Chasity Ruffin Your Financial Representative

Chasity Ruffin Your Financial Representative My passion is Financial literacy. Allow me to share with you what we didn't learn in grade school. Let's break cycles together!

The blue print to creating and transferring wealth generation through generation.

07/05/2023

With more than 30 million copies printed and distributed over the years, our How Money Works™ book has changed the lives of countless millions of people since its first rendition was printed in 1983. Visit TheRealHowMoneyWorks.com for a FREE digital book!

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05/29/2023

Insurance And Investing Serve Two Different Objectives
Financial advisor Darren L. Colananni of Centurion Wealth says that investing and insurance shouldn’t mix, and for more reasons than one. First, you have two completely different objectives you're trying to achieve, and life insurance with an investment component tries but fails to combine them into one investment product that does the best job at meeting both sets of needs.

The Bottom Line
At the end of the day, almost everyone I spoke to on this topic had a similar view on mixing investing and insurance. They all seemed to agree most people are better off buying term life insurance that provides a death benefit and then investing the rest.
The premiums for term coverage are significantly less than whole life policies.

The money a person saves on premiums can then be used to invest in a traditional investment vehicle, such as stocks or mutual funds. Best of all, you get to decide how your money is invested when you take on this challenge yourself, and you get to avoid the high fees and hidden charges many life insurance products charge.

08/26/2022

Live Below Your Means

Frugality is one of the qualities that determines whether you’ll accumulate wealth. No matter how they’ve built their fortunes, successful people who maintain their fortunes implement simple cost cutting measures to avoid overspending. Whether they clip coupons, make their own meals, or shop at discount stores, the frugal habits of the rich help them stay that way.

08/25/2022

Pay Yourself First No matter what, most wealthy people “pay themselves first.” Ensuring the first check they write is to themselves allows an automatic percentage of their income going directly into savings and investments so that their money is working for them. They create multiple income sources, contribute to matched employer amounts, and generally avoid debt unless there is a good reason to use the funds.

08/13/2022

"Nothing can bring the person back, but having life insurance meant we didn't lose everything." - Stephen Miller

07/17/2022

If anyone depends on you or your income, you need 10-12 times your annual income in TERM life insurance. This isn't a maybe later.... it's something that needs to happen now. This is the best way to secure your family's future when the worst happens.

07/02/2022

Should I empty savings to pay off debt?

It's best to avoid using savings to pay off debt. Depleting savings puts you at risk for going back into debt if you need to use credit cards or loans to cover bills during a period of unexpected unemployment or a medical emergency.

06/28/2022

401ks and IRAs provide tax breaks authorized by the government to incentivize people to save money for retirement.

Not utilizing them is essentially throwing away money.

Well, it’s true, you need to have it BEFORE it’s needed. Let’s get it taken care of ASAP! You can cover your entire fam...
06/23/2022

Well, it’s true, you need to have it BEFORE it’s needed. Let’s get it taken care of ASAP! You can cover your entire family. Message me for your personalized quote...

06/08/2022

What is compounding?

Compounding is the ability of an asset to generate earnings, which are then reinvested, or remain invested, with the goal of generating their own earnings. Over time, compounding can significantly increase your wealth.

04/24/2022

How much can you contribute to your 401k

According to the IRS, you can contribute up to $20,500 to your 401(k) for 2022. By comparison, the contribution limit for 2021 was $19,500. This number only accounts for the amount you defer from your paycheck — your employer matching contributions don't count toward this limit.

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