As the year draws to a close, it is important to measure your progress toward the achievement of your family’s financial goals. This has nothing to do with comparing your investment returns to that of the stock or bond markets on TV. It has everything to do with having your investments move towards the goals you have established. What’s that I hear you grumbling? You haven’t written down a specific goal for the funding of your retirement? No goal for the funding of your children’s or grandchildren’s education? No goal for a retirement date or when to claim social security benefits? No written plan to achieve any of these goals.
It is very difficult to measure progress when you don’t know where you are going. And everyone looks at the stock market’s progress on TV and thinks that is what they need to beat. That’s like watching an Olympic athlete work out and thinking that you need to work out like that too. But that’s impossible for most of us to accomplish not to mention it’s totally unnecessary. You only need to work out to reach your goals, not the Olympic athlete’s goals!
So, as we come to the close of another year, let’s double down on our efforts to really figure out the life we want to live – now and in the future. And let’s try our best to quantify what that life will cost on an annual or monthly basis. And then let’s figure out how much we need to set aside each month, with a reasonable investment return and with price swings that we can sleep at night with, to pay for that future life we desire. Let’s insure our goals in case the unexpected happens and disrupts our plans and let’s get the paperwork done to take care of our family in the event that we are unable to do so later.
Now, don’t you feel better knowing that you have order and simplicity to your life? Isn’t it liberating that you know where you are going and can tell if you are on track to get there? Isn’t it wondrous that if you can imagine it, you can make a plan to achieve it? Let’s decide right now to end the guessing, the fear of the unknown, and the concern about the future. Let’s make a plan and work it to achieve your perfect life.
If you and your life savings are being ignored or feeling taken advantage of, come join our family. We are a family-owned financial planning and investment advisory firm who promise to treat you like family. No products. No hard sell. No gimmicks. Just honest advice based on four decades of experience.