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You may make better financial decisions when you improve your financial literacy

You may make better financial decisions when you improve your financial literacy

April 03, 2024
You may make better financial decisions when you improve your financial literacy

Did you know that 15% of people said their lack of financial literacy cost them $10,000 or more in 2022?1 With April being financial literacy month, it’s a great time to boost your personal finance knowledge.

Below, I’ve rounded up some resources to help improve your financial education, with insights on timely topics related to Autism Awareness Day (4/2), National Retirement Planning Week (4/13-4/17), and Tax Day (4/18).

How can greater financial confidence help you?

Financial confidence is the feeling that you can rely on yourself to make good financial decisions. And research shows that financial confidence is closely tied with overall emotional confidence. So how can you boost your financial confidence? Read this article to learn four model behaviors of the most financially confident US workers.

Ways to use your tax refund

Are you one of the millions of people who will receive a tax refund this year?2 If so, check out this guide for ways you can use your tax refund to improve your financial confidence. Whether it’s put towards savings, used to protect your family, or something else, a tax refund can be a mini financial windfall that can help you achieve your financial goals.

Plan for your retirement reality

Retirement means something different to everyone. Some people want to move somewhere new, while others want to stay where they are. And some people want to volunteer, while others still want to spend a little time doing the work, they’d been doing full-time beforehand. Whatever your retirement dreams are, making a concrete plan will help those dreams become a reality. Explore this retirement resource to take a retirement quiz and learn about ways to help create the best future for you.

How does an annuity work?

An annuity is a contract between an individual and an insurance company. Annuities can be very useful for generating income during retirement, and they come in many shapes and sizes. The individual gives the company a sum of money, and in return is promised a periodic payout for a stated length of time or their lifetime.3 Learn more about the different types of annuities by reading this article.

Retirement planning keeping your child with a disability in mind.

The retirement planning process is more complex for parents of children living with a disability as they also consider planning for their child’s future and well-being for when they, themselves, will no longer be around. A special needs trust can be a beneficial tool to help provide for a child living with a disability but there are several complexities to work out. For example, funds should not be left directly to the child. Check out this article to find out why and to learn other considerations for special needs trusts.

¹Cost of Financial Illiteracy Survey 2022, National Financial Educators Council, January 5, 2023

² Guardian, its subsidiaries, agents and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.

³ Contract guarantees are guaranteed solely by the claims-paying ability and strength of the issuing insurance company.

Brought to you by The Guardian Network ©2023. The Guardian Life Insurance Company of America®, New York, NY.

Material discussed is meant for general informational purposes only and is not to be construed as tax, legal, medical, or financial advice. Guardian, its subsidiaries, agents and employees do not provide tax, legal, medical or finance advice. Consult your tax, legal, medical or finance professional regarding your individual situation.

2023-152239 Exp. 03/25 *pre-approved content*