Life Insurance Basics

I know what you’re thinking…”oh, here we go…life insurance.  here comes another sales pitch.” No way!  I hate salesmen!  I want to 1) explain what life insurance is, 2) state how and when it benefits you, and go over how to determine 3) the appropriate amount you should have.  And once you understand these facets of life insurance, I believe you’ll see life insurance as a must have, instead of an unwanted expense. WHAT IS LIFE INSURANCE, AND HOW IS IT A BENEFIT? Life insurance provides stability of lifestyle while you sort out all the craziness that ensues after a loved one is lost, which can easily be one of the most difficult events to encounter.  For a moment, close your eyes, take a deep breath, and imagine that the person you love the most on this planet has passed away without life insurance.  The first obstacle you’ll deal with is paying for the funeral.  In 2015, the average funeral cost in America today ranges from $8,000 to $15,000.  Does your spouse or loved one have that sitting in a bank account.  It doesn’t sound like much, but most American’s simply don’t have it.  And that leaves you, the grieving loved one, to come up with $8,000 to $15,000 within 72 hours of death.  Can you imagine that?!  That is a HEAVY burden to bare.  NOW, think of a whole different scenario wherein the spouse or family calls the fallen loved one’s financial professional, and receives a hefty check which will cover the funeral, pays off any debt outstanding, and your day-to-day expenses for the next few years?!  Um…Heck Yes!!...

Why I began DavidThompsonFinancial.com

It is often in those small times of quiet that a person truly finds themself.  It can happen during meditation, or in a crowded movie theater, or while taking a walk in a park.  A feeling comes over you like a ton of bricks, almost as though it physically hurts.  And in that moment, something is revealed to inspire growth or movemement. When a man takes a chance on a better life, and is beaten, not once but time and time again, why does he continue? Why would anyone subject themself and their family to that? To build a better life. To look his family in the eyes at night, knowing that he’s done everything in his power to create a better life. A better life for the man in the mirror. A better life for the wife he promised to “to have and to hold…until the end do days”. A better life for his kids. A better legacy of himself…not necessarily to be remembered after he dies, but rather, to leave this world a little better than when he entered it. To help folks that need direction, clarity, advise, or simply a good word. What I am building is not about me. It’s not about how you will remember me. It’s about taking care of my family, showing them what God looks and acts like, so that they will one day “pay it forward”. I’m building a business about people. Financial Independence is the goal…for myself and my clients. I would like to help you. Name(required) Email(required) Phone(required) Comments(required)...

What Happens When You CARE

    I must say that I’ve learned a tremendous amount about how to create and grow a successful business, but the most valuable lesson is to CARE. Sure, I can be the best financial guru on the planet, but if you don’t trust me, and if you don’t see that I truly care for you, you’ll go elsewhere.  Caring is an important skill, and it takes much effort to master it.  Why?  Because to care, I must be unselfish about my own wants and desires, and I have found that if I quit worrying about my own well-being, and just focus on you, I will be rewarded.  I cannot out-give God.  It doesn’t make sense in my financial brain, or on a sheet of paper, but the more I focus on you guys, the more I am rewarded.  But, where does this all start?  It starts with TRUST. I have built TRUST RELATIONSHIPS with my clients over time.  And once that foundation of trust is built, I am able to walk with you guys through your day-to-day lives, year after year, life-change after life-change, and because I come to know a bit about your goals and dreams, I am able to help guide you to achieve it, with the least minimal risk. I’ve found that every potential client I meet with is SKEPTICAL because their life experiences have taught them to be skeptical of financial know-it-all’s who make all sorts of claims, but most simply want to lure you into buying or investing in the products or services that creates the most income for the financial guru.  Am I...

The Emergency Fund

Any rock-solid seminar or book on the topic of handling one’s finances will most certainly involve the strategy of an emergency fund.  But why?  Well, at a glance it seems so easy.  Just put away a certain dollar amount, usually $500 or $1000 to start.  Here’s the problem that almost no one will be honest enough to tell you…you’ll have an emergency almost every month, and the only way to stay on track is to continue to feed the emergency fund.  And over time, your (LARGE) EMERGENCY’S will only be (small) emergency’s and then as more time goes by, you’ll have less and less (small) emergency’s.  This is not necessarily because you’ve become lucky.  It is, rather, because you begin to become sensitive about the emergency’s that you encounter, you’ll be more able to be pro-active in dealing with them, as opposed to re-active, which is what you are when you operate without an emergency fund. A simply story…when we began my journey, we started with a $250 emergency fund.  Why not $500 or $1000, as the professionals suggest…because I didn’t have $1000 and just the idea of ever having $1000 sitting in a bank account not doing anything except waiting for an emergency was mind-blowing.  But, I did it.  In the beginning, I drained that thing every single month to pay for things that I deemed emergency’s.  But, as I stated above, it was them that I began to see those things coming: oil changes were going to happen every 3 months, and they usually cost the same amount, and those 5-week months at daycare (oh man, those...

FREE FINANCE COACHING?!

When I began this venture, I asked myself a seemingly simple question, “Why is it that folks have difficulty with obtaining financial wellness?”, and “How can I help them?” I had already helped many friends and family members, and quite well might I add, and so I knew that I could help others, but of course, I wanted to become a millionaire, too.  I mean, after all, isn’t that what we all want?  To do what we love, get paid to do it, and make a million dollars in the process, so that we never have to work again.  But, as I began my journey, I began to notice that I was concerned about the dollar above all else.  I had let GREED seep into my life. And so, I went back to the basics.  I spent a few days doing nothing but thinking, deep thinking.  Trying to uncover how I could obtain what I sought out to do when I began this business without losing my soul in the process.  And what happened next astounded me… I read the following passage in the Bible… Proverbs 11:18, 25, 31 “The wicked man works a deceitful work: but to him that sows righteousness shall be rewarded.” “The liberal soul shall be made fat: and he that waters shall be watered.” “Behold, the righteous shall be compensated in the earth: much more than the wicked.” Then, of course, there’s the whole story of Job, who had obtained extreme wealth, lost it all, then due to his unwavering faith, received it all back, and them some. As I read, I felt the...