Friday | August 17 | 2018

UniFi

The UniFi team is afraid of this girl...

They never should have told me.jpg

MARKET WATCH:
*Market indexes are the value of certain stocks which represent the overall stock market. Learn more here.*

S&P 500  (Standard’s & Poor 500): Made up of the 500 most widely-traded stocks in the U.S. +22.32 (0.79%)

It was a dramatic week in the stock market! Stocks dropped sharply on Wednesday of this week, but by Thursday had almost fully recovered. More on that below.

IN THE NEWS:

It’s time to say goodbye. Well...goodbye to clipboards, forms, high medical bills, and being on the phone with your doctor’s office. Tech giants Google, Apple, and Amazon joined several other tech companies Monday in signing a commitment to make healthcare information sharing easier. Right now, files that contain medical information - such as your x-rays, allergy info, and prescriptions - all exist in digital silos. Making that info easier to share could save the healthcare system up to $30 billion per year (love it). A more integrated system could tell your doctor if a test has already been ordered, or warn you if your prescription medications don’t play well together. Plus, it should make it easier just to see your own medical history. Welcome to the digital age, healthcare. What took you so long?

The stock market may be about to break a major record with its longest upward trend ever. When the stock market is trending upward over time, it’s called a bull market, or a bull run. When it goes down it’s called a bear market. Depending on who you talk to, this bull run (upward trend) has been going on for nine years, but that doesn’t mean it’s been a smooth journey. Wednesday, stocks plummeted sharply as investors reacted to trade disputes with China, and to Turkey’s evaporating economy. Don’t get spooked, though. Trump promised to play nice with China, and that bull was back up and charging

MONEY TRICKS ANYONE CAN TRY:
*Do you have money tricks to add to the pile? Drop us a line.*

UniFi OG fan Ashley loves beautiful things. However, her budget doesn’t always agree with her. In order to keep her budget healthy, and herself from buying everything that’s pretty, she uses what we call the "30-day rule." When she likes something, instead of immediately purchasing she commits to saving it in her online shopping cart, putting it on her Pinterest board, or even cutting out the image from a magazine. If she still loves the item after 30 days, then she considers making a purchase. If not, she knows it wasn’t meant to be (for her, or her wallet).


LEARN IT:

DEFINITION OF THE DAY

Life insurance: An insurance policy primarily to protect the people who depend on you. You pay a monthly fee (premium) so that if you fall off a zipline or get eaten by feral raccoons, your loved ones will get money to support them.

Today we’re looking at the FAQs of life insurance. We know at first glance this topic can seem like a bummer, but don’t worry - we promise this won’t hurt a bit.

1. Do I need life insurance? If you have kids, a spouse, or a parent who depend on you financially, it’s a good idea. If none of these conditions apply, you’re probably ok without.

2. Are there different kinds of life insurance? Yep. The two basic kinds are term and permanent.

  1. Term life insurance expires after a certain amount of years (typically 1-30) and it’s a straightforward “pure” insurance product. If something happens to you while your policy is active, the money gets paid out to a person or organization of your choosing. Simple.

  2. Permanent life insurance includes several different kinds. Permanent policies can last your whole life. The money you pay into them can be invested and can accrue interest. These policies often have a “cash value,” meaning you can get money from them even if you don’t die, and you can borrow money against them. Read up on types here.

3. Which kind is right for me? If you’re ready to buy, definitely seek some professional input. In general, term policies are better if you’re young, healthy, and not making tons of dough. Permanent policies are more expensive and can be better as your age and income increase.

4. Who gets the life insurance money if the raccoons eat me? You choose! The person or organization receiving the money is called a beneficiary. It can be one or multiple people, like your partner or kids, or it can even be a charity or the trustee of a trust.

5. How much life insurance do I need? The rule of thumb is 5-7 years of your contribution to family income. Your weekly float session, fancy gym membership or clothing bill just go towards supporting you. Figure out how much of your income goes towards family expenses, and get a policy worth 5-7 times that amount.

YOUR TURN:
*This section is not sponsored by any third parties. These are our pure, honest opinions on what we think is easy and works best!*

Curious about your life insurance options? Check out Nerd Wallet’s great review of life insurance providers, and get personalized quotes on any policies you like. Baby, that life insurance belongs to you.
 

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