Debt in America has reached staggering levels, reshaping the financial landscape for millions of households. According to the Federal Reserve Bank of New York’s most recent report, total household debt now stands at $18.39 trillion , an increase of $185 billion in just the second quarter of 2025 alone. The Breakdown of Debt Growth The biggest contributor continues to be mortgages , which rose by $131 billion and now account for nearly $12.94 trillion of the total debt load.

Life insurance is a vital component of financial planning, but it is just one piece of the puzzle when it comes to building and protecting your legacy. Here are some essential strategies to consider: 1. Estate Planning Wills and Trusts: Establish clear directives for the distribution of your assets. Power of Attorney: Designate someone to make financial or health decisions on your behalf if you become incapacitated. Healthcare Directives: Outline your medical preferences i