Life Insurance and Financial Freedom

“Life insurance is a way to provide even more certainty, support, and financial security…”

If you are a business owner or have a family of your own, you may have already secured a life insurance plan to protect you, your loved ones, your business and your finances. But, did you know that life insurance can also be used to help you to achieve financial freedom and create financial security even before you have a family? 

Becoming familiar about the different types of life insurance can help you better prepare for the future and develop cash flow too… 

Often times,  life insurance is overlooked and an avoided topic of discussion because many people are too afraid to think of the worst-case scenario or don’t really feel it is something needed at an early age or before starting a family. Due to this, most don’t even want to talk about it and therefore, don’t know how beneficial this type of insurance really is…!

The truth is, for most of us, our families, homes, health and finances are some of the most important areas of our lives. And, most Americans work so hard to protect and take care of many other day-to-day tasks to help build them financially but leave life insurance on the sideline. 

Life insurance has two main different types, usually referred to as term life insurance and permanent life insurance, which only depends on the length they are put into effect. Whole life insurance is the most widely known type of permanent life insurance, and it serves to provide an entire lifetimes worth of coverage, for a whole life, if all required payments and premiums are paid. 

Once choosing and obtaining life insurance, to develop financial freedom and security, certain plans build equity overtime. This can be used as another type of cash flow, as it continues to build cash value on the amount paid. 

Interested in learning more about how you can achieve financial security through the benefits of life insurance? Hiring a financial planner to support you through your journey of obtaining life insurance will help you to choose a plan that can help you to achieve financial freedom. 

ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

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Top Financial Planning Tips

“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for…” 

One of the most avoided financial planning tips is also known to be one of the most effective, and it all has to do with making investments and taking bigger risks! The truth is, business owners who are open to taking a risk every so often, are more often than not, rewarded by seeing the value and financial freedom it brings. 

If you are worried to take risks and make large investments or are often feeling as though you are playing things too safe, you are not alone. But if you don’t begin taking risks soon, what will begin to happen is over time you will feel less and less able to do so, and you won’t allow yourself to maximize your true financial potential. 

So, this is why it is often said, “If I was younger, I would have…” and the older one gets the scarier it becomes! However, if you are ready to maximize your financial security and are in need of support, expert financial planners, like those at ERPS Group can help you to take reasonable risks that are in line with your goals, visions and budget. 

In addition to making investments and taking thoughtful, planned out risks, making investments in yourself, such as through continuing to partake in professional development courses and getting involved in any activities that will help you to learn and grow, will lead to your financial freedom. Self-investments also serve to help you become a more valuable asset, where you can offer more expertise services and have the resources to share more specialized knowledge.  

If you would like to learn more about top financial planning tips that will contribute to your financial freedom, and how to get the best experience from expert financial planners, hiring a financial planner to support you throughout your entire journey will help you to make more decisions that will lead to success! 

ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

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Protecting Your Business with Commercial Insurance

“Financial security all starts with proper financial planning ahead with commercial insurance…”

If you are a business owner, you have probably heard about commercial insurance, as it is considered to be an overall, general insurance policy, which is known to protect businesses, owners, as well as employees. Now, as commercial insurance serves as a general liability coverage, it provides broad types of insurance, which provides security for the general types of business risks. 

So, commercial insurance has different schemes (or policies) to choose from, such as property insurance, liability insurance, workers compensation insurance, and these are all designed to provide extra security and protect businesses from unexpected circumstances that may occur. And, due to the variety of businesses and classifications, you can reap the benefits of commercial insurance if you plan ahead, classify your business correctly and prepare for audits. 

For example, having contracts or invoices for work performancehelps to lower the cost of workers compensation, significantly. What happens is, whatever your broker writes down at the time of opening the policy is all an estimate, the only way for the auditor to check and confirm the price is by completing an inspection or examine of your contract, which will show the type of work your business performs. 

So, to save more money in the long-term when organizing commercial insurancesuch as workers comp, specifically, knowing the right classification rates and which employees will be performing which type of work will help business ownersto pay lower premiums and will also benefit employees, as they will stay protected. For instance, if an owner hires a tile worker or someone for cabinet installation the rate would be much lower verses the rates for carpentry work or machinery assistance.

If you would like to learn more about workers compensation and how to get the best rates from expert financial planners, hiring a financial plannerto support you through your journey of obtaining commercial insurance will help you to choose a plan that will provide you, as a business owner, with the financial security you, your business, and employees need and deserve.

ERPS Groupis a one-of-a-kind financial firm located in Metro New York Citythat offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

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Financial Freedom Through Workers Compensation Insurance

“A big part of Financial Freedom is having your heart and mind free from worry about the what-ifs of life.”

Financial freedom all begins with financial security, which comes along with proper planning and obtaining the right insurance policies. And, most people don’t know this but Workers Compensation (or Comp) Insurance can benefit both employees and employers financially, and especially can support employers in unfortunate circumstances, such as due to an injury, getting sued, or other situations that can contribute to financial loss. 

Workers Compensation Insurance is known for being a “grand bargain” for employees and employers, as it serves as a type of agreement and an arrangement which reduces any potential future conflicts, which can occur in business if an employee has an injury or becomes ill while at work. So, it is important to become familiar with Workers Comp Insurance, to see how it may provide you security if you are a business owner, employer or employee.

The main way Workers Comp can contribute to financial freedom is how it provides a form of protection. For example, if you are a business owner and there was an accident at work, which affected one of your employees or team member, if they were unable to work this policy could help to support them with any medical expenses and cover costs of lost wages on their end. They would know they were secure financially and employers would know they are doing all they can to support their team. This will leave both parties feeling good and secure financially. 

So, if you are an employer or employee, workers comp can serve to protect you and help you to feel secure financially. As a business owner, insuring your employees through Workers Comp can end up being one of the wisest investments you can make, as that coverage will protect both you, your workers and business in the long run.

Interested in learning more about how you obtain financial freedom through securing the right insurance for you? Hiring a financial planner to support you through your journey of obtaining insurance will help you to choose a plan that will provide you, as a business owner, employee or employer with the financial security you need and deserve. 

ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

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The Benefits of General Liability Insurance

“Taking advantage of the insurance benefits available to you, can help you to achieve financial security…”

Nowadays, more and more Americans are deciding to transform their lives to start a business of their own, or work in a freelance type profession, one that provides them with more personal growth, development and financial freedom. With the benefits of self-employment becoming more widely sought out, accepted and well known, more than 15 million Americans have become self-employed in the workplace over the last few years, and are looking forward to be able to reap the financial benefits of this new way of life. 

While self-employment has great benefits, there are still unforeseen circumstances and unwanted things that can occur, which can’t be predicted or controlled. Therefore, it is highly recommended to have general liability insurance and good coverage as an extra form of security. 

The truth is, there are many day to day what if’s that can occur in any profession, which can turn anyone’s entrepreneurial journey and dreams, into an unimaginable nightmare. With financial freedom in mind, it is beneficial to know and understand the benefits of having general liability insurance, as it can aim to serve as a type of protection and a form of security for families and loved ones too.

General liability insurance serves to protect your family, business and financial state. It is often known for being a type of insurance used for business, as it can protect individuals from various types of claims, such as: bodily or personal injury, damage to property and any other accidents or injuries that may arise in a business operation. 

Interested in learning more about how you can reap the benefits of financial freedom through general liability insurance? Hiring a financial planner to support you through your journey of obtaining insurance will help you to choose a plan that will provide you and your business with the financial security you need and deserve. 
ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

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What Are Living Benefits of Life Insurance?

“Live your best life!”

Did you know that you could build cash value through a life insurance policy? Most people are aware of the valuable benefits life insurance can provide, if an unfortunate event occurs. However, life insurance does not only provide benefits when one passes away. Life insurance can also contribute to your life, serving as an excellent resource while you are living!

Life insurance has living benefits that can lead to you achieving financial freedom…

If you want to create financial freedom for yourself and your family while you are alive, you can use the living benefits of life insurance to help you get there. For example, while certain policies grow in value over time, you can tap into this value while you are living, and use this form of cash flow to pay for other financial priorities you have. Such as, a down payment on your house, money for your child’s education expenses, renovation for your house to increase its value, or even for you to create a business start-up.

There are two types of life insurance policies and one in particular that can help you to access these incredible, life changing benefits. The one in particular that can help you to utilize living benefits is called, Permanent Life Insurance. This type of insurance is also known as universal or whole life insurance and it is the insurance that offers these benefits.

Permanent Life Insurance is like owning a home. It’s an asset that you own. It is designed to stay with you for life, and that’s why it is called whole life insurance. So, when you become an owner of the policy, since you pay for it, you begin to build equity on the policy, just like you would build equity in your home, as you pay off your mortgage, and the house appreciates in value over time.

In the world of life insurance, building equity on your policy overtime is known to be another form of cash flow, because it builds cash value on what you pay. This is the case for premiums that you pay as well as when it accrues dividends, which insurance companies pay. And, this grows tax-deferred status.

So, life insurance offers advantages and great value, which you can enjoy while you are living…

Interested in learning more about how you can achieve financial security through the living benefits of life insurance? Hiring a financial planner to support you through your journey of obtaining life insurance will help you to choose a plan that can help you to achieve financial freedom.

ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

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What’s Long-Term Disability Insurance?

“If you rely on your paycheck, it’s smart to protect it with disability insurance…”

Long-term disability insurance is something that most people don’t consider when preparing for financial security and choosing coverage. The truth is, financial freedom all begins with proper financial planning, preparations and preventative coverage, which offers job security in the case of the unthinkable occurring.

Long-term disability insurance not only insures our paychecks and ourselves, it also helps us to protect our family and loved ones…

This specific type of insurance, serves as a policy that protects employees from loss of income, if for example, an individual is suffering from an ongoing illness, accident, or injury, leaving them unable to work as per usual. Long-term disability coverage is especially important to ensure financial security, as research shows that most employees with an ongoing illness or a long-term disability, can miss up to two to three working years, causing a major impact on their income and financial security for themselves and their loved ones.  

So, hypothetically, if you had an accident or injury and as a result, found yourself unable to work, would you be able to support yourself with the resources you have right now to cover all expenses for up to months, or even two or more years? Would this impact your family and your financial goals?

There are individuals and families that have to ask themselves this difficult question when it is already too late. Not having the proper coverage has unfortunately left a great amount of Americans feeling emotionally distraught and financially devastated. However, those who have prepared in advance and secured the right coverage, if the unforeseeable occurs, long-term disability insurance will help people to get through a difficult time without having any financial concerns.

So, how does this type of insurance work in your benefit? Long-term disability insurance will provide a monthly income if an insured is left without the possibility of working due to a disability. Before receiving this security, an individual must choose a time period they would like to receive their benefits. For example, one must choose the amount of years of benefits or up until a certain age that they would receive this form of security. Payment amounts will vary depending on an individual’s occupation and monthly income, but most companies offer you the ability to customize a plan that will meet desired needs.

Hiring a financial planner to support you through your journey of obtaining long-term disability insurance will help you to choose and customize the right plan for you…

ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.
ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

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Why Life Insurance Is So Important

“You don’t buy life insurance because of unforeseen circumstances, you buy life insurance because you want to make sure that your loved ones are always protected…”

Most people know that there are numerous benefits of having life insurance, but the truth is many people choose to go without, as they are unable to think of the worst-case scenario, and also, feel scared to think of the idea of an unfortunate event arising. However, there is a different way to look at life insurance and it is essential to understand why it is so important, especially if you have children, families and loved ones!

So, let’s take a moment to look at life insurance through a different perspective…

Not having life insurance can have a devastating effect on your family and loved ones, leaving them without financial security, unable to maintain their lifestyle and live their dreams. And, right here and now, you can ensure that they never have to go through that kind of tragic scenario.

Protection is the key reason why you would want to consider buying life insurance. Having this type of certainty can provide your loved ones with immediate cash from death benefits, which are tax-free and can help your family in the case of any unforeseen circumstances.

This is considered to be one of the most important types of responsible planning, especially for those with children and families. Most parents want to make sure their children will always be taken care of if anything happens to them, which might be a college education, or whatever their life ventures and dreams may be. And, planning ahead can give you piece of mind in knowing you did all you could for your family to live their best lives, should something happen to you.  

Purchasing life insurance ahead of time serves to help surviving family members, loved ones and other beneficiaries. And, this form of financial security will help to pay their monthly bills, so they don’t have to worry about any financial burdens, all while they have the proper amount of time to grieve and take the time they need.

Interested in learning more about life insurance and not sure where to start? Hiring a financial planner to support you through your journey of obtaining life insurance will help you to choose a plan that is right for you!

ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results and support in choosing the perfect life insurance plan. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

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Smarter Bookkeeping Habits

“Making good judgments when one has complete data, facts, and knowledge is not leadership – it’s bookkeeping.”

You might have discovered that by owning your own business you’re constantly faced with issues here and there that you have to resolve on an every single day basis. These issues are on top of considering how to keep track of the financial aspect of your business, in regards to reports, due dates, and understanding what all the numbers mean.

I’m sure you would rather do what you enjoy most and just focus on running and developing your business. That’s why you became the business owner in the first place! Here are two questions to think about to help build your business operation for success and begin developing smarter bookkeeping habits:

How can you develop smarter bookkeeping?

Bookkeeping helps you to keep track of your profits, payroll, financial statement, tax and payments. It helps you to stay organized and stay on top of any payments that need to be made. Bookkeeping can help you to build your business by being able to see the profit you have made and see where changes need to be adjusted.

ERPS Group Feedback: To get started with smarter bookkeeping, answer the following questions: What are your gross sales? How much do you have to pay back? Did you make any profit this month? How much was the profit? How much is your payroll? How much tax and insurance do you pay? Are you up to date with all of your payments? Once you answer the following questions, you will be on your way to smarter bookkeeping!

Why is smarter bookkeeping essential to business success?

No matter the size of your business, making sure that your bookkeeping is up to date and readily accessible is essential for running a successful business. Bookkeeping can help you keep track of how your business is running, which can be used to develop stronger business plans moving forward. It can enable your business to grow well and improve your company’s performance.

ERPS Group Feedback: Do you check your financial statements monthly? There is much more to keeping the proper sets of books then meets the eye. In fact, we know that tax preparers and payroll services reveal that you need to be able to answer questions about your financial statements at any given time if you would like to build a successful business operation.

ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

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Why is Cash Flow SO Important?

“Never take your eyes off the cash flow because it’s the lifeblood of business.” 

What is cash flow? How can you use cash flow to benefit your personal life and your business? And what is a cash flow statement?

Cash flow is money that is constantly flowing and moving, out of and into your business each and every month. Sometimes it might seem as though your cash flow is only moving in one direction, out of your personal accounts and your business, but the truth is, it flows in many directions…

Yes, cash flow needs to go out of your business account each month, as it covers necessary expenses, like rent or even a loan or mortgage payment. However, cash flow is also coming into the business each time a payment is made from your loyal clients and customers who have purchased your products and services. 

When thinking about cash flow, what every business wants to achieve is “positive cash flow” which is when you have a greater amount of money coming into your account rather than having additional expenses and having more money have to go out.  

If you are a business owner or just beginning to start a business, understanding the importance of cash flow and how to use a cash flow statement is particularly essential for business success. 

You need to know what you can ask your accountant and how to be able to read your financial statements if you want to have successful business operations, and if you want to take your business to the next level. This will help you to grow and create financial freedom for yourself.

A cash flow statement summarizes the amount of cash coming in and out of your business account. It’s the amount of money of that flows and moves through the business account. The cash flow statement is a financial statement that will complement a balance sheet and the most common statements, a nonprofit and loss statement or the income statement.

It shows how much money came into the account and then, how much went out of the account. And it’s beneficial for you to know this as well as lenders, because if you would like to apply for a loan, most banks will ask to see a cash flow statement.

Interested in organizing and preparing a cash flow statement? ERPS Group is a one-of-a-kind financial firm located in Metro New York City that offers a differentiated approach to helping people to achieve enduring financial results. They offer effective strategies that help to bridge the gap between financial freedom and personal or business goals.

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