At the start of the year, many resolved to become financially fit and save.
But while you Develop Financial Character, one local financial adviser wants you to think about an expense many often forget about.
Isaiah Goodman is the Chief Financial Advocate at Becoming Financial. He is on a journey to help people plan for the cost of death and life.
His father, a former running back for the Green Bay Packers died without things in place for a funeral. It was an expense Isaiah and his wife weren’t expecting.
“Two days before our wedding my father died. Didn't have any substantial life insurance. No investments. No retirement,” he said. “It was all hands-on deck when we were trying to bury our dad. My mom had a little bit of money. We pitched in some money.”
Goodman said he longs for the day when families don’t need to set up Go Fund me accounts to take care of funeral expenses. A recent report by the Associated Press found some families in the U.S. have been priced out of funerals and burials.
Goodman says there steps people can take to plan for financial success. The first step includes budgeting.
“If you can get a solid budget and set aside money and live on less than you make, that will set you up for success,” he said. “I call myself a financial advocate. All the most successful people have saved and invested.”