Where are You: The Financial Road Map for Every Area of Your Life

by News Guy on October 23, 2012

Guest Post

Where are you in your life? What part of your life cycle are you entering or exiting? What are the major accomplishments that you are reaching for at this moment? What are your goals that you hope to reach and what is the time frame for doing them? What in your past may keep you from reaching those goals?

While it is great to dream and to plan, you also need to consider how you will pay for the major events in your life. Before you head down the road of life, you need to talk to a trained professional who can help you create a road map so that you are getting to reach all of your goals without having to mortgage your body and soul to accomplish it.

On the Starting Blocks of Your Future

Young people, just starting out on their own, may not think they need to worry about financial planning, but creating a viable road map now prevents getting into serious financial trouble later down the road. Things to think about in this stage of life: student loans and other education expenses, first homes away from the parent’s and bigger dreams like world travel or starting a new career.

Young to Middle Adult: More People to Consider in the Family’s Plans and Dreams

For many people, the end of college signals the time to start working on building a career and doing other things such as starting a family and buying a home. They may decide to buy rather than lease a car. They may want to buy certain luxuries as they make their first “real” paychecks.

They should be encouraged to start saving for their future- their retirement years as well as the future of their children. It is at this time that the professional will guide decisions about retirement accounts, investing and will help determine affordable and realistic mortgage payments and/or car payments.

The Retirement Stage: Living Well in the Golden Years

While it might not be glamorous to discuss, planning for your retirement years is a very important financial tool- if you have followed the road map laid out for you in earlier years, you may be able to retire with little to no changes in your current lifestyle. In addition, you should be making arrangements for things that might happen that could include long term illnesses or disabilities as well as plans for your death.

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