5 Hidden Financial Risk

SOME years Americans have an economic crisis. The concept of financial risk caused share prices rise and fall. All financial risk is revealed in the news. However, many people risk hidden in their personal finances, including:

1. Divorce
When your wallet married couples join. However, if the divorce is a complicated matter. Besides the marriage ending costly. Call it in the U.S., the average divorce costs ranged from U.S. $ 15 thousand to $ 25 thousand. In addition to the exorbitant financial cost, divorce is painful and emotionally stressful.

How to avoid the financial risk of divorce is when starting a prenuptial agreement specify how each of your assets and your family are protected. Be sure not to talk at length about finances and financial goals before marriage.

2. Not having insurance
More than 50 million Americans do not have health insurance. When they lose their jobs and suffer from certain diseases, can not afford the cost. Assuming they do not buy insurance individual coverage and was considered too expensive. Medical bills are the cause of 60 percent of bankruptcies in the United States.

3. Staying too long in one job
One of the biggest risks in employment is stagnant career. If you do not learn new skills in other words do not move up the career ladder at risk of stagnating incomes.

4. Living in the old neighborhood
Many people who worked all their lives to pay for the house and gradually loses its value. This risk is very difficult to realize. It is better to sell your home rather than hold on to a house in the wrong neighborhood.

5. Life is too long
People often focus on the purchase of life insurance. But do not plan for the possibility they will live until the age of 90 years or more. The purpose of the financial plan must be longer than the age of your life. Another option to avoid longevity risk in retirement is to purchase an annuity, an investment vehicle that gives you a monthly income.
..