DTGI Group believes that having a solid understanding of the challenges families and individuals throughout North America face is an important first step to overcoming them.

Credit Card Debt & Poor Savings

 If you have high credit card balances, little to no savings and no understanding of how much savings is enough, you are not alone. Nearly 30 percent of Americans say they have more credit card debt than emergency savings; and some 17 percent report having neither emergency savings nor credit card debt.

Too much credit card debt and limited savings can be major threats your family’s current and future prosperity. Since consumer debt can have a negative impact on your future, you have to find ways to avoid it or eliminate it, so that you can build an emergency fund and start saving for your future.


Cost of College

If you’re a parent, you’re probably aware that the cost of a college degree has been increasing steadily, year after year, throughout North America.
In the United States, the cost (tuition, fees, books, room and board, and other expenses) for an in-state public college for the 2013–14 academic year averaged $22,826; while the cost of private college averaged $44,750. Trends like these are likely to persist. So you have to start planning for your children’s education now, even as you continue to meet your day-to-day expenses and save for retirement.


Retirement Savings

Many people face an uncertain retirement. According to a recent study, many U.S. workers say they have virtually no savings or investments. Excluding the value of their home and defined benefit plans, 60 percent of the workers surveyed say their household savings and investments is less than $25,000.
It may be because they do not know how much money they need to save to cover their expenses once they stop working; or they may not earn enough income to start saving.
Today, people face a different retirement reality. The traditional model that saw your parents or grandparents through their golden years – a company pension, a government-sponsored savings plan like Social Security, and their own personal savings – is in upheaval. There are fewer companies offering pensions and government programs are uncertain. Now, people who want a secure retirement have to rely more heavily on their own personal savings.


Social Security

In the United States, Social Security may not be a reliable source of income in the near future. According to recent projections, the program’s key trust fund will be depleted by 2035. That’s why you have to plan for the possibility that you may receive partial Social Security benefits when you retire – or none at all.


Rising Cost of Living

Did you know the amount of money you earn today will have less value tomorrow, and even less 20 years from now? Have you considered the rising cost of living in your financial strategy? To show how this can affect you, take a look at the following example:
If you and your spouse are each 45 years old, earn $100,000 per year and plan to retire in 20 years, and if inflation averages 4.5% during the next two decades, you will need more than $241,000 a year to equal your current $100,000 annual income.


Unexpected Loss

What if you were to pass away unexpectedly? Without proper planning – whether through life insurance and/or emergency savings – your family could face serious financial issues due to funeral costs, credit card bills, and more. Proper insurance coverage can help you guard against the impact of such losses.




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