Is spending time with your family making you question the future of your financial stability?
Gathered around the Thanksgiving or holiday table with your family, you can look around to your left and right and see the people you care most about. How do you make sure that you are setting yourself and your loved ones up to for the future?
There are three key areas where people start to need to make financial decisions:
Obviously your retirement is paramount to your personal future, but you also want to make sure you’re taking care of those around you. You may ask, “What will happens to my children, and my grandchildren, when I pass away?” This may mean you’re planning for the legacy you’re leaving behind in the future, but what about planning for a disaster situation in a much sooner situation?
Okay but you also need to make sure you’re taking care of yourself. How do you manage to live comfortably and maintain a constant stable income? The future can be daunting when you don’t know how to prepare for it.
How do you do this but also plan for a financial legacy?
Then there’s also the help you want to do now where you would like to contribute.
You know how important an education is to the future of the youth in your life and you may want to help them to get in a better position to afford that education. College educations now can present an incredible obstacle in a financial sense.
So how do you stretch that dollar? Do you help your loved one’s future by assisting with college expenses or save for retirement and the future comforts you desire?
It’s a necessary topic to consider, which can cause stress as well. That’s certainly the last thing we want to add onto your plate during the holidays. It tends to cause an immediate reaction in people as well. They may tend to act – they don’t know what to do what they want or know how it’s going to happen, they just do something without having a true economic understanding of how to align those priorities.
So how do you establish proper alignment of those priorities and be able to accomplish each of those goals? In addition, what about establishing proper alignment in addition to proper priority? Many families want to prioritize the kids above everything; we need to remind you though, of those three things, college is the only one that can borrowed for.
Having a proper toolset means having the ingredients to plan for the future, and it takes effort and critical decisions. We’ll be talking about each of these sections in the coming days, in order to help prepare you.