additional panels put on and the old panels, it was like a thousand dollars bill that came. Wow. So imagine if I hadn't been paying attention and I and I hadn't like looked at like my bill, I would've been like, dang. Like how is that from $4 to a thousand dollars?

You know, and if you average that over 10 months, it's really not that over 12 months, it's really not that bad considering it's just because it covered, you know, there was this gap. Mm-hmm. , but still that's a significant increase. And so I like that hack because like utilities are something, yes. It's gonna show you if there's a problem and something that you can address.

Mm-hmm. . And then there's often things that you can do with your utility company, the utilities companies that a lot of people don't know. that if you actually pay attention to the bills, they'll tell you, like if you like use a c Pap P machine or have any kind of medical devices on your house, you actually can get your energy at a lower cost because you know you have to pay for this equipment that's basically running all the time.

So, little things like that that you might not know. Put things on autopilot. So I really like that hack. I really like that you shared that. I love

[00:28:40] Acquania: it. Yeah. Yeah. And then don't, don't discount negotiation. So if you are having , if you are having difficulty paying your utility bills and it's the debt of winter and your.

Paying for oil, you know, those are definitely things I recall them and attempt to negotiate and resolve because you never know. They might have a low income credit. They might have a program where they can put you at a fixed rate for 12 months and then reevaluate after 12 months. What the rate should be.

I get a lot of different notices in my bill. Mm-hmm. and my emails of what I can do to adjust my payments. So don't discount the good old fashioned conversation with another human being about what your options are if you're struggling to pay your utility bills. Yes, yes, yes. Love it. Mm-hmm. . Yeah. So Still did we forget anything?

Because that's what I do. I go through my bills, I go through my savings, I go through my investments. I definitely go through my beneficiaries. Mm-hmm. periodically. Mm-hmm. , I make sure my estate planning is together and and that it says what I wanted to say. So you knowing that you're going in the hospital soon, you had to look for your medical directors.

But for those out there who don't have those, those are documents you should consider getting asap. Mm-hmm. , because that basically lets other people know, including your family and your doctors. What type of measures need to be taken. In the event you're incapacitated and unable to speak for yourself, so it lets your family know if you want lifesaving treatment, if you want lifesaving measures to be taken, or if you are on life support and you don't want them to keep you on life support.

It says that too. So you have a degree in which you can explain what your wishes are, and then they have to honor that. So make sure that that. Still reflects your wishes and make sure you have a medical directive so that people know what to do.

[00:30:38] Naseema: And let me tell you something, as a nurse that actually admits patients, 99% of my patients don't have an advanced directive, and it's not something that's super difficult.

So, Yes, it is part of my estate plan, but it's something you can do directly with the hospital. It doesn't have to be notarized by an attorney. You can get, you can get it through a regular notary. So it's one of those things that has a low barrier to entry, just get it filled out. And the thing that a lot of people take for granted is, and I know I hear my patients say it all the time, is that, no, my husband is gonna speak for me.

Duh. And I'm just, Not necessarily. What if your mom came up here and was like, really like, no, this is my daughter. This is what she said. How is the hospital gonna know who to talk to? Mm-hmm. . And it's not a given. They don't have to say, they don't have to default to your husband unless it's in this document.

And a lot of people don't think about that. And like, lemme tell you something, if my mama comes up to the hospital, don't listen to her. . We, we ain't cool like that. So I'm just saying like that's why I have to make sure that I have these things in place. You know, one of my baby daddies could come up there and like try to take me off for my life insurance thinking they still on there because until recently they were.

So, you know, like don't listen to them. Like it's gonna say who you can speak to directly. Yes. You know? So that's why I had to make sure mines was in place. Cause people know I'm worth a lot dead. Okay. . So , I gotta make sure the right people is making the right decisions for me. You're not trying to take me out early.

Oh my gosh. That you are

you're hilarious. On that note, I don't, I don't have anything to say. I'm so glad your baby daddies cannot take you out for the money

[00:32:29] Acquania: anymore and that you have done what you need to do to get your

[00:32:32] Naseema: affairs in order. , I definitely have. So you guys make sure you go through the things that Aqua mentioned. I think this is a perfect time to do it.

I think another good time, another good check-in. Is when it's time to do open enrollment. It's a great time to do those things. But anytime you have a critical life event, if you have a birth, a marriage, anything that you're preparing for, these are some things to to do. But just in general, if you have a reminder app on your home, which most people do, just set a date.

Pick today. I don't care. Put it on your map to say do my financial checkups. And these are, and just pick a box. Everything that you need to do and everything that we mentioned here are great things to do. I don't think we left anything out. I think this was pretty comprehensive. This is, yes,

[00:33:22] Acquania: very vulnerable and transparent.

[00:33:24] Naseema: Yes, always girl.

[00:33:26] Acquania: Always

[00:33:26] Naseema: love it . But anyway, thank you. Quiet here for joining us again, as always, dropping gyms. So let people know where they can reach out to you. Yes. And get

[00:33:37] Acquania: in contact. Check out my website, the purpose of money.com, and also follow me on Instagram at the purpose of money. Don't forget the purpose of money where I'm sharing wealth, building tips and strategies to build wealth through life insurance and real

[00:33:52] Naseema: estate.

And she's always going live on there. So if you have some questions you wanna ask, drop into her lives. Thank you again, Aquinas. This has been real

[00:34:03] Acquania: girl. Yes, you're welcome. Bye-bye. Bye.

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