Dr. Slava Shut

Whatever your individual circumstances happen to be, turning your life around requires more than a decision. You need the will, inclination, and above all, you need the right plan, for the right results. It’s easy to get stuck planning only for emergencies, get all those ducks in a row, and then stop planning.

Why is that? 

Because they’re expecting something bad might happen, and they want to be prepared. It’s smart to do this, but emergencies aren’t the only things you should plan for. If you want good things to happen in life, you have to plan for those too.

When you start to see the fruits of your investments, it also helps to have a solid plan for those, too.

Welcome to Topic Thursday, where we talk about a specific topic about finance, business, or life in general. Today, we’ll explore the importance of having the right plan for the future.

It’s always a good idea to have a solid understanding of the effects before you do anything. This will give you the oppoprtunity to plan accordingly. It gives an idea of what the outcome might be for you before you commit to doing anything.

Retirement Savings 

It’s never too early to start saving for retirement. The earlier you start putting money away, the more financial freedom you’ll have later when you access your funds. You can’t work forever, and most people don’t want to. If you want to take it easy when you get older, you should start putting money away for that.

The best part about some retirement savings accounts is that you can access your funds earlier than retirement. Choose to rinvest in a retirement savings account like a 401(k), or an IUL 

Debt Consolidation

When you borrow from any institution, they charge certain fees. It can be a good deal, allowing you access to something expensive that you wouldn’t want to pay for up front. But it all depends on the fine print. While you’re enjoying your new home, car, or property, you might be paying more than you think in the long run.

High-interest debt can drain your finances. You don’t get anything in return for paying more, you just end up paying a higher fee every time the bill is due. Consolidating your debt will allow you to cut some of your financial costs and start saving more money for yourself.

Plan Your Future

It helps to have a vision before you get started. Everything starts with a dream. Without that, chances are you’ll get pulled off track by other important things that will come up. It’s only natural to try to solve problems as you come upon them, but it’s very important that you keep that solid objective in mind.

When you’ve got the ability to comfortably live and provide for yourself, it’s much easier to plan for the future. If your finances are unbalanced, your health is out of whack, you’re struggling with no real belief system, and you’re just surviving, it’ll be much more difficult to make long term financial goals. If it gets bad enough, you might feel like you aren’t able to make plans at all.

But even a situation like this is something you can navigate. You just need the right tools, the right mindset, and the right support. If you’re ready to take charge of your long term finances, schedule a 1-on-1 consultation with me today.