Plan for your Future – A Very Broad Statement

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We have all heard it and chances are that we have said it as well – planning for the future can mean a million different things. Okay, that may be a little dramatic, but you get the point. What your future looks like may be similar to mine or it may be vastly different. Regardless there are things you can do to help you achieve those goals.

The truth is that you can’t predict the future and what you thought was your path may not be what is in store for you after all. So when you plan, you will want to plan for the worst while hoping for the best.

Planning A Vacation

It is no secret that travel arrangements are at the forefront of a lot of my daily plans. Where will my family go next, and how will we afford to take the trip? Will we drive or fly? Rent a hotel or condo? All of these are questions I find myself answering frequently.

All of the little details can be fun, but without the financial backing a vacation can seem impossible. I start with a budget and then make sure that I have the best credit card rates possible before even taking any steps toward a week filled with relaxation and family bliss. If I find that I could be benefiting from lower interest rates, I look at balance transfer credit cards and go from there.

Planning College Tuition

It is every parent’s dream to have children that grow to be successful. Planning for their education is the first step in ensuring that they achieve your dream. This should be started the second you find out you are pregnant. But don’t worry if you are behind. It is never too late to start and every little bit helps.

Look into bonds and funds that offer a good return on your investment. Then make it a habit to put a set amount into these funds every week or month. This should go along with your budget and as your financial status increases, so should the money put toward higher education.

Plan Your Retirement

None of us want to get old, but all of us want the retirement of our dreams. This is kind of contradictory, if you ask me. But hey, who am I? You will want to view your retirement in similar ways as your children’s education. Knowing the age in which you wish to achieve this goal will help you to plan for this pivotal time in your life. Speak with an advisor or at the very least someone who is good with numbers and they can help you to get on the right path.

Understand the 401(k) plan that your company offers as well as IRA options you may have. This is a time you will want to spend with your grandbabies or traveling the world. By knowing your options you can absolutely have the retirement of your dreams.

Plan For a Rainy Day

Life is funny and you never really know what is going to happen. You could experience car problems, an unexpected death or job loss at any point in time. In order to help maintain during these times you will want to plan for the unexpected. You will want to set aside a portion of every paycheck that goes to a rainy day fund. This money should sit in your savings and not be moved to any type of other fund. It’s your decision whether you pay off debt or save money first.

What you do with your money is not really my problem. In fact, it is totally a decision you should make with your partner. But, having knowledge beforehand is essential to making an informed decision.

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