Most workplaces give you a smattering of benefits, but these benefits often don’t give you complete coverage. For example, most employers only offer 1-2x your annual salary in group life insurance, whereas we recommend having at least 3-7x your pre-tax income. Use our insurance calculator to see if your employer coverage is enough to meet your needs.
Pro tip: A stay-at-home parent may not have a “boss” to report to (besides a finicky three-year-old), however, typical benefits like disability income insurance are still incredibly important. You can look into purchasing individual policies to fill this gap.
No matter where you are in your career, putting money aside for retirement is important, especially if your employer offers matching dollars.
Pro tip: Take full advantage of retirement offerings from your employer. If you’re self-employed, look into opening a Guaranteed Retirement Plan, 401(k) or IRA.
Job transitions can come with a gap in income. As you job search or adjust to a new role, make sure you have an emergency fund to cover unexpected expenses.
Pro tip: Open an emergency savings account that rewards you. Get $100 in rewards when you maintain an Emergency Savings Share Account from Thrivent Federal Credit Union.