Smart Money: What is life insurance?

When it comes to life insurance, there is a lot of misinformation and lack of education. There are 5 types of life insurance available on the market: term, whole live, universal life, variable universal life (I do not offer this product.), and indexed universal life. Term is the cheapest, but it expires after a certain period and you may be left without coverage or your coverage premium spikes. Whole doesn't build as much cash value, but these are the two most people know about. Variable is invested in the stock market and if you die at the wrong time, you could have less than your face amount to leave behind. Universal life builds at a set percentage, and indexed builds at a percentage based on the market. Of course if you just need coverage, you should find an agent who is honest and willing to share all of this with you so you can plan accordingly. I would love it if people did pay their policies for the year at tax time.

When I meet with potential clients, I start by completing a financial analysis. This is a very important tool when deciding which of these products best fits their current needs and their goals.

I use the DIME theory of insurance.

• Debt - how much consumer debt do you have? This can be covered with a term insurance policy.
• Income - how much income needs to be replaced for 8-12 years? This  needs to be covered with a permanent insurance policy.
• Mortgage - how many years and how much remains on your mortgage? This can be covered with a term insurance policy.
• Education -  how many children do you need to fund through college if you pass away before they get there? This can be covered with a term insurance policy.

Some people are firmly set against life insurance, and of course it's their right to choose one way or the other, but we readily insure cars, phones, homes, apartments and all kinds of material possessions without regard for the vehicle that we use to make the money to make these payments: our bodies/lives. If an individual has other means to replace their income, pay off their home, settle all their debts, pay for their children to maintain life and attend college after they are gone, and have their money work for them, I applaud them! The benefit, in my opinion, of investing with life insurance is that it gives you protection on your life while making you money at the same time. It's a great place to start your investment plan!

Life insurance is a contract that you purchase from an insurance agency that allows them to invest your money for a certain period of time. In exchange, the agency promises to pay your beneficiary upon your death and to pay you interest along with payments for any other provisions specified (disability income, long term care, children's insurance, etc) for a specified amount of time and money. Term contracts do not offer cash value accumulation. You can pay for your contract in small increments or in a lump sum.When you die, the company will then pay your beneficiaries your contract. This is how and why wealthy people (white or black or other) pass down wealth to their families. You don't pay $250k for a $250k contract, you only pay $26,520.95 and you own it. These are the things that more people need to be aware of! Let's kill the stigma around life insurance by becoming educated about how to use it and protect ourselves and our families while we can!

Mompreneurship: How can I find the balance between being a mom and an entrepreneur?

How can I find the balance between being a mom and an entrepreneur?

I ask myself this question on a regular basis, and I could not find the answer! Between running Blessed Body Brand, Prosperity Legacy, LLC, PHP, and another opportunity that is just getting started, I was running out of ideas to keep my child and my ventures in balance! It was getting way out of hand! My son had barely any structure, he was going non-stop because I was going non-stop. In April, when i got my "new" car, I drove over 2,000 miles in less than 3 weeks. he was with me for just about every mile. By the time we got back home, we were both exhausted, but it wasn't until I connected with Soribel Martinez that I realized how much my efforts to build my business were interfering with my efforts as mom!!

I wasn't neglecting my son by any means. He was fed, bathed, hugged & kissed, and told many a bedtime story, but I wasn't talking to him as a person! During my first session with Soribel, she helped me to discover my actual parenting style and how I could become a more active parent. In our next session, we discussed some strategies to implement to begin the process of balancing my businesses with my most important relationship! I'll share a few with you.

1. Set a schedule and be CONSISTENT!
2. For every hour of work, spend at least 15 minutes interacting with him.
3. Create a vision board to help explain why mommy is working and give him his own job to do while I work.
4. Take better care of myself: relax in a hot tub, paint my nails, talk on the phone, read a book, etc. A cared for mommy is a caring/capable mommy.
5. Set clearly defined expectations, consequences, and rewards.

I immediately set to work putting these things into place, and although I am still working on being consistent, I can see such a marked improvement in my son's behavior! He loves doing his Morning 4, and he loves talking about our goals! His goals include a Thomas Train table, a big birthday party, and a trip to the GA Aquarium! I had no idea that he had so much input until I actually took the time to sit down with him and talk. Having a conversation with a three-year old is not always fun and giggles. He is such a well rounded individual that I can't help but to be amazed at the way he speaks and what he wants from life at such a young age!

Don't make the mistake of assuming that just because your child is young that they don't have an opinion and they just go with the flow. You will likely find that when you start to include them in the process, they are very receptive to helping and are full of ideas!! I am so excited to spend more time with Sori!! The next class is going to be June 6th, 2015. Sign up for Active Parenting Training for MOMS and learn how you can become a more active and balanced mompreneur!! I am so glad that I did!!!

~Shanta

HAPPY MOTHER'S DAY

HAPPY MOTHER'S DAY

Available now! Only $25.

Exactly one week from today, people across America will be celebrating Mother's Day! For most people, this means a card, some candy, and a basket with a teddy bear in it. While this is a perfectly fine option, each of our mothers is unique. Sometimes you should think outside the basket for mom!

I am blessed to have an amazing mother who not only loves me, but is willing to help me push forward with all of my goals and dreams! Without her, I highly doubt that this business would be where it is today! From babysitting to product testing to brainstorming to letting me brood in the lab, she has been a great silent partner over the last 3+ years!

That alone makes me want to give her a unique, thoughtful gift. Whether you are buying a gift for your own mother or for a mother figure in your life, you should consider how much we give as mothers and try to capture a little bit of that love for your mother or mother figure. Feel free to give it back not just on mother's day but EVERY DAY! Moms deserve it!

This year we are celebrating Mother's Day with a special treat: Lavender Love Boxes. These boxes feature 3 handcrafted goodies for mom to pamper herself for weeks to come! It includes one Lavender & Bentonite soap, one Lavender Bath Salt (6 oz), and one Lavender Love Body Butter (5 oz). You can place your order online between now and May 6th for delivery by Mother's Day. This price includes shipping to one address!! Also anything else that you order with your basket will be shipped with no additional shipping charges! Give mom the gift of handmade, and never forget to show her that you love her!

~Shanta

Family is all that we've got!

Titus with his Mother

 

FAMILY IS ALL THAT WE'VE GOT

Last week I turned 25, and a few days later my movie came out (Furious 7)!!! I was so excited that I bought my tickets a month in advance!!!!! I was set to go to a midnight showing Thursday April 2nd 2015, but before any of that happened, I got the word that my cousin was mauled by a pit bull, April 1st. There is nothing in my life that has been more terrifying than getting that phone call.

As terrified as I was in that moment, all I could think about was whether or not he would be ok and how his parents and his brothers were feeling. He was airlifted from Tuscaloosa, AL to Birmingham, AL. It's a 45 minute drive, but it was severe enough for them to airlift him! We burned rubber getting up to the hospital, and when we got there all anyone could feel was gratitude. He is still alive.

This past Monday April 6th, we celebrated his 10th year of life in gratitude. The damage that dog did to his face is severe and will cause him to be hospitalized for a long time. He'll undergo multiple surgeries to repair the damage, but we are grateful that he had no broken bones from the neck down and that he is such a strong and resilient child!!

When you nearly lose someone that you love, it makes you appreciate them and your life that much more! In the words of Wiz Khalifa, "How can we not talk about family when family's all that we got?" Never forget to call and visit those that you love. You never know when it could change forever. If you would like to send a donation to support his parents so that they can be in the hospital with him and not be worried about bills, please donate to TEAM TITUS.

~Shanta

Nice to meet you!

I have been blogging for a few months, and I realized that I never introduced myself! Thank you all for sticking with me LOL My name is Shanta Wilkerson. I am a native of Southeast Alabama, and a UABirmingham alumnae. I have a three-year-old son, and I operate two businesses while attending Benedictine University online where I am pursuing my MBA.

This blog is a fusion of great information with topics ranging from product development to entrepreneurship, from faith to personal development, from my personal struggles to professional triumphs. This is the place to find out what comes next for Blessed Body Brand and Prosperity Legacy, LLC, and I assure you that it is AMAZING! Stay tuned to see what comes next!! It's nice to meet you!

Shanta

Stumompreneurs Unite Part 2

Stumompreneurs (student, mother, entrepreneurs) are individuals who attend higher education institutions, run businesses, and raise a child or children simultaneously! We are a group of active and highly motivated individuals! As a stumompreneur time management is of the utmost importance (I know because I still struggle with it!!). We have to multitask and be able to do at least 3 things at once, but how can we manage to do all this highly important, life altering, necessary... STUFF! We must PRIORITIZE!

Yesterday we discussed the most important job of the stumompreneur, MOM. Today we will address the other two important facets of ourselves.

ENTREPRENEUR: Your business is your baby, and if it's a start-up... it's a newborn and requires constant care! Like a child, it takes several years to be able to stand up and pee on it's own and remember to lift the seat or wipe it off as it were. You have to be consistent here as well. Know your industry. Know who's prominent in your industry. Read about your industry. Talk about your industry. If you are a product creator, make some great products and market your products. If you offer services, tell the world and market you! Don't be cheap! You're in business to make an impact on the world and make money. This effort keeps you away from your family. That time can't be recovered, and it's expensive! Charge what you're worth and charge for your time. Knowing your industry will be a HUGE help here!

STUDENT: As a student striving for a post secondary or post baccalaureate degree, you have to be motivated and passionate about what you're studying! If you are studying an area that is directly related to your business or business goals, you are in the money! You can multitask and complete business and student assignments at the same time! Know your course schedule. I am attending Benedictine University online, and I know that the week begins on Monday. Initial discussion posts are due Wednesday. Written assignments are due on Sunday along with discussion responses. I also know at the beginning of each week how much reading, research, and studying that I need to do so that I can budget that time in as well.

Stumompreneurs Unite Part 1

Stumompreneurs (student, mother, entrepreneurs) are individuals who attend higher education institutions, run businesses, and raise a child or children simultaneously! We are a group of active and highly motivated individuals! As a stumompreneur time management is of the utmost importance (I know because I still struggle with it!!). We have to multitask and be able to do at least 3 things at once, but how can we manage to do all this highly important, life altering, necessary... STUFF! We must PRIORITIZE!

MOM: Our first priority is to family: our children, our spouses, and ourselves! Individuals outside of your household are not included into this category for consideration. Set a schedule. I know, it is so cliche and darn near impossible, but it will save you a lot of time and tension! I have a three-year-old son and a four-year-old niece. They are both currently home-schooled, so scheduling is of the essence! Be consistent with your schedule. Know what activities are coming up and make them a regular part of your week/month so that your schedule is not derailed. This includes Barnes & Noble story time, library outings, days at the park/zoo/gardens, whatever you want to do with your children.

Do not neglect spending quality time with your husband/wife!! This is not just about sex, although in marriage this area should not be left unattended without cause. Do things with your spouse: talk to each other with everything turned off, hold hands, kiss, do things that remind you why you fell in love with each other (especially if that includes watching anime and playing Sonic on Sega Genesis!!). Set a schedule for this. Scheduling does not make you a bad mother/wife! It makes you a superhero!

Spend time with your entire family as well. Children need to see mom and dad interacting happily with love and care! Again, turn off the world and enjoy each other. Most importantly, DO NOT NEGLECT YOURSELF! Self-care is the only way to stay sane and keep moving! Soak in the tub while your husband watches the kids, read a book, paint your nails, eat snacks ALONE, exercise, play music and dance around (my favorite), do absolutely nothing while the house is quiet at nap time, and most importantly CLEANING UP DOES NOT COUNT AS SELF-CARE! Do something exclusively for you!

Friends and other relatives are very important, but not more important than your family. After all, they are the reason you have this title and chose to do the work that you do. Stay tuned for part 2 where discuss our titles of student and entrepreneur.

Unexpected Diagnosis

Yesterday was my son's birthday, and we had his party already on Saturday night. Sunday was relax day... until I got a phone call that my older brother, age 26, was having some health issue. He had nearly passed out at work, so they sent him home. He, being t he stubborn man he is, refused to go to the hospital, but his girlfriend forced him to go. When he was triaged, his blood glucose level was over 500. Hours later they finally called him into a room. After a couple of bags of fluid and insulin, he was checked again, and his level was 340. The doctor came in and announced Type 2 diabetes, He refused to answer any questions. His response was, "Follow up with this doctor tomorrow." It is a holiday weekend! I have been doing a little bit of research and talking to family and friends with the diagnoses, and it seems that it is manageable. He'll have to make some serious lifestyle changes, but he will be just fine once he gets past the learning curve. How do you deal with an unexpected diagnoses as the patient or as the family of the patient?