NEW YORK, April 1, 2015 /CNW/ - Ever since the US Senate designated April as Financial Literacy Month 12 years ago, Americans have been encouraged to learn what it takes to become financially secure. This year, First Investors plans to take that concept one step further by creating financial literacy programs for each stage of a person's life.
"Life is not stagnant and neither is a person's financial situation," explains Paul Prete, Vice President, for Retirement Programs at First Investors. "At First Investors, we understand that the needs of a millennia are not the same as a married couple with two children nor a 60-year-old nearing retirement," he explained.
Today, there is a lot of information to help people make financial decisions. A recent search on Amazon yielded close to 69,000 personal finance books. Between books like these, cable television shows and the Internet, people are bombarded with information and choices about how to attain their future prosperity. However, the challenge is finding the time to gather the information and then trying to decipher it to make a very personal decision about what's right for you.
"There is no cookie cutter approach when it comes to personal finance because it is so personal," says Prete. "A solid financial plan must take into account where people are in their life, their current income and expenses, long-term goals and risk tolerance. Only then can a custom designed plan be created and implemented. That's why at First Investors, we train our Representatives to educate their clients based on where they currently are in their financial journey," he added.
Of course, a plan will only yield results if it's properly executed. A knowledgeable professional can not only help to create an initial financial plan, but also equip investors with the ongoing support they need to see their plan to fruition, so they can stick to it in both up and down markets.
If you've been putting off taking a closer look at your finances, take advantage of Financial Literacy Month this April to schedule an appointment with a Representative in your area. Together, you can create a customized strategy. Or, if you already have a plan in place, maybe it's time to reexamine it and make any adjustments that are necessary to keep you on track. Remember, the more information you have from a trusted, reliable source, the better able you will be to realize your financial goals.
About First Investors Corporation
First Investors is a diversified financial services company helping everyday families reach their financial goals, offering solutions such as investment products, and life insurance as well as strategies spanning saving, investing, education funding and retirement. First Investors Corporation and First Investors Life Insurance Company are subsidiaries of First Investors Consolidated Corporation. Securities products are offered through First Investors Corporation. To learn more about First Investors please visit us at: www.firstinvestors.com
For 140 years, Foresters™, an international financial services organization, has fulfilled its purpose to enhance family well-being for its members and the communities where they live. A fraternal benefit society, Foresters offers quality life insurance and investment products, unique member benefits and inspiring community activities. Foresters shares its financial strength with more than one million members in Canada, the United States and the United Kingdom. Foresters has assets of $10.5 billion, total funds under management of $25 billion and a surplus of $1.7 billion (all figures in Canadian dollars as of December 31, 2013) and maintains an "A" (Excellent) rating by A.M. Best1. Foresters subsidiary Foresters Life Insurance Company's rating is "A-" and First Investors Life Insurance Company, also a Foresters subsidiary, received an "A-" rating. For more information, visit foresters.com.
Foresters™ is the trade name and a trademark of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9; its subsidiaries are licensed to use this mark.
1 An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In assigning the ratings for The Independent Order of Foresters (Foresters) and its subsidiaries Foresters Life Insurance Company and First Investors Life Insurance Company on July 2, 2014, A.M. Best stated that the outlook for all ratings is "stable", which means they are unlikely to change in the near future. See ambest.com for the latest ratings.
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