Virtue #3 – What is Stock?


What’s Happening?
Last month life was a little busy with the holidays, however, here is an update on Virtuous Financial Group. We are well on our way and I am excited about the growth that is happening thus far. The website, monthly newsletter and webinars are starting to pick up traction. If you have not subscribed to the newsletter, you may do so here. Last week’s webinar Naughty or Nice? Holiday Budgeting Behavior was a hit.


What is Stock?
Prospective client meetings have brought up the question many times “What is stock?”, so let’s address that question now. Stock is equity or ownership in a company. Stock can be purchased in a 100-share minimum through a brokerage account. Brokerage accounts are offered through companies such as Charles Schwab or TDAmeritrade. Imagine a pie that is cut into small slices. When buying stock, you are purchasing your share or slice of the whole pie. Stock is bought and sold on the stock exchanges. Investopedia explains it all here.


Death Preparedness Kit
A Facebook friend’s spouse died unexpectedly, at a young age, within the past couple of days. So, how do you prepare for the death of a loved one? Many companies train their employees on their emergency preparedness procedures, but many families forego preparing for an unexpected death in their households. When selecting coverage, many people choose a random number of coverage and forget to figure out if there is enough coverage to handle the expenses that are needed as soon as tomorrow. I truly empathize with my friend and her family, but this happens much too frequently. Death is always unexpected, so we must prepare and protect our families. Here are a few tips to get your death preparedness kit started.
• Update all beneficiary designations…no one wants an ex-spouse to get their money if that is not what they really intended to do.
• Set up a liquid emergency fund (in a checking or savings account and can easily be withdrawn) that holds 3-6 months income to handle expenses in case there is a delay in accessing burial funds.
• Have enough life insurance coverage either through work, outside insurance providers, or a combination of the two to cover at least 10 times the household income. An alternative to this method is to calculate the amount of coverage needed based upon the amount of household expenses to cover upon a family provider’s death.


Merry Christmas!
December is a very exciting time for me. I celebrate my birthday and Jesus’s birth. During this time of the year, remember the reason for the season, and give to those who are less fortunate.

Photos courtesy of www.pexels.com.

The information provided in this blogpost is for educational purposes only, and should not be considered advise. For individualized recommendations, consult your financial advisor.