In an ideal world, we'd be debt-free, able to invest our money for the future and still have enough money to share. But life rarely works that way, right?

When weighing paying off debts against investing money, it is important to understand that finances are a very personal matter, so what works for one person may not be the right path for someone else. However, two considerations will help you find the right answer for you: the rate of return and how your debt vs. savings affects you emotionally.

If you decide to invest money and take a slower approach to paying off your debt, over the long term you may see a greater return on investment - depending on where you invest your money and how long you have to let your investment mature (i.e., your time horizon).

On the other hand, not all types of debt are the same. Credit card debt is considered "bad" debt because you cannot deduct the interest from your tax return like mortgages. However, if the high balances on your credit card bills are keeping you up at night, it may be beneficial to pay those off as quickly as possible - and invest less in the short term, until you are free and clear of debt.

The bottom line is: two people may each take a very different approach to this dilemma, and it isn't wise to go at this alone.

If you're not sure where to begin with financial planning or investing, consider scheduling a free consultation with our Investment Consultants.

There are all kinds of insurance product available and the key to determining what coverage you need really depends on where you are in your life. When you are single and on your own, you are probably less concerned about insurance than if you are married and have a family depending on you.

But no matter what age, you need to make sure that you are covered - yet not spending money on insurance that isn't necessary. Here are five types of insurance you should have:

Health Insurance. No matter what age you are, you should have health insurance. If not, you run the risk getting yourself into deep financial trouble should something happen. If your employer does not provide health insurance, you might consider a higher-deductible plan to make it more affordable.

Life Insurance. Where you are in your life and who is depending on you will determine how much life insurance coverage you need. These numbers can be tricky; it is best to work with a financial professional to determine the right amount of life insurance for you.

Homeowners Insurance / Renters Insurance. If you own a home, you are required by law to have homeowners insurance. Just like life insurance, the amount you choose is, to a certain degree, flexible. If you are renting, you may want to consider obtaining renter's insurance to cover any loss of belongings - if your landlord doesn't already require you to have it.

Car Insurance. This is another insurance that, if you own a vehicle, is required by law. However, the options and amount of coverage are flexible. Increasing your deductible will reduce your costs.

Disability Insurance. This insurance provides a percentage of your income should you be unable to work - due to disability, illness or accident.

Talk to one of our knowledgeable financial professionals, who can guide you in your long-term planning - including your insurance needs - so that you are financially secure.

If you have a family that is dependent on your income, then you need life insurance, but exactly how much you need is always tricky to determine. Truth be told, many of us carry too much life insurance - mostly out of fear of leaving our family in a financial bind should something happen to us.

Most people want enough life insurance to enable their family to continue their current lifestyle if they pass away. To accurately determine whether you need $100,000 or $500,000, though, takes a lot of thought and planning. Some questions to ask yourself include:

• How much money would my family need after my death to pay for immediate expenses, such as funeral expenses and debt?
• How much money will my family need for future costs (such as private school tuition or college)?
• What resources can my surviving family members draw upon (i.e., spouse's salary)?

It may look simple enough, but when you are dealing with such an emotional issue, it can be complicated. To help you through this process, talk to one of our knowledgeable investment consultants.

Investing isn't a sprint; it's more like a marathon that may change paths several times throughout your life as your goals and dreams change. But the sooner you start investing, the better off you'll be long term, and it all starts with an investment plan.

To wisely plan your investments, you'll need to know the answer to these questions:

• What are your financial goals?
• How long do you have to invest (your "time horizon")?
• How much money will you need to reach your goals?
• How much money can you devote to reaching your goals?
• Will you need to live off of your investments in your retirement years?

Working with one of our investment consultants will help you develop the right course of action for you. It's important to recognize that once you set up your investment plan, you can't just put it on autopilot. Monitor your plan at least annually by reviewing it with a financial expert, and make adjustments as necessary.

Actually, yes there is wedding insurance (sometimes called special event insurance). Wedding insurance policies differ from company to company, but here's a general overview of the coverage you can expect:

• Repairs and damage to the bride's dress or groom's tuxedo
• Lost rings
• Deposits made if a vendor goes out of business
• Severe weather, such as a hurricane, that postpones your special day
• Commercial transportation shutdown that prevents honorees, parents and others from getting there
• Bride or groom is called to active duty

Optional coverage is also available against special event liability and liquor liability. Our Insurance Services experts can help you with some extra peace-of-mind on your special day.