by: Mark Kingsbery

Want to save and invest but don’t know where to start? This article, prepared by Thrivent Mutual Funds, outlines some meaningful steps you can take to start moving forward with your investment plan.

Being young and starting a family is an exciting time–full of opportunity and anticipation. Unfortunately, young families are often the most vulnerable to life’s uncertainties. While many are in their peak earning years, they need to be prepared for potential unknowns. 

Ensuring proper protection is important when designing a financial strategy to meet the needs of young families. While each financial strategy will be different, there are a few considerations every family should think about.

Life insurance and disability income insurance can be the foundation of a healthy financial strategy. A few companies are working to develop new offerings that allow new generations to access and leverage solutions more tailored to their lifestyles, incomes and families. Thrivent Financial recently launched a new Universal Life Insurance product that combines the affordability of term insurance with the premium flexibility and potential cash value growth of permanent insurance.

This gives young parents the option of purchasing a lifetime of coverage at a beginning price point that is generally very competitive with term insurance options. This permanent coverage has the potential to build cash value accumulation that can be used for other things, including an emergency savings fund.

Disability income insurance is another solution to consider so families are protecting their paychecks and future goals. New innovations offer options including “stay-at-home-spouse” benefits, allowing couples who have one person working inside the home to stay protected. This type of coverage can protect the invaluable contributions of stay-at-home spouses if they are ever in a situation where they areunable to work in the home.

Innovation and financial services aren’t frequently used in the same sentence. However, with the unique challenges and opportunities faced by young families, new options are appearing in the marketplace that are customized to meet the needs of a new generation.

Thrivent Financial is represented in the local area by a number of financial representatives. This column was prepared by Thrivent Financial for local distribution. Individuals interested in contacting a local Thrivent Financial representative can find more information at

About Thrivent Financial: Thrivent is a not-for-profit financial services organization that helps Christians on the wise with money journey. As a mission-driven, membership-owned organization, it offers its more than 2 million members and customers a broad range of financial products, services and guidance to help them obtain a life of contentment, confidence and generosity. Thrivent and its subsidiary and affiliate companies offer insurance, investments, banking and advice over the phone, online as well as through financial representatives and independent agents nationwide. Thrivent is a FORTUNE 500 company with $136 billion in assets under management/advisement (as of 12/31/17). For more than a century it has helped Christians make wise money choices that reflect their values while providing them opportunities to demonstrate their generosity where they live, work and worship. For more information, visit You can also find us on Facebook and Twitter.