Health & Fitness
5 Keys to Building Real Wealth.
Wouldn't it be great if you could condense all the complexities and complications of finance into a simple set of over-arching principles?
You could use a list like that as a constant index to govern all of your investment decisions.
Well, whether you’re a financial novice or a seasoned professional, here’s a good place to start.
#1 Don’t Save Too Little! So you jump on board the company 401(k) plan, and your employer agrees to match up to 4% of your income. Should you stop there? NO! Especially in your early years, shoot to save 12% to 15% of your total income. And while the company’s 4% match may be a good thing, don’t tie up additional savings in a restricted place like the company plan. Sit down with us and let us help you build a plan that offers more flexibility and adds lean muscle to your savings strategy!
#2 Don’t Procrastinate! Starting never is a recipe for disaster. Starting later costs you money and sucks the power out of your dreams. Starting now is the key to success. The old proverb says, “You can’t fatten a pig on market day!” Don’t wait any longer. Act now.
#3 Use Your Fear! Fear can be a great motivator, but blind fear will cost you. Lay your investment fears out before a professional adviser and work with him or her to build a strategy that overcomes the obstacles which frighten you!
#4 Honor Your Partner! When two income-earners share their expenses, the result should be more resources to invest into a defined wealth strategy. If you honor each other’s dreams and fears as that wealth accumulates, the process becomes a shared work and can draw you into a deeper appreciation for one another. Long-term, constructive relationships can be a win-win for both parties...and the alternative -- the dissolution of a relationship -- can rank among life’s most costly experiences!
#5 Stick to a Plan! The advice to“stick to a plan” assumes that you have a plan in the first place! A defined plan gives you a frame work from which to make better decisions, eases the difficulty of saving, and fuels the rate of real wealth accumulation. Wandering aimlessly, grasping for the next pretty thing, and shooting at ill defined targets rarely gets anyone to an attractive destination. That’s what we do -- build highly personalized plans for meaningful wealth accumulation. Don’t put off that phone call.
Contact us today. 714-377-1400
Source: Cark, Jane Bennett. “Six Costly Retirement-Savings Setbacks -- And How to Overcome Them” Kiplinger's Personal Finance. finance.yahoo.com.
