It’s scary to think of not having enough money at any age, but even scarier to think of being broke after you’ve retired and can’t work anymore – but some planning now can give you a brighter future. (Sorry for stating the obvious.)
You have choices here – you can hire a financial advisor, you can do research and apply your best common sense, you can flip a coin to choose your retirement savings strategy (but you shouldn’t actually do that) – you can leave it in God’s hands and see how it works out – or you can make a plan.
Financial Planning for Your Future
According to NAPFA, the National Association for Personal Financial Advisors (which can help you find a CFP, or Certified Financial Planner), two out of five people surveyed rated themselves poorly in regards to understanding personal finance.
This lack of financial understanding leads people to retire later, to be underwater with mortgages, to have ZERO DOLLARS saved for retirement, and to have no kind of budget whatsoever.
Ignoring the need for financial planning does not make the problem go away, however. It only serves for stress and depression to build up in the individuals who have foregone this type of monetary exploration.
Whether you have a lot of money or you are struggling to get by, financial management is going to play a big role in your future. If you take control now, your future will be better.
(I know I kind of said that already, in different words, but really, it is so vital it cannot be over-stressed.)
How to Save Money for Long Term Investment
If you feel like you don’t have enough money to get by, saving money is, of course, the farthest thing from your mind.
The thing is, things like saving and contributing to causes, instills in your subconscious mind that there will always be more, and then, you start to find more and more that you can save, and you start to feel better about yourself.
And, as Anthony Robbins said, “If you won’t save a dime out of a dollar, you won’t save a million dollars when you have ten million.”
If you don’t know where to start on this life changing part of rewriting your life story, pick up a book on personal budgeting, or look for money management games you can play to explore the process of taking control of your financial destiny.