LNT Investment Financial Insurance Directory_042424

Want peace of mind with your finances and insurance?

Look inside for local businesses you can trust.

Benjamin F. Edwards

1701 4th St #101

Peru, IL 61354

815-220-0588

benjaminfedwards.com

Cyr Financial

220 E. High St. #102

Hennepin, IL 61327

815-925-7501

www.cyr nancial.net

Dose Insurance Agency

120 E Walnut St, Oglesby, IL 61348 (815) 883-8616

doseagency.com

Financial Plus Credit Union

2813 Plaza Dr.

Peru, IL 61354

815-223-6602

www. nancialplus.org

1905 13th Ave.

Mendota, IL 61342

815-539-3444

www. nancialplus.org

First Federal Savings Bank

1600 38th StreetPeru, IL 61354 (815) 224-3100

https://www. sbweb.com/

475 3rd StreetLaSalle, IL 61301 (815) 224-4400

https://www. sbweb.com/

Why young adults should invest in a life insurance policy

(BPT) - Life insurance is for people of all ages, not just parents and grandparents. While life insurance needs vary by age and stage of life, it’s a good idea to invest in a life insurance plan while you’re young.

If you’re in your 20s and 30s, life insurance may not seem necessary, but it’s a useful tool to have at any age. Check out these three reasons provided by State Farm® why life insurance should be a priority for young adults.

THE BEST TIME TO GET COVERAGE

As a young adult, life insurance probably isn’t top of mind, but it’s the best time to get coverage. Since you’re young and likely healthy, you’ll typically qualify for more affordable premiums. Because you have a relatively long life expectancy, insurers see you as less risk than older individuals.

You don’t have to apply for an expensive, comprehensive policy. Start with a small pol-

icy in your 20s that fits your budget to build the foundation of your financial security. You can always expand your coverage throughout your life.

PLANNING LIFE AND EXPANDING COVERAGE

When you experience a life change, like marriage or kids, you should evaluate and expand your coverage as needed. By the time you’re in your 30s, you may have children and a mortgage or plan, which makes the financial protection offered by life insurance more important than ever. For example, life insurance coverage can help cover your children’s education costs if tragedy hits and you are no longer there to provide for them.

If you don’t have kids or a house payment but are planning on expanding your family or purchasing a home, don’t wait to bolster your coverage. Now is the time to make sure you are fully insured, as rates typically rise with age.

SECURITY AND PEACE OF MIND

It’s not pleasant to think about you or a family member passing. Still, should the unexpected happen, you’ll want to be covered. According to the Life Insurance Marketing and Research Association (LIMRA), too many families are at risk of financial insecurity should their primary wage earner pass away. In fact, the association found that 44% of U.S. households would feel financial hardships within six months of their primary wage earner’s passing.

A life insurance policy pro vides your family with security in the event of your passing and provides you with peace of mind knowing they’ll be covered after you’re gone. In addition to paying for col lege and providing income to your loved ones, it can help them cover funeral, burial and cremation costs. According to State Farm, the average funeral typically costs around $8,000, a hefty expense to

try to cover when you’re already grieving the loss of a loved one. Final expense insurance (or burial insurance) can help relieve the financial impact of a funeral.

If you want to protect your future now but have questions about what coverage you need and can afford, visit www. StateFarm.com or the State Farm app to talk with an insurance agent.

First State Bank

Mendota (815) 538-2265

McNabb (815) 882-2146

Peru (815) 224-4484

Ottawa (815) 433-3727

Princeton (815) 872-0002

LaMoille (815) 638-2398

www. rststatebank.biz

First State Insurance

715 Washington St.

Mendota, IL 61342 (815) 539-5651

385 Chicago Rd.

Paw Paw, IL 61353 (815) 627-8552

Hartauer Insurance

613 1st St.

La Salle, IL 61301 (815) 223-1795

Hartauer.com

Hometown National Bank Member FDIC

260 Bucklin St, La Salle, IL 61301 (815) 223-7300

myhtnb.bank

State Farm – Kurt Bruno

1103 Main St.

Mendota, IL 61342 (815) 539-3878

State Farm – Cody Burroughs

313 S Spalding St.

Spring Valley, IL 61362 (815) 664-5302

362 3rd St.

La Salle, IL 61301 (815) 223-1059

State Farm – Lori Janko-Wilke

2025 Rock St.

Peru, IL 61354 (815) 223-2118

State Farm – John Pini

State Farm Insurance Agent

445 W Walnut St, Oglesby, IL 61348 (815) 883-8090

State Farm – Jessica Strauch

State Farm Insurance Agent

1631 4th St, Peru, IL 61354 (815) 223-1900

Wayland Financial Group

613 1st St.

LaSalle, IL 61301

815-224-1889

Witek Wealth Management

613 1st St.

LaSalle, IL 61301

815-223-3332

www.witekwealthmanagement.com

What is passive investing?

A small percentage of investors may have the skill, savvy and iron stomach to excel with short-term investments. But most people feel more comfortable with less risky, long-term investments. For such individuals, one strategy worth considering is passive investing.

WHAT IS PASSIVE INVESTING?

Passive investing utilizes a buy-and-hold approach to gradually build wealth. Shortterm fluctuations in stock prices do not affect passive investors, as one of the principles of passive investing is that markets will post positive results over time. So passive investors do not react with alarm when prices temporarily drop, even if they drop by a considerable margin.

WHAT IS AN INDEX FUND?

Index funds are one of the most recognizable forms of passive investing. The investment experts at Vanguard,

the company that first started offering index funds, note that an index fund contains a preselected collection of hundreds or even thousands of stocks or bonds or a combination of both. The theory behind this is that, even if one stock or bond is performing poorly, another within the portfolio is doing well, thus minimizing losses and saving investors the time and effort of tracking, as well as buying and selling, individual stocks or bonds.

DIVERSIFICATION AND PASSIVE INVESTING

Conventional investment wisdom has long touted the benefits of diversification when investing. When investors put all of their eggs in one basket, they could then lose all of their investments if the value of that investment goes south. As previously noted, index funds include a collection of stocks, bonds or both,

thus providing investors with sufficient diversification that can serve as something akin to a safety net when the values of certain stocks or bonds within the portfolio dip. Though no investment strategy can claim it is free of risk, passive investing through a vehicle such as an index fund can be a low-risk way to grow wealth over time.

CRITICISMS OF PASSIVE INVESTING

The investment resource Investopedia cites lack of flexibility and smaller potential returns as two significant drawbacks of passive investing. Passive investment funds are limited to a predetermined set of investments that don’t

often vary, if at all. That might be not sit well with individuals who prefer a more active and flexible approach to investing.

Big returns also are less likely with passive investment funds, as these funds are designed to track the market, not beat it by a wide margin. Individuals with long-term investment strategies likely won’t be turned off by this, though those looking for bigger rewards (which, notably, carry bigger risk) may be underwhelmed by the returns on passive funds.

Passive investing is a sound investment strategy for individuals who want to grow their wealth over the long haul. MM22C519

Whether you are just starting out, entering midlife, nearing retirement, or are ready for retirement – Witek Wealth Management can assist you on every step of your life journey by creating a detailed plan to help you pursue your financial goals.

Kurt Bruno 815-539-3878

Cody R. Burroughs 815-664-5302

John Pini 815-883-8090

Kurt Bruno, Agent 1103 Main Street Mendota, IL 61342 815-539-3878 kurtbruno.com

Cody R. Burroughs, Agent 313 S. Spalding Street Spring Valley, IL 61362 815-664-5302

www.myagentisjessica.com We’re

362 Third Street LaSalle, IL 61301 815-223-1059

cody.burroughs.u83j@statefarm.com

Lorita Hellman, Agent 324 N. Main Street Princeton, IL 61356 815-875-2393 lhellman.com

John Pini, Agent 445 W. Walnut Street Oglesby, IL 61348 815-883-8090

john.pini.bzi0@statefarm.com

Lori Janko Wilke, Agent 2025 Rock Street Peru, IL 61354 815-223-2118

lori@jankowilke.com

Jessica Strauch, Agent 1631 4th Street Peru, IL 61354 815-223-1900

Lorita Hellman 815-875-2393

Lori Janko Wilke 815-223-2118

Jessica Strauch 815-223-1900