GOLDEN VALLEY, Minn. - If something happened to your spouse or partner, would you and your family be financially protected?
A new report from the Corporation for Enterprise Development shows 24 percent of Minnesota families don't have adequate savings to survive for three months if faced with a sudden loss of income.
April is financial literacy month and Shannon King, with the Financial Planning Association of Minnesota, joined KARE 11 News @4 with a checklist of what families should do when it comes to financial literacy.
Shannon says these are the questions you need to discuss with your family.
- Do you have an up-to-date will?
- Do you know the primary and contingent beneficiaries for your retirement accounts and life insurance?
- Have you reviewed your investment mix in the past 12-months?
- If something happened to you, would your family know where to find all of your needed financial information?
Shannon King can be contacted at SilverOak Wealth Management in Edina.
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